September 2019

Tight spot availability pushes blister copper RCs down; traders struggle to meet contracts

Refining charges for imported blister copper went down in China in September because of unusually tight availability in the spot market, with only minimal volumes coming from Zambian producer Konkola Copper Mines (KCM) and local producers limiting their primary smelting activities due to record-low treatment charges for copper concentrates.

LIVE FUTURES REPORT 30/09: LME zinc improves 2.5% while spreads tighten; lead follows up

The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 30, climbing up by some 2.5% amid moderately high turnover, while lead futures were similarly stronger over the afternoon.

ALUMINA SNAPSHOT: Index falls below $290 per tonne for first time since 2017

The benchmark alumina price in the Pacific region has fallen to a fresh two-year low and below $290 per tonne for the first time since May 25, 2017.

Lead concentrate TCs hit 3-year high while zinc terms drop

Treatment charges (TCs) for lead concentrates rose to three-year highs late in September when smelters in China trimmed output ahead of national holidays and a negative arbitrage ratio remained in place for imports, while zinc TCs have also narrowed.

PEOPLE MOVES: Alba appoints Bryan Harris CFO, Khalid Turani head of internal audit, risk

Aluminium Bahrain (Alba) has appointed Bryan Harris chief financial officer and Khalid Turani chief of internal audit and risk management with effect from September 25 following the company’s most recent board meeting, the company said on Monday September 30.

INTL AL CONF: Lack of global aluminium product demand sends bearish jitters upstream

Weak fundamentals in global downstream aluminium-product premiums were a key concern for market participants further up the supply chain at Fastmarkets’ International Aluminium conference in Athens, Greece on September 23-25.

Nyrstar-Trafigura zinc concentrate contracts were set at 25% of 2018 benchmark terms

Major zinc smelter Nyrstar received zinc concentrate supply from Trafigura in 2018 with terms set at a quarter of that year's market benchmark, according to updated 2018 financial statements released by the company over the weekend.

Aluminium, steel industries welcome proposal for EU trade enforcement officer

The appointment of a European chief trade enforcement officer should ease trade problems in the steel and aluminium sectors and help tackle Chinese excess capacity, industry experts told a meeting of the European Parliament Committee on International Trade (INTA) in Brussels.

Australian aluminium export shift adds new supply-side dampener in Asia

Australian government officials warned domestic aluminium producers to stem exports to the United States and avoid threatened tariffs, a diversion that has caused units to flood the already well-supplied Japanese market.

LIVE FUTURES REPORT 30/09: LME nickel increases amid low stocks; tin nears $16k/t

The three-month nickel price on the London Metal Exchange was higher during morning trading on Monday September 30, buoyed by continued outflows and fresh cancellations, keeping exchange stocks at their lowest level since 2011.