A daily round-up of the top FastMarkets stories from July 13.
Comex copper futures jumped to a two-month high early Tuesday morning in US before overbought conditions led to a minor consolidation before the final settlement.
A growing number of smelters, trading houses and metal hedge funds have been involved in the latest wave of deliveries of copper to LME-listed warehouses while the market is depressed.
China should not be solely blamed for the slow death of the US primary aluminium industry, consultancy UNO International Trade Strategy said, warning that onerous and misplaced trade barriers will only damage America’s thriving downstream sector.
Trevali Mining has achieved commercial production at its Caribou Zinc mine following record production in June, the Canadian miner said.
Peru’s troubled La Oroya polymetallic smelter could reopen if Peru’s president-elect gets his way.
Production and consumption of molybdenum both declined in the first three months of this year, with a steeper fall in output moving the supply/demand balance into deficit, figures issued by International Molybdenum Association (IMOA) show.
South Korea has bought copper and tin in new tenders this week, according to the country’s state-run Public Procurement Service (PPS).
Tongling Nonferrous Metals Group, China’s leading refined copper producer, has warned of a 77-92 percent year-on-year drop to its net profit for the first half of this year owing to the sharp decline in product prices and increase in finance expenses.
Canada-based Strongbow Exploration Inc has formally completed its acquisition of the bankrupt and long-closed South Crofty tin mine in the UK from administrators and will now carry out an assessment of the project.
China’s copper metal imports declined on a month-on-month basis for the third straight month in June, with the trend likely to continue in the near term, market participants said.
The Shanghai Futures Exchange has approved the zinc production from Yunnan Chihong Zinc & Germanium’s Huize plant in southwest Yunnan for delivery settlement effective Monday, the exchange said in a notice.
The board of Eramet’s Société Le Nickel (SLN) has approved a 200-million-euro ($221 million) loan deal proposed by the French government, paving the way for operations to continue at the New Caledonian nickel producer.