ASIAN MORNING BRIEF 08/03: LME base metals end day in red; Aurubis open to M&A opportunities; Atlantic Copper to maximize output at Huelva smelter

The latest news and price moves to start the Asian day on Thursday March 8.

Base metals prices on the London Metal Exchange slumped by the 5pm close on Wednesday March 7, with a sell-off spurred by uncertainty stemming from the latest developments over the United States’ Section 232 probe. Read more in our live futures report.

Here are how LME prices looked at Wednesday’s close:

Europe’s largest copper smelter, Aurubis, is open to exploring merger and acquisition opportunities outside of the continent while it looks to double down on processing and refining raw copper, chief executive officer Jürgen Schachler told Metal Bulletin in an interview.

Spain’s Atlantic Copper will be looking to maximize output at its Huelva smelter even as it expects the copper concentrates market to tighten further, the company’s chief executive officer Javier Targhetta told Metal Bulletin in an interview.

China’s restriction on imports of some copper scrap products has already caused the industry to make some process changes but many questions are still unanswered, a panel of scrap experts said at Metal Bulletin’s 31st International Copper Conference in Madrid.

Around 2.5 million tonnes of copper output is highly exposed to disruption risks this year in Chile, the country’s copper commission said at the conference.

Copper demand derived from the shift to electric vehicles is expected to be constrained by availability of other key metals, including cobalt, a panelist said at the conference.

Japan’s Kobe Steel has rolled out a series of measures to prevent incidents such as its recent data-falsification scandal from recurring again. This includes replacing some of its executives and restricting its management and reporting systems.

Fears about a looming US import duty on aluminium as a result of the country’s Section 232 investigations have dashed hopes of the market taking advantage of a widening aluminium import arbitrage between Asia and the US.

What to read next
Following an initial consultation with the market, Fastmarkets is proposing to:  The new specifications would be as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10 Quantity: Min […]
Fastmarkets’ 2025 outlook for key raw materials and ingredients used in the production and distribution of fast-moving consumer goods.
Vale Base Metals plans to boost annual copper production to 700,000 tonnes by 2035, aiming to become a top-five global producer of nickel and copper. CEO Shaun Usmar highlights a focus on productivity, cost optimization and sustainable growth. With strong assets in Canada and Brazil, Vale is well-positioned to meet rising global demand.
Fastmarkets has corrected its fob Australia alumina index, which was published incorrectly on Monday June 2 and Tuesday June 3 due to a back-end calculation error. Fastmarkets has also corrected all the related inferred indices. On June 2 the following prices were published incorrectly: Fastmarkets’ MB-ALU-0002 Alumina index, fob Australia, was published in error as $375.59 per […]
Mexico’s strategic role in automotive nearshoring is fueling demand for recycled aluminium, with investment in scrap-intensive sectors boosting its non-ferrous secondary markets. Despite tariff uncertainties, USMCA compliance and EV production growth continue to attract global manufacturers.
Goldcorp founder Rob McEwen is back in the spotlight with a bold bet on copper in Argentina. The $2.5 billion Los Azules project, set to become Argentina’s first major copper mine in over 30 years, is reshaping the country’s mining industry while raising sustainability standards. Positioned as a key player in addressing a global copper shortage, the project highlights innovation, persistence and a commitment to meeting the growing demand from global electrification.