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FOCUS: Australia, Peru copper supply gap leaves Chinese smelters short of options

FOCUS: Australia, Peru copper supply gap leaves Chinese smelters short of options China s ban on Australian mined copper import and a lingering Peruvian mine disruption have gone against its smelting industry s original ambition to produce more copper, Fastmarkets understands. The ban coincided with a sharp drop off in raw material supply from key producer Peru, the location of China s only major South American copper mining project Las Bambas, which has been beset by on-and-off blockades from disgruntled local groups. Everybody has been running their stocks [of concentrate] low for a year and the Las Bambas’ delay has made it worse for Chinese smelters, a trading source said.

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First Quantum sees higher copper production over next three years

First Quantum sees higher copper production over next three years First Quantum Minerals expects to achieve higher copper production in the next three years out to 2023, driven largely by its operations in Zambia and Panama. The Vancouver, Canada-based company is forecasting copper production this year of 785,000-850,000 tonnes, up from 779,000 tonnes in 2020. For 2022, First Quantum is expecting copper output of 805,000-860,000 tonnes, increasing to 820,000-880,000 tonnes in 2023. The company was badly affected last year by the Covid-19 pandemic, particularly at its Cobre Panama operations in Panama. Cobre Panama - the only major greenfield project in the copper industry - was placed on care and maintenance on April 7, 2020, after the government ordered a suspension of operations the previous day.

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Inter-merchant trading boosts Europe manganese alloy prices

Inter-merchant trading boosts Europe manganese alloy prices European traders of manganese alloys have been busy in the past couple of weeks, boosting prices of silico-manganese by almost 20% and of high-carbon ferro-manganese by 10% ahead of expected renewed consumer demand in February, according to trade sources and available industry data. Traders have been gearing up for increased consumer demand since December when European steelmakers saw a surprising increase in appetite for steel products used mostly in the automotive and construction sectors for early 2021. While there was only a low level of spot business last month and equally small amounts so far in January, it is in February that manganese alloys suppliers expect a considerable upturn in demand from steelmakers.

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EUROPE HRC WRAP: Domestic prices start to dip on weaker demand, global declines

EUROPE HRC WRAP: Domestic prices start to dip on weaker demand, global declines Prices for domestic steel hot-rolled coil decreased in Northern Europe in the week ended Friday January 22, due to slower buying activity among distributors and a global price decrease. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €711.25 ($865.61) per tonne on Friday, down by €4.75 per tonne week on week, but up by €46.25 per tonne month on month. The calculation of Friday’s index was based on achievable prices heard at €700-720 per tonne ex-works. In Southern Europe, in the meantime, prices have increased week on week, but were likely to stabilize at the current level in the short term, market sources said.

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GLOBAL MANGANESE SNAPSHOT: Alloy gains in US, Europe on strong demand

GLOBAL MANGANESE SNAPSHOT: Alloy gains in US, Europe on strong demand
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