A daily round-up of the top FastMarkets stories from August 22.
The global refined copper industry recorded a production deficit of around 222,000 tonnes in January through May, which equates to a seasonally adjusted deficit of about 181,000, the International Copper Study Group (ICSG) said on Monday.
The CME Group’s aluminium MW US Transaction Premium (AUP) contract on Friday fell it its lowest point since being launched in 2013.
Base metals finished LME trading on Monday in negative territory - data showing higher exports of both aluminium and copper from China soured sentiment.
Cliveden senior trader Paul Bushell is leaving the Zug-based metals trading company after almost five years there, several sources confirmed to FastMarkets.
The LME has halved fees for the month of August to $0.25 per lot per leg per side from $0.50 previously as a goodwill act.
CME Group will expand its base metals portfolio with the introduction of Alumina FOB Australia (Metal Bulletin) futures and Alumina FOB Australia (S&P Global Platts) futures, the exchange said on Monday.
Open interest in the copper contracts on the Shanghai Futures Exchange fell for a fifth straight week last week while fund and investor interest in the metal wanes.
China’s exports of aluminium fabricated products rose 9.9 percent year-on-year to 350,000 tonnes in July, according to final trade data published by the country’s General Administration of Customs.
China’s import of unwrought copper and copper alloy rose 4.1 percent year-on-year but was down 18.4 percent month-on-month to 310,000 tonnes in July, according to final trade data released by the country’s General Administration of Customs.