IN CASE YOU MISSED IT: 5 key stories from August 2

Here are five Fastmarkets MB stories you might have missed on Friday August 2 that are worth another look.

Three-month base metals prices on the London Metal Exchange were predominantly weaker at the close of trading on Friday August 2. The downturn was largely prompted by fresh tariff threats against China by United States President Donald Trump that sparked caution among investors and prompted them to reduce risk-exposure in commodities.

Chinese customs authorities are considering introducing a new import standard for zinc concentrates to alleviate pollution of smelting operations, according to a consultation document seen by Fastmarkets.

China’s customs agency has held discussions with the country’s major copper smelters with the aim of creating stricter limits on impurities contained in imported copper concentrates, four sources with direct knowledge of the matter told Fastmarkets.

Soaring iron ore prices have pushed Chinese hot metal costs up above those for ferrous scrap in recent months, stimulating greater use of the secondary raw material, according to calculations by Fastmarkets’ research team.

In battery raw materials, international cobalt prices increased on stronger sentiment in China and higher offer prices while the battery-grade lithium hydroxide spot price fell sharply for the week to Thursday August 1 after China’s lithium market moved lower due to ample availability of material and depressed demand.

What to read next
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer’s executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas
US special bar quality steel prices rose in January in line with rising scrap and alloy costs, according to market participants
European metal industry association Eurometaux has called on the European Commission to follow the lead shown by the Inflation Reduction Act and deliver a “powerful” policy to support the industry in the EU while it tries to keep up with the move to a new generation of energy markets
The fallout from Russia’s invasion of Ukraine is changing global trade flows for bauxite, with Brazilian material once again flowing into China and with the introduction of export restrictions elsewhere likely to influence availability through 2023
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.