The Kingdom of Saudi Arabia’s (KSA) ambitious plan to diversify away from oil and into metals will increase local nickel consumption and fund international mining projects, given recent massive investments in nickel-intense industries

Fastmarkets proposes to amend the name of the MB-AL-0231 Aluminium P1020A all-in price, delivered Midwest US, US cents/lb to clarify that the price is based on the London Metal Exchange cash aluminium price.

Market sentiment for black mass sales to Asia was hit by weakening battery metal prices in the week to Friday June 14, but solid demand from the expanding South Korean market was lending support to the payables, sources told Fastmarkets.

Aluminium and lithium market participants told Fastmarkets the European Commission’s provisional additional duties on Chinese electric vehicles (EVs) are supportive for production but they were not convinced they would be enough to reverse the fortunes of the weakening domestic European auto market

The European Union announced on Wednesday June 12 that it will impose additional tariffs of up to 38.1% on electric vehicles (EVs) imported from China from July 4.

Europe’s nascent synthetic graphite sector faces a double threat with China’s overcapacity persisting and US legislation embracing protectionism at the expense of a level playing field, according to the head of a forthcoming anode material producer in Europe

In the open consultation, Fastmarkets FOEX did not propose any changes, and there was no feedback received during the process. No material changes were made to the current methodology. A newly dated methodology document has been posted here.

Read more from senior analyst Andy Farida on how the price action in LME nickel has played out in the first half of 2024

Tight aluminium scrap availability, the increase in container costs, sluggish demand in the US and the US market’s current indifference to rising premiums in Europe and Asia were the top subjects discussed during the Harbor Aluminum Summit that took place in Chicago on June 4-6

The publication of Fastmarkets’ aluminium scrap and secondary aluminium ingot price assessments for Wednesday June 12 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated.