February 2023

Global aluminium premiums yet to react to US tariffs on Russia, remain largely stable

Global aluminium markets were largely stable during the week to Tuesday February 28 with near spreads in contango on the London Metal Exchange supporting carrying metal, but participants remained cautious of potential effects of the recent United States tariff increase on Russia.

Mixed picture for LME base metals prices, nickel down 2.8%

Three-month base metals prices on the London Metal Exchange showed mixed fortunes at the 5pm close of trading on Tuesday February 28. Copper pushed up by 1.8%, but tin and nickel both came under pressure and fell by 2% or more.

Provenance a problem for US tariff on Russian aluminium – Hotter on metals

The US intends to impose a 200% tariff on imports of Russia-origin aluminium, as well as derivative products containing it.

LME suspends warranting of Russian aluminium, copper, nickel, lead in US warehouses

The London Metal Exchange has, with immediate effect, suspended the warranting of any new Russian-origin primary aluminium, copper, lead, nickel or aluminium alloy in LME-listed warehouses in the United States, the LME announced on Tuesday February 28.

Base metals muted, except copper, which rises by 1.1%

Base metal prices on the London Metal Exchange were muted in morning trading on Tuesday February 28, with copper the only base metal to report significant gains, and the other the base metals continuing to be affected by macroeconomic headwinds.

LME base metals prices hold on to recent gains

Base metals prices on the London Metal Exchange held on to their recent gains at the 5pm close of trading on Monday February 27, with the exception of tin, but this was down by less than 1%.

Most LME base metals recover Friday losses, but still under pressure from rising US Dollar

Base metals prices on the London Metal Exchange continued to show mixed directions in morning trading on Monday February 27, although most regained the losses sustained on Friday.

LME base metals prices continue slide amid macro headwinds

Base metals prices on the London Metal Exchange ended the week to Friday February 24 down across the board, with the exception of lead, under pressure from a variety of macro-economic headwinds.

Hawesville closure a drag on Century’s earnings, a pull on high-purity AL prices

The $159.4 million asset impairment charge Century Aluminium took in 2022 after idling its largest US smelter contributed to its $14.1 million annual loss, the Chicago-based company said on Thursday February 23.

High stock levels keep consumer requirements low despite recovery in automotive demand

High stock levels are keeping consumer requirements low despite a recovery in automotive demand, Fastmarkets has observed.