ASIAN MORNING BRIEF 21/11: LME nickel, copper jump on LME; trade conflicts in store for Chinese aluminium; EV batteries won’t spur nickel in near term, Nornickel says

The latest news and price moves to start the Asian day on Tuesday November 21.

Nickel and copper prices made significant gains on the London Metal Exchange before the close of trading on Monday November 20. Read more in our live futures report.

China’s aluminium industry is facing trade conflicts over foils and other products, Liu Danyang, deputy director general of the Trade Remedy and Investigation Bureau, said at the China Aluminium Forum held in Fuzhou last week.

Nornickel, the world’s largest refined nickel producer, is skeptical that electric vehicle (EV) and battery demand will spur the nickel market higher in the near and mid-terms.

The adoption of China’s “Go Out” policy by domestic market participants to secure a steady inflow of foreign-sourced raw materials will determine the future of the Chinese aluminium industry, the vice president of Aluminium Corp of China told delegates at the China Aluminium Forum in Fuzhou on November 16.

Concord Resources has signed an exclusive multiyear alumina supply and metal offtake agreement with the Aldel aluminium smelter in the Netherlands, the trading company confirmed on Monday.

Finally, after 37 years in power, Robert Mugabe has been sacked as the leader of Zimbabwe’s ruling party and is under intense pressure to step down as the country’s president. What might this mean for investment in the mineral rich-nation?

What to read next
Fastmarkets proposes to extend the shipment window of its alumina index inferred, fob Brazil, to allow for greater inclusion of reported liquidity, and to increase the frequency of publication to weekly.
Following a month-long consultation period, Fastmarkets has amended the methodology for the bi-weekly assessment of the aluminium P1020A main Japanese ports (MJP) spot premium, to include domestic tenders and deals from the Japanese market.
Fastmarkets proposes to discontinue its ferrous scrap consumer buying price for cast iron borings in Pittsburgh due to a lack of liquidity.
Fastmarkets is proposing a realignment of its consumer buying price for ferrous scrap No1 busheling in Cincinnati and Pittsburgh, effective from the May 2023 monthly settlement.
A drive by electric vehicle (EV) manufacturers to improve the affordability of their cars may upend an expectation by some market observers that future EV dominance of automotive production will sharply reduce demand for special bar quality (SBQ) steel
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.