Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates’ biggest steelmaker, Emirates Steel.
China’s domestic stainless steel prices dropped over the past week due to inventory pressure experienced by a major mill, which went on to weigh on export prices.
Chinese lithium producer Ganfeng Lithium has signed a long-term supply agreement for lithium compounds with BMW to supply their designated battery or cathode makers, it said on December 12.
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle sector are coming into play.
China’s spot silico-manganese price rose in the week ended Friday December 6 and has maintained the upward momentum so far this week after some alloy smelters raised their offers amid an increase in futures prices and growing buying interest from mills and traders.