November 2020

Alcoa sells aluminium rolling mill to Kaiser for $670mln

Alcoa Corporation will sell its Warrick Operations rolling mill near Evansville, in the US state of Indiana, for $670 million - including $587 million in cash - to Kaiser Aluminum, with the transaction expected to close by April 2021, Alcoa said on Monday November 30.

LIVE FUTURES REPORT 30/11: Copper, aluminium rise to new 2020 highs

Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.

PEOPLE MOVES: Marco Strimer appointed new chairman of LME Clear board

The London Metal Exchange has appointed a new chairman to its LME Clear Ltd board after Richard Thornhill stepped down from the position, the exchange said on Monday November 30.

NEWSBREAK: First MJP aluminium Q1 2021 deal concludes at $125/t – sources

The first deal for the supply of aluminium to main Japanese ports (MJP) for the first quarter of 2021 has concluded at a premium of $125 per tonne cif MJP, multiple sources told Fastmarkets on Monday November 30.

LIVE FUTURES REPORT 30/11: LME copper price hits new 2020 high on positive Chinese data

The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard.

MORNING VIEW: Base metals mainly bullish; copper romps ahead, helped by strong Chinese data

Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers’ index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.

LIVE FUTURES REPORT 27/11: Copper up 4.5% since Monday; nickel, zinc, lead post 2020 highs

Copper’s three-month price was the star performer on Friday November 27, rising by nearly 4.5% from Monday’s closing price, with most other base metals managing to set fresh year-to-date highs.

PRICING NOTICE: Correction to aluminium arbitrage calculations - November 26

Fastmarkets has corrected its daily aluminium arbitrage calculation, which was published incorrectly on Thursday November 26 due to a reporter error.

SHFE STOCKS REPORT 27/11: Base metals stocks fall; nickel down by 7.7%

Except lead and tin, base metals' deliverable stocks in Shanghai Futures Exchange-registered warehouses declined in the week to Friday November 27, with nickel inventories down by 7.7%, the highest decline in percentage terms.

LIVE FUTURES REPORT 27/11: Copper surpasses $7,500/t in morning trading

Copper and nickel continued their bullish momentum on Friday morning, with the red metal surpassing $7,500 per tonne - a price last seen in June 2013.