May 2021

Spence union workers overwhelmingly reject BHP’s latest wage offer

Union workers at BHP’s Spence mine in northern Chile have overwhelmingly rejected the latest wage proposal from the company, according to a post on the Spence union’s website on Saturday May 29.

China's NPI market sentiment positive despite softening prices

China’s nickel pig iron (NPI) prices widened downward last week amid a sliding stainless steel market, while the cif China discount for ferro-nickel decreased in the past month.

IN CASE YOU MISSED IT: 5 key stories from May 28

Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look.

NEW ENERGY MATERIALS MARKET REPORT 28/05: European lithium prices continue to improve

An overview of the new energy materials markets and their price moves from the past week.

LIVE FUTURES REPORT 28/05: LME metals end week on strong footing; tin at $30,400

Nickel’s price was up by more than 5% on the London Metal Exchange and tin’s was up by 4.3% since the start of the week, with bullish momentum returning to the base-metals complex on Friday May 28 and all metal prices finishing higher than at the start of the week.

Blister copper RC reaches 3-year high in May; No 1 scrap buying continues

Spot interest in overseas blister copper remained low this month in China, with importers continuing to show a preference for top-grade copper scrap while the outright price of the metal remained high.

Ivanhoe in talks with DRC gov for copper concs export permit

Ivanhoe Mines - the developer of the Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) - is in talks with that country’s government about securing a permit to export concentrate, it said.

DRC customs head backtracks on copper, cobalt export ban

Customs officials in the Democratic Republic of Congo have backtracked on a decree made just 24 hours earlier and re-approved the export of copper concentrate and cobalt from the country.

SHFE STOCKS REPORT 28/05: Most base metal inventories decline; tin down 13%

Base metals, with the exception of lead, registered declining inventories in Shanghai Futures Exchange-registered warehouses in the week to Friday May 28, with tin the biggest faller - down 13%.

LIVE FUTURES REPORT 28/05: Tin at new decade high on LME, other prices consolidate

Tin was the standout performer on the morning of Friday May 28, reaching a new year-to-date peak of $30,800 per tonne, while other LME futures prices had a more up-and-down start, with some having ended the Thursday session with increases of more than 3%.