The price of shredded steel scrap imported into India and Pakistan crossed $400 per tonne on Friday December 11 as a result of high international prices and tight shipping availability, sources told Fastmarkets.

Base metals prices on the London Metal Exchange were down across the board this morning, Friday December 11, this after copper, zinc, nickel and tin set fresh highs for the year either on Thursday or earlier this morning.

Aurubis, Europe's biggest copper producer, posted improved earnings in its latest annual results, largely thanks to higher scrap refining charges (RC) since its acquisition of recycling firm Metallo in May 2020.

Nearly two months after Chinese steel mills were verbally notified to halt imports of Australian coal, market participants and industry analysts tell Fastmarkets about the consequences of the ban and their predictions for its future.

Small and medium-sized steel mills in Bangladesh have been forced to re-enter the market for scrap at high prices, market participants said on Thursday December 3.

Liberty Steel Group's move to acquire the steel unit of German industrial conglomerate Thyssenkrupp has moved to the due diligence phase, the UK-based steel company told Fastmarkets on Wednesday, December 2.

Fastmarkets is proposing to launch low-carbon aluminium differentials to its existing European P1020 and value-added product (VAP) premium contracts in $ per tonne to meet market demand for a low-carbon aluminium pricing mechanism.

Base metals prices on the London Metal Exchange were once again mainly stronger this morning, Tuesday December 1, helped by strong Chinese Caixin manufacturing purchasing managers’ index (PMI) data, but Shanghai Futures Exchange prices were more polarized.

Global ferrous scrap prices continued on an upward trend due to supply tightness and strong demand by steelmakers in the week ended Friday November 27.

With just 35 days remaining until the United Kingdom withdraws from the European Union, the country’s potential departure from the EU single market could see its domestic aluminium scrap market face business-critical trade barriers that, according to market participants, would send the UK’s scrap industry hurtling backwards.