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

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

Electric vehicles are “the best thing to happen to the nickel market since the invention of stainless steel,” Nornickel’s marketing director told Fastmarkets in an interview, and his company’s high-quality sulfide ore deposits in Norilsk give the Russian mining company a competitive edge in the burgeoning battery market.

The Indian Supreme Court has given the go-ahead for ArcelorMittal to acquire Essar Steel, bringing an end to years of legal wrangles and giving the world’s largest steelmaker access to a much sought-after market.

Chilean copper miner Antofagasta Minerals has begun to settle annual copper concentrate supply contracts with smelters in Japan and China for 2020 supply, consolidating a benchmark set by US miner Freeport McMoRan and Chinese smelter Jiangxi Copper last week.

Having declared force majeure earlier this week, Anglo-Australian miner Rio Tinto is to resume shipments of aluminium from Canada after an eight-day rail strike came to an end.

Limited demand for rebar and low finished steel prices in Turkey are starting to have a big influence on deep-sea scrap deliveries, with Turkish mills stepping back from the market as a result.

What to read next
Read more from senior analyst Andy Farida on how the price action in LME nickel has played out in the first half of 2024
Tight aluminium scrap availability, the increase in container costs, sluggish demand in the US and the US market’s current indifference to rising premiums in Europe and Asia were the top subjects discussed during the Harbor Aluminum Summit that took place in Chicago on June 4-6
Germany-based copper recycling and non-ferrous metal provider Aurubis has started commissioning their secondary smelter in Augusta, Georgia, and could eventually introduce black mass recycling to the facility
Base metals on the London Metal Exchange were mixed in morning trading on Monday June 10, with three-month prices lacking direction amid thin traded volumes due a public holiday in China, the largest market for base metals
Copper concentrate treatment and refining charges have repeatedly fallen to record-low levels over the first five months of 2024
The publication of Fastmarkets’ assessments for the nickel briquette premium, delivered Midwest US and the nickel 4x4 cathode premium, delivered Midwest US for June 4 were delayed because of incorrect methodology application.