Apr 9th, 2015: Scrap Gold, Silver and Platinum market update

India ADC 12 prices remained relatively resilient despite a 1.2% decline in LME aluminium 3-month prices between September 24 and 30.

Rio Tinto announced on October 1 that it had reached agreements with the Tasmanian Government, the Australian Commonwealth Government and Hydro Tasmania to extend electricity supply to the Bell Bay aluminium smelter through the end of 2031. The two governments will also provide a combined A$200 million support package over five years, contributing A$100 million each. Commercial terms of the power agreement were not disclosed. Bell Bay produces around 190,000 tonnes of primary aluminium annually, while its existing electricity contract was due to expire at the end of 2026. The agreement removes the smelter’s immediate operational uncertainty. Bell Bay is the third major Australian aluminium smelter to receive government-backed support in 2026, following Boyne and Tomago, highlighting continued pressure from high electricity costs and international competition.

head of the National Day holiday, domestic aluminum ingot inventories continued to set fresh year-to-date lows. According to SMM statistics, as of September 30, electrolytic aluminum ingot inventories in China's major consuming regions stood at 638,000 mt, down 36,000 mt from Monday and 40,000 mt from last Thursday. The pace of pre-holiday destocking was relatively fast overall, leaving ample buffer for inventory accumulation during the holiday...