DAILY ROUND-UP – FastMarkets on US ali imports and nickel fundamentals

A daily round-up of the top FastMarkets stories from July 7. 

Base metals headed back to the lower end of their ranges during late-Thursday LME trading, with copper touching two-week lows against a backdrop of day-trade liquidation and a steadier dollar.

Comex copper futures declined to a two-week low as a stronger dollar weighed on prices.

Imports of primary aluminium and alloy into the US over the first four months of the year surged thanks to large increases in shipments from Russia, the United Arab Emirates (UAE) and Canada.

Century Aluminum will keep open its Mt Holly smelter after renegotiating an agreement with a third party to provide 75 percent of its power requirements.

Rhetoric from the Philippines government on mining may have sent nickel prices to multi-month highs but improved fundamentals are needed to sustain and even extend those highs.

Jean-Marc Germain will assume the role chief executive officer at Constellium effective 11 July 2016, the aluminium product manufacturer announced on Thursday.

The Las Bambas copper mine in Apurimac in Peru has achieved commercial production on 1 July 2016, MMG, the majority owner of the mine.

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.