IN CASE YOU MISSED IT: 5 key stories from April 9

Here are five Fastmarkets MB stories you might have missed on Tuesday April 9 that are worth another look.

Among the key talking points across the battery raw materials markets ahead of Fastmarkets’ second annual Battery Materials Conference this week in Shanghai include the outlook for China’s cobalt metal imports, cobalt hedging appetites, whether a shift to nickel-rich cathode chemistries is being expedited by lower cobalt prices and lithium supply pressure, among others.

Société Generale will close its proprietary and over-the-counter (OTC) commodities business including its metals trading, as part of a global cost-cutting exercise involving 1,600 job losses, the company said on Tuesday April 9. The French bank is a Category I London Metal Exchange dealer and plans to continue this activity through its brokerage arm Newedge Group, informed sources confirmed to Fastmarkets.

Tata Steel India achieved its highest-ever crude steel output in the last quarter of its financial year ending March 31, 2019. Indian steel demand is expected to grow by 7.3% in 2019 to 102.3 million tonnes, compared with a forecast of 95.4 million tonnes for this year.

Guangxi Nanguo Copper Industry plans to start up its 300,000-tonne-per-year, Phase II project in the Guangxi Zhuang autonomous region of southern China on April 10, a company executive told Fastmarkets this week.

The impending bankruptcy faced by Vietnam’s Thai Nguyen Iron & Steel Joint Stock Co will have a limited impact on the Vietnamese ferrous scrap import market, market sources told Fastmarkets MB this week.

What to read next
Conversations and panel discussions at the Institute of Scrap Recycling Industries Roundtables in Chicago on September 14-16 largely centered around market uncertainty and navigating complex geopolitical landscapes during a time of energy transition and low domestic demand
Eagle Metals Inc is looking to diversify its copper and stainless steel supply chains in the face of soaring energy costs and rising demand, which could create supply deficits, according to the specialty reroll mill’s top executive
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday September 26, with the strong dollar and demand concerns still weighing on the market
Following market feedback on the discrepancy between machine shop turnings and other ferrous scrap grades in the Houston dealer selling market, Fastmarkets proposes a realignment of the remaining grades in Houston, effective from the October 2022 monthly settlement.
Mixed near-term demand and stagnant prices could place US buyers at an advantage during this year’s steel HRC trading season
Key talking points at Fastmarkets’ International Aluminium conference, held in Barcelona, Spain, on September 12-15
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