Base metals
News, prices and analysis for aluminium, copper, nickel and other base metals
Base metals like copper, aluminium, nickel and alumina are some of the world’s most frequently traded commodities. With so many forces bearing down on the base metals market, win-win outcomes for negotiations depend on the depth and breadth of your understanding of the market.
Our global coverage, prices and forecasts give you the critical insights to understand what’s driving volatility and help you minimize risk and predict future trends. Our team of market experts provides more than 150 base metals prices from across the globe to empower you with the most current market-reflective prices, historical trends and future outlooks. And, as the drive to lower carbon emissions intensifies, Fastmarkets is leading the way with low-carbon aluminium pricing launched in 2021.
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There has been a freefall in copper concentrates treatment and refining charges (TC/RCs) this year amid tighter supply in the market. In 2025, supply tightness is projected to keep copper concentrates TC/RCs low on average for the whole year, sources told Fastmarkets.
The news that President-elect Donald Trump is considering additional tariffs on goods from China as well as on all products from US trading partners Canada and Mexico has spurred alarm in the US aluminium market at a time that is usually known to be calm.
Unlike most other commodities, cobalt is primarily a by-product – with 60% derived from copper and 38% from nickel – so how will changes in those markets change the picture for cobalt in the coming months following a year of price weakness and oversupply in 2024?
Copper recycling will become increasingly critical as the world transitions to cleaner energy systems, the International Energy Agency (IEA) said in a special report published early this week.
It was already getting more difficult to source nickel qualified as compliant to the Inflation Reduction Act (IRA). Under a future Donald Trump administration, it’s likely to get harder still, in the short-term at least.
Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.
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