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S&P Metals

• Russian financial system increasingly backed by commodity collateral as default looms
  Russia will increasingly use barter and specific currency transactions for energy supplies, an S&P Global Commodity Insights analyst said May 24, as a default looms for billions of dollars in foreign currency reserves if the US allows a key waiver to expire May 25. "Ultimately, Russia is likely to see its financial system backed by […]
• Copper, aluminum recycling opportunities emerge as metals demand grows: BIR
  Market opportunities are emerging for copper and aluminum product recycling, due to growing demand for copper and aluminum metal overall, according to speakers at the International Recycling Bureau (BIR) conference in Barcelona this week. Of the 14 million mt of secondary copper generated annually on a global basis, only 9 million mt/year are currently recycled, […]
• North American aluminum demand rises 5.3% in Q1: Aluminum Association
  North American aluminum demand in the first quarter rose about 5.3% on the year after investment in the US aluminum industry hit its "highest level in decades" over the last 12 months, the US-based Aluminum Association said May 24. "The picture for the US aluminum industry remains very strong," Aluminum Association CEO Charles Johnson said […]
• Britishvolt to acquire German battery cell maker EAS for Eur36 mil
  Britishvolt has agreed to acquire advanced technology battery cell developer and manufacturer EAS from Monbat Group for Eur36 million ($38.6 million), the UK-based battery developer said May 24. The two companies have signed a sales and purchase agreement for EAS, which is developing and producing large format lithium-ion cells using innovative and compact electrode production […]
• Nickel market to swing to mild surplus persisting beyond 2022: Nornickel
  Global primary nickel production may grow 19% in 2022 to 3.21 million mt and the nickel deficit of 2021 should swing to a mild surplus of about 40,000 mt in 2022, albeit comprising mostly low-grade metal, according to Russia's Nornickel. Nornickel made allowance though that the abnormal price volatility, the energy supply crunch, new COVID-19 […]
• EU scrap metal export curbs would be backwards step in global decarbonization: BIR
  Scrap metal export controls out of the European Union would be a step backwards in the global decarbonization drive and could also result in lower scrap arisings within the European region, speakers at the International Bureau of Recycling, or BIR, convention in Barcelona said May 23. This could fly in the face of the aim […]
• Battery metal demand set to rise substantially by 2030: IEA
  Demand for battery metals is expected to increase substantially by 2030 and exceed projections, especially lithium, according to International Energy Agency's energy analyst Leonardo Paoli on May 23, who added that additional investment into mineral extractions need to be happening today. Higher battery demand had already resulted in the price of battery metals skyrocketing, with […]
• Pakistan's coal crisis prompts industries to shut plants, reduce capacities
  Several non-power sectors in Pakistan, including cement and steel plants, are either operating at significantly reduced capacities or shutting down plants on a temporary basis as imported coal prices remain elevated amid bleak domestic output, market sources told S&P Global Commodity Insights. Besides, power plants have also been running at lower capacities due to short […]
• Indian steel fraternity livid over unexpected, steep export tariffs
  India's sudden and unexpected revision of export duties on steel products is likely to result in short-term uncertainty and long-term structural ramifications on global steel markets, sources told S&P Global Commodity Insights May 23. Effective May 22, India hiked export duties on several products covering iron ore and steel, the Ministry of Finance said. Market […]
• India raises export duty on iron ore, Chinese reception mixed
  India has raised export duties of iron ore raw materials in an attempt to reduce the cost of domestic steel production, according to a notification released by the country's Ministry of Finance May 21. The new export duties came in to effect on May 22 and duties for commonly exported iron ore raw materials such […]