American Metal Market is part of Fastmarkets

Jinnan Iron & Steel Group is the latest company to join the push to expand China’s steelmaking footprint in the Middle East and is working with Brazil’s Vale to establish an iron ore concentration plant at the Sohar Port and Freezone in Oman, Fastmarkets understands.

China and India are ramping up electrical steel production through new joint ventures and acquisitions to meet rising global demand and sustainability goals.

A new Chinese state-owned enterprise (SOE) called China Resources Recycling Group (CRRG) has been established to build a national platform for recycling and reusing resources, according to an announcement from Chinese officials on October 18. While details of the company’s specific plans remain scarce, market participants remain concerned about weak market fundamentals, sources told Fastmarkets..

Australian lithium producer Pilbara Minerals will be placing its Ngungaju plant on care and maintenance from December 2024, the company announced on Tuesday October 29.

Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.

China’s domestic and export steel hot-rolled coil prices rose on Monday October 28, reflecting a robust performance in the futures market, but the upward price movement did not translate into increased demand.