February 2024

Alumar production continues despite stranding of bauxite-cargo ship

Brazilian alumina producer Alumar has seen no effects on either output or the environment from a ship remaining stranded with a cargo of 22,000 tonnes of bauxite in the Coqueiros Strait off Maranhão, in the country’s northeast, since last Saturday, major shareholder Alcoa told Fastmarkets on Wednesday February 20.

LME base metals stabilize but concerns remain over Russian sanctions

Base metals prices on the London Metal Exchange stabilized on Thursday February 22, with most of them posting slight gains, despite the possibility of fresh Russian sanctions weighing on sentiment.

ADC 12 prices in China rebound post LNY; weaker yen pushes MJP prices down

Domestic prices for China’s aluminium ingot ADC 12 climbed in the week to Wednesday February 21 despite muted trading, with market participants still in the process of returning following the Lunar New Year holiday, sources said.

SHFE base metal price moves mixed on concerns of potential sanctions against Russia

Base metal price movements on the Shanghai Futures Exchange (SHFE) were mixed during morning trading on Thursday February 22, with the market continuing to react to recently announced Chinese stimulus measures and potential further sanctions on Russia by the United States.

LME base metals up on concerns of fresh sanctions against Russia

Three-month London Metal Exchange base metals prices pushed up the close on Wednesday February 21, with the exception of tin, which was down marginally. Nickel saw the most movement and was up by more than 3.5%.

Aluminium premiums up in Europe, Brazil, steady in Asia, soft in US

Aluminium premiums showed no clear global trend in the week ended Tuesday February 20, with Europe and Brazil reporting increases, and stability seen in Asian markets, but weakness deepened in the US market.

All LME base metals up in morning trading; aluminium gains 3%

Base metal prices on the London Metal Exchange were higher across the board during morning trading on Wednesday February 21, with aluminium leading the complex higher with a rise of 3%.

SHFE base metal prices mostly up following mortgage rate stimulus

Base metal prices on the Shanghai Futures Exchange (SHFE) broadly rose during morning trading on Wednesday February 21, with the market continuing to show a positive response to the mortgage rate cut announced by China’s central bank a day earlier.

LME base metals prices mostly down on negative Chinese sentiment

Most base metals prices on the London Metal Exchange fell on Tuesday February 20, reflecting market participants’ worries about the Chinese property market.

Mixed LME base metals prices reflects Chinese pessimism, US optimism

Base metals prices on the London Metal Exchange were mixed in early trading on Tuesday February 20, reflecting contrasting economic signs from the US and China.