Spot aluminum premiums have climbed to their highest price in nearly five years, in the face of mounting warehouse stockpiles. The amount of aluminum stored in warehouses has climbed to a 32-year high.
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Following the upward trend of vanadium prices, the price for iron ore fines has also improved. Despite a depressed steel market, a notable recovery is evident in the vanadium market since the year end, with prices reacting to positive market demand.
Molybdenum producers have had a busy week, with multiple mergers and new mining operations announced as demand rises.
Nickel prices have been increasing steadily over the last year and are trading around $22,700. Nickel has rallied around 20 per cent this year making it the strongest performer of the base metals complex.