A correction has been issued for this article. The update can be found here.

Steel billet buyers in China have continued to make import purchases in recent days amid expectations that further domestic production cuts will be imposed at the start of next year, sources told Fastmarkets on Tuesday September 7.

Domestic prices for hot-rolled coil in Northern Europe and Italy were broadly flat during the week ended Friday September 3 amid subdued trading activity, with buyers holding back from making deals and mills refusing to accept lower prices, Fastmarkets has learnt.

Poor demand in key import markets in Turkey and Asia continued to pull steel scrap prices downward in the week ended Friday September 3. High freight costs and a lack of container ships also damped spot trading liquidity.

Prices for shredded steel scrap into Pakistan and India remained steady in the week to Friday September 3 after trading activity returned, sources told Fastmarkets.

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Friday September 3, but overall the picture is one of consolidation ahead of today's employment report from the United States.

A potential retroactive lowering of biofuel blending obligations for 2020 is unlikely to affect biofuel supply and production, experts...

Chile's state-owned copper producer Codelco has removed the threat of strike action by signing a final labor deal with the unions representing employees at its El Teniente division.

Fastmarkets has corrected its daily indices for steel scrap, HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, and steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, which were published incorrectly on Tuesday August 31 due to a calculation error.

Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined.