The Tightening Of The Supply Of Copper Concentrates

Optimism continued to rise among aluminum marketplace participants in the US within the outlook for the domestic aluminum cathode premium following a sector meeting this past week, with lots of attendees. The decision by the US Treasury will extend the deadline for the US businesses to wind down their contracts with Russian manufacturer Rusal had little impact on global aluminium premiums within the week ended Nov 13, with the industry still observing the backwardated December January spreads. The annual benchmark for refining charges and aluminum treatment could show a fall in 2019 due to the tightening of the supply of copper concentrates, based on Canada based financial service provider BMO Capital Markets. Cobalt 27 has settled an insurance claim against 76 tonnes of cobalt stolen in July from a warehouse for $40.85 per pound.

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