IN CASE YOU MISSED IT: 5 key stories from October 1

Here are five Fastmarkets MB stories you might have missed on Tuesday October 1 that are worth another look.

Chilean miner Codelco has increased its United States’ annual copper cathode premium to 3.1 cents per lb for 2020 supply, making it the benchmark’s highest level since 2016, sources close to the matter confirmed to Fastmarkets.

The benchmark premium paid for the supply of aluminium to main Japanese ports (MJP) in the fourth quarter of 2019 has settled at $97 per tonne on a cif basis over the London Metal Exchange cash price.

Adjustments to EU safeguard measures will “stabilize trade flows by containing import concentrations from certain exporting countries,” the European steel association Eurofer said on October 1.

Prices of cobalt metal, salts and hydroxide continued their upward momentum in September, while the chemical prices outperformed amid strong demand incited by concerns of supply tightness following the news on Glencore’s Mutanda mine closure in early August.

Ferro-alloys prices will continue to trade lower going into 2020 amid slowing economic and steel production growth, Fastmarkets analyst, Amy Bennett, told delegates at the North-American Ferro-alloys conference in Chicago last week.

What to read next
Fastmarkets launches MB-CU-0513 copper cathode equivalent grade (EQ), cif Southeast Asia, $/tonne on Tuesday February 20.
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Weak demand continues to stem profitability and prevent capacity return in the European aluminium market, Norsk Hydro’s chief executives told Fastmarkets in an exclusive interview on Wednesday February 14.
The publication of Fastmarkets’ rand fixing prices for LME trade for Monday February 12 were delayed due to a technical issue.
The copper concentrate market was already tight, but the addition of major new smelting capacity this year – starting with the expansion of Freeport’s Gresik smelter in Indonesia — will likely mean maintenance breaks, capacity curtailments and potentially even closures while operating costs start to become untenable, Fastmarkets understands.
Major aluminium producers Alcoa, Rio Tinto and Century Aluminum have been accused of pocketing vast sums of money from the sale of aluminium products to the beverage industry in the US at inflated prices – and of potentially colluding to do so