WEEK-IN-BRIEF: Sanctions move closer to metal companies; Michelmore interview; UK zinc premiums; Li video; costly spat

What happened in and around metal markets over the past week? Review of the latest news and market moves from Metal Bulletin editor Alex Harrison

What happened in and around metal markets over the past week? Review of the latest news and market moves from Metal Bulletin editor Alex Harrison

Sanctions on Russia moved somewhat closer to metal companies, with the designation of Norilsk non-executive — and titanium producer VSMPO-Avisma chairman — Sergey Chemezov.

USA-based titanium consumer Boeing said it was reviewing the sanctions.

Fears about possible constraints on trade with Ukraine meanwhile drove increased Russian steel mill interest in alloys from producers outside Ukraine, as Metal Bulletin senior correspondent Janie Davies reported.

Elsewhere in alloys, exports of manganese ore from Saldanha port in South Africa hit prices last month.

Were you on the right side of the nickel trade? Interest in the alloying metal continues to grow. Metal Bulletin assesses prices for both nickel ore imports into China and nickel pig iron in the country: both sets of prices once again made robust gains.

Andrew Michelmore is the ceo of MMG and “goes where the resources are”. He recently led a consortium to buy the Las Bambas copper project from Glencore. He talked to Metal Bulletin’s Shivani Singh shortly before the deal went through. Read the interview here.

We launched an index for copper concentrates TC/RCs recently. Find out here about the latest moves in the copper concentrates market.

And a throwback here to copper correspondent Mark Burton’s video, explaining why we started the index, and how it works.

The copper market has been driven by its use as a tool for financing in recent years. There are reports that China’s banking regulator may soon lift the minimum deposit and take other steps to rein in this resilient business.

Aluminium premiums in Brazil’s domestic market assessed by Metal Bulletin have fallen.

But zinc premiums in the UK have risen: material is in strong hands!

The LME is looking at launching regional premium contracts for aluminium.

Will they work, Metal Bulletin columnist Lord Copper asks.

HKEx ceo Charles Li’s plans for closer ties with China appear to have political momentum, and a good deal of planning, behind them. Read our spotlight here.

But is it something to dance about? Check out the video.

Trading company Gunvor is hiring in Shanghai’s free-trade zone. Find out more here.

How much did a spat between the managements of two companies wipe off their combined values in April?

Alex Harrison
aharrison@metalbulletin.com
Twitter: @alexharrison_mb

What to read next
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
Century Aluminum is among those selected to start award negotiations for up to $500 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding to build a new aluminium smelter, the company said on Monday March 25
Participants in the copper concentrates market are struggling to comprehend an “unstoppable” decline in treatment and refinement charges (TC/RCs), with every week bringing spot deals at fresh lows and rumors each “crazier” than the last, sources have told Fastmarkets
The US Department of Energy selected five base metals projects to receive more than $900 million in federal investment from its Industrial Demonstration Program (IDP), leading to a reduction of four million tonnes of carbon dioxide emissions annually, according to a statement by the Department on Monday March 25
Aluminium producer and recycler Constellium announced on Tuesday March 12 that the company is moving to test hydrogen utilization at an industrial scale as a power source in its casthouses
Fastmarkets has corrected its MB-ALU-0002 alumina index, fob Australia and its MB-ALU-0010 alumina inferred index, fob Brazil, which were published incorrectly on Monday March 18.