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A strong performance in the electric vehicle (EV) sector is set to give a significant boost to demand for cobalt in 2021, an exclusive survey by Fastmarkets reveals.
After a rapid rise of domestic steel prices across Europe in the second half of 2020, market sources have been voicing concerns that the situation will echo the scenario in 2008 of a price spike quickly followed by a sharp fall.
Hot-rolled coil prices in the United States slipped from an all-time high to just under $57 per hundredweight ($1,140 per short ton) on Friday January 15, but remain poised to rebound amid tight supply, Fastmarkets understands.
Trade groups representing different segments of the aluminium industry appealed to the incoming United States presidential administration to take contrary actions on the Section 232 aluminium tariffs.
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