DAILY ROUND-UP – FastMarkets on China ali production and Alcoa closure

A round-up of FastMarkets’ top stories published on March 28:

Alcoa officially stopped producing aluminium at its Warrick Operations primary smelter near Evansville, Indiana, last Thursday.

The International Exploration Forum that was scheduled to be held on April 4 in Santiago, Chile, has been cancelled, the Centre for Copper and Mining Studies (CESCO) and trade publication Editec, said in a joint statement.

Aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totalled an estimated 2.037 billion pounds (924,000 tonnes) in January, down 5.3 percent from a year ago, according to the Aluminum Association.

Chinese aluminium prices have continued its upward trajectory over the past fortnight and this could prompt more Chinese smelters to restart idled production capacity.

China’s refined copper production rose 7.3 percent year-on-year to 1.28 million tonnes in January-February, according to data published by China’s National Development & Reform Commission (NDRC) on Monday.

Total profits among China’s nonferrous metal smelters and fabricators contracted 12.9 percent year-on-year to 12.66 billion yuan ($1.9 billion) in January-February, according to data published by the Chinese National Bureau of Statistics on Sunday.

The London Metal Exchange will extend its existing liquidity provider and new market participant programmes for an additional 12 months, while also extending the programmes to include nickel, lead and tin, the exchange said.

Will Adams

About Will Adams

William Adams has been involved in the metals markets since 1982 – he has experience in many areas of the market from researching to trading and has worked in London, New York and Tokyo.