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Coal trading has become too risky, a trader said on Thursday February 21 following news that customs authorities in Dalian, a major city in northeastern China, had slashed the yearly coal import quota for ports under their jurisdiction by 25%.
Zinc smelters have submitted bids for treatment charges (TCs) of up to $280 per tonne for annual contracts, kicking off concentrate supply negotiations ahead of the International Zinc Association (IZA) conference to be held in Scottsdale, Arizona, February 24-27.
Aluminium scrap exports from the United States surged to a five-year high in November, putting 2018 on track to be the highest-volume export year for the metal since 2014, while copper scrap shipments retreated.
The domestic Chinese battery-grade lithium hydroxide spot price fell by more than 3% in the week to Thursday February 21 although the carbonate assessment held firm – a pattern that was reversed in the seaborne market, where the carbonate price dropped week on week and the hydroxide price was steady.
Brazil’s apparent consumption of steel totaled 1.54 million tonnes in January, down 5.6% from 1.63 million tonnes during the same month in 2018, national steel association Instituto Aço Brasil said on Friday February 22.