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May 24, 2022

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Column: European smelter hits mean another year of zinc shortfall: Andy Home

Reuters
LONDON, May 16 (Reuters) – The global refined zinc market is expected to register a supply shortfall of 292,000 tonnes this year, according to the International Lead and Zinc Study Group (ILZSG). It will be the second consecutive year of deficit after global production fell short of demand to the......

Trevali says caught unawares by downpour that flooded Burkina mine

Reuters
PERKOA, Burkina Faso, May 13 (Reuters) – Executives at Canada-based Trevali Mining Corp (TV.TO) said the company was caught unawares by a torrential downpour during the dry season last month in Burkina Faso that left eight men trapped underground in its Perkoa zinc mine. Rescue efforts are continuing since the......

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......

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......

Column: Ukraine crisis rocks the London Metal Exchange: Andy Home

Reuters
LONDON, March 14 (Reuters) – The war in Ukraine has engulfed the 145-year-old London Metal Exchange (LME), which sits at the epicentre of the global trade in industrial metals. What Russia terms its “special operation” has broken the LME nickel contract and forced the exchange to impose emergency measures across......

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,......

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......

LME nickel spikes over 22% on Russia supply worries

Reuters
March 7 (Reuters) – London nickel prices soared more than 22% on Monday, leading a rally in industrial metals, as supply fears grew in the wake of an escalating Russia-Ukraine conflict and mounting sanctions against Moscow. Three-month nickel on the London Metal Exchange had surged 22.1% to $35,305 a tonne......

LME aluminium hits record high as Russia sanctions fuel supply woes

Reuters
Feb 28 (Reuters) – London aluminium surged to a record high on Monday as fears of supply disruptions jumped after Western countries ratcheted up sanctions on Russia for invading Ukraine, including blocking some banks from the SWIFT global payments system. Russia produces about 6% of the world’s aluminium and accounts......

LME aluminium slips from record high as investors assess supply risks

Reuters
Feb 25 (Reuters) – London aluminium on Friday eased from a record high touched in the previous session as uncertainty over supply from Russia dragged prices after more sanctions were slapped on the major metals producer for invading Ukraine. European Union leaders imposed new economic sanctions, joining the United States......

London nickel hits highest in over a decade as supply tightens

Reuters
Feb 21 (Reuters) – London nickel prices rose on Monday to their highest in more than a decade, boosted by low inventories, while investors were cautious over the Ukraine tensions. U.S. President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine, the French......

Column: LME warehousers slash capacity as metal stocks drain away: Andy Home

Reuters
LONDON, Feb 17 (Reuters) – Glencore’s (GLEN.L) decision to sell its warehousing and logistics business looks like a well-timed call on the metals storage market. It bought Access World in 2010 in the wake of the financial crisis, which generated a surge of metal, particularly aluminium, into London Metal Exchange......

Copper slips as Russia-Ukraine jitters weigh on sentiment

Reuters
Feb 17 (Reuters) – Copper prices fell on Thursday as investors were cautious amid growing uncertainty surrounding Russia-Ukraine tensions, while the dollar firmed making greenback-denominated metals more expensive. Russian-backed separatists in eastern Ukraine accused government forces on Thursday of opening fire on their territory four times in the last 24......

Copper leads losses on firm dollar, but base metals set for weekly gains

Reuters
Feb 11 (Reuters) – London base metals fell in Asian trading on Friday, led by copper, as the dollar firmed after a stronger-than-expected U.S. inflation data stoked worries about a more aggressive policy tightening by the Federal Reserve. Benchmark copper on the London Metal Exchange was down 3% at $9,943.50......

Supply fears push aluminium to 13-1/2-year highs

Reuters
LONDON, Feb 9 (Reuters) – Aluminium prices rose to 13-1/2 year highs on Wednesday as a supply shortfall caused by smelter closures in Europe and China ate further into exchange stockpiles. Smelters have cut output due to high energy prices and a crackdown on polluting industry in China, where power-hungry......

Aluminium prices rise to four-month high on supply worries

Reuters
Feb 8 (Reuters) – London aluminium prices hit a near four-month high on Tuesday boosted by dwindling inventories, while coronavirus curbs in the Chinese city of Baise has hit transportation of alumina raising concerns over a potential cut in production. Three-month aluminium on the London Metal Exchange was up 1.2%......

Shanghai aluminium rises 3% on supply woes, low inventories

Reuters
Feb 7 (Reuters) – Shanghai aluminium prices jumped 3% on Monday to hit a 3-1/2-month high, following a week-long Lunar New Year holiday, with the market bolstered by supply concerns and as inventories in London touched their lowest levels since 2007. The most-traded March aluminium contract on the Shanghai Futures......

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