Export restrictions and carbon pricing are reshaping who can access European aluminium scrap. Domestic remelters are gaining ground that they previously ceded to Asian buyers. But contamination means the discount on secondary metal can only close so far.
LME Aluminium cash prices slid to three-week lows and settled at $3,498.50/t on Thursday 11 June 2026, down sharply from the four-year high of $3,795.50/t reached just ten days earlier on Monday 1 June 2026.
May brought a modest increase in China’s copper concentrate imports, but unwrought copper volumes continued to lag last year’s pace.
Export restrictions and carbon pricing are reshaping who can access European aluminium scrap. Domestic remelters are gaining ground that they previously ceded to Asian buyers. But contamination means the discount on secondary metal can only close so far.
LME Aluminium cash prices slid to three-week lows and settled at $3,498.50/t on Thursday 11 June 2026, down sharply from the four-year high of $3,795.50/t reached just ten days earlier on Monday 1 June 2026.
May brought a modest increase in China’s copper concentrate imports, but unwrought copper volumes continued to lag last year’s pace.
Weekly review of LME base metals markets covering aluminium, copper, zinc, lead, nickel, and tin, analysing price action, spreads, warehouse stocks, cancelled warrants, and the macro and physical drivers behind trading activity during the week ending 5 June 2026.
Stay connected with our latest developments. Share your details to receive updates and analyses from LME Insight.
Weekly review of LME base metals markets covering aluminium, copper, zinc, lead, nickel, and tin, analysing price action, spreads, warehouse stocks, cancelled warrants, and the macro and physical drivers behind trading activity during the week ending 29 May 2026.
LME Nickel closed at $18,540/mt on 21 May, up over $2,200 from its mid-March low. Indonesia accounts for ~60% of supply; and the market has run a surplus for four years. That suggests oversupply, yet physical premiums and warrant data point to tighter conditions, defying the fundamentals.
Weekly review of LME base metals markets covering aluminium, copper, zinc, lead, nickel, and tin, analysing price action, spreads, warehouse stocks, cancelled warrants, and the macro and physical drivers behind trading activity during the week ending 22 May 2026.
Carbon pricing is reshaping aluminium markets. As CBAM introduces a measurable cost on emissions, high-carbon metal becomes less competitive while low-carbon supply gains value. The result is a structural shift in pricing, trade flows and the emergence of a green premium within global markets.
Understanding premiums, discounts and the associated "basis risk" in metals markets.
A high-level overview of the importance of LME brands and the listing process.
Why pricing material based on a reputable reference price offers increased transparency, efficiency and optionality.
A detailed overview of price formation via bilateral negotiations, price reporting agencies, physical trading platforms and futures exchanges.
Stay connected with our latest developments. Share your details to receive updates and analyses from LME Insight.