NON-FERROUS WEEK IN BRIEF: LME ali stocks drop; Largo reports record net income; Gecamines’ case delayed
Date: May 14, 2018
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.
Two of the world’s largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector.South Korea’s Public Procurement Service has floated a tender to procure 1,000 tonnes of Grade-A copper cathode, according to the state agency’s notice.
Chilean copper mine production rose by 30.8% in March from a year ago, a recovery from when the country’s output was severely affected by the 44-day strike at the Escondida mine.
Meanwhile, aluminium stocks at London Metal Exchange-approved warehouses have fallen by more than 100,000 tonnes since the United States slightly loosened sanctions against Russian producer UC Rusal, leading to traders becoming more willing to deal with old stocks.
A 109-day queue for aluminium out of the ISTIM warehouse in Port Klangdeveloped last month following a series of large cancellations on the London Metal Exchange, according to LME data.
With key members of the metals industry gathering for LME Asia Week in Hong Kong from Monday May 14, Metal Bulletin has reviewed the likely topics of discussion.
Also see ‘What’s happening and where?’ for key events taking place during the week.
In people moves, Nicola Burt and Andrew Silver have left Triland Metals to join a rival category-1 member of the London Metal Exchange, CCBI Metdist.
