A daily round-up of the top FastMarkets stories from May 13:
Base metals continued to look vulnerable, struggling to maintain gains in Friday LME trading following Thursday’s declines.
CME Group has been aggressively growing volumes and marketshare in the copper sector via a strong push into Asia, industry experts tell FastMarkets.
Copper concentrate treatment and refining charges (TC/RCs) have risen further over the past few weeks, with smelters now starting to buy spot material at levels around the annual benchmark for the first time this year.
Physical demand for gold was mixed this week - despite the drop in the international price, buyers continue to hold off in the hope of an even lower price.
- China Minmetals has started production of copper cathodes at its 100,000-tonne-per-year Shuikoushan smelter in Hunan province, FastMarkets understands.
Speakers at Metal Bulletin’s nickel conference here this week were divided on whether the surprisingly strong demand for nickel from China’s stainless steel sector in the first quarter of the year is sustainable.
Noble Group has appointed Paul Jackaman as Group Chief Financial Officer, the company said in a filing to the Singapore Exchange on Friday.
The deficit in the aluminium market, excluding China, is expected to widen to 2.4 million tonnes in 2016, from 1.2 million tonnes last year, said Rusal in its January-March financial result statement on Friday.
Rusal’s adjusted net profit fell 89.1 percent year-on-year to $27 million in January-March, the Russian aluminium producer said on Friday.
India’s Vedanta posted lower EBITDA for its aluminium and zinc businesses in its fiscal year ended March 2015, the company announced.