IN CASE YOU MISSED IT: 5 key stories from September 18

Here are five Fastmarkets MB stories you might have missed on Friday September 18 that are worth another look.

China has issued its 12th batch of non-ferrous scrap metal import quotas for 2020, with a much larger volume of copper scrap being approved to enter the country than in the previous two rounds of quotas. The latest batch permits 136,335 tonnes of copper scrap to be imported into China, the China Solid Waste & Chemicals Management Bureau said on Thursday September 17.

Most trade associations reacted positively to the surprise announcement on Tuesday September 15 that the United States was removing tariffs on aluminium imported from Canada, but some took issue with the quota system that has taken its place.

The United Arab Emirates Ministry of Economy has extended the ban on exports of steel and paper scrap from the country for a period of four months, the ministry said on September 13.

South American steel import prices rose during the week September 18 with deals reported at higher levels. But new offers, particularly from China, were lower, indicating that the recent price uptrend was slowing down, market participants have told Fastmarkets.

The European charge and high-carbon ferro-chrome benchmark for the fourth quarter 2020 is $1.14 per lb, unchanged for the third consecutive quarter.

What to read next
Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.
Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.
Li-Cycle announced on Thursday October 31 that it had entered an agreement with Glencore to sell 100% of the premium nickel-cobalt mixed hydroxide precipitate (MHP) production at its stalled hub in Rochester, New York – a step that could support Li-Cycle’s efforts to finalize a loan with the US Department of Energy (DOE).
Unprecedented supply tightness and record low treatment and refining charges (TC/RCs) are likely to challenge copper smelters in 2025 – even more than in 2024, sources told Fastmarkets.
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.
Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.