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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.