IN CASE YOU MISSED IT: 5 key stories from July 19

Here are five Fastmarkets MB stories you might have missed on Friday July 19 that are worth another look.

The London Metal Exchange will continue to push forward with relaxing its queue-based rent capping (QBRC) rule, a key area of warehousing reform, to 80 days, sources told Fastmarkets. Fastmarkets understands that there was a warehousing committee meeting on Thursday July 19, during which plans on the warehousing reforms were put to warehousing members.

The zinc price has been fluctuating so much this year that analysts still cannot agree on where it is headed. Commodities researchers from major banks surveyed by Fastmarkets differed by $500 per tonne on their second-half 2019 forecast - that is 23.7% of the galvanizing metal’s current value.

North China copper smelter Baiyin Nonferrous Group’s one-month shutdown in July has had a limited impact on copper concentrates and outright copper prices in China, market sources told Fastmarkets.

Nyrstar lost €31 million ($34.8 million) as a result of closing out inventory zinc and lead hedges in the first half of the year, the company said on Friday July 19.

Chilean molybdenum producer Molymet signed a deal with the trade union representing workers at its MolymetNos plant, ending a month-long strike there, the company said on Thursday July 18.

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.
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