Fastmarkets will launch a weekly import price assessment for steel billet on a cfr China basis from February 26 after a month of consultation.

The board of Chilean lithium producer Sociedad Quimica y Minera (SQM) has approved the company’s investment in the Mount Holland lithium project in Western Australia, it said on Wednesday February 17.

Recovery hopes tied into the rollout of Covid-19 vaccines and some brighter economic data has driven up bond yields that in turn has lifted the dollar, and that seems to be creating some hesitancy in the metals this morning, Wednesday February 17.

After reviewing the initial feedback on its proposal to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid, Fastmarkets MB is extending the consultation period by two weeks.

With China still on holiday, base metals prices on the London Metal Exchange have been consolidating this morning, Tuesday February 16, even though broader markets remain upbeat.

Egypt's use of rebar was almost halved in January 2021, with the country consuming just 308,000 tonnes of the construction material - a 46.53% year on year drop from January 2019's 576,000 tonnes.

Steel companies ArcelorMittal and Ovako have both begun to offer the first certified "green steel", following increased scrutiny on emissions from customers, the two companies announced separately.

Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc.

Hot-rolled coil prices in the United States have fallen by nearly $20 per short ton ($1 per hundredweight) one day after reaching an all-time high, while buyers weighed the risks of purchasing material at these levels.

Fastmarkets will publish inferred low-carbon midpoint calculations for some aluminium P1020A and value-added product (VAP) markets in line with the launch of the low-carbon aluminium differentials.