American Metal Market is part of Fastmarkets

ArcelorMittal officially opened on Wednesday November 13 the expansion of its galvanizing line at the Vega unit, in southern Brazil, aiming to increase the supply of higher value-added materials in the country amid an expectation of reduced imports, executives said.

Fastmarkets proposes to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.

It was already getting more difficult to source nickel qualified as compliant to the Inflation Reduction Act (IRA). Under a future Donald Trump administration, it’s likely to get harder still, in the short-term at least.

India should invest to avoid its dependance on imports for almost 100% of its cobalt, lithium and nickel requirements, according to a report by the think tank Institute for Energy Economics and Financial Analysis (IEEFA). But slow government action and a focus on short-term costs keep India reliant on imported critical minerals, sources told Fastmarkets.

A California federal jury has issued a $110 million anti-trust verdict against Commercial Metals Company on November 5, finding the Texas-based rebar producer liable for multiple anti-trust violations, while awarding Pacific Steel Group (PSG) millions of dollars due to lost profits and additional damages.

Steelmakers that lag behind in decarbonization will be first to be phased out after green steel capacity rises to meet future demand, a senior advisor from a major Chinese steel company told delegates at the China Steel Industry Summit for 2025.