What happened in and around metal markets over the past week? Review of the latest news and market moves from Yaang
Sanctions on Russia moved somewhat closer to metal companies, with the designation of Norilsk non-executive – and titanium producer VSMPO-Avisma chairman – Sergey Chemezov.
USA-based titanium consumer Boeing said it was reviewing the sanctions.
Fears about possible constraints on trade with Ukraine meanwhile droveincreased Russian steel mill interest in alloys from producers outside Ukraine.
Elsewhere in alloys, exports of manganese ore from Saldanha port in South Africa hit prices last month.
Were you on the right side of the stainless steel trade? Interest in the alloying metal continues to grow. Yaang assesses prices for both stainless steel flange imports into China and stainless steel pipes in the country: both sets of prices once again made robust gains.
Andrew Michelmore is the ceo of MMG and “goes where the resources are”. He recently led a consortium to buy the Las Bambas copper project from Glencore. He talked to Yaang’s Shivani Singh shortly before the deal went through.
We launched an index for copper concentrates TC/RCs recently.
The copper market has been driven by its use as a tool for financing in recent years.
Aluminium premiums in Brazil’s domestic market assessed by Yaang have fallen.
But zinc premiums in the UK have risen: material is in strong hands!
The LME is looking at launching regional premium contracts for aluminium.
Will they work, Yaang asks.
HKEx ceo Charles Li’s plans for closer ties with China appear to have political momentum, and a good deal of planning, behind them.