January 2015

WEEK IN BRIEF: Production news; cuts; Al seminar; LME moves

Metal Bulletin editor Alex Harrison takes a look back at some of the key stories from the past week.

LME OFFICIALS: Copper prices remain weak on rising stocks, selling pressure

Copper prices remained weak during official trading on the London Metal Exchange on Friday January 30, as rising stocks and selling pressure weighed on the market.

South Korea’s PPS buys 2,000 tonnes of copper

South Korea’s stockpiling agency Public Procurement Service will buy 2,000 tonnes of copper through a tender that closed on Friday January 30.

Vedanta's fiscal Q3 earnings down 11%

Vedanta Resources’ underlying earnings fell 11% year-on-year to $1.02 billion in its fiscal third-quarter, with the miner reviewing its Zambian copper business and costs across segments amid volatile commodity prices.

Shanghai copper prices fall, stockpiles rise

Copper prices on the Shanghai Futures Exchange (SHFE) continued falling on Friday January 30 on weak US home sales data and poor Chinese demand.

SHFE vs LME arbitrage: copper, aluminium, zinc

SHFE, LME, arbitrage, copper, aluminium, zinc

BHP Billiton to cut jobs at Olympic Dam

BHP Billiton will cut jobs at its Olympic Dam operations in Australia to “reduce costs in order to build a strong, viable business”.

EUROPEAN MORNING BRIEF: Key stories on Jan 30

Good morning from Metal Bulletin’s Asian offices. Here is a summary of news to start your day…

Rusal sees aluminium production flat in 2015

UC Rusal expects annual aluminium production in 2015 to be flat year-on-year at 3.6 million tonnes, with no plans to restart idled capacity.

LME ASIAN WRAP: SRB stockpiling hopes limit copper slide

London Metal Exchange copper slid in Asian morning trading on Friday January 30, although continued speculation over possible stockpiling by China's State Reserves Bureau (SRB) helped underpin prices.