DAILY ROUND-UP - FastMarkets on physical premiums, Peru copper output and LME sell-off

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Tom Jennemanntom.jennemann@fastmarkets.comSenior North American Correspondent973-204-3383

Winter Park, Florida 03/05/2016 - A round of of FastMarkets' top stories from May 3: 

The physical base metal markets were quiet over the past week while most buyers have been content to sit on the sidelines until exchange prices correct lower.

Base metals - apart from nickel and tin - ended lower on the LME on Tuesday, with copper failing to hold above $5,000.

The LME has amended its accountability requirements to keep the onus of accountability reporting on the exchange and not its members.

Nat le Roux has resigned as an independent director on the London Metal Exchange (LME) and the LMEClear board.

Japan's Toyota Tsusho expects to return to profit in the current fiscal year ending March 2017 after posting a 43.7-billion-yen ($413-million) loss for the last fiscal year.

Peru's copper production climbed 46 percent in March to 188,052 tonnes from 129,076 tonnes a year earlier, the country's Energy and Mines Ministry (MEM) said.

Indonesia's PT Aneka Tambang (Antam) and Germany's Cronimet Holding and Ferrostaal Industrial Projects have signed an agreement to jointly develop a ferronickel plant in Pomalaa, Southeast Sulawesi in Indonesia.

China’s refined copper production rose 8.5 percent year-on-year to 1.99 million tonnes in January-March, according to data published by China’s National Development & Reform Commission (NDRC).

Copper on the Shanghai Futures Exchange fell during Asian trading hours on Monday after the release of weaker-than-expected Chinese manufacturing purchasing managers’ index (PMI).



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