IN CASE YOU MISSED IT: 5 key stories from March 25

Here are five Fastmarkets stories you might have missed on Wednesday March 25 that are worth another look.

German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers’ trade union, it said on March 25.

Falling demand, exacerbated by the novel coronavirus outbreak (2010-nCoV) further causing market uncertainty, means market participants expect negotiations for second-quarter aluminium ingot supply to Japan to continue for longer than usual.

Europe’s third largest lead smelter Recylex will stop all lead production due to weak demand, the company said in an exchange release after market trading on March 25.

Chinese chrome ore buyers have expressed concern at the possibility of supply tightness emerging in the coming months following news that South African mines and furnaces will shut amid a nationwide lockdown later this week.

The Ministry of Transport & Communication in Zambia has recommended the all cross-border cargo shipments be suspended to curb the spread of the novel coronavirus (2019-nCoV), according to a letter seen by Fastmarkets.

What to read next
The Inflation Reduction Act in the United States may ironically cause global metal market prices to rise for some metals used in electric vehicles (EVs), Fastmarkets sources said
An alarming drop in water levels in Germany’s Rhine River and other key waterways in Europe has led to massively strained logistics in shipping commodities across Europe, driving up costs and exacerbating material supply, sources told Fastmarkets
Fastmarkets is proposing a realignment of its dealer selling price for ferrous scrap machine shop turnings in Houston, effective from the September 2022 monthly settlement.
Participants in the US steel market were divided on the impact of a price increase from Nucor’s sheet mill group this week, with some suggesting hot-rolled coil prices could fall further while others were optimistic that announcement could halt - or even reverse — the recent downtrend
Chromite prices rose further in the two weeks to Tuesday May 31 on support from cost pressures and logistical issues in South Africa
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
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