June 2020

MRI appoints Nunnenmacher new CEO; Paterson becomes President

Swiss metal merchant MRI Trading has appointed Markus Nunnenmacher as its new chief executive officer, with longstanding head Iain Paterson stepping down from the role effective from July 1.

Non-ferrous scrap renaming uncertainty dampens Chinese buying; import quotas dry up

Chinese non-ferrous scrap importers largely stayed on the sidelines during June, with a lack of detail surrounding China’s renaming of certain scrap metal as renewable materials causing participants to refrain from making any purchases.

Accident at China’s Huaxing alumina refinery removes 50-80kt of supply; market unmoved so far

Huaxing alumina refinery, in Shanxi province of northern China, has closed one alumina production line following an equipment accident, several sources told Fastmarkets on Monday June 29.

North American aluminium scrap scheme targets recyclers

Fraudulent activity in the aluminium scrap market has picked up recently, according to market sources and industry organizations, with one scheme involving aluminium wheels causing particular damage.

ALUMINA SNAPSHOT: Fob Australia index moves to highest since March

Key information from the pricing session for Fastmarkets’ alumina index, fob Australia on Thursday June 25.

IN CASE YOU MISSED IT: 5 key stories from June 23

Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.

Noble Group posts $206 mln Q1 loss; cites impact of Covid-19 on supply chains

Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23.

Chinese alumina market looks for price support from Hydro power outage

Chinese alumina market participants are closely watching Hydro’s recent power outage to see whether the incident could cause a long-term supply alumina disruption, they told Fastmarkets on Tuesday June 23.

Power outage at Hydro’s Paragominas bauxite mine reduces alumina output at Alunorte

Production at Hydro’s Paragomias bauxite mine, in the state of Pará in northern Brazil, has been temporarily halted due to a power outage, the producer said on Monday June 22.

Glencore says Swiss Attorney General has opened probe over its DRC dealings

The Attorney General of Switzerland has begun criminal investigations into Glencore’s business practices in the Democratic Republic of the Congo (DRC), the company said on Friday June 19.