IN CASE YOU MISSED IT: 5 key stories from August 28

Here are five Fastmarkets MB stories you might have missed on Wednesday August 28 that are worth another look.

Australian lithium spodumene producer Galaxy Resources has bought Alita Resources’ debt for $31.1 million, including interest, fees and costs.

Chinese aluminium producers are ramping up production on improved aluminium prices, with output at one smelter – Shanxi Meixin Industry – now running at full capacity of 300,000 tonnes per year, sources have told Fastmarkets.

Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.

The Shanghai copper cathode premium was higher in the week to Tuesday August 27, marking the fifth uptick this month largely due to emerging tightness in SX-EW availability, while broadly stagnant demand over the summer period has limited spot business in Europe and the United States.

Quieter market conditions in the United States ahead of the national Labor Day holiday in early September caused the US zinc premium to fall on the top end of its range on August 27, while increased demand for secondary lead due to the smelter shutdown at Port Pirie supported the secondary lead premium in Taiwan.

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After a consultation, Fastmarkets is increasing the publication frequency of its non-exchange-deliverable equivalent-grade (EQ) copper cathode premium, CIF Shanghai, from once a week to twice a week.
New plans to introduce block trades for bilaterally negotiated transactions on the London Metal Exchange are aimed at enhancing liquidity and transparency without harming the exchange’s core physical user base, chief executive officer Matthew Chamberlain told Fastmarkets.
The London Metal Exchange has unveiled a series of proposals which, if successful, could accomplish what it failed to achieve close to a decade ago: bringing the investment community into the fold.
The primary aluminium premium for duty-unpaid units in Rotterdam edged higher in the week to Tuesday September 3, while the wider European market found continued support from high replacement costs and tight nearby inventories despite slow consumer demand.
Market participants are converging on Bali in Indonesia for the Fastmarkets International Critical Minerals & Metals Summit (ICMMS) on September 5 and 6, so ahead of the event, we capture the main themes facing the global nickel market.
Fastmarkets has amended the MB-NI-0256 nickel low-carbon briquette premium, cif global to include all shapes of exchange deliverable Class 1 nickel metal.