Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Prices for flat steel products continued to increase in Russia's Central Federal District around Moscow during the quiet holiday week ended Monday November 8, on limited offers from the mills, sources have told Fastmarkets.Some believed that prices have reached their peak and would remain flat until the end of the year, due to rumors about planned short-term maintenance stoppages at mills and the...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely stable during the seven days up to Monday November 8, because of slow activity after a national holiday and Covid-19 restriction measures.Market participants continued to report that the available volumes of rebar were limited. This was mostly due to mills giving priority to replenishing their trade houses'...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
Flat steel import prices to the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday November 9, and the market direction was still uncertain because of different price moves from different regions, sources told Fastmarkets.Hot-rolled coil prices have been decreasing recently in China, but increasing in Europe.On the other hand, Indian flat steel exporters are offering lim...Read More
The Russian Federation's Ministry of Finance is preparing a list of machine-building plants to be excluded from a liquid steel excise tax, Aleksey Sazonov, Russian Federation deputy minister of Finance said on November 8 during a State Duma committee meeting on budget and taxes."A number of Russian machinery-building plants have their own small steelmaking capacities...They will be excluded from e...Read More
The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for global long steel markets remain good and indicate a satisfactory first quarter of 2022.The global long steel products market is stable at the moment and should remain so in the next quarter despite many uncertainties including power shortages and costs, logistical challenges, the Evergrande...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday November 5, with buyers passing on minor price adjustments to certain grades.Scrap sellers were putting strong pressure on clients, trying to apply price increases after the United States market reached settlements for November with increases of $20 per gross ton in prime scrap grades, and $40-60 per gross ton on most obsole...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
China will ban the creation of additional capacity for some energy-intensive industries - including for steel, coke, alumina and aluminium - in a bid to control pollution, the state council said in a guideline issued on Sunday November 7.The guideline did not specify the areas to be subject to the ban or the date that the measures will take effect.This comes alongside the statement that the supply...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
Base metal futures prices were largely down across the London Metal Exchange complex at the 5pm close of trading on Tuesday November 9, despite gains made on Monday.Prices reversed across the board on the LME, initially trending higher before eventually scaling back by the close.The US Dollar Index rose throughout the day, supporting this price move. It was up to 94.05 by 5pm, from 93.96 at 9am.Th...Read More
The recent downward correction in aluminium prices and premiums was expected after a strong uptrend in 2021, but tighter supply from China is set to continue supporting high prices, Brazilian aluminium producer Companhia Brasileira do Alum?-nio (CBA) said on Tuesday November 9.Chinese aluminium output cuts, meant to reduce carbon emissions, deepened a global supply deficit in the third quarter. Es...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said. First Co...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More