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Brazil’s national mining agency, ANM, has concluded that Vale failed to report anomalies before a deadly disaster breach occurred at a tailings dam in its Córrego do Feijão mine in January.
A falling US Midwest aluminium premium, stronger currencies in Asia and sustained higher freight rates have limited estimated arbitrage opportunities between aluminium warehouses in Asia and the United States.
Discounts for full-plate nickel cathodes in China swung back into premiums in the week to November 5 and a newly-opened arbitrage import window refreshed spot appetite for material in the region, while buyers in Europe and the United States remained firmly on the sidelines.
China has approved a sixth copper scrap import quota to allow an additional 11,110 tonnes of copper scrap into the country by the end of this year, the environmental ministry said on November 5.
Chinese buyers’ appetite for imported cobalt metal is likely to shrink in the near future because domestic supply is increasing and there is little room for demand to increase, market participants told Fastmarkets.