Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.

China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace.

Due to a processing error, the publication of some of Fastmarkets’ minor metals price assessments were delayed on Wednesday May 5.

Turkish steel mills resumed their deep-sea scrap purchases for June shipments with another sharp increase in prices, market participants told Fastmarkets on Thursday May 5.

Fastmarkets is proposing to launch a monthly assessment of the discount for No1 copper material, candy/berry, on a cif China basis.

Fastmarkets will, on Friday May 7, launch a new weekly price index for the premium that high-quality 65% Fe blast furnace grade iron ore pellet commands on a spot basis above the 65% Fe Fines index.

Fastmarkets is adjusting the impurity ranges for its 65% Fe iron ore blast furnace pellet index from Friday May 7.

Liberty Steel Group is reshuffling its board to bring in four additional roles including a chief restructuring officer, the company said on Wednesday May 5.

Fastmarkets is proposing to extend the delivery window for its price assessments of aluminium 6063 extrusion billet premiums in Europe.

The Turkish deep-sea scrap import market went quiet after the sharp increase in prices following China’s cancellation of export tax rebates on some steel products, market participants said on Tuesday May 4.