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Global used cooking oil (UCO) prices were highly volatile throughout 2024 amid market uncertainty, trade flow and policy changes, with market sources expecting the prices to increase further in 2025, pushed up by higher demand and increased biofuel production obligations.
China issued its first national standard for black mass material used in lithium-ion battery recycling on the final day of 2024, with market participants expecting that it will provide clearer guidance on importing the material into the powerhouse country, Fastmarkets heard on Friday January 10.
Fastmarkets will discontinue its calculations of the MB-STE-0423 steel scrap shredded, index, delivered Midwest mill, $/gross ton and the MB-STE-0424 steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton, and its assessment of the MB-STE-0882 steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton.
In December, increased demand from various industries led to a 5-10% rise in EU animal fats prices, supported by high seasonal rendering activity and regulatory factors affecting vegetable oil supply.
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