IN CASE YOU MISSED IT: 5 key stories from April 7

Here are five Fastmarkets stories you might have missed on Tuesday April 7 that are worth another look.

The second quarter of 2020 will be one of volume survival due to massive capacity cuts in scrap, billet and long steel products globally amid Easter and Ramadan holiday periods and during efforts to contain the coronavirus, the International Rebar Producers & Exporters Association (Irepas) said on Friday April 3.

Hong Kong trading house Noble Group Holdings will close its base metals and rare earths trading desks as part of widespread board-mandated staffing cuts, informed sources told Fastmarkets.

Glencore-owned Mopani Copper Mines is to transition its operations to care-and-maintenance status from Wednesday April 8, but will continue to process on-site material at the associated Zambian smelter and refinery until further notice.

The Chinese high-carbon ferro-chrome market continued to rise in the week to April 3 after smelters reduced their supply in the spot market, despite the weak stainless steel sector.

Striking the right balance between supply and demand for lithium has been difficult, given the still relatively nascent demand for electric vehicles (EVs) and the time needed to ramp up lithium production.

What to read next
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.
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.
Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.
Li-Cycle announced on Thursday October 31 that it had entered an agreement with Glencore to sell 100% of the premium nickel-cobalt mixed hydroxide precipitate (MHP) production at its stalled hub in Rochester, New York – a step that could support Li-Cycle’s efforts to finalize a loan with the US Department of Energy (DOE).
Unprecedented supply tightness and record low treatment and refining charges (TC/RCs) are likely to challenge copper smelters in 2025 – even more than in 2024, sources told Fastmarkets.
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.