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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.