IN CASE YOU MISSED IT: 5 key stories from November 21

Here are five Fastmarkets MB stories you might have missed on Thursday November 21 that are worth another look.

Chinese stainless steel prices dived over the past week amid a sustained downtrend for nickel futures on the London Metal Exchange.

Press Metal, the largest aluminium producer in Southeast Asia, has finalized a shareholder agreement with Bintan Alumina Indonesia (BAI) for 25% of the company, which will allow the former to “secure a long-term supply of alumina.”

Copper miner Freeport-McMoRan and Chinese smelter Jiangxi Copper have agreed 2020 full-year contractual treatment and refining charges (TC/RCs) at $62 per tonne/6.20 cents per lb, Fastmarkets learned on Thursday November 21.

The Chinese cobalt sulfate price fell again in the latest pricing session, under constant pressure since mid-October from significantly shrinking buying appetite amid a bearish near-term outlook for electric vehicle development.

After a busy few days of meetings and annual contract negotiations, here are nine key takeaways from Fastmarkets’ International Ferro-alloys Conference in Budapest, Hungary.

What to read next
Saudi Arabia, through its spearheading of a mining and minerals production and consumption push in the Middle East, a region usually associated with oil and gas, is leading neighboring countries to increase their presence in the base metals markets
Indonesia is preparing to invest more in its aluminium supply chain as part of its wider critical metals strategy, Fastmarkets understands
Market sentiment remain mixed on whether the investigation will impact aluminium prices and production
Aluminium premiums in all key regions remained well-supported in the week to Tuesday June 18, amid ongoing reports of tight availability, while market participants in Europe and Asia are focusing on ongoing negotiations for Japanese third-quarter supplies
The Kingdom of Saudi Arabia’s (KSA) ambitious plan to diversify away from oil and into metals will increase local nickel consumption and fund international mining projects, given recent massive investments in nickel-intense industries
Fastmarkets proposes to amend the name of the MB-AL-0231 Aluminium P1020A all-in price, delivered Midwest US, US cents/lb to clarify that the price is based on the London Metal Exchange cash aluminium price.