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May 24, 2022

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Column: China lifts metals exports as Western supply chains buckle: Andy Home

Reuters
LONDON, May 12 (Reuters) – China exported 45,260 tonnes of primary aluminium in March, the highest monthly total since April 2010, with almost half of it to the Netherlands. The month before 20,000 tonnes of metal left China destined for Montenegro and another 5,000 tonnes for Italy. Exports of unwrought......

Musk says he would reverse Twitter ban on Donald Trump

Reuters
May 10 (Reuters) – Billionaire Elon Musk said Tuesday he would reverse Twitter’s ban on former U.S. President Donald Trump when he buys the social media platform, the clearest signal of Musk’s intention to cut moderation of the site. Musk, the world’s richest person and chief executive of Tesla Inc,......

Global scramble for metals thrusts Africa into mining spotlight

Reuters
A truck exits the mine after collecting ore from 516 metres below the surface at the Chibuluma copper mine in the Zambian copperbelt region, January 17, 2015. REUTERS/Rogan Ward/File Photo Register now for FREE unlimited access to Reuters.com Register JOHANNESBURG, May 8 (Reuters) – The need to secure new sources......

Brazil’s Vale signs long-term deal to supply Tesla with nickel

Reuters
Brazilian mining company Vale SA logo and trading symbol are displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., December 6, 2017. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com Register SAO PAULO, May 6 (Reuters) – Brazilian miner Vale SA......

Russia’s Potanin dodges politics and sanctions to flourish

Reuters
May 4 (Reuters) – So far, at least, “Nickel King” Vladimir Potanin is Russia’s ultimate survivor. Unlike many of Russia’s notable oligarchs, he has not been sanctioned by the United States or the European Union for his closeness to President Vladimir Putin. And as Western companies quit Russia because of......

Brazil’s Vale first-quarter net profit falls 19.6%, but beats expectations

Reuters
A view shows the company logo of Brazilian mining company Vale SA at its headquarters in downtown Rio de Janeiro August 20, 2014. REUTERS/Pilar Olivares Register now for FREE unlimited access to Reuters.com Register SAO PAULO, April 27 (Reuters) – Brazilian miner Vale (VALE3.SA), one of the world’s largest producers......

BMW CEO warns against electric-only strategy

Reuters
NEW YORK, April 14 (Reuters) – BMW (BMWG.DE) Chief Executive Officer Oliver Zipse said companies must be careful not to become too dependent on a select few countries by focusing only on electric vehicles, adding that there was still a market for combustion engine cars. “When you look at the......

Column: Vanishing LME shadow stocks add to metals market turmoil: Andy Home

Reuters
LONDON, April 13 (Reuters) – The total amount of registered metal in the London Metal Exchange’s (LME) global warehouse network fell below 1 million tonnes in March. Exchange stocks of aluminium, copper, lead, nickel, tin and zinc haven’t been this low since the last century. The visible clear-out has been......

Column: Warning bells sound in London Metal Exchange zinc market: Andy Home

Reuters
Traders work on the floor of the London Metal Exchange, in London, Britain September 27, 2018. REUTERS/Simon Dawson Register now for FREE unlimited access to Reuters.com Register LONDON, April 11 (Reuters) – Is zinc going to be the next nickel? Even as the London Metal Exchange (LME) tries to reassemble......

Column: Mass exit from nickel market opens up a volatility trap: Andy Home

Reuters
LONDON, April 5 (Reuters) – The good news for the London Metal Exchange (LME) is that its nickel contract is trading again after last month’s chaotic suspension. Average daily nickel volumes inevitably dropped sharply in March relative to February but were only 2% below those of March last year, which......

UK regulators probe LME’s halt to chaotic nickel trading

Reuters
Traders work on the floor of the London Metal Exchange, in London, Britain September 27, 2018. REUTERS/Simon Dawson Register now for FREE unlimited access to Reuters.com Register LONDON, April 4 (Reuters) – British financial regulators launched a sweeping probe on Monday into how the London Metal Exchange (LME) suspended chaotic......

Australia sees global uncertainty driving resource export earnings to record

Reuters
A stacker unloads iron ore onto a pile at a mine located in the Pilbara region of Western Australia December 2, 2013. REUTERS/David Gray/File Photo Register now for FREE unlimited access to Reuters.com Register April 4 (Reuters) – Australia’s mining and energy export earnings are forecast to reach a record......

Biden spurs record emergency oil release in ‘moment of peril’ for world

Reuters
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif Register now for FREE unlimited access to Reuters.com Register WASHINGTON, March 31 (Reuters) – President Joe Biden on Thursday launched the largest release ever from......

Column: Copper may be too relaxed about Russian supply threat: Andy Home

Reuters
LONDON, March 23 (Reuters) – Doctor Copper has sat serene amid the chaos engulfing London Metal Exchange (LME) trading this month. The London copper market was briefly shaken by the margin meltdown that triggered the March 8 suspension of the LME nickel market with a short-lived spike up to a......

Volkswagen joins with Huayou Cobalt, Tsingshan to battle runaway costs for EV batteries

Reuters
The charging plug of an electric Volkswagen Passat car is pictured at charging station at a VW dealer in Berlin, Germany, February 2, 2016. REUTERS/Fabrizio Bensch Register now for FREE unlimited access to Reuters.com Register SHANGHAI, March 21 (Reuters) – Volkswagen Group China said on Monday it will form joint......

Column: LME rips up its free-market rule-book to tame wild metals: Andy Home

Reuters
LONDON, March 17 (Reuters) – You can tell the London Metal Exchange (LME) is new to price limits. The venerable 145-year-old institution’s first attempt to restart its broken nickel market was over in chaotic minutes on Wednesday as the price immediately fell to – and briefly through – the lower......

Aluminium set for big weekly fall in volatile market

Reuters
LONDON, March 11 (Reuters) – Aluminium rose on Friday but was down nearly 10% this week amid heightened market volatility after uncertainty about exports from Russia pushed prices to record highs. Russia produces around 6% of the world’s aluminium and is a major producer of copper and nickel, precious metals,......

Aluminium claws back losses as traders grapple with Russia risk

Reuters
LONDON, March 10 (Reuters) – Aluminium clawed back some of the previous day’s losses as uncertainty over supply from Russia ramps up price volatility. Benchmark aluminium on the London Metal Exchange (LME) was up 2.5% at $3,424 a tonne at 1719 GMT, having earlier been up 6.5%. Used in transport,......

LME suspends nickel trading after prices soar past $100,000

Reuters
Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson Register now for FREE unlimited access to Reuters.com Register LONDON, March 8 (Reuters) – The London Metal Exchange (LME) halted nickel trading on Tuesday after prices doubled in just hours to a......

Oil, commodities surge amid selloff in global shares

Reuters
Updates prices; adds oil’s close, analyst comments NEW YORK, March 7 (Reuters) – Oil and other commodities prices soared while global shares tanked on Monday as the United States said it was willing to ban Russian oil imports, stoking investor fears over inflation and slowing economic growth. Brent, the international......

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