May 2020

Codelco profits plummet in first quarter

Codelco’s profits fell by 85.5% year on year in the first quarter of 2020, the company said on Friday May 29, due to lower copper prices brought about by the global spread of the novel coronavirus.

WEBINAR: Nickel supply concerns for EV use heighten from 2022 - poll

Concerns over the availability of nickel for the battery sector increase from 2022, when electric vehicle (EV) growth picks up again after a period of weak consumer confidence caused by Covid-19, according to a poll conducted during a Fastmarkets webinar.

LIVE FUTURES REPORT 29/05: Zinc price up 2.5% but still closes below $2,000

The three-month price of zinc on the London Metal Exchange rose by 2.50% during trading on Friday May 29 to close at $1,988 per tonne.

BATTERY RAW MATERIALS MARKET REPORT 29/05: Cobalt hydroxide prices rise; graphite demand still sluggish

An overview of the battery raw materials markets and their latest price moves.

COPPER CONCS SNAPSHOT: TC/RCs dip as smelter buying picks up; contango aids trader buying

Fastmarkets’ benchmark copper concentrates treatment and refining charge (TC/RC) index fell on Friday May 29 despite the expected return of Peruvian supply.

Consumers starting to pay green aluminium premium, former Norsk Hydro CEO says

Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium producer Norsk Hydro said.

Covid-19 to accelerate technology in mining, former Norsk Hydro CEO says

The Covid-19 pandemic is likely to accelerate the use of technology in the metals and mining industry, the former chief executive officer of Norsk Hydro said.

Covid-19 will hit LME nickel hardest of all base metals - Citi

End-use demand for nickel will be so badly affected by Covid-19 that the London Metal Exchange nickel price will recover at the slowest pace among the base metals, Citi analyst Oliver Nugent told Fastmarkets.

Aluminium overcapacity here for foreseeable future, former Norsk Hydro CEO says

Overcapacity in the aluminium industry is highly unlikely to be erased in the foreseeable future, according to the former head of Europe’s largest aluminium producer, Norsk Hydro.

May blister copper RC at two-year low despite slow return of African supply

Chinese copper smelters are still searching for spot raw materials to feed their furnaces while the supply of scrap and domestic blister copper remains crimped.