LME zinc price moves downward, eyes on subsequent US economic data
Shanghai: In the morning, spot discounts were 0~10 yuan/mt over the average SMM zinc price. During the second trading session, regular domestic brands were quoted with discounts of 100~120 yuan/mt over the SHFE 2405 zinc contract. Shuangyan zinc was quoted with discounts of 0 yuan/mt over the contract.
Today, the spot price of #1 copper cathode in Guangdong reported discounts of 260-200 yuan/mt against the SHFE front-month contract, and the average discount was 230 yuan/mt, up 20 yuan/mt compared with the previous trading day.
Weekly decline in HRC social inventory narrowed
HRC production at 41 steel mills surveyed by SMM reached 3.4447 million mt in the week ending Apr 25, down 24,100 mt.
Nigeria's $3.2 billion aluminium smelter faces another setback
Nigeria's aspiration for a domestically-produced aluminium industry seems increasingly distant as the $3.2 billion Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, once again fails to meet its long-awaited revival deadline.
Alba ignites first Mitsubishi gas turbine in Power Station 5 (PS 5) Block 4 Project
Aluminium Bahrain B.S.C. (Alba), a prominent player in the global aluminium smelting industry, reached a significant milestone in its Power Station 5 (PS 5) Block 4 Project with the First Fire of the Mitsubishi Power M701JAC Gas Turbine (GT) on April 23, 2024.