IN CASE YOU MISSED IT: 5 key stories from March 1

Here are five Fastmarkets MB stories you might have missed on Friday March 1 that are worth another look.

Copper-starved London Metal Exchange warehouses could receive a long-awaited influx of metal from an unexpected source, Fastmarkets has learned.

The LME has released its pricing procedures and methodologies for the scheduled release of its cash-settled futures contracts on March 11, highlighting methods in which the bourse will determine daily settlement prices.

Mining operations at Rusal’s 2.3-million-tonne-per-year Bauxite Co of Guyana Inc have been suspended for 14 days due to strike action, with no timeline for the return of workers.

Miners in the Democratic Republic of the Congo are starting to look at blockchain as a way to provide supply chain traceability in compliance with customer and regulatory requirements, Lance Hooper, chief operating officer of Canadian resource company Cobalt Blockchain, said.

Ahead of Fastmarkets’ Battery Materials 2019 conference in Shanghai, Fastmarkets looks at the use of lithium in next-generation vehicles and other battery uses as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material.

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The European Union’s Industrial Accelerator Act (IAA), published on Wednesday March 4, was a new step in the bloc’s efforts to decarbonize heavy industry and to support strategic supply chains in sectors such as steel, cement and aluminium.
Fastmarkets will increase the frequency of its two existing CIF China port copper scrap prices and add three new grades on Monday March 16.
Jeddah in Saudi Arabia and Port of Sohar in Oman are becoming tactical workarounds for base metal exports blocked by the Strait of Hormuz closure, with cargo transiting via land-bridge to other Gulf states, such as Bahrain and the United Arab Emirates – though capacity constraints and elevated logistics costs limit availability, sources with direct visibility of Gulf supply chains told Fastmarkets.
The Mexican aluminium market might be strongly affected by the closure of the Strait of Hormuz, with supply constraints and consequently higher premiums, market participants told Fastmarkets on Tuesday March 10.
Lundin Mining and BHP published a preliminary economic assessment on February 16 for their Vicuña joint venture, projecting average annual copper production of 395,000 tonnes over the first 25 years of operation as Argentina’s copper concentrate pipeline continues to build. PSJ Cobre Mendocino separately confirmed on February 14 that its feasibility study was under way.
Chinese lead smelters turned more bearish on the procurement of raw materials in the week to Friday February 13, amid heightened price volatility in silver, which is often contained in lead ores as an important by-product and contributor to smelter profits, sources told Fastmarkets.