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Big news in the metal market this week, as Metal Bulletin’s editor Alex Harrison writes in his weekly review.
A judge’s ruling in London stunned many on Thursday March 27, as he backed aluminium producer UC Rusal’s claim that the London Metal Exchange acted unlawfully in its consultation about a warehousing proposal that was due to come in on April 1.
News as it broke
Which way do you think traders see premiums moving?
The likely effect at backlogged ports.
Timeline: Rusal vs LME as it happened.
A full review of the judgement.
Metal Bulletin’s Andrea Hotter sees this as the LME’s Pandora moment.
Metal Bulletin assesses aluminium premiums in Brazil. They are under pressure.
Concerns about the effect on the markets if the USA extends its sanctions on Russia continue to grow as a result of further developments in Ukraine.
Sanctions could hit metal markets.
Alloys markets ‘on tenterhooks’, Metal Bulletin’s Claire Hack writes.
The EU, meanwhile, is drawing closer to Ukraine. What is the value of current trade between them?
Trading firm Wogen signed a multi-year distribution deal.
The nickel price has been moving, with cash trading at $15,765/770 per tonne on an official basis on Friday March 28 from $13,900/905 on January 2: consumers are building buffer stocks and one executive is even talking about a historic price run…
CONSUMER BUFFER STOCK
HISTORIC PRICE RUN
Silico-manganese smelters in Inner Mongolia have cut back as a result of problems stemming from the ore they were using.
Former LME exec has joined CME Group on a consultancy.
Well-regarded metal analyst, instrumental in hedging strategy, has left Nyrstar.
Metal Bulletin is calculating its copper concentrate TC/RC index again on Monday March 31. Click here to sign up for a price history.
Do you work for an aluminium company? Or a company that services the aluminium industry? If so, you should consider nominating your company or its clients for Metal Bulletin’s aluminium awards.
Alex Harrison aharrison@metalbulletin.com Twitter: @alexharrison_mb