With long steel prices in Europe reaching historically high levels, construction activity is slowing in some regions due to reduced supplies and delays, with some market sources fearing a decline in industrial activity long term.

Metals continue to languish in high ground during morning trading on Monday June 14, with tin being the exception as it continues to push higher on strong fundamentals due to supply disruptions.

LME base metals have looked tired, having lost their upward momentum in the past few days, but underlying support looks plentiful, with all the base metals on the SHFE being in positive territory this morning, Wednesday June 9.

Bullish sentiment about nickel demand, particularly for electric vehicles, compared with long timeframes needed to increase mine supplies, has driven prices higher. But continuing uncertainties about the future timing and extent of nickel demand and supply growth have created a volatile market, reports Gregory DL Morris.

With the exception of tin that was perched just below recent multi-year highs and aluminium that was little changed, base metals prices on the London Metal Exchange were weaker this morning, Tuesday June 8.

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday’s worse-than-expected US employment report ran out of steam.

Nornickel resumed operations at its Taimyrsky nickel and copper mine in Siberia on June 1, the world’s second biggest nickel producer said on Friday June 4.

Base metals prices on the London Metal Exchange have attracted dip-buying this morning, Friday June 4, after weakness on Thursday when prices fell across the board by an average of 2.2%.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on Thursday June 3 morning, although nickel bucked the trend on both exchanges.

Fastmarkets has decided to revise the outlier detection method used in the calculation of its copper concentrate treatment and refining charge (TC/RC) index.