September 2014

ASIAN MORNING BRIEF: Key news and price moves for October 1

Good morning from Metal Bulletin's London office, bringing you up to date at the start of the Asian day.

CLOSE TO CLOSE: Nickel takes another hit on poor macro data

Nickel prices lost all the gains made during the official session on the London Metal Exchange as the market closed on Tuesday September 30, on a dearth of encouragement from macroeconomic data.

Louis Dreyfus metals volumes up ‘significantly’ in H1

The Louis Dreyfus metals unit achieved a "significant" increase in trading volumes in the first half of 2014 and contributed positively to the performance of its merchandising business, the trading house said on Tuesday September 30.

Spot copper concs deals thinning out ahead of contract talks

Spot transactions in the copper concentrates market were thinning out in the second half of September as miners and smelters started limbering up for annual supply negotiations.

LME OFFICIALS: Modest gains for base metals prices capped by strong dollar

Nickel prices made small gains during the official session on the London Metal Exchange on Tuesday September 30 compared with the day before, but remained weak overall as disappointing macroeconomic data and a strong dollar subdued sentiment.

PPS buys another 2,000 tonnes of aluminium at higher premiums

South Korea’s Public Procurement Service will buy 2,000 tonnes aluminium through a tender that closed on Tuesday September 30.

Trade log September 2014: Aluminium

The latest aluminium transactions and assessments, for the month commencing August 1. All prices are per tonne and relate to in-warehouse premiums, unless otherwise stated

Talvivaara’s draft restructuring programme submitted in court

Talvivaara Sotkamo’s secured restructuring debt of €130 million ($165 million) constitutes a financing debt of €53 million after the deduction of liquidation costs, the administrator of the corporate reorganisation of Talvivaara has estimated.

China’s NPI market keeps falling as mills cut delivery prices

China’s nickel pig iron (NPI) prices continued to fall this week as the country's biggest stainless steel mills cut their October delivery prices, sources said.

SHFE vs LME arbitrage: copper, aluminium, zinc

Arbitrage for copper, aluminium and zinc imported into China*