IN CASE YOU MISSED IT: 5 key stories from August 28

Here are five Fastmarkets MB stories you might have missed on Wednesday August 28 that are worth another look.

Australian lithium spodumene producer Galaxy Resources has bought Alita Resources’ debt for $31.1 million, including interest, fees and costs.

Chinese aluminium producers are ramping up production on improved aluminium prices, with output at one smelter – Shanxi Meixin Industry – now running at full capacity of 300,000 tonnes per year, sources have told Fastmarkets.

Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.

The Shanghai copper cathode premium was higher in the week to Tuesday August 27, marking the fifth uptick this month largely due to emerging tightness in SX-EW availability, while broadly stagnant demand over the summer period has limited spot business in Europe and the United States.

Quieter market conditions in the United States ahead of the national Labor Day holiday in early September caused the US zinc premium to fall on the top end of its range on August 27, while increased demand for secondary lead due to the smelter shutdown at Port Pirie supported the secondary lead premium in Taiwan.

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Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.
On Thursday October 24, the US Department of Treasury and the Internal Revenue Service (IRS) released the final rules regarding the Section 45X credits under the US Internal Revenues Code. The final rules clarify definitions and confirm credit amounts for eligible components, including solar and wind energy, inverters, qualifying battery components and applicable critical minerals. […]
Nickel premiums remained stable worldwide, with the London Metal Exchange's three-month nickel price hitting its lowest point since mid-September.
Imports of cobalt intermediates have continued to rise in China, with January-September volumes already exceeding that of the entire previous year. This excessive inflow has led to an enduring oversupply in the domestic cobalt market, sources have told Fastmarkets
Market participants disagreed over the cause of the long queues to withdraw aluminium from London Metal Exchange-registered warehouses at Port Klang in Malaysia, Fastmarkets heard on Thursday October 17
Copper concentrate treatment charges (TCs) are expected to remain low in 2025, with the market likely to remain tight, sources from across the industry told Fastmarkets.