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Swedish stainless steel producer Sandvik is to cut 429 jobs from its Sandvik Materials Technology division later this year because of the negative impact on business of the Covid-19 pandemic
Ferrous scrap prices have ticked up slightly in Mexico, although overall steel production and industrial activity remain low, market sources told Fastmarkets.
China has released a minimal amount of quotas in its eighth announcement in 2020 to allow importers to source copper and aluminium scrap from overseas, Fastmarkets understands.
The Shanghai Futures Exchange will start trading aluminium and zinc options from August 10 after receiving approval from the China Security Regulatory Commission, the exchange said on Friday June 12.
The electric vehicle (EV) sector will continue to find support in the medium term despite the overall impact of Covid-19 on global automotive output in 2020, according to battery materials manufacturer Umicore.