LME approves listing of Gem's nickel cathodes

Spanish Market: Metals
02/11/23

The London Metal Exchange (LME) on 1 November approved the listing of GEM-NI1 nickel cathode produced by major Chinese cathode precursor and nickel producer Green Eco-Manufacture (Gem).

The GEM-NI1 brand constitutes good delivery against the LME's nickel contract with immediate effect, the LME said. Gem submitted an application for the listing on 17 August. The product is full plate nickel cathode produced by Gem's facility in Jinmen city in China's central Hubei province, with a production capacity of 10,000 t/yr.

More and more Chinese nickel producers have the intention of listing their products on major exchanges such as the LME and the Shanghai Futures Exchange (SHFE). The LME in July approved the listing of nickel cathodes produced by a subsidiary of major Chinese nickel producer Zhejiang Huayou Cobalt. The exchange on 27 October also received an application for the listing of nickel cathodes produced by major Chinese nickel intermediate product and lithium-ion battery cathode active material precursor producer CNGR.

"The deliverable brands for the export market currently have a premium of $0-50/t over the LME nickel prices but the premiums for undeliverable brands are far below the deliverables," a trader told Argus.

GEM is also likely to seek registration of its nickel cathodes on SHFE. Other newly-invested nickel cathode producers in China and Indonesia may have the intention of registering their brands on the LME, market participants told Argus. This is expected to ease potential supply shortages on these exchanges.

China's nickel cathode capacity using the electrowinning process will reach 184,000 t/yr in 2024 according to industry estimates, following new production projects launched by China's Huayou, Gem and CNCR. They have also invested in nickel intermediate feedstock projects in Indonesia and are delivering mixed hydroxide precipitate and nickel matte to China for further processing into nickel cathode.

New exchange listed nickel brands from China
	LME	t/yr	SHFE	t/yr
Huayou	approved	36,600	approved	6,000
Gem	approved	10,000	under way	N/A
CNGR	applying	12,500	under way	N/A

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

21/05/26

Australia's Arafura reaches FID for rare earths project

Sydney, 21 May (Argus) — Australian minerals developer Arafura has made a final investment decision (FID) for the 4,870t/yr Nolans rare earths project, which will begin 30 months of construction in September and start production in early-to mid 2029, the company told Argus today. Nolans will produce 4,440 t/yr of neodymium-praseodymium oxide, a light rare earth used in small quantities in rare earth permanent magnets (REPM) which are critical for the automotive, wind energy, and high-technology sectors. The company will also produce 470 t/yr of mixed medium-heavy rare earth oxide and 144,000 t/yr of 54pc P2O5 fertilizer-grade phosphoric acid from the project. The board reached FID after receiving a non-binding letter of support from Export Finance Australia (EFA) for 500 t/yr of NdPr under the country's Critical Minerals Strategic Reserve ( see table ), which brought Nolans over the targeted 80pc offtake threshold, the company said today. The EFA commitment followed a A$200mn ($144mn) investment from Australia's National Reconstruction Fund on 12 May and an offtake agreement with commodity trader Traxys North America for 500 t/yr NdPr on 13 May. Arafura also has offtake agreements with South Korean automaker Hyundai , Germany-based industrial manufacturer Siemens , and Traxys Europe . Arafura now has 3,570 t/yr of NdPr, or 80.4pc of its nameplate capacity, contracted for offtake. The remaining 870 t/yr is currently uncontracted and will be sold on the spot market. Nolans has a mine-life of 38 years and the company projects it will meet 4pc of global NdPr demand . By Daniel Gage-Brown Arafura's offtake commitments Company/Organisation Location Deal announced NdPr oxide t/yr Percentage of namplate Hyundai & Kia South Korea 7-Nov-22 1,500 33.8 Siemens Gamesa RE Germany 11-Apr-23 520 11.7 Traxys Europe Luxembourg 20-Mar-25 300 6.8 Traxys North America United States 13-May-26 500 11.3 Export Finance Australia Australia 13-May-26 500 11.3 Unspecified OEM Germany/Europe - 250 5.6 Not contracted for offtake - - 870 19.6 Nameplate: 4,400t/yr NdPr oxide Source: Arafura Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

EU parliament adopts steel safeguards

19/05/26

EU parliament adopts steel safeguards

Brussels, 19 May (Argus) — The European Parliament today adopted the new steel import measure, paving the way for its entry into force by 1 July, subject to final approval by EU member states and publication in the official journal. The regulation , adopted by a large majority, will set tariff-rate quotas of 18.3mn t/yr for steel with an out-of-quota duty set at 50pc for 30 categories of steel products imported to the EU. The European Commission aims to adopt an implementing act by 1 July setting out specific country quotas. EU commissioner Costas Kadis said "intense" discussions are under way in Geneva with more than 20 trading partners. Around 80pc of EU steel imports come from countries with which it has free-trade agreements (FTAs), he said. The commission says safeguards must apply equally to all third countries, including candidate countries such as Ukraine and countries with FTAs. Kadis expects global overcapacity to reach 721mn t by next year, more than five times EU annual steel consumption. Swedish liberal rapporteur Karin Karlsbro criticised the provisions covering Ukrainian steel imports during the parliamentary debate. The commission should help, not punish, Ukraine through the steel safeguards, she said, citing Russian attacks on steelworkers in Kryvyi Rih, Dnipro and Kamianske. "Trade policy should be a tool to keep the Ukrainian economy alive while they are defending us," Karlsbro said. Kadis said the decision on Ukraine had not been taken "lightly". Ukraine will receive a country-specific quota that ensures continued steel exports to the EU at levels "lower than before the war". But officials will take account of the country's immediate security situation when setting the quota, he said. French liberal MEP Yvan Verougstraete welcomed the deal for halving import quotas and doubling duties outside tariff-rate quotas. But he called for customs duties on imported cars, saying the use of "cheap, polluting" steel saves Chinese manufacturers €500/car. Polish far-right Patriots member Anna Brylka blamed the commission for the industry's problems, citing high energy costs, climate policy, decarbonisation and the emissions trading system. Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Malaysia launches first grid-connected BESS

18/05/26

Malaysia launches first grid-connected BESS

Singapore, 18 May (Argus) — Malaysia's national grid operation Tenaga Nasional Berhad (TNB) launched the country's first grid-connected battery energy storage system (BESS) today. TNB installed the 100MW/400MWh BESS at its 132/33kV Santong main input substation, located in Dungun, Terengganu. The facility is part of Malaysia's national energy transition roadmap. The new BESS will strengthen the national grid system's stability and reliability, provides faster response to supply-demand imbalances, support peak load management, and enables greater solar energy integration, TNB said. The global BESS market has grown far above expectations in the past few years, with annual deployments rising by 63pc last year to above 300GWh. The roll out of variable renewable energy such as solar energy is a major driver behind the growth in BESS capacity. Global BESS additions are expected to exceed 400GWh this year, according to forecasts by Argus Consulting. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

EU eyes deducting carbon credits under CBAM

13/05/26

EU eyes deducting carbon credits under CBAM

London, 13 May (Argus) — Domestic and Paris Agreement-aligned international carbon credits used to pay for emissions in non-EU countries could be counted towards a carbon price already paid on an import's emissions under the bloc's carbon border adjustment mechanism (CBAM), under proposals published by the European Commission today. Under the CBAM regulation, declarants can claim a reduction in the CBAM certificates they must surrender for emissions embedded in imported goods if a carbon price has already been paid in the country of origin. In a draft implementing act published for consultation today, the commission proposed including all forms of compliance options allowed in the relevant country in the calculation, including carbon credits. Claiming this reduction should be allowed "irrespective of whether the mitigation activities linked to the carbon credit takes place domestically or outside the domestic jurisdiction", according to the draft implementing regulation. But while domestic credits could be counted with no additional criteria, only international credits issued under Article 6 of the Paris Agreement should be counted, the commission proposed. "This criterion should promote the development of Article 6 credits and provide the quality assurance necessary to ensure the environmental integrity of CBAM," it said. Counting international credits as a carbon price already paid on CBAM goods should also be limited to 10pc of the reported emissions to incentivise domestic emissions cuts, the commission said. Any rebates or compensation received by installations covered by carbon pricing should also be factored in, the commission proposed, including free allowances or other exemptions. The carbon price could have been paid on direct, indirect or precursor emissions, under the draft. The commission may publish default carbon prices for relevant countries, it said. And it proposed publishing a yearly reference price for CBAM certificates to be used in the calculation of the deduction. The price paid in the non-EU country would be based on either a yearly average primary or secondary market price or individual records of payment, converted to euros based on yearly average exchange rates. The regulation would apply from 1 January this year. The consultation closes on 10 June. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US producer inflation surges by 6pc in April

13/05/26

US producer inflation surges by 6pc in April

Houston, 13 May (Argus) — Prices paid to US producers surged by an annual 6pc in April, the biggest gain since December 2022, spurred by rising energy costs triggered by the Mideast Gulf war. The producer price index (PPI) gained from an upwardly revised 4.3pc in March, according to the Bureau of Labor Statistics. Prices rose by 3.4pc in February and by 3.1pc in January and were at 2.4pc in April last year. The PPI report comes one day after BLS reported that the consumer price index rose by an annual 3.7pc in April , the biggest gain in nearly three years. The PPI report shows more inflation is in the pipeline, triggered by the Mideast Gulf war that started on 28 February. "Stickier core inflation from AI buildout, passthrough from the oil price shock, and lingering tariff effects will keep the Federal Reserve at bay for most of 2026," Oxford Economics said in a note. "Eventually, we expect higher energy prices will feed through to weaker consumer spending and a softer labor market, prompting the Fed to deliver its next rate cut in December." Prices for energy rose by 22.7pc in April from a year prior following 11.2pc originally reported the prior month, BLS said. Energy for export rose by 50pc after an 18.6pc gain. Core producer prices, excluding volatile energy and food, rose by 5.2pc in April after a 3.8pc gain the prior month. Prices for goods rose by an annual 7.4pc in April, led by gasoline, compared with 4.9pc originally reported the prior month Services rose by 5.5pc, partly led by margins for trade services, after a gain of 3.7pc. Food rose by 2.2pc in April after a 1.6pc gain the prior month. Transport and warehousing services rose by 12.2pc after a 6.1pc gain the prior month. Transportation of passengers rose by 11pc after a 7.5pc gain in March. On a monthly basis, seasonally adjusted PPI rose by 1.4pc in April following a 0.7pc monthly gain in March and 0.6pc gains each of the prior two months. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more

LME approves listing of Gem's nickel cathodes

Related news posts

Australia's Arafura reaches FID for rare earths project

Australia's Arafura reaches FID for rare earths project

EU parliament adopts steel safeguards

EU parliament adopts steel safeguards

Malaysia launches first grid-connected BESS

Malaysia launches first grid-connected BESS

EU eyes deducting carbon credits under CBAM

EU eyes deducting carbon credits under CBAM

US producer inflation surges by 6pc in April

US producer inflation surges by 6pc in April

Argus Scrap Markets

Argus Scrap Markets

Argus Seaborne Coal Outlook

Argus Seaborne Coal Outlook

Argus Line Pipe

Argus Battery Materials

Argus Tungsten Analytics

Business intelligence reports