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Rising trade tensions between Japan and South Korea threaten to disrupt the lithium-cobalt battery market in East Asia in a rapidly developing sideshow to the United States-China face-off.
Glencore’s decision to shut its Mutanda copper-cobalt mine and reduce the production guidance for its Katanga cobalt asset, both in Democratic Republic of Congo, spurred producers and consumers to look for higher spot prices toward the end of Fastmarkets’ pricing session on Wednesday August 7. The move also has cobalt market participants expecting a further uptick in cobalt hydroxide payables.
Bulk cargo sales to Turkey, Bangladesh and Vietnam have infused some energy into the US ferrous scrap export market, showing signs of stability in prices.
Two former employees of Gerald Group have filed a lawsuit in the United States alleging wrongdoing and misconduct by the commodity trading company’s senior management – accusations that Gerald denies.
Cargill has closed its base metals risk management business with the departure of staff across the United States, including Minneapolis-based Federico Stiegwardt, global head of the unit.