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Global commodity prices are expected to stay high in the short term and China will continue to take measures to ensure supplies and stabilize prices, China’s National Bureau of Statistics said on Monday August 16.
Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.
The price of shredded steel scrap into Pakistan and India diverged on Friday August 13 with Pakistan reporting restocking behaviour while demand in India remained low, sources told Fastmarkets.
The union at Escondida and BHP, the Chilean copper mine’s majority shareholder and operator, have agreed to extend wage negotiations until Friday August 13, so a deal can be signed and a strike averted.
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