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.

Brazil is expected to become a reference in low-cost hard-rock lithium production and an investment hub for foreign companies. But some internal challenges remain for the country, such as funding and legal uncertainties, market participants told Fastmarkets.

Fastmarkets has partnered with the Intercontinental Exchange (ICE) to launch a series of cash-settled lithium, spodumene and cobalt futures contracts that will be settled against Fastmarkets assessments.

China is a key leader in lithium-ion battery recycling, implementing new national standards designed to strengthen supply chain security, improve efficiency and address increasing market demand by July 2025.

Read Fastmarkets' monthly battery raw materials market update for April 2025, focusing on raw materials including lithium, cobalt, nickel, graphite and more

President Trump's recent tariffs, including a 25% levy on imported vehicles, have disrupted the US economy, triggering market turmoil, retaliatory actions and challenges for industries like EVs and battery raw materials. With rising inflation, reduced consumer confidence and a bleak growth outlook, economic pressure continues to mount.

EV advocate Quentin Willson talks myths, market trends and the road ahead

The disconnect between spodumene and lithium salts prices has become a major focus in the global battery raw materials market, as discussed at the 2025 Fastmarkets conference in Shanghai. Factors like new pricing mechanisms, spodumene auctions and shifting supply-demand trends highlight the need for improved risk management tools and price transparency.

The 2025 executive order on U.S. mineral production is a major step toward strengthening domestic supply chains and national security. By boosting domestic mineral production, it aims to reduce reliance on imports and ensure a secure future for critical industries. This order will shape the future of U.S. mining and its role in global markets.

The United States is taking steps to strengthen its critical mineral supply. This move focuses on boosting domestic production, improving supply chains, and addressing regulatory challenges. These efforts aim to enhance economic growth and reinforce national security.