DAILY ROUND-UP – FastMarkets on Hindustan, US MW ali premium and steel billet

A round-up of FastMarkets’ top stories published on March 3:

Hindustan Zinc (HZL) has played down the impact of an issue at its Rampura Agucha zinc mine that briefly compromised its concentrate production and its output of refined metal – despite local premiums soaring last week.

The US Midwest aluminium premium had shown remarkable resilience but it is now moving lower due to tight LME spreads and some fresh demand concerns.

Copper futures rose for the fourth straight day as investors anticipate additional stimulus measures at the conclusion of a Chinese planning meeting.

LME steel billet prices have fallen precipitously in the last 24 hours, with a 57-percent decline in the cash price to what is the lowest since the contract was introduced eight years ago.

Canadian Zinc Corp has signed agreements to sell zinc and lead concentrates at its Prairie Creek Mine in Canada to Korea Zinc and Boliden.

KGHM’s total impairment losses after including tax amount to $1.289 billion (5.063 billion zloty). It also updated its commodity price forecasts to conform with current market consensus and reviewed its previous calculations of carrying amount and recognised impairment numbers.

Jack Carlson, Southwire’s president of North America, has retired from his role, the US-based cable producer said in a release.

Trafigura’s investment arm Galena will provide the financing of up to $20 million to fund placing the Kapulo copper mine in Congo on care and maintenance.

 

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.