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.

US Steel is affirming its commitment to the growing electric car market with the announcement that it is building a non-grain oriented (NGO) electrical steels line at Big River Steel

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.

Physical commodities trading company Trafigura Pte Ltd and agricultural commodities firm Yara International ASA have signed a memorandum of understanding (MoU) to collaborate on the development and promotion of ammonia as a clean fuel in shipping, Trafigura said.

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.

Appetites for steel scrap exports were broadly subdued in the week to Friday June 4, with the exception of imports into India and Pakistan.

Turkish steel producers ended the week with no deep-sea scrap bookings amid limited finished steel demand, market participants told Fastmarkets on Friday June 4.

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.

Seaborne coking coal prices stayed largely stable in the cfr market and inched up in the fob market on Friday June 4, with major mills in the cfr market done restocking premium cargoes while market sentiment in the fob market turned bullish on market expectations of a facilities overhaul in July for major Australian miners, Fastmarkets heard.