Cobalt market participants have reported that this week’s Russian invasion of Ukraine will compound the tightness in availability of units in the spot market while some opt to steer clear of handling Russian material
Russia’s belligerence against Ukraine has highlighted again the theme of national security and energy independence for the EU and the United States, in light of the steps that both are taking toward a future-proof energy transition
Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources
Turkish mills have been forced to pay $6 per tonne more for United States-origin ferrous scrap with the extreme curtailment of Black Sea billet shipments into global markets acutely intensifying demand for Turkish material, and there are more hefty increases for US ferrous scrap export prices on the horizon, sources told Fastmarkets
Export prices for Chinese heavy plate increased in the week to Tuesday March 8 amid active trading, which was partly fueled by fears over tightening supply amid the ongoing Russia-Ukraine war
The highly influential Midwest premium (MWP) for primary aluminium in the United States reached a fourth record-high in the past six assessments on Friday February 25, following Russia’s invasion of Ukraine the day before
Russia’s invasion of Ukraine and the unfolding Western sanctions are expected to worsen the situation for antimony concentrate supplies, adding extra pressure to an already tight market for the metal and its derivative trioxide
Steelmakers in Russia have been searching for export opportunities with countries that do not support Western sanctions, sources told Fastmarkets on Wednesday March 9
Tight availability of metal and firm demand continued to drive aluminium premiums higher in the week to Tuesday April 19, with the duty-unpaid premium in Rotterdam reaching a new high, while the US Midwest premium held steady at its highest ever.
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