IN CASE YOU MISSED IT: 5 key stories from September 26

Here are five Fastmarkets MB stories you might have missed on Thursday September 26 that are worth another look.

Traded volumes and open interest have remained high for the CME’s aluminium premiums futures contracts even after spot market volatility eased this year, Sean Kessler, manager of metals products at the Chicago Mercantile Exchange said on Wednesday September 25.

China’s domestic stainless steel prices rose late last week on costlier nickel, and maintained those gains over the first three days of this week.

The global refined copper market was in a deficit of 220,000 tonnes in the first half of 2019, up from a deficit of 177,000 tonnes in the same period in 2018, the International Copper Study Group (ICSG) said this week.

Mining and metallurgical group OM Holdings has warned that third-quarter manganese ore production at its Bootu Creek mine in Australia’s Northern Territory will drop by 103,000 tonnes following a fatality in August.

Current seaborne market conditions have prompted Vale to cut its iron ore pellet production guidance for 2019 to 43 million tonnes from 45 million tonnes previously, the Brazilian mining company said on September 26.

What to read next
The US aluminium industry is experiencing challenges related to tariffs, which have contributed to higher prices and premiums, raising questions about potential impacts on demand. Alcoa's CEO has noted that sustained high prices could affect the domestic market. While trade agreements might provide some relief, analysts expect premiums to remain elevated in the near term. However, aluminum demand is projected to grow over the long term, supported by the energy transition and clean energy projects. To meet this demand, the industry will need to increase production, restart idle smelters and address factors such as electricity costs and global competition.
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China has launched a coordinated crackdown on the illegal export of strategic minerals under export control, such as antimony, gallium, germanium, tungsten and rare earths, the country’s Ministry of Commerce announced on Friday May 9.
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The US-China trade truce announced on May 12 has brought cautious optimism to China’s non-ferrous metals markets, signaling a possible shift in global trade. Starting May 14, the removal of additional tariffs has impacted sectors like battery raw materials, minor metals and base metals such as zinc and nickel, with mixed reactions. While the improved sentiment has lifted futures prices and trade activity, the long-term effects remain unclear due to challenges like supply-demand pressures and export controls.