India is stepping back from importing ferrous scrap and aiming to become a more self-sufficient steelmaker. But what issues led to this change of tactics and how will it affect global scrap trade flows? Fastmarkets investigates.

Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures.

Tata Steel’s recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.

Electric vehicles (EVs) and batteries feature prominently in US President Joe Biden’s $2-trillion plan to rebuild the country's infrastructure and economy.

US President Joe Biden’s $2-trillion infrastructure and jobs package is being applauded by domestic steelmakers and the United Steelworkers union.

The key containerized ferrous scrap import market of Taiwan continued to witness price gains this week amid tight supply of United States- and Japan-origin materials, sources told Fastmarkets.

Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.

Base metals prices on the Shanghai Futures Exchange were weaker on Wednesday March 31, while they track the movement of three-month prices on the London Metal Exchange on Tuesday, but LME prices have found support this morning.

Apart from aluminium, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Tuesday March 30, with broader markets also firmer having partially shook off, for now, contagion worries from last week’s hedge fund troubles.

Base metals prices on the London Metal Exchange were mainly lower this morning, Monday March 29, but those on the Shanghai Futures Exchange were stronger across the board while they reacted to Friday’s LME performance.