EUROPEAN MORNING BRIEF 12/06: Firmer dollar, easing supply concerns sink SHFE copper; Mn ore, SiMn prices rise in China; Aqua Metals produces first commercial high-grade lead

Good morning from Metal Bulletin’s offices in Asia, bringing the latest news and pricing stories on Tuesday June12.

Copper prices on the Shanghai Futures Exchange weakened during Asian morning trading on Tuesday, with a firmer dollar and easing supply concerns weighing on investors’ appetite for the red metal.

The most-traded August copper contract price on the SHFE dropped to 53,830 yuan ($8,407) per tonne as at 10.28am Shanghai time, down 330 yuan per tonne from Monday’s close.

Check Metal Bulletin’s live futures report here.

LME snapshot at 3.35am London time
Latest three-month LME Prices
  Price
($ per tonne)
 Change since Monday’s close ($)
Copper 7,221 -34
Aluminium 2,313 12
Lead 2,482 7
Zinc 3,186 -15
Tin 21,030 -145
Nickel 15,235 -55

SHFE snapshot at 10.28am Shanghai time
Most-traded SHFE contracts
  Price (yuan per tonne)  Change since Monday’s close (yuan)
Copper  53,830 -330
Aluminium 14,925 10
Zinc 24,380 -65
Lead 20,510 -35
Tin  151,810 -330
Nickel  114,830 -950

Manganese ore prices rose in China this past week due to higher offers from producers, although few deals took place, especially for 44% manganese ore. The thin trading was attributed to resistant buyers, who preferred to take a wait-and-see stance on the direction of the market, according to sources.

Aqua Metals Inc has begun commercialization of its non-polluting electrochemical lead recycling technology with the production of pure AquaRefined lead.

Physical cobalt prices fell again on June 8, faced with cheaper metal supplies, seasonally weaker spot demand and poor sentiment, market sources told Metal Bulletin.

Steel plate prices in the United States are up for the second week in a row on a potential supply squeeze stemming from Section 232 tariffs on the European Union, Canada and Mexico.

Buying activity in the Commonwealth of Independent States export slab market has shown signs of recovery during the week ended Monday as several bookings were heard done in Southeast Asia and the Middle East.

What to read next
Following an initial consultation with the market, Fastmarkets is proposing to:  The new specifications would be as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10 Quantity: Min […]
Fastmarkets’ 2025 outlook for key raw materials and ingredients used in the production and distribution of fast-moving consumer goods.
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.