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

Here are five Fastmarkets MB stories you might have missed on Tuesday March 5 that are worth another look.

The United States Commerce Department launched a Section 232 investigation into titanium sponge imports on Monday March 4 after domestic producer Titanium Metals Corp (Timet) filed a petition in September.

Ferro-chrome prices are likely to be supported in the near to medium term by concerns over South Africa’s power constraints, market sources believe. 

Fastmarkets will host a free web seminar on Monday March 18 at 10am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled alumina and aluminium premiums contracts.

The US spot copper premium, which has held at a four-year high since July 2018, could come under pressure from an anticipated influx of Chinese material, market participants told Fastmarkets AMM.

Domestic iron ore supply in China has limited capacity to ramp up after smaller and higher-cost miners exited the market over the past few years, a local miner said.

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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.
Roughly 40,000 tonnes per month of copper cathode that once flowed smoothly into the United Arab Emirates (UAE) through Jebel Ali had few options to reroute after the Strait of Hormuz officially closed on Monday March 2, with the only alternative entry points — Khor Fakkan and Fujairah — already straining under the weight of diverted cargo, market sources told Fastmarkets.
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