In the upcoming October-December quarter, a leading global aluminium producer has proposed a reduced premium of $120 per metric ton to Japanese buyers, marking a 6% decrease compared to the current quarter. Three sources intimately involved in the quarterly pricing negotiations revealed this development on Friday. Japan, recognized as Asia’s primary importer of aluminium, uses the premiums it agrees upon...
Base Metals
Aluminium Prices Face Challenges Amidst Weak Global Demand
Aluminium prices are facing considerable challenges in 2023, as indicated by reports from Australia’s Office of the Chief Economist and research agency BMI. The ongoing weakness in global demand is expected to prevent a recovery in aluminium prices this year. Projections suggest a year-on-year decline of 13% in the London Metal Exchange (LME) aluminium spot price for 2023, largely influenced...
Tsingshan Group Commences Commercial Nickel Production in Indonesian Plant
Tsingshan Group, a prominent Chinese nickel producer, has initiated commercial production of refined nickel in Indonesia, according to three sources familiar with the matter who spoke to Reuters on Monday. The production facility is located in Morowali, Indonesia, with an eventual planned annual capacity of 50,000 metric tons. The sources, who chose to remain anonymous as they lack authorization to...
Russian Scientists Improve Processing Method for Low-Grade Aluminum Raw Materials
Scientists from the V.I. Vernadsky Institute of Geochemistry and Analytical Chemistry of the Russian Academy of Sciences (GEOKHI RAS) have developed a method to eliminate iron and other metals from low-grade aluminum raw materials, resulting in a product that meets industrial requirements. This breakthrough technique enables the extraction of aluminum from nepheline (a byproduct of ore mining), which is abundant...
Namibia and Japan Collaborate on Rare Earth Minerals Exploration
Namibia and Japan have entered into an agreement to jointly explore and develop rare earth minerals, as part of Japan’s endeavors to establish mineral supply chains for the advancement of electric vehicle batteries. The agreement involves Namibia’s state-owned mining company, Epangelo, and the Japan Organization for Metals and Energy Security (JOGMEC), a government agency. The collaboration will encompass a series...
Chile’s Codelco Faces Financial Concerns Due to Project Delays and Escalating Debt
Chile’s prominent copper producer, Codelco, is confronting potential financial strain due to rising costs and mounting debt attributed to projects that have fallen short of output targets, as revealed in a report by Chile’s Centre for Copper and Mining Studies (CESCO), viewed by Reuters. In an uncommon move, the influential industry organization, financed through its organized events’ revenue, expressed concerns...
Exxaro Resources Aims for Cash Reserve, Eyes Clean Energy Mineral Acquisitions
South African coal mining company Exxaro Resources (EXXJ.J) is strategizing to amass a cash reserve of up to 15 billion rand ($788.34 million) in preparation for potential acquisitions, especially in the realm of clean energy minerals, according to statements from company executives on Thursday. Two years ago, Exxaro outlined its intention to broaden its portfolio by acquiring critical mineral assets,...
Analysis of Copper Market Dynamics Amid Rising Net Long Positions and Chinese Inventories
Net long positions in copper on the London Metals Exchange (LME) have surged to a six-month peak, partially driven by dwindling Chinese copper inventory figures. However, industry insiders assert that this often-bullish signal does not necessarily align with the actual market conditions. China, the world’s largest consumer of copper, currently maintains a combined inventory of 110,314 metric tonnes across the...
Sultan Initiates Exploration Phase with Heli-Borne Survey at Lake Grace Site, Aided by Rio Tinto Funding
Sultan Resources (ASX:SLZ) has commenced a helicopter electromagnetic (EM) survey on a section of its Lake Grace property. This move comes after the company entered an option farm-in and joint venture agreement with major miner Rio Tinto (ASX:RIO) in June. The focus of the survey is a robust, yet untested, conductivity anomaly located in the northern part of E70/508. This...
ACG Strengthens Position in Packaging Industry with Acquisition of Technical Aluminium Foil Company
ACG, a Mumbai-based integrated pharmaceutical manufacturing solutions company, has announced its complete ownership of Technical Aluminium Foil Company LLC (TAFC UAE). This strategic step underscores ACG’s expanding presence in the Middle Eastern and African markets, solidifying its growth trajectory. As the sole integrated provider of pharmaceutical manufacturing solutions globally, ACG offers an array of products such as capsules, films, foils,...