EUROPEAN MORNING BRIEF 15/05: SHFE base metals prices diverge; EV nickel demand to surge tenfold by 2025; Mn ore, alloy prices slide further

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Tuesday May 15.

Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Tuesday, with copper down amid disappointing Chinese data and rising stock levels.

Check Metal Bulletin’s live futures report here.

SHFE snapshot at 10.44am Shanghai time
Most-traded SHFE contracts
Price (yuan per tonne) Change since previous session’s close (yuan)
Copper (Jul) 51,280 -280
Aluminium (Jul) 14,695 60
Zinc (Jul) 23,715 160
Lead (Jun) 19,380 -5
Tin  (Sep) 145,750 -380
Nickel  (Jul) 106,870 380
LME snapshot at 03.44am London time
Latest three-month LME Prices
Price ($ per tonne) Change since previous session’s close ($)
Copper 6,875 -10
Aluminium 2,317 -2
Lead 2,381.50 -3.5
Zinc 3,079 24
Tin 20,980 30
Nickel 14,370 -130

Mass production of electric vehicles (EVs) will transform the nickel market, which must evolve from pricing and supply perspectives in order to meet the anticipated surge in demand, a Vale executive said ahead of Metal Bulletin’s 6th International Nickel Conference, which begins Thursday May 31 in Toronto, Canada.

Manganese prices dropped further in China last week on weaker demand downstream. Check out Metal Bulletin’s latest weekly global manganese wrap here.

The commission appointed to draft the regulations required for the Democratic Republic of Congo’s new mining code has completed its work and will now report back to the Minister of Mines, major international mining companies active in the country said.

Core earnings at Brazilian ferro-alloys producer Ferbasa declined by 10.16% in the first quarter of 2018, affected by higher costs for energy and raw materials on an annual comparison, Metal Bulletin has learnt.

Both the European spot and Chinese export ammonium paratungstate markets continued to move higher last week amid concerns of supply disruptions due to continued environmental inspections in China.

London-based Harthill Logistics has expended its consultancy services through the appointment of Dessy Nascimentom, the company said.

What to read next
The Mexico Metals Outlook 2025 conference explored challenges and opportunities in the steel, aluminum and scrap markets, focusing on tariffs, nearshoring, capacity growth and global trends.
China has launched a coordinated crackdown on the illegal export of strategic minerals under export control, such as antimony, gallium, germanium, tungsten and rare earths, the country’s Ministry of Commerce announced on Friday May 9.
Fastmarkets proposes to amend the frequency of Taiwan base metals prices from biweekly to monthly, and the delivery timing for the tin 99.99% ingot premium from two weeks to four weeks.
The US-China trade truce announced on May 12 has brought cautious optimism to China’s non-ferrous metals markets, signaling a possible shift in global trade. Starting May 14, the removal of additional tariffs has impacted sectors like battery raw materials, minor metals and base metals such as zinc and nickel, with mixed reactions. While the improved sentiment has lifted futures prices and trade activity, the long-term effects remain unclear due to challenges like supply-demand pressures and export controls.
The publication of Fastmarkets’ assessments of Shanghai bonded aluminium, zinc and nickel stocks for April 30 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated. The data effective for April 30 was published on May 7 as a result. The following assessments were affected:Shanghai aluminium bonded stocksShanghai zinc bonded stocksShanghai nickel […]
Global physical copper cathodes premiums were mixed in the week to Tuesday April 15, with US market moving down, Europe rising and Asia holding largely steady.