WEEK-IN-BRIEF: Bank cutbacks and sales; Al premiums hit $400; copper’s June squeeze; Glencore’s focus

What passed across Metal Bulletin editor Alex Harrison’s screen this week?

What passed across Metal Bulletin editor Alex Harrison’s screen this week?

A big week for the banks that are still involved in metals. Goldman Sachs has begun to explore the possible sale of its Metro warehousing business, the firm that pioneered the biggest commodities trade since the financial crisis.

But how do potential purchasers value a business that is thesubject of lawsuits and the focus of political attention in the USA? And who might those buyers be?

Read Metal Bulletin’s archive on the warehousing story here.

JP Morgan has cut its metal team in London, Singapore and New York.

Spot aluminium business has picked up in Europe, pushing the premium to historical highs. Click here to read more.

Want to find out more about moves in aluminium premiums? Metal Bulletin follows the market closely: here there’s a review of the development of premiums going back two years.

In LME copper it is all about the June squeeze, three months after a big day in March.

In the physical copper market, all eyes are on a Korean smelter, which shut down on Thursday May 22.

The effect on concentrates demand and cathode supply is likely to be offset by sales from Fangcheng and restart at Gansu.

The froth has come off the nickel price but Citi is a nickel bull and outlines the reasons that it believes the boom has just started. Find out more here.

Nickel is one of the markets where Glencore plays a big role, and supply does not outweigh demand. Ceo Ivan Glasenberg said of another commodity last week: “Prices are coming off because of the expansions from our major competitors.”

The Glencore chief has made no secret of his preference for tight markets. Click here for a commodities 101 based on his comments last year.

He also took aim at claims the company gave preferential treatment to an influential investor in Africa. Find out what Glasenberg said.

Check out the facts on China’s base metal imports

…and on the key points at this year’s Cobalt Development Institute meeting.

Clampdown on Chinese border could lift antimony.

Find out how one China-based company is responding to the problems Chinese nationals are facing in Vietnam.

And, finally, take a look at Metal Bulletin’s new app: it now contains all the prices that we assess, index and publish. The app enables you to access the latest metal news and prices on the move, cache content to view offline, and bookmark news and prices.

Search Metal Bulletin on the app store or visit metalbulletin.com/app for more information.

Tweet @metalbulletin or email editorial@metalbulletin.com with tales of tightening credit, tight markets and borders, and tighter apps.

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