This morning in metals news, base metals got off to a solid start this week, Carpenter Technology Corporation enters into a supply agreement with a company that produces 3-D printing systems and zinc hits a two-week high.
Markets Start Monday with Strong Base
It was a good start to the week for base metals on the London Metal Exchange (LME).
Prices closed Friday with an average increase of 0.4%, according to FastMarkets. Those metals kept the momentum rolling into this week (particularly lead, zinc and nickel).
LME prices increased by an average of 0.5%, with three-month copper prices up 0.3% and lead prices up 1%, according to FastMarkets.
Carpenter, Desktop Metal Enter Supply Relationship
Desktop Metal, Inc., which produces end-to-end metal 3-D printing systems, has entered into a supply relationship with Carpenter Technology Corporation, according to a NASDAQ release.
Carpenter Technology Corporation is a producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt based superalloys, stainless steels, alloy steels and tool steels. Carpenter’s powder metals will be utilized in Desktop’s premium materials cartridges, according to the release.
The move is just another signal of the ongoing growth of the 3D-printing market and the method’s uses in a variety of applications.
Zinc Hits Two-Week High
Rather than start the week Monday sluggishly, zinc prices have ticked upward, reaching a two-week high, according to Reuters.
The rising price was driven by expectation of higher demand from steelmakers and LME inventories of zinc hitting nine-year lows, according to the Reuters report.
London zinc prices rose 0.9%, to their highest price since June 2.
Meanwhile, mine closures led to China’s lowest output in more than two years. Chinese imports increased by by 21 percent in April, Reuters reported.