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Aug 15, 2024 | 
fastmarkets.com | Charlotte Price
The government said the funding was for “immediate release” to support those local businesses that rely on Port Talbot steelworks by helping them turn toward new markets and customers. Details of exactly how to access the funds will be announced soon, the government added.
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Aug 15, 2024 | 
fastmarkets.com | Charlotte Price
The contracts, which are underpinned by Fastmarkets’ cobalt hydroxide, min 30% Co, inferred, China price, launched in October 2023. The 1,000-lots mark was reached for the first time on Monday August 12 following daily trading activity of 120 lots. August has been the busiest month since launch, with a total of 720 lots traded. The trades on Monday were spread across the six contracts dated for the second half of 2025 at a price of $7.50 per lb.
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Aug 15, 2024 | 
fastmarkets.com | Charlotte Price
The increase in premiums for copper cathode imported to China slowed in the week to Tuesday August 13 amid less favorable import conditions and cautious buying after the recent rises, Fastmarkets learned. Fastmarkets assessed the daily benchmark copper grade A cathode premium, cif Shanghai at $50-68 per tonne on Tuesday, up by $5-7 per tonne from $45-61 per tonne on August 6.
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Aug 14, 2024 | 
fastmarkets.com | Charlotte Price
Passenger car sales in China reached 1.595 million units in July, CAAM said, of which 853,000 units were NEVs. In July 2023, passenger car sales amounted to 1.775 million units, with 780,000 NEV units.
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Aug 14, 2024 | 
fastmarkets.com | Charlotte Price
This comes even although some producers have welcomed the exemptions granted to imports of critical equipment, Fastmarkets’ review of public comments has found. A review of actions taken under the Section 301 “Investigation of China’s Acts, Policies and Practices Related to Technology Transfer, Intellectual Property, and Innovation” was published in May 2024. The review proposed that new tariff rates be imposed on a variety of raw materials and fabricated products.
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Aug 13, 2024 | 
fastmarkets.com | Charlotte Price
Every steel producer is looking at their production environment and identifying ways to improve their carbon footprint, Wright said, noting a focus from both integrated mills and mini-mills on incremental changes to production processes. BF mills, or integrated producers, such as Cleveland-Cliffs and US Steel utilize hydrogen to reduce emissions.
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Aug 12, 2024 | 
fastmarkets.com | Charlotte Price
Samsung SDI, SK On and LG Energy Solution all reported declining revenues from their battery sectors in their recent second-quarter reports, due to weaker metal prices and slowing international demand for EVs. Samsung SDI’s revenues from its battery sector was 3,872.9 billion Won ($2.84 billion) in the second quarter of 2024, down by 708.9 billion Won or 15.47% quarter on quarter from 4581.8 billion won, and down by 1,397.2 billion Won or 26.51%, year on year from 5,270.1 billion Won in the...
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Aug 12, 2024 | 
fastmarkets.com | Charlotte Price
The official cash price for tin on the London Metal Exchange fell by almost 12% in July, which was its steepest decline since August 2023 and made it the worst performer across the base metals complex. Fastmarkets analysts said that had led to sentiment toward tin turning negative, with hedge funds then piling in to acquire short positions.
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Aug 12, 2024 | 
fastmarkets.com | Charlotte Price
When, if ever, will US mills be able to take advantage of the global green steel push? Buyers are pushing back hard on the idea of paying more for the same steel they’ve always bought. The US hot-rolled coil market is already considerably higher than the equivalent markets in Europe and Asia. It’s also already considerably cleaner, as about 70% of the domestic industry is made up of electric arc furnace production, according to the American Iron and Steel Institute.
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Aug 12, 2024 | 
fastmarkets.com | Charlotte Price
Participants expect the automotive industry’s demand for the light metal to accelerate in the latter half of 2024, after demand arising from automotive production had been damped by certification issues and recalls earlier in the year. Three Toyota models that were suspended since June 3 are scheduled to resume production from the beginning of September with the Ministry of Land, Infrastructure, Transport and Tourism confirming their compliance with the standards.
