July 2021

US Midwest aluminium premium jumps by 2¢/lb to fresh high

The United States Midwest aluminium premium hit another all-time high on Friday July 30, with bullish sellers boosting their offers after a workers’ strike forced Rio Tinto to cut output at its Kitimat smelter in Canada.

ALUMINIUM BILLET WRAP: Premiums rise in Europe, Brazil

Aluminium 6063 billet premiums climbed in Europe and Brazil on Friday July 30, while premiums in the United States and Asia were steady. Supply contract negotiations for 2022 have started, but high freight rates and a Russian export tax are likely to complicate talks.

Shanghai bonded copper stocks turn downward but aluminium inventories up 55%

The volume of copper stocks held in Shanghai bonded warehouses has fallen from a 23-month high in mid-July because of an improving arbitrage window between London and Shanghai, Fastmarkets heard on Friday July 30.

AT A GLANCE: Nexa Resources posts higher production, sales in Q2

A summary of Luxemburg-based Nexa Resources’ copper, zinc, and lead ore production for the second quarter of 2021, according to results released on Thursday July 29 and a conference call on Friday July 30.

LIVE FUTURES: Aluminium rises 5.3% in July to new year-to-date peak, tin at new all-time high

Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.

Vale demurs on Sudbury strike duration, US nickel premium at peak amid shortage

Sudbury, a Vale SA mine in Canada where workers have been striking since June 1, has had “a very large impact” on the Brazilian miner’s operations, the company’s chief executive officer told analysts on July 29.

COPPER CONCS SNAPSHOT: TC/RC soars to 15-month high

Fastmarkets' copper concentrates index jumped this week with both smelters and traders locking higher numbers for spot cargoes.

Sibanye-Stillwater to buy Sandouville nickel facility from Eramet

Precious metals mining company Sibanye-Stillwater is going to buy the Sandouville nickel hydrometallurgical processing facility from French mining group Eramet SA in a move to build on its strategy to diversify into the battery metals supply chain, the company said.

Yunnan Shenhuo to lose 50,000t of aluminium output due to power cuts

Chinese aluminium producer Yunnan Shenhuo will cut its output by 50,000 tonnes because of the latest round of power restrictions announced by local power supplier Yunnan Power Grid on July 27.

Talon Metals, USW to work toward 'first carbon-negative' nickel mine

Nickel producer Talon Metals will collaborate with the United Steelworkers trade union (USW) in developing what could be the world’s first carbon-negative mine, the Tamarack Nickel Project in the US state of Minnesota, it announced on Thursday July 29.