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.

Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 30 days at the end of November, according to the London Metal Exchange’s latest queue report.

The global economy looks stronger again - Chinese exports were up by 21.1% in November year on year - but the base metals were mixed on Monday December 7, having been exceptionally strong recently , so perhaps the market realizes a lot of the good news is baked in already.

Gary Nagle will become the new chief executive officer of Glencore when Ivan Glasenberg retires during the first half of 2021, the company said on Friday December 4.

Swiss miner-trader Glencore and Chinese battery materials producer GEM have extended their agreement for cobalt hydroxide supply by another five years.

The recent surge in copper prices might not lead to swathes of scrap being suddenly released into the market, as happened after a similar situation nearly a decade ago, sources told Fastmarkets this week.

It has been almost one year since the start of the Covid-19 outbreak and global economies are still recovering from the fallout. Fastmarkets analyzes the effects of the pandemic on global cobalt supply and trade flows.

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.

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.

Deshnee Naidoo has been appointed as director, finance & business development, base metals, at Brazilian miner Vale, Fastmarkets understands.