Volume of refined nickel exported by China soared in 2023, official customs data released on Monday January 22 shows, after new entrants in the refining business stepped up their sales efforts in the overseas market

In a letter to its employees seen by Fastmarkets on Wednesday January 24, the independently owned Magnitude 7 Metals LLC aluminium smelter in Marston, Missouri said it would curtail its operations over the course of the next three to five days, and that "most employees will no longer be required after January 28"

South Korean battery maker Samsung SDI’s recent investment in Canada Nickel, despite falling nickel prices, is the latest example of companies forming long-term partnerships to secure electric vehicle supply chain production that qualifies for tax credits under the US Inflation Reduction Act (IRA)

Norsk Hydro is continuing to maximize its production of aluminium products for the automotive sector amid ongoing weak demand in end-use markets like construction, according to a senior executive at the Norwegian producer

The Fastmarkets base metals research team forecasts the dynamic trends and opportunities in the base metals market in 2024 and beyond

Oversupply caused by growing refining capacity in China overturned the fundamentals of the Chinese Class-1 nickel market in 2023 and the effects are expected to be extended and amplified in 2024, sources told Fastmarkets

The Asian aluminium market is expected to continue its recovery in 2024 after it struggled to meet expectations in the prior year, market participants have told Fastmarkets

Secondary aluminium markets in Europe should be significantly influenced by the availability of scrap through this year, with the rate of exports to Asia from Europe playing a key role in shaping price trends for ingot, according to industry sources

A rapid change in the spot copper concentrate market since October has sent a clear signal of fiercer competition to secure copper concentrates in 2024, which will be felt in other copper raw materials markets, like blister and anodes, sources told Fastmarkets

With China’s fluorspar prices hitting a record high in 2023, market participants in China expect export prices to fluctuate little throughout 2024, mainly due to shortage of supply