IN CASE YOU MISSED IT: 5 key stories from May 22

Here are five Fastmarkets stories you might have missed on Friday May 22 that are worth another look.

NLMK, Russia’s largest steelmaker, has started hot testing the new beneficiation section at its Stoilendkiy mining and beneficiation plant, the company said on May 22.

Metals traders have begun to feel the pinch after a turbulent period in commodity markets have caused some banks to step back from fully financing cargoes under letters of credit.

Miners and processors considering production cuts cannot ignore safety or care and maintenance, including of associated asset infrastructure, the former chief executive officer of Anglo American said.

Chinese copper smelters have been expanding blindly over the past decade, leading to extreme competition for overseas copper concentrate and placing the industry in a fragile position with regards to procurement, an Aluminum Corp of China (Chalco) official has said.

Chinese multi-metal company Jinchuan Group will conduct maintenance at its cobalt smelter in Gansu Province in early June, market sources told Fastmarkets on May 22.

What to read next
The US aluminium industry is experiencing challenges related to tariffs, which have contributed to higher prices and premiums, raising questions about potential impacts on demand. Alcoa's CEO has noted that sustained high prices could affect the domestic market. While trade agreements might provide some relief, analysts expect premiums to remain elevated in the near term. However, aluminum demand is projected to grow over the long term, supported by the energy transition and clean energy projects. To meet this demand, the industry will need to increase production, restart idle smelters and address factors such as electricity costs and global competition.
Read Fastmarkets' monthly base metals market for May 2025 focusing on raw materials including copper, nickel aluminium, lead, zinc and tin.
The Mexico Metals Outlook 2025 conference explored challenges and opportunities in the steel, aluminum and scrap markets, focusing on tariffs, nearshoring, capacity growth and global trends.
China has launched a coordinated crackdown on the illegal export of strategic minerals under export control, such as antimony, gallium, germanium, tungsten and rare earths, the country’s Ministry of Commerce announced on Friday May 9.
Fastmarkets proposes to amend the frequency of Taiwan base metals prices from biweekly to monthly, and the delivery timing for the tin 99.99% ingot premium from two weeks to four weeks.
The US-China trade truce announced on May 12 has brought cautious optimism to China’s non-ferrous metals markets, signaling a possible shift in global trade. Starting May 14, the removal of additional tariffs has impacted sectors like battery raw materials, minor metals and base metals such as zinc and nickel, with mixed reactions. While the improved sentiment has lifted futures prices and trade activity, the long-term effects remain unclear due to challenges like supply-demand pressures and export controls.