IN CASE YOU MISSED IT: 5 key stories from May 8

Here are five Fastmarkets MB stories you might have missed on Wednesday May 8 that are worth another look.

Jiangxi Copper has become the first Chinese company to receive the green light to set up a large-scale copper scrap processing facility in Malaysia after China’s clamp down on copper scrap imports led to mass scrap diversion to Southeast Asia, two company officials directly involved in the matter told Fastmarkets.

Norsk Hydro will aim to create a more sustainable footprint through the life cycle of its low-carbon aluminium products and solutions, the company’s new president and chief executive officer, Hilde Merete Aasheim, said this week.

Major talking points among copper market participants attending the annual LME Asia Week in Hong Kong this week are whether Chinese copper demand for April and May is weaker compared with previous years and when high domestic copper stocks in China will decrease.

Copper output by Chilean state-owned producer Codelco recovered in March 2019 but remained depressed when compared with last year’s figures, national copper commission Cochilco said on Wednesday May 8.

While spent lead-acid battery and cable lead prices in the United States slipped amid a decline in London Metal Exchange prices and softening demand, market participants shared mixed outlooks, with some anticipating steadiness and others wary of further price declines.

What to read next
The price of tin on the London Metal Exchange has reached highs in April 2024 not seen since 2022, with investors betting on the metal having a significant role in the expansion of renewable energy and for technical purposes, while supply remains uncertain
Nickel premiums stayed flat around the world amid quiet trading in the week to Tuesday April 9.
Stocks of base metals in Shanghai bonded warehouses showed mixed fortunes in March, Fastmarkets has learned
Recent developments in the aluminium industry have provided incremental steps toward the industry’s decarbonization, but green energy sources, inert anodes and end-of-life scrap recycling can offer disruptive advances to achieve this goal, according to Peter von Czarnowski, director of casting technology expansion at Golden Aluminum.
The low-carbon differential for aluminium P1020 in Europe was unchanged in the month to Friday April 5, with market participants reporting decreased interest in low-carbon units.
With excerpts from our quarterly tin round up, we share why we were bullish with our tin price forecast in the first quarter of 2024