DAILY ROUND-UP – FastMarkets on concentrate blending and BTG spin-off

A round-up of FastMarkets’ top stories published on April 11.

The US copper market eked out a minor gain Monday in the US, but the red metal remains vulnerable after talks at Cesco Week in Chile raised concerns over the long-term fundamentals.

Peru’s copper production climbed 70 percent in February to 196,114 tonnes from 99,721 tonnes a year earlier, the country’s Energy and Mines Ministry said in a statement.

Rio Tinto has doubled its payment terms for suppliers to 90 days from 45 days previously in response to weak commodity prices.

Malaysia is extending its bauxite mining ban in the country’s largest peninsular state of Pahang by another three months but Chinese sources said they expect limited impact from the extension.

Minera Escondida has inaugurated its third copper concentrate plant in Chile on Monday, majority shareholder BHP Billiton announced.

Yu Dehui has been elected as the chairman and non-executive direction of Aluminium Corp of China (Chalco) in an extraordinary general meeting held by the company last Friday.

China’s ex-works producer prices in the nonferrous metal smelting and fabricating industry fell 8.3 percent year-on-year in March, according to data released by the country’s National Bureau of Statistics on Monday.

The copper concentrates blending market will grow further in 2016 with increased interests from Chinese smelters to participate in the blending business.

Daye Qiansheng (Hong Kong) Investment, a subsidiary of Chinese top copper smelters Daye Non-ferrous Metals has taken the first steps into starting a copper concentrates blending business in Malaysia.

BTG Pactual has spun-off its commodities arm, which includes its metal trading and warehouse business and renamed it Englehart Commodities Trading Partners.

 

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.