DAILY ROUND-UP – FastMarkets on zinc stockpiles and copper TC/RCs

A round-up of the top FastMarkets stories from May 27. 

Base metals ended in positive territory on Friday, with some end-of-month book-squaring taking place ahead of the long weekend.

Scale Distribution, partly owned by Australia’s Macquarie Group, has withdrawn from LME warehouse services with immediate effect. 

The LME has listed a new warehouse company, Verbrugge International BV, in Vlissingen with immediate effect.

Copper concentrate treatment and refining charges (TC/RCs) have risen above $100 for the first time this year – deals are now taking place firmly above the annual benchmark level for 2016.

Spot gold premiums have increased this week in most locations after the international gold price fell to an eight-week low on Friday morning in London, succumbing to weaker oil prices and a stronger dollar.

Bullion market participants are divided on the future of London’s gold market while the London Bullion Market Association (LBMA) mulls ideas for its improvement.

Chinese exports of tin in shapes other than ingot were offered at markedly low premiums at the start of this month when there was a wide differential between LME and SHFE prices.

Zinc has been the darling of metals analysts for years – but every year it falls short. So will 2016 be the year things come together?

 Birla Copper has restarted operations at its Dahej smelter in Gujarat, FastMarkets understands, following a period of maintenance.

Duncan Wanblad, CEO of Anglo American’s base metals business, will add the strategy and business development portfolio of the company to his responsibilities from July, Anglo American said on Friday.

Total profits among China’s non-ferrous metal smelters and fabricators rose 6.6 percent year-on-year to 37.78 billion yuan ($5.76 billion) in January-April, according to data published by the Chinese National Bureau of Statistics (NBS).

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.