Fastmarkets has updated its formula for calculating the daily physical nickel arbitrage in Shanghai, after China announced it would lower the import tax on certain non-alloyed nickel from 2% to 1%, from January 1, 2021.

Bangladeshi steelmakers are likely to re-enter the market soon for purchases of deep-sea scrap cargoes due to low inventory levels, sources told Fastmarkets on Thursday December 31.

An increase in the number of physical scrap cargoes offered in key import market Vietnam in the the week to Thursday December 31 has dampened sentiment, market sources told Fastmarkets.

The price increases for imported containerized ferrous scrap into Taiwan eased in the week to Thursday December 31 amid a year-end holiday lull.

The rapid and significant falls in manganese ore prices in 2019 and 2020 have created "frozen stocks," which are believed to have acted as a buffer for the ore market while also demonstrating some different characteristics over both years, sources told Fastmarkets.

Hot-rolled coil prices in the United States were stable on Wednesday December 30 compared with recent days.

Fastmarkets proposes to make two amendments to the specifications of its daily price for steel billet, import, cfr Southeast Asia.

Hot-rolled coil prices in the United States dipped marginally on Tuesday December 29, moving just 7 cents per lb below the more than 12-year high reached a day earlier.

The United States Commerce Department is making changes to the way it administers the Section 232 tariff exclusion process.

Following a consultation period, Fastmarkets will change the publication day of its four China minor metals price assessments from Wednesday to Friday, 2-3pm London time.