A round-up of FastMarkets’ top stories published on April 27.
Federal Reserve members saw global risks ease over the last month, but decided that signs of a slowing US economy warranted no change to the benchmark rate.
Base metals finished lower on the LME on Wednesday – with traders finding little to get excited about ahead of crucial central bank meetings, the complex was content to retreat further from last week’s peaks.
Purchasers of Horsehead Holding Corp securities have filed a class action alleging that the zinc producer issued materially false and misleading statements and failed to disclose adverse information regarding the company’s business, prospects and operations.
Active futures trading in Chinese commodity markets may generate higher volatility in liquidity and prices, which could transfer to the international market while China starts to gain pricing power in base metals and bulk commodities, Citi said.
Spot demand for primary aluminium in the US, Europe and Japan has essentially vanished because the recent run-up in London Metal Exchange prices is seen a fleeting and not backed by the fundamentals.
Primary aluminium production at Norsk Hydro climbed four percent year on year during the first quarter of 2016 but profits continued to decline due to lower metal prices, it said.
India’s Hindalco Industries, which owns 51 percent of the Australia-listed copper miner Aditya Birla Minerals (ABM), intends to accept Metals X’s improved takeover for the latter.
Total profits among China’s non-ferrous metal smelters and fabricators contracted 4.3 percent year-on-year to 25.14 billion yuan ($3.87 billion) in January-March, according to data published by the Chinese National Bureau of Statistics.
Antofagasta’s copper output rose 7.3 percent in the first quarter of the year compared with the same quarter a year before.
The Shanghai Futures Exchange (SHFE) has introduced another measure to curb trading volatility in its ferrous metals contracts, this time by cutting its night trading hours for its rebar and hot rolled coil contracts by two hours starting May 3.