Metal

The looming threat of U.S. copper tariffs under the Trump administration has triggered a global scramble to ship metal stateside, draining LME inventories and creating windfall profits for traders capitalizing on a $600/ton premium for COMEX copper over London prices. Why the Surge? Trade Anomalies 🚢 Bulk Carrier Boom: Traders are bypassing slow container ships for bulk carriers (transit time: 2 weeks vs. 40 […]

The Shanghai Futures Exchange (ShFE) is moving forward with plans to open its domestic nickel futures contract to foreign investors as early as this year, according to sources familiar with the matter. The decision marks a strategic shift to compete directly with the London Metal Exchange (LME) and provide the global market with a more stable alternative following the LME’s 2022 nickel […]

In a dramatic escalation, Nippon Steel has pledged 14billioninUSinvestments∗∗—including∗∗14billioninUSinvestments∗∗—including∗∗4 billion for a new steel mill—as it seeks to overcome political resistance and secure Trump administration approval for its $14.9 billion takeover of US Steel, according to internal documents and sources. Key Details of the Sweetened Deal: ✅ 11Bininfrastructureupgrades∗∗(2024−2028)✅∗∗11Bininfrastructureupgrades∗∗(2024−2028)✅∗∗1B initial greenfield site, expanding to $4B✅ Headquarters to remain in Pennsylvania✅ No job cuts promised The move […]

Copper inventories in Shanghai Futures Exchange (SHFE) warehouses surged 34% this week, snapping a three-week decline that had stoked concerns over shortages as global supplies were diverted to the U.S. ahead of potential Trump-era tariffs. Key Drivers: Market Implications:

A wave of copper imports has overwhelmed the U.S. market, collapsing the premium for tariff-hedged metal and draining global exchange stocks, as traders scramble to front-run President Trump’s pending decision on whether to impose 25% import duties. Key Market Shifts: Why It’s Happening:

Despite slumping demand from U.S.-China trade tensions, aluminium prices may find a floor thanks to China’s strict 45 million-ton annual production cap, analysts say. However, recession fears and tariff uncertainties could push prices to 2021 lows if global growth falters. Key Drivers: Price Outlook:

Despite the Democratic Republic of Congo’s (DRC) four-month cobalt export ban, Chinese smelters and battery makers remain well-supplied, with stockpiles lasting up to six months for large consumers, industry experts revealed at the Cobalt Congress 2025 in Singapore. However, a persistent global oversupply threatens to keep prices depressed long-term. Key Takeaways: Market Forecast:

China has issued its first batch of rare earth magnet export permits since imposing restrictions last month, approving shipments for at least four producers, including suppliers to Volkswagen, signaling a partial easing of its trade controls on critical materials. Key Developments: Why It Matters:

Ukraine has completed all legal procedures to implement a strategic minerals agreement with the U.S., a deal that grants Washington preferential access to Ukrainian critical minerals while establishing a bilateral investment fund for postwar reconstruction, Deputy Prime Minister Yulia Svyrydenko announced Tuesday. Key Provisions: Negotiation Backdrop:

Chinese metals giant Tsingshan insists it remains committed to Chile’s lithium sector, despite scrapping plans for a lithium cathode plant—a setback for the country’s ambitions to move up the EV battery supply chain. Key Developments: Why It Matters: