April 2019

WEEKLY BASE METAL PREMIUMS REPORT 30/04

A summary of base metals premiums from across the globe for the week to Tuesday April 30.

Blister copper RCs for April flat; China's Q1 imports from Zambia drop 40% in value

Blister copper spot refining charges (RCs) in China were unchanged in April while the copper arbitrage window remained negative throughout the month, to discourage import interest, Fastmarkets heard on Tuesday April 30.

LIVE FUTURES REPORT 30/04: LME Al hits 2-year low; ignores inventory dip to trade below $1,800

The London Metal Exchange cash/three-month aluminium contract fell $30.50 to trade below its psychological $1,800-per-tonne price level at $1,779.50 per tonne by close of play on April 30.

Rusal Q1 aluminium VAP sales down 22% on sanctions

Aluminium producer Rusal’s sales of aluminium value-added products (VAPs) were down 22.2% year on year in the first quarter of 2019 amid US sanctions and high premiums, it announced on Tuesday April 30.

EU nickel briquette premium hits almost two-year low on weak stainless steel demand

The premium paid for European nickel briquettes fell to its lowest level since July 11, 2017 on April 30, amid extremely weakened demand from the stainless steel sector for the material, while European off-warrant supply remains healthy and facilitates the decline.

LIVE FUTURES REPORT 30/04: Comex copper recovers amid dollar weakness

Comex copper staged a modest increase on Tuesday April 30 morning in the United States amid a weakening dollar and market hopes that a US-China trade resolution is upcoming.

Brazilian Q1 Al output down 24.7% on Albras' restrictions, Abal says

Brazil’s primary aluminium production totaled 147,000 tonnes in the first quarter of 2019, falling by 24.7% compared with 195,100 tonnes in the first quarter of 2018, the country’s association for the sector, Abal, said on Monday April 29.

PEOPLE MOVES: Tim Murray steps down as Alba ceo

Tim Murray is to step down as chief executive officer of Aluminium Bahrain (Alba) on July 31, 2019, to relocate to the United States after seven years in Bahrain, the company said this week.

American Zinc Recycling plant fire forces community evacuation

A fire at American Zinc Recycling (AZR) plant in Mooresboro, North Carolina, led to a community evacuation after sulfuric acid was released into the air, local authorities announced.

LME ASIA WEEK 2019: Why has the SHFE aluminium price stayed strong after China cut its VAT rate?

With LME Asia Week fast approaching, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year’s event: What is keeping aluminium prices on the Shanghai Futures Exchange elevated following the cut to China’s value-added tax (VAT) early in April?