IN CASE YOU MISSED IT: 5 key stories from May 9

Here are five Fastmarkets MB stories you might have missed on Thursday May 9 that are worth another look.

Aluminium traders in Europe have been switching business to the Italian port of Trieste in the past month, due to high stock levels leading to opportunistic trading. Market sources told Fastmarkets that the port is ideal for sending material into neighboring Central and Eastern Europe, with trucking costs relatively low.

The Chinese spot alumina price could rise over the course of 2019 despite new capacity planned this year due to new downstream aluminium projects which outpace the raw material’s capacity expansion, Fastmarkets learned during LME Asia Week in Hong Kong this week.

Guangxi Nanguo Copper’s cathode output is unlikely to be affected by a halt of its copper anode operation line in late April, market sources told Fastmarkets MB on the sidelines of LME Asia Week in Hong Kong this week.

The European ferro-molybdenum market moved up again in the first half of the week on the strength in the oxide market amid tight availability, which continues to support the alloy market.

Spot demand for cobalt sulfate in China following the Labor Day holiday (May 1-4) has been weak, with consumers continuing to conduct “hand-to-mouth” procurement, Fastmarkets learned during the latest pricing session.

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Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.
Li-Cycle announced on Thursday October 31 that it had entered an agreement with Glencore to sell 100% of the premium nickel-cobalt mixed hydroxide precipitate (MHP) production at its stalled hub in Rochester, New York – a step that could support Li-Cycle’s efforts to finalize a loan with the US Department of Energy (DOE).
Unprecedented supply tightness and record low treatment and refining charges (TC/RCs) are likely to challenge copper smelters in 2025 – even more than in 2024, sources told Fastmarkets.
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.
Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.
On Thursday October 24, the US Department of Treasury and the Internal Revenue Service (IRS) released the final rules regarding the Section 45X credits under the US Internal Revenues Code. The final rules clarify definitions and confirm credit amounts for eligible components, including solar and wind energy, inverters, qualifying battery components and applicable critical minerals. […]