Metal

China’s lithium futures have plummeted to a new low, driven by negative macroeconomic sentiment and an oversupply of the metal, which is crucial for electric vehicles. On Friday, the most-traded November lithium carbonate futures on the Guangzhou Futures Exchange reached 69,700 yuan ($9,835.74) per ton, marking the lowest price since the contract’s inception last July. […]

Commodities trading giant Trafigura has implemented a new policy extending the notice period for traders leaving the firm to a minimum of six months, with some contracts requiring up to one year. This change, which affects both new and existing employees depending on their seniority, comes in response to recent employee departures. The move could […]

Piedmont Lithium has withdrawn its application for a debt package from a U.S. government loan program and is scaling back its ambitious expansion plans across two continents. This decision comes as lithium prices have plummeted by 83% over the past year, largely due to overproduction in China and sluggish electric vehicle (EV) sales, which have […]

U.S. Steel has indicated it may close mills and potentially relocate its headquarters out of Pittsburgh if the $14.9 billion buyout by Nippon Steel collapses. In an interview with the Wall Street Journal, CEO David Burritt emphasized that the nearly $3 billion investment pledged by Nippon for U.S. Steel’s aging mills is essential for maintaining […]

The London Metal Exchange (LME) has announced a series of proposed measures aimed at boosting electronic trading while safeguarding its traditional structure for physical metal transactions. This initiative seeks to address the ongoing tension between physical users, who rely on the LME’s open-outcry trading floor, and the financial community that favors electronic trading methods. In […]

China’s Sinomine Resource Group has announced that its Tsumeb Smelter in Namibia contains 746 metric tons of germanium, a critical mineral essential for various technologies including chipmaking, infrared applications, fiber optic cables, and solar cells. The company plans to conduct a feasibility study to revamp the existing copper smelting production line, aiming to incorporate germanium […]

Goldman Sachs has temporarily suspended its coverage of zinc markets, attributing the decision to “restricted capacity” following significant leadership changes within its commodities division. This move comes after the departure of Nicholas Snowdon, the metals strategist who has joined Mercuria, an energy trader looking to enhance its footprint in the sector. Snowdon’s exit is part […]

Nippon Steel, Japan’s largest steelmaker, announced plans for an additional investment of approximately $1.3 billion in U.S. Steel’s mills as part of its ongoing acquisition process. This new investment comes on top of the previously pledged $1.4 billion through 2026 aimed at enhancing U.S. Steel’s operations. The fresh investment will allocate at least $1 billion […]

Australia’s South32 is actively seeking to increase its copper production through both acquisitions and expansions of existing operations, as the company reported a yearly profit that exceeded market expectations. CEO Graham Kerr highlighted the importance of copper in the energy transition, expressing a desire to acquire a larger stake in the Sierra Gorda mine in […]

Russia’s Rusal, the largest aluminium producer outside China, reported a remarkable 42% increase in its first-half adjusted net profit, driven by significant cost reductions that offset a decline in sales and prices. The company announced this growth despite facing challenges due to geopolitical tensions stemming from the Ukraine conflict, which have led to decreased demand […]