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Novelis’ acquisition was allowed on the
condition that Novelis divest the Duffel
plant to a buyer that met certain suit-
ability requirements. Both regulators
have now approved Alvance as an
appropriate buyer.
‘The Aleris acquisition provides a strong
pro-forma financial profile for Novelis
with many strategic benefits and contin-
ues to be value accretive, with the long
term outlook in line with the original
acquisition case,’ Novelis says.
ALUMINIUM
Aluminium high-grade quotations on
the London Metal Exchange (LME) have
recovered in the recent weeks and by 2
November they were US$ 1 839 for
three-month goods, higher even than a
year ago. The fixed prices provide relief
to producers in otherwise difficult times.
Aluminium smelters are reporting that
capacities are again being used to an
adequate extent but the market
remains difficult. The global aluminium
market is well supplied: while demand
is unstable, supply remains significant.
The Russian aluminium producer Rusal
exects a global surplus of 1.7 million
tonnes for the first nine months of 2020.
Global demand fell by 2.7% over the
same period and production rose by
1.5%. Negotiations for the 2021 annual
contracts have already begun in some
quarters but they are difficult because
many market participants cannot pre-
dict how their order situation will devel-
op. Caution is the word and it can be
assumed that some of these negotia-
tions will drag on for a long time.
Prices for primary aluminium 99.7 were
around US$ 2 440 per tonne at the
beginning of November. Wire scrap
traded between US$ 1 600 and US$ 1
700 per tonne, extrusions scrap from
US$ 1 670 to 1 780 and turnings
achieved US$ 715 – 840.
COPPER
Copper is also currently with fixed pric-
es on the LME. While the red metal was
market analysis
LME Non-Ferrous Prices & Stocks Reference date: November 6, 2020
/ Aluminium / Copper
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
/ Lead / Zinc
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
O N D J F M A M J J A S O
1809 1805 1799 1764 1705 1536 1491 1486 1597 1671 1722 1759 1896
948 1150 1425 1115 1115 1213 1213 1652 1563 1486 1486 1486 1443
1000
1500
2000
2500
3000
3500
1000
2000
3000
4000
5000
6000
O N D J F M A M J J A S O
O N D J F M A M J J A S O
5932 6000 6186 5965 5687 4854 5085 5241 5984 6533 6728 6707 6808
241 185 135 160 160 216 216 221 221 72 77 77 174
4000
5000
6000
7000
8000
9000
0
100
200
300
400
500
O N D J F M A M J J A S O
O N D J F M A M J J A S O
2132 2000 1912 1900 1846 1672 1707 1660 1787 1835 1984 1873 1847
70 68 66 67 67 71 71 69 69 135 135 135 121
0
500
1000
1500
2000
2500
0
70
140
210
280
350
O N D J F M A M J J A S O
O N D J F M A M J J A S O
2482 2440 2406 2354 2062 1879 1932 1975 2067 2285 2529 2440 2604
532 520 513 752 752 754 754 1230 1230 2193 2193 2193 2178
1000
1500
2000
2500
3000
3500
300
500
700
900
1100
1300
1500
1700
1900
2100
2300
2500
O N D J F M A M J J A S O
PACKAGING AND
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SORTING AND SEPARATION
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valued at US$ 5 850 a year ago in
London, in early November it was at
US$ 6 725. Analysts emphasise that
fixed LME quotations are not primarily
based on fundamental trading princi-
ples but on the involvement of invest-
ment funds. Given the many troubled
areas in the world, raw materials are a
popular investment.
Even so, demand for copper has
improved with traders reporting it had
been picking up again since the begin-
ning of October. The uncertainty
resulting from the second wave of
coronavirus is being offset by recovery
in the China’s economy and strong
business there. Demand for copper
and copper products has improved,
especially in Western European coun-
tries.
Bright wire scrap in early November
was trading between US$ 6 225 and
US$ 6 440 per tonne, heavy copper
scrap was worth US$ 5 650 to US$ 5
800 per tonne. Copper granules 1a
68-69-70-71_manonferrous.indd 70 11-11-20 14:28
