IN CASE YOU MISSED IT: 5 key stories from February 7

Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.

Prices in Southeast Asia’s steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.

China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare earths.

Nickel and cobalt producer Ramu NiCo, owned by state-owned Metallurgical Corporation of China, has been sued for $5.4 billion for environmental failures, the latest in a long line of environmental woes to befall the Papua New Guinea operation.

Zinc’s benchmark cash/three-month spread on the London Metal Exchange has moved into contango for the first time in five months after the largest inflow since last April brought on-warrant material to more than 50,000 tonnes.

The coronavirus outbreak in China has severely disrupted logistics in the country, creating a shortage of available truck drivers and rail freight cars, with transport between provinces severely disrupted.

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The influential annual treatment and refining charge (TC/RC) benchmark that sets the price that smelters charge miners to process their copper concentrate could be at risk, according to multiple market sources, although most believe the system, or elements of it, will remain
Fastmarkets' initial low-carbon premium for nickel briquettes captured existing regional price differences, with growing awareness and legislative incentives indicating there is potential for a strong market to emerge
The Chilean government is pushing ahead with plans for a new copper smelter despite the global smelting crisis, Chile’s minister of mining, Aurora Williams told Fastmarkets, adding that the state will also play a key role in developing the country’s premium lithium assets
Just under two weeks ago, the chair of BHP made a phone call to his counterpart at mining peer Anglo American and set in motion a flurry of activity designed to create the largest copper producer in the world
Brazilian aluminium supply coming from Companhia Brasileira de Alumínio (CBA) is said to have tightened, helping to boost the P1020A ingot premium, market participants told Fastmarkets in the two weeks to Wednesday April 24
In anticipation of a tight market, copper concentrate traders have locked in 2025 volumes at notably low treatment charges, with deals being placed well below the long-term industry benchmarks