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

Here are five Fastmarkets MB stories you might have missed on Wednesday August 7 that are worth another look.

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.

What to read next
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
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