Concerns over a potential decline in investments in the decarbonization of the steel industry are growing following the confirmation that Donald Trump will soon be returning as president of the United States, sources told Fastmarkets this week.

Fastmarkets proposes to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.

The publication of Fastmarkets’ MB-AL-0020 Aluminium P1020A premium, ddp Midwest US assessment for Wednesday November 13 was delayed due to reporter error. Fastmarkets’ pricing database has been updated.

It was already getting more difficult to source nickel qualified as compliant to the Inflation Reduction Act (IRA). Under a future Donald Trump administration, it’s likely to get harder still, in the short-term at least.

Fastmarkets advises that, as of Monday November 11, certain monthly North American ferrous scrap assessments are yet to settle.

Read a snippet of our weekly lumber report, analyzing how the US election and interest rate cuts have impacted prices.

On Friday November 8, 2024, Fastmarkets published MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.

Learn how changes in trade, housing and immigration policies could impact the US pallet market.

Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.

Donald Trump’s second term as US president is not likely to have too much of an impact on China’s electric vehicle (EV) and new energy markets, despite broader concerns over potential tariff hikes which might bring challenges to both China and the US, sources told Fastmarkets on Thursday November 7.