IN CASE YOU MISSED IT: 5 key stories from February 28

Here are five Fastmarkets MB stories you might have missed on Thursday February 28 that are worth another look.

Hong Kong Exchanges and Clearing, owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.

The London Metal Exchange has closed its market consultation on proposed arrangements for the use of enforcement proceeds, highlighting three principal options it plans to consider.

Chinese battery materials producers, the largest consumers of cobalt sulfate and cobalt tetroxide, have hesitated in purchasing any cobalt salts this week amid rapid falling international cobalt metal prices.

Any impact to Chinese nickel pig iron production from an expected power shortage in Inner Mongolia during April and May is likely to be limited, market participants said.

Requests by California Steel Industries to exclude the steel slab it imports from Japan, Brazil and Mexico from Section 232 tariffs and quotas have been denied, the company said in a letter to customers dated Tuesday February 26.

What to read next
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
The London Metal Exchange is facing lawsuits seeking damages collectively worth more than half a billion dollars for losses that investors allege they suffered as a result of nickel trades being canceled by the exchange last year
The publication of a number of Fastmarkets’ price assessments was delayed on Thursday March 16 for technical reasons.
Continued tightness of class one supply within Europe and increased buying interest amid falling London Metal Exchange nickel prices and fresh liquidity have prompted an increase in premiums within Europe, while US and Chinese premiums remain steady for now
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