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Stainless steel: US market remains bearish
Nickel prices remained in a steep decline throughout November, reaching their lowest level since April 2021. Although prices appeared to stabilise during the first half of December, the nickel market proved to be the worst-performing base metal, falling about 45%...
Copper: speculators less negative on the metal thanks to a change in the supply landscape
Funds have reduced their bets on a decline in copper prices as macroeconomic headwinds ease and the market collectively reassesses copper's supply dynamics. The shift in positioning has been underway since late October, when three-month LME copper was threatening to...
Aluminium: stocks in LME warehouses rise by 13 per cent
LME data showed a net inflow of 59,850 tonnes of aluminium into LME warehouses, bringing total stocks to 504,475 tonnes. As a market of last resort, consumers, producers and traders with excess metal often deliver it to the LME's network of warehouses. Demand has...
Steel: Japan’s Nippon Steel will acquire US Steel
Japan's largest steel producer, Nippon Steel, said on 18 December that it will acquire Pennsylvania-based US Steel for more than USD 14 billion. According to the company, Nippon Steel currently has an annual production capacity of 66 million tonnes. According to the...