[SMM Aluminum Price Weekly Review: Macro Situation Fluctuates, Domestic Aluminum Prices Under Pressure at the Top Amid High Inventory]

[SMM Aluminum Price Weekly Review: Ex-China Supply Gap Supports Prices to Hold Up Well, China Focuses on Aluminum Ingot Social Inventory Turning Point]

The US April "ADP employment data" recorded 109,000 new jobs, slightly above expectations of 99,000, while the previous reading was revised down from 62,000 to 61,000.

[SMM Tin Midday Review: Multiple Macro Factors Drove Futures Higher, Spot Market Fell into Stalemate with Scarce Transactions]

SMM Nickel News, May 7: Macro and market news: (1) US ADP employment data for April recorded 109,000 new jobs, slightly above expectations of 99,000, while the previous reading was revised down from 62,000 to 61,000. (2) Iran's Permanent Mission to the United Nations proposed a feasible solution to the Strait of Hormuz issue: permanently ending the war, lifting the maritime blockade, and restoring normal passage. Spot market: On May 7, SMM #1 refined nickel prices fell 5,050 yuan/mt from the previous trading day. Spot premiums: Jinchuan #1 refined nickel averaged 1,150 yuan/mt, down 100 yuan/mt from the previous trading day; mainstream domestic electrodeposited nickel brands ranged from -800-200 yuan/mt. Futures market: The most-traded SHFE nickel 2606 contract plunged sharply during the night session and hovered at lows during the morning session, closing at 148,450 yuan/mt, down 3.33%. Trump explicitly stated on the evening of May 6 that a US-Iran deal was "very likely," that the negotiation framework had been largely finalised, that the resumption of passage through the Strait of Hormuz was in sight, and that the sulphur supply crisis was expected to be resolved, leading to a sharp pullback in nickel prices. In the short term, the most-traded SHFE nickel contract is expected to move sideways in the range of 145,000-150,000 yuan/mt, with the center likely shifting downward, as the key support below comes from the rigid cost support brought by Indonesia's new HPM policy.

The US ADP employment data for April recorded 109,000 new jobs, slightly above expectations of 99,000, while the previous value was revised down from 62,000 to 61,000.

【SMM Steel】Marubeni-Itochu Steel America Inc. plans to build a new flat rolled steel processing facility in Osceola, Arkansas, with total investment exceeding $37m. The plant will be adjacent to Big River Steel. It will be operated by MISA Specialty Processing, a subsidiary of MISA. The investment is expected to generate 35 new jobs. The new processing center will serve end-use sectors including automotive, providing processed flat rolled steel products. The project is expected to strengthen supply chain capabilities. MISA stated the investment supports its strategy to expand in North America.

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Fluctuated at Highs, Downstream Enterprises Mostly Took a Wait-and-See Approach with Limited Follow-Through]

Automaker Stellantis (STLA.N) is seeking to exit its US battery joint venture with South Korea's Samsung SDI. This comes after the company announced last week an asset impairment of over €22 billion (approximately $26 billion) as it gradually scales back its EV deployment and strives to preserve cash. Exiting the joint venture could be costly and protracted. Stellantis may also sell its stake to a third party. Following Trump's policy moves to undermine plug-in vehicles, EV and battery projects have put pressure on the company, and CEO Antonio Filosa is working to contain related losses. Stellantis and Samsung established the Indiana joint venture in 2021, committing to invest $2.5 billion and create 1,400 new jobs in Kokomo. The plant, Samsung's sole battery factory in the US, began operations in 2024 and has started producing some battery cells for ESS.

[SMM Tin Morning Brief: The Most-Traded SHFE Tin Contract Maintained a Fluctuating Upward Trend During the Night Session, with Various Segments of the Industry Chain Generally Entering a Holiday State]