Understanding the events of 2008 versus 2020 as experienced across the leading steel-producing regions

Steel scrap prices continued to surge this week due to sustained demand from buyers in all markets, with the exception of India. Downstream steel prices have supported raw material price increases in Asia, with buyers melting scrap to feed demand for billet and long steel products.

ArrowMetals will become a seller of nickel sulfate after agreeing a tolling arrangement with Cyprus refinery Hellenic Minerals to produce battery-grade material.

Chile produced 457,100 tonnes of copper in January, down by 0.7% from 460,100 tonnes in the same month in 2020, the Chilean copper commission, Cochilco, said on Tuesday March 2.

Pakistan's government has said that Fastmarkets' import index for ferrous scrap will be used for customs valuations of ferrous scrap, according to an official ruling published on February 25.

Spot prices in the key Vietnamese scrap import market rebounded strongly during the week to Friday February 26, even though buyers with inventories were not actively purchasing due to high prices and the narrow scrap-billet spread, according to market sources.

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

Chinese steelmakers looking to replenish steel scrap stocks after returning from their new year holiday on Thursday February 18, have raised bid prices for both domestic and imported material, sources told Fastmarkets.

Fastmarkets is proposing to reduce the frequency of its two low-volatility lead premiums for Southeast Asia to monthly from their current bi-weekly basis.

With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.