December 2020

PEOPLE MOVES: Ulas Alkan moves to VTB Capital

Ulas Alkan has joined VTB Capital, where he will trade a range of commodities in the base metals space, Fastmarkets understands.

SHFE STOCKS REPORT 18/12: Lead inventory climbs 17%; zinc stocks down by 11%

Lead stocks in Shanghai Futures Exchange-registered warehouses rose by the most in percentage terms, while zinc was the biggest faller in the week to Friday December 18.

LIVE FUTURES REPORT 18/12: LME copper price hovers around $8,000/t; hopes for US stimulus support

The London Metal Exchange three-month copper price stood at $7,986 per tonne at 9am on Friday December 18, having surpassed $8,000 per tonne in early morning trading, while the complex on a whole continues to benefit from a low US dollar index and hopes for a US economic recovery stimulus deal.

MORNING VIEW: Copper passes $8,000/t, broader markets tread water in high ground

Base metals prices on the London Metal Exchange were higher across the board on the morning of Friday December 18, with copper trading above $8,000 per tonne earlier for the first time since 2013.

IN CASE YOU MISSED IT: 5 key stories from December 17

Here are five Fastmarkets stories you might have missed on Thursday December 17 that are worth another look.

Alcoa forced to press pause on San Ciprián curtailment

Alcoa is halting plans to curtail its San Ciprián aluminium smelter in Spain after a Spanish court ruled in favor of the workers on Thursday December 17.

LIVE FUTURES REPORT 17/12: Continued US stimulus talks boost LME aluminium, tin prices to new 2020 highs

The London Metal Exchange three-month aluminium and tin prices set new year-to-date highs during trading on Thursday December 17, while the whole complex is continuing to hold high prices on hopes of a positive outcome in negotiations for a United States economic stimulus package to deal with the Covid-19 pandemic.

LME sustainability plans ‘will not help decarbonization’ of the metals sector, En+ says

The London Metal Exchange recently announced the next steps in its sustainability drive, but En+ Group believes the plans “do not address the industry’s concerns.”

LIVE FUTURES REPORT 17/12: Tin hits $20,000/t in early trading; complex bullish on US stimulus hopes

London Metal Exchange tin’s three-month price came to $20,000 per tonne during early trading while the rest of base metals made gains on Thursday December 17 morning on bullish market hopes of the passing of a US economic stimulus package to deal with the Covid-19 pandemic.

Rio Tinto names Jakob Stausholm as new CEO

Jakob Stausholm will become the new chief executive officer of mining major Rio Tinto at the start of next year, the company announced on Thursday December 17.