Major futures contracts for key non-ferrous metals on the Shanghai Futures Exchange (SHFE) – aluminum, nickel, and copper – moved in contrasting directions during the May 22-29 week. Aluminum and nickel futures declined, while copper posted a slight gain, exchange data show.

In the short term, the M2609 contract is likely to trade in the range of Yuan 2,950-3,050/tonne. Attention should focus on U.S. soybean weather conditions and global macroeconomic developments. Fundamentals, including favorable U.S. soybean planting progress, sufficient South American soybean supply

Major stainless mills in Taiwan have decided to raise their list prices of 304-grade stainless products for local sales in June, aiming to offset higher production costs caused by firming raw material prices and surging electricity rates.