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.

Will US automakers pay the price for green steel?

The mood in the European hot-rolled coil market soured in the week ended Friday August 27 after both buyers and producers started to return after the summer holiday in August.

Turkish mills were largely inactive in the import scrap market over the week ended Friday August 27, while prices in key Asian markets were affected by the low levels of interest among mills for imported cargoes.

Prices for shredded steel scrap into Pakistan and India have decreased in the week to Friday August 27, sources told Fastmarkets.

Turkish steel producers made no new scrap bookings on Friday August 27, ending the working week with a single cargo deal amid limited finished steel sales, market participants said.

One western aluminium producer has extended an offer for fourth-quarter delivery aluminium to Main Japanese ports (MJP) at a premium of $250 per tonne cif, market participants told Fastmarkets on Friday August 27.

Fastmarkets proposes to increase the pricing frequency for its spodumene assessment to fortnightly.