EUROPEAN MORNING BRIEF 13/03: SHFE base metals prices broadly weaker; Hawesville Ali smelter restart; strike ends at Nexa’s Cajamarquilla zinc smelter

Good morning from Metal Bulletin’s office in Shanghai as we bring you the latest news and pricing stories on Tuesday March 13.

Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday.

Zinc was the only metal to witness any gains, while nickel prices edged downward following their rally on Monday with negative sentiment stemming from a weaker downstream stainless steel market weighing on prices.

Check Metal Bulletin’s live futures report here.

LME snapshot at 02.47am London time
Latest three-month LME Prices
  Price ($ per tonne)  Change since yesterday’s close ($)
Copper 6,915 2
Aluminium 2,098 7
Lead 2,341 -2
Zinc 3,261 21.5
Tin 21,355 -20
Nickel 13,720 45

SHFE snapshot at 10.54am Shanghai time
Most-traded SHFE contracts
  Price (yuan per tonne)  Change since yesterday’s close (yuan)
Copper 51,830 -130
Aluminium 13,950 -115
Lead 18,180 -265
Zinc 25,080 95
Tin 146,180 -790
Nickel 104,050 -60

Century Aluminum Co’s plans to restart production at its smelter in Hawesville, in the US state of Kentucky, are now official thanks to US President Donald Trump signing the order to levy a 10% tariff on the country’s aluminium imports last week.

A week-long strike by workers with trade union representation at South America’s largest zinc smelter, Cajamarquilla, has ended, owner Nexa Resources has confirmed.

One of Novelis Inc’s rolling mills in Brazil has suffered a roof collapse, causing a delay in deliveries to customers, regional sources told American Metal Market.

Trump’s Section 232 tariffs on imported steel and aluminium will go into effect on Friday March 23 at 12:01am New York time.

Poland’s KGHM has sacked its third chief executive officer in two years, according to a company statement released on March 10.

Historically-low rhenium prices are leading to a decline in the amount of recycled material coming into the market, with several recycling facilities having closed or reduced production.

What to read next
After a month-long consultation period, Fastmarkets is amending the below specifications, following no negative feedback from market participants and internal data analysis. The following changes will take place: The new specifications are 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 […]
The global copper market has finally received the widely anticipated news that imports to the US will be tariffed from August 1. The finer details of the tariffs, including their scope, and whether key copper-exporting nations like Chile, Canada and Peru will be exempt, remain unclear.
LME copper prices took a significant hit following US President Donald Trump's announcement of a potential 50% tariff on copper imports. The uncertainty surrounding the timeline and implementation of the tariff has left market participants hesitant, with analysts noting its immediate impact on price momentum and trading activity.
Fastmarkets has launched MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonne on July 9 due to an expected increase in Indonesia-origin aluminium exports. MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonneQuality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sowQuantity: Min 500 tonnesLocation: FOB IndonesiaTiming: […]
To increase the transparency of our methodology, Fastmarkets clarifies that the quotation period of the MHP nickel payable indicator is the month of delivery, or the month M. Any data points Fastmarkets received otherwise will be normalized to the M month based on the monthly spreads of the prevailing exchange-traded Class-1 nickel reference price, or […]
'Probably miscalculated’ assumptions at Kakula mine force Ivanhoe to overhaul entire Kamoa-Kakula complex, explains CEO Marna Cloete.