IN CASE YOU MISSED IT: 5 key stories from May 7

Here are five Fastmarkets MB stories you might have missed on Tuesday May 7 that are worth another look.

The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries’ trade impasse was likely. US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10.

Gay Huey Evans will be the first female chairperson of the London Metal Exchange, replacing Brian Bender when he retires at end of the year, Fastmarkets understands.

Copper premiums in Shanghai have become less volatile due to there being less financing demand in the market after one of China’s largest copper importers, Tewoo Group, began experiencing liquidity troubles in late March. Tewoo was a hot topic of discussion among delegates attending LME Asia Week in Hong Kong this week.

Hernic Ferrochrome expects to scale down its smelting operations between June 1 and August 31, 2019, amid challenging market conditions, the company announced.

The second quarter has begun on a soft note in the US copper market, with market participants doubtful that premiums will see upward pressure over the summer. Fastmarkets AMM assessed the US copper cathode premium at 7-7.75 cents per lb delivered to the Midwest on Tuesday May 7.

What to read next
It will be very difficult for many Chinese copper smelters to compete with treatment and refining charges (TC/RCs) at record lows, according to the chairman of Chile’s state-owned copper producer Codelco
State-owned miner Codelco is holding talks this week with potential investors in a new smelter project in Chile, the company’s chairman told Fastmarkets on Monday, April 15
Fastmarkets will amend the frequency of its aluminium low-carbon differential P1020A, US Midwest and its aluminium low-carbon differential value-added product, US Midwest as of the assessment on Friday May 3.
Codelco will make a choice on a partner for its lithium properties in the Maricunga salt flat in Chile’s Atacama region in the first quarter of 2025, the chairman of the state-owned producer said on Monday, April 15
Russian brands of metal produced after Saturday April 13 can no longer be delivered to the London Metal Exchange or CME Group following the imposition of new sanctions by the UK and the US
More copper smelters are likely to reduce capacity amid record-low spot treatment and refining charges (TCs/RCs), the chief executive of Chile-based copper miner Antofagasta Minerals said