IN CASE YOU MISSED IT: 5 key stories from June 12

Here are five Fastmarkets MB stories you might have missed on Wednesday June 12 that are worth another look.

German copper refiner Aurubis has released chief executive officer and executive board chairman Jürgen Schachler from his role two weeks prior to his scheduled departure. At the same time, the company has decided to discard its €320-million future complex metallurgy strategy due to higher than expected costs, Europe’s largest copper producer said on Wednesday June 12.

Minor metals could become the next commodities to be caught up in the trade war between the United States and China, market sources have warned. But the effects on the price for gallium and antimony have so far been minimal.

ArcelorMittal, the world’s largest steelmaker, is developing a transformation plan for its Belval and Differdange long steel sites in Luxembourg, a company spokeswoman told Fastmarkets in the week beginning June 10.

The price in Europe for molybdenum oxide rose in the first half of the week ended Wednesday June 12, with a workers’ strike at Molymet’s Nos plant in Chile supporting sentiment in an already tightening market.

London-based commodities broker Sucden Financial has appointed Rafael Caporale as head of its new LME Options Market Making division, the company announced on Wednesday.

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Fastmarkets proposes to discontinue the converted price assessments for the following markets:
Fastmarkets has discontinued the following converted price assessments:
Fastmarkets is proposing to amend the index specifications of its 62% Fe iron ore port index to more closely reflect the chemical composition of mainstream mid-grade ores produced from Australia’s Pilbara region.
The consultation, which is open until October 28, 2022, seeks to ensure that our audited methodologies and price specifications continue to reflect the physical markets for alumina, aluminium, cobalt, copper, lithium and manganese ore, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
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