EUROPEAN MORNING BRIEF 01/10: LME base metals down across the board; Alcoa’s alumina workers end strike; chrome ore prices bottom out

Good morning from Fastmarkets MB’s office in Asia as we bring you the latest news and pricing stories on Monday October 1.

Three-month base metals prices on the London Metal Exchange were down across the board during early trading on Monday October 1, pressured by a firmer dollar and the absence of Chinese participants due to a week-long holiday in China.

Check Fastmarkets MB’s live futures report here.

London Metal Exchange, base metals prices

Workers at Alcoa’s Western Australian alumina operations have agreed to end a strike that started on August 8 and return to work on Monday, the Australia Workers’ Union (AWU) announced last Friday.

Market fundamentals in chrome appeared to be supporting prices in China last week, due to lower-than-expected stocks of chrome at Chinese ports and high utilization rates. Check Fastmarkets MB’s latest chrome snapshot for more details.

AMG Mineração, the Brazilian subsidiary of Dutch metals producer Advanced Metallurgical Group NV, has made its first shipment of on-spec lithium spodumene concentrate min 5.5-6.5% from its Mibra mine in Brazil to its long-term offtake partner in China.

Chinese domestic spot battery-grade lithium carbonate prices held at currents level this past week due to improved demand from consumers who were restocking ahead of the week-long National Day holiday (October 1-7), while lithium hydroxide prices drifted lower on quiet demand.

Tshipi Borwa manganese ore production dropped nearly 4.9% in the three months to August 31, compared with the previous quarter, the mine’s owner has announced.