June 2021

IN CASE YOU MISSED IT: 5 key stories from June 30

Here are five Fastmarkets stories you might have missed on Wednesday June 30 that are worth another look.

LIVE FUTURES REPORT 30/06: Copper tumbles 8.5%, aluminium up during June

Copper’s three-month price has shown the biggest fall during June among base metals on the London Metal Exchange, rocked by Chinese announcements and rising inventories, while the prices of other base metals such as aluminium and tin were higher than on June 1.

GLOBAL TIN WRAP: Freight, trucking costs take US and Europe tin premiums to new peaks

Premiums for tin ingots in Europe and the United States continued their rise to new highs in the fortnight to June 29, with freight and trucking costs and delays still the main issue pressuring premiums upward, sources told Fastmarkets.

NEWSBREAK: Antofagasta signs H1 2022 copper TC/RC contracts with Chinese smelters at mid-$50s

Antofagasta has agreed to supply four major Chinese smelters with copper concentrates in the first half of 2022, with a treatment charge in the mid-$50s, Fastmarkets understands.

Shanghai bonded copper stocks rise to 23-month high in June; zinc inventories drop by 10.7%

Copper stocks in Shanghai bonded warehouses rose to a 23-month high in the month of June as a result of a closed arbitrage window between London and Shanghai.

European copper market weighs impact of Russia export tax, low Asia rates

Premiums for delivered copper cathodes fell in Europe while those for seaborne cargoes firmed this week, with the market digesting how a tariff on Russian exports would affect the continent's balance of trade.

GLOBAL ZINC & LEAD WRAP: North Europe at 40-month high, bearish sentiment prevails elsewhere

Zinc premiums continued to increase in Antwerp and Rotterdam on Tuesday June 29 due to low supply but sources expect a downturn in August during the seasonally weaker period, while markets elsewhere were either stable or down during the week.

GLOBAL COPPER WRAP: US market maintains multi-year highs; China import premium inches up

The United States remains the strongest market for copper cathodes, with the premium remaining at elevated levels in the week to Tuesday June 29, while premiums for imported cathodes in China are showing signs of recovery after sinking steadily for the past few months.

GLOBAL NICKEL WRAP: All cathode premiums flat but market sentiment diverges in regions

Nickel cathode import premiums were unchanged globally in the week to Tuesday June 29, but sentiment diverged after Russia announced a 15% export duty, while nickel briquette premiums in Europe and the United States rose amid tight supplies and strong demand.

LIVE FUTURES REPORT 30/06: LME lead reaches new high, other prices stable

Prices were largely unchanged on the London Metal Exchange on the morning of Wednesday June 30, with the exception of lead which continued its steady rise, reaching a new year-to-date high of $2,340 per tonne during early trading.