The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.

Australian lithium spodumene concentrate producer Pilbara Minerals has agreed to an additional offtake agreement with Chinese lithium producer Yibin Tianyi, it said on Monday March 15.

Increasing scrap flows and bearish appetites led to softer prices in the majority of international steel scrap markets in the week to Friday March 12.

Economic and policy experts at aluminium, steel and scrap trade associations are hopeful about demand and policy prospects in 2021, but remain wary about potential problems that could still arise from the Covid-19 pandemic.

The United States’ transition to new energy will require increased domestic mineral production, Energy Secretary Jennifer Granholm said on Tuesday March 9.

Trafigura’s warehousing and logistics arm, Impala Terminals, has launched a certified carbon-neutral freight service allowing its customers to offset their indirect greenhouse gas (GHG) emissions by financing carbon projects worldwide.

The three-month nickel price on the London Metal Exchange fell to $15,910 per tonne during morning trading on Tuesday March 9, while the aluminium price slid by 1%, with consolidation mode still in force across the complex as a number of macroeconomic factors affect sentiment.

China will actively promote the development of offshore wind power as part of its effort to build clean energy infrastructure across the country, according to a carbon neutrality action plan issued by State Grid Corporation of China on Monday March 1.

Base metals prices on the London Metal Exchange were in consolidation mode on Tuesday March 2, with tin declining slightly following a near 9% dive on Monday and nickel decreasing by 1%, amid a stronger US Dollar Index, which is at its highest since the first week of February.

Market growth and decarbonization collide to create an unclear future for steelmaking