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The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26 amid emerging liquidity concerns from producers.
There are no concerns surrounding the availability of bauxite to meet ongoing aluminium supply chain growth, industry executives said at Fastmarkets’ 25th Bauxite & Alumina conference in Miami on March 26, noting that the key to ensuring access to it is improving community and government relationships. Additionally, new regulation to decommission upstream tailings dams in Brazil is necessary to ensure the safety of the community but should not reduce bauxite production, Milton Rego, deputy president of Brazilian Aluminium Association Abal, said at the same conference.
MMG will declare force majeure on copper concentrate sales contracts from the Las Bambas mine in Peru, the mining company said on Tuesday in a notice to the Hong Kong Exchange.
Most of Norsk Hydro’s operations are now running at normal capacity one week after the company was hit by a cyber attack, the Norwegian aluminium producer said on March 26.
Physical iron ore prices stayed rangebound for a second day on March 26, with market participants waiting on news of the full impact of Cyclone Veronica on Australian iron ore operations.