A round-up of FastMarkets’ top stories published on January 6.
LME base metals swung away from their early-afternoon lows during late-Wednesday LME trading to close mixed although the moves were end-of-day covering – sentiment remains dour. Comex copper, meanwhile, dipped 0.75 cents to close at $2.0880 per pound.
US Midwest aluminium premium has taken an unexpected step backwards because a mild early winter has freed up excess scrap.
The United States copper cathode spot market has started 2016 slowly as producers are easily able to supply a market that is dealing with subdued industrial demand.
The steep decline in zinc concentrate treatment charges (TCs) early in December appears to have stalled this year, with the market largely returning to relative normality following a rush of spot activity last month.
The mooted purchase of 150,000 tonnes of copper by China’s State Reserve Bureau (SRB) will have only a limited impact on the price, several industry sources said.
Jeremy Isaacs has stepped down from his position as non-executive chairman of Marex Spectron and will be succeeded by Simon Heale.
Malaysia has imposed a three-month ban on bauxite mining in Peninsular Malaysia’s largest state of Pahang effective January 15.
The LME has updated the indicative penalties for members found guilty of misconduct.
Global mining shares came under pressure in London on Wednesday amid ever-gloomier sentiment and growing concerns about a slowdown in demand, particularly from China.
Canada’s Imperial Metals Corp has suspended copper pit operations at its Huckleberry mine in British Columbia, the company said in a release on Wednesday.