Global steel scrap prices surged in the week to Friday May 7 and could well break through the $500 per tonne cfr mark, starting in Asia, market sources have told Fastmarkets.

Construction work will restart in the near future at the Kniwana lithium hydroxide plant in Western Australia after Australia-based exploration and mining company IGO joined the venture at the end of 2020, a spokesperson at joint-owner Tianqi told Fastmarkets on Tuesday May 4.

China’s new and stricter steel capacity swap ratios will cool the overheated steelmaking raw materials market and pave the way for more electric-arc furnaces to be used in its mammoth steel industry, market sources told Fastmarkets this week.

Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday May 7, as were broader markets.

The battery-grade seaborne Asian lithium carbonate market continued to post gains over the week on Thursday May 6 amid tight spot availability.

Some 73% of the all-time record 17.4 million mt of soybeans exported from Brazil in April were bound to China, with the...

Turkish steel producers continued booking deep-sea scrap for June shipment despite fast-rising prices, sources told Fastmarkets on Thursday May 6.

The price of copper has hit $10,000 per tonne once before, but this time around things are different.

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.