March 2017

Copper conc TC/RCs hit fresh 4-year low on pre-strike resolution buying

Spot copper concentrate treatment and refining charges (TC/RCs) dropped to $73.9 per tonne/7.39 cents per lb over the past two weeks, their lowest since August 2013, with traders and smelters bidding at low levels to cover nearby deliveries.

NON-FERROUS WEEK IN BRIEF: MJP up 12%; nickel stocks; zinc TCs; alumina webinar; mn rally

After another busy week in the Metal Bulletin offices, we take a look back over the key news and price moves from the past week.

HOTTER ON METALS: Copper miners to rely on price, not productivity

Copper miners are in a much stronger position than they were a couple of years ago.

LIVE FUTURES REPORT 31/03: LME base metals prices bar tin decline; market looks forward to Q2

All base metals apart from tin declined further into the close of trading on Friday March 31, which marks the end of the month and the first quarter.

Codelco reduces costs, returns to profit in 2016

Codelco, the world’s largest copper producer, returned to profit in 2016 mostly due to its continuous efforts to reduce costs, its ceo said on Friday March 31.

LME warehouse charge-cap comes into effect

The implementation of the first charges under the LME’s new charge-capping rule will take effect on April 1 as the LME concludes its three-year warehouse reform programme.

Access World USA fined by LME over falsified zinc documents in New Orleans

Access World USA has been fined $1.4 million by the London Metal Exchange for falsifying documents related to zinc following logistical issues in New Orleans.

FORECAST: Restart of nickel ore exports from Indonesia could speed up FeNi/NPI plant start-ups

Changes to Indonesia’s mining policies in recent years have drawn the ire of some investors but its latest move to allow some low-grade nickel ore exports has been welcomed for helping to accelerate the construction of ferro-nickel and nickel pig iron (NPI) plant constructions in the country.

Loth will head metals division at Englehart after management reshuffle

Shon Loth will lead Englehart Commodities Trading Partners’ metals and minerals division after the commodities trader re-shuffled its senior management, it said on Friday March 31.

MB LEAD CONF: LME ‘Asian hour’ trading volumes spike on increased arbitrage interest

The London Metal Exchange is seeing growth in ‘Asian hour’ volumes, driven by rising interest in arbitrage trades between the LME and the Shanghai Futures Exchange (SHFE), Oliver Nugent, the LME’s base metals business development manager, said.