Metal brands deliverable on the London Metal Exchange will have to comply with international standards for responsible sourcing by the end of 2020, if a consultation by the exchange is approved by market members, Fastmarkets has heard.
Negative pressure arising from delays in the electric vehicle and energy storage markets have reduced demand for Umicore’s cobalt cathode material, Marc Grynberg, the company’s chief executive officer, said during a conference call on Tuesday April 23.
Scrap metal importers in China can apply for import quotas starting in mid-May after the government rejected plenty of applications earlier this year, the Recycling Metal Branch of industry lobby group China Nonferrous Metals Industry Association said.
The LME has abandoned a planned accelerated time line for its cobalt contract to meet new responsible sourcing principles, chief executive officer Matthew Chamberlain said on April 23.
Any improvement in automotive sales in China could support lead prices, ICBC Standard Bank said in a research note on April 17, noting that the contraction in the country’s automotive sales is losing momentum.
Here are five Fastmarkets MB stories you might have missed on Tuesday April 23 that are worth another look.