October 2023

Pressure on zinc, copper prices to remain amid higher interest rates, China slowdown: Nexa

Zinc and copper prices are expected to remain under short-term pressure amid uncertainties in the Chinese market, higher interest rates globally and challenges to bringing new supply online, according to Luxembourg-based producer Nexa Resources.

Panama referendum could deal 'severe blow' to global copper market: analyst

It would be “very bad” for the global copper market if Cobre Panamá stopped production due to the forthcoming Panamanian referendum on First Quantum’s right to keep operating the 370,000 tonne per year mine, according to Fastmarkets analyst Andy Cole.

Disappointing China PMI data weighs on LME base metal prices

Disappointing Chinese purchasing managers' index (PMI) data weighed on base metal prices on the London Metal Exchange at the 5pm close on Tuesday October 31.

LME copper prices rise on stock outflows; all other base metals prices lower

Base metals prices on the London Metal Exchange were largely lower across the board during morning trading on Tuesday October 31, with the exception of copper, which continued Monday’s gains.

Disappointing PMI data ends SHFE base metal price rally

Base metal prices on the Shanghai Futures Exchange (SHFE) fell across the board during morning trading on Tuesday October 31 following the release of contracting Chinese manufacturing data on the same day, reversing the gains made the day prior.

Salobo III copper mine in Brazil hits 80% capacity, Vale says

Despite lowering its copper production guidance for this year amid changes at Canadian assets, Vale has been progressing with the operational ramp-up at its Salobo III project in Brazil, hitting 80% throughput, the company said on Friday October 27.

LME base metals mostly up; aluminium rises by 2%

Base metals on the London Metal Exchange were mostly higher at the 5pm close on Monday October 30.

Rio Tinto to supply low-carbon aluminium to Prysmian for use in power grids

Rio Tinto will supply cables manufacturer Prysmian Group with low-carbon aluminium to build a more sustainable North American supply chain for materials needed to expand power grids for the energy transition, the mining company said on Monday October 30.

LME base metal prices mostly higher at start of trading week

Base metals prices were mostly higher at the open of trade on the London Metal Exchange on Monday October 30, with macroeconomic tailwinds from China providing price support for most base metal contracts.

Global South will play major role in absorbing EU’s non-ferrous scrap surpluses: VDM

Countries like India, Pakistan, Malaysia and Thailand are critical "valves" that absorb surpluses or specific metal scrap grades from the European Union (EU) and must therefore continue to be included in future trading structures, the Association of German Metal Traders and Recyclers (VDM) said in a report released on October 18.