EUROPEAN MORNING BRIEF 04/06: SHFE copper, nickel prices climb; Li-ion battery recycling progress needed; US Treasury Dept extends Rusal divestiture deadline

Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Monday June 4.

Copper prices on the Shanghai Futures Exchange rose during Asian morning trading on Monday, benefiting from supply-side concerns, while the rest of the complex was little changed to stronger.

Check Metal Bulletin’s live futures report here.

LME snapshot at 03.17am London time
Latest three-month LME Prices
  Price
($ per tonne)
 Change since last Friday’s close ($)
Copper 6,927.50 31.5
Aluminium 2,292.50 -12.5
Lead 2,450 6
Zinc 3,106 5
Tin 20,695 -55
Nickel 15,445 0

SHFE snapshot at 10.19am Shanghai time
Most-traded SHFE contracts
  Price
(yuan per tonne)
 Change since last Friday’s close (yuan)
Copper  51,990 510
Aluminium 14,645 -5
Zinc 24,265 5
Lead 19,940 100
Tin  154,280 -550
Nickel  117,160 1,050

The recycling of lithium-ion batteries is critical in a growing electric vehicle battery market, although advancements are still necessary in the recycling arena, according to an industry expert.

The US Treasury Department has extended the deadline for investors to divest their holdings in sanctioned Russian companies, allowing them until 12:01 am August 5 to offload their debt, equity or other holdings.

The global nickel market is expected to record a modest 70,000-tonne deficit in 2018 on the back of strong stainless steel production growth, Denis Sharypin, Nornickel’s head of market intelligence, said at Metal Bulletin’s International Nickel Conference in Toronto, Canada.

Nickel is likely to remain the material of choice in electric vehicle (EV) batteries, but automobile manufacturers could be forced to consider alternatives if prices rise too high, according to an industry expert.

The volatility in global copper stocks this year has benefited trading volumes across both the Chicago Mercantile Exchange and SHFE, while the London Metal Exchange’s inventory has fluctuated widely and dropped to a four-month low this week.

What to read next
Vale Base Metals plans to boost annual copper production to 700,000 tonnes by 2035, aiming to become a top-five global producer of nickel and copper. CEO Shaun Usmar highlights a focus on productivity, cost optimization and sustainable growth. With strong assets in Canada and Brazil, Vale is well-positioned to meet rising global demand.
Fastmarkets has corrected its fob Australia alumina index, which was published incorrectly on Monday June 2 and Tuesday June 3 due to a back-end calculation error. Fastmarkets has also corrected all the related inferred indices. On June 2 the following prices were published incorrectly: Fastmarkets’ MB-ALU-0002 Alumina index, fob Australia, was published in error as $375.59 per […]
Mexico’s strategic role in automotive nearshoring is fueling demand for recycled aluminium, with investment in scrap-intensive sectors boosting its non-ferrous secondary markets. Despite tariff uncertainties, USMCA compliance and EV production growth continue to attract global manufacturers.
Goldcorp founder Rob McEwen is back in the spotlight with a bold bet on copper in Argentina. The $2.5 billion Los Azules project, set to become Argentina’s first major copper mine in over 30 years, is reshaping the country’s mining industry while raising sustainability standards. Positioned as a key player in addressing a global copper shortage, the project highlights innovation, persistence and a commitment to meeting the growing demand from global electrification.
Fastmarkets has launched MB-NI-0257, high-grade nickel matte payable indicator, 65-75% nickel contained, cif China, % of official exchange price on Friday May 30.
The following price was affected: MB-AL-0020 Aluminium P1020A premium, ddp Midwest US, US cents/lb.  This price is a part of the Fastmarkets Base Metals package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide price information by becoming a data submitter to this price, please […]