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Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.
Metals trader Glencore has reshuffled its cobalt team, with David Brocas leading the company’s cobalt trading since Franck Schulders has gone on sabbatical.
Merger and acquisition activity in the lithium supply chain has caught the attention of investors, causing share prices to jump for new and upcoming projects. Meanwhile, traditional producers have struggled with low product sales prices and an oversupplied market.
The Federal Court in Belém, Brazil, lifted a production embargo on Norsk Hydro’s Alunorte alumina refinery under a civil lawsuit on May 15.
Demand for stainless steel in China’s domestic market was steady over the past week, but trade tensions between the country and the United States are starting to show signs of weighing on prices.