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Base metals like copper, aluminium, nickel and alumina are some of the world’s most frequently traded commodities. With so many forces bearing down on the base metals market, win-win outcomes for negotiations depend on the depth and breadth of your understanding of the market.
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Jiangxi Copper International Trading Co Ltd’s president, Su Li, has stepped down from his role, multiple sources with direct knowledge of the matter confirmed.
Here are five Fastmarkets MB stories you might have missed on Wednesday May 22 that are worth another look.
The liquidation order issued by the government of Zambia, that would allow it to take control of the copper-producing assets held in the African country by global metals producer Vedanta, has sent shockwaves through the global industry.
The Zambian government has filed an official document to the High Court to liquidate the assets of Konkola Copper Mines (KCM), which is majority-owned by Vedanta Resources.
Renewed selling interest on Friday May 17 has capped the upside from the slight rebound mid-last week and the metal markets generally look shaky in the early morning of Monday May 20.
Massive amounts of scrap metal are being held at Malaysian ports for unprecedented inspections and multiple copper cargoes still at sea are being diverted to other Asian countries at big discounts, sources told Fastmarkets.
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