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S&P Metals

• 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 […]
• Scrap metal prices may have bottomed out after volatility: BIR president
  Scrap metal prices may now be bottoming out following recent high volatility, the president of the Bureau of International Recycling, Tom Bird, said during a press briefing May 22 at the start of a BIR congress in Barcelona. Prices rose dramatically as a result of Russia's invasion of Ukraine Feb. 24, on fears of a […]
• US Southwest braces for triple-digit heat in early-season risk to gas prices
  Spot natural gas prices across the desert southwest could be in for an early summer rally in late May as temperatures at the Southern California border, in Las Vegas and Phoenix top 100 degrees Fahrenheit, likely fueling a surge in cooling demand across the region, according to current forecasts. Temperatures across the Southwest and even […]
• FUTURES WRAP: LME scrap contracts fall again on week, trading volumes drop
  Near-term scrap futures contracts on the London Metal Exchange saw losses over the week to May 19, while trading volumes also decreased dropped. Platts, part of S&P Global Commodity Insights, assessed the May contract down $2/mt on the week at $480.50/mt May 19. The June contract fell $18.50/mt to $451/mt, July lost $9/mt to $455/mt, […]
• Australia's IGO produces first battery-grade lithium hydroxide from Kwinana refinery
  Australian metals producer IGO announced the first production of battery-grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery in Western Australia, the company said May 20. The Sydney-listed company said the qualification process with offtake customers will start once product samples have been independently verified. Platts assessed CIF North Asia lithium carbonate at $76,000/mt May […]
• China's manufacturing steel demand takes hit from COVID-19 outbreak; recovery to be slow
  China's manufacturing activity, especially in the country's economic hub of Shanghai and nearby areas, has been showing recovery signs since mid-May. However, the pace of recovery has remained slow so far and steel demand from the sector is likely to stay lackluster until manufacturing production could return to normal in June. China's manufacturing production index […]