August 2009

(AMM) Primary metal shipments rise again in July

Primary metal shipments and new orders increased again in July while inventories fell again month over month. The same pattern held true for fabricated metal products, according to U.S. Census Bureau data released Wednesday.

(AMM) Nico may have to use costly diesel power

Canadian miner Fortune Minerals Ltd. may have to use a diesel generator for its Nico development project in Canada's Northwest Territories, a shift that could see electricity costs increase by some two-thirds compared with its previous plan to use hydroelectric power at the site.

Kagara says 2009-10 copper output to fall 38%

Australian miner Kagara said its copper output this financial year will drop 38% while zinc output will rise 71%.

(AMM) Aluminum prices backpedal after speculative run-up

Aluminum futures have settled below the symbolic $2,000-per-tonne mark on the London Metal Exchange for a full week of trading, suggesting that weak fundamentals might finally be catching up with the speculation-driven market.

(AMM) Jilted AB InBev might build ties with Wise Metals

Novelis Inc.'s decision to drop Anheuser-Busch Inbev (AB InBev) as its scrap supplier in favor of a joint-venture buying agency shared with Alcoa Inc. could drive AB InBev into a close relationship with Wise Metals Group, according to scrap sources.

(AMM) Chinese smelter closure launches lead to 11-month high

A widening crackdown on lead production in China sent prices of the metal soaring above $2,000 per tonne on Tuesday, though market sources cautioned the impact on the global supply balance remains unclear.

(AMM) US manganese alloy tags still on rise

U.S. ferromanganese prices continue to log gains on the back of improved demand, with tags remaining cheaper compared with those in the rest of the world, traders told AMM.

(AMM) Canadian Royalties rejects takeover bid

Junior miner Canadian Royalties Inc. has rejected the unsolicited bid by Jien Canada Mining Ltd. on the basis that the takeover offer substantially undervalues the Montreal-based company and fails to recognize the strategic value of the Nunavik Nickel Project in northern Quebec.

DRC’s Inga III project sparks diplomatic row

A diplomatic row is brewing in southern Africa following the Democratic Republic of Congo’s (DRC) decision to partner with BHP Billion to develop the Inga III power project, sidelining its neighbours in the region

Minors prices will take support from Chinese poisoning crackdown, says market

Prices for minor metals including cadmium, bismuth, indium, antimony, manganese and arsenic are likely to take support from smelter shutdowns in China’s Shaanxi, Hunan and Henan provinces, market sources have told MB