Aluminium and nickel have undergone a particularly steep pullback this morning following strong gains throughout the past week, which had been sparked by supply concerns following the United States’ imposition of sanctions on Russian tycoon Oleg Deripaska's assets, including UC Rusal.
Check Metal Bulletin’s live futures report here.
|LME snapshot at 3.14am London time|
|Latest three-month LME Prices|
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|SHFE snapshot at 11.00am Shanghai time|
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China’s domestic iron ore output shrank in the first quarter of 2018 amid weaker prices for the material.
Copper and brass scrap markets in the United States have continued to feel the heat from strong overseas demand, which is prompting some domestic buyers to tighten discounts and raise prices to remain competitive.
China’s domestic stainless steel prices increased over the past week due to a recovery in demand and strong gains in the London Metal Exchange’s nickel price.
The growing adoption of electric vehicles throughout the automotive industry will force a significant shake-up in the lithium-ion battery industry in the coming years.
Rebar prices in the United States have risen after multiple mills announced $20-per-ton increases in a tight market, even as a leading producer remained silent.