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China’s hot-rolled coil prices dropped in both the spot and futures markets on August 26, amid escalating trade tensions between that country and the United States.
While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrome this week, the majority of market participants expect a price increase in near future tenders, including for September, Fastmarkets understands.
Brazilian aluminium producer Companhia Brasileira de Alumínio (CBA) has signed an agreement to buy Arconic’s operations in Itapissuma, in Brazil’s northeastern state of Pernambuco, for $50 million, CBA announced on August 26.
Glencore AG has provided a $5-million loan facility to First Cobalt Corp to complete work associated with a recommissioning and expansion of its refinery in Canada.
China’s imports of copper scrap totaled 130,000 tonnes in July, down by 39.3% from the same month last year, according to the latest Chinese customs data.