Russian Copper Company (RCC) and Chinese firms have avoided taxes and skirted the impact of Western sanctions by trading in new copper wire rod disguised as scrap, three sources familiar with the matter told Reuters. Copper wire rod was shredded in the remote Xinjiang Uyghur region by an intermediary to make it hard to distinguish …
Russia, China trade new copper disguised as scrap to skirt taxes, sanctions Read More »
Currently, the global copper market is characterized by several key trends and factors influencing both demand and supply dynamics, alongside fluctuating prices. Let’s read some interesting market trends, prices and factors influencing the demand and supply of copper globally. Demand for copper remains robust, primarily propelled by burgeoning infrastructure projects worldwide and the accelerating transition …
Ship-breaking melting scrap prices in Alang, Gujarat, held steady for the third consecutive day on 12 Apr 24. According to BigMint’s assessment, HMS (80:20) prices remained at INR 34,700/ t ($416/t) ex-yard. Semi-finished steel prices remained almost steady in yesterday’s trading session in the region, and moderate trade activities in scrap prompted suppliers to keep …
India: Melting scrap prices remain stable for third consecutive day in Alang Read More »
By Steve Goldstein Analysts say gold can reach $3,000 an ounce Copper was thought to be headed toward a supply crisis as the world adopts electric vehicles and other greenification measures. And now that crisis is here, say Bank of America metals strategists led by Michael Widmer. “The much-discussed lack of mine projects is becoming …
Bank of America says the copper supply crisis is here Read More »
Ship-breaking melting scrap prices in Alang, Gujarat, remained unchanged d-o-d on 10 Apr’24. According to assessment, HMS (80:20) prices were at INR 34,700/t ($417/t) ex-yard. Semi-finished steel prices held steady in the region during yesterday’s trading session, and moderate buying inquiries for scrap at current price levels encouraged scrap suppliers to maintain firm offers today
Chinese prices of ferrous scrap may come under further downward pressure in April, as the demand for scrap among domestic steelmakers is likely to stay lukewarm, Mysteel’s latest survey suggests. Last month, the country’s steel scrap prices experienced a steep fall, in parallel with the prices of almost all ferrous commodities, Mysteel Global noted, since …
MYSTEEL: Weak demand to weigh on China ferrous scrap prices Read More »
Citi forecasts a surge in copper prices to $12,000 per tonne within two years, citing positive demand-supply dynamics for its top metal choice. Copper prices have reached unprecedented levels, with all-time highs recorded in China, an 11-month high on London Metal Exchange (LME), and a 16-month high in the US.
The company shipped 1.44 million tons of raw materials to third countries and 6.36 million tons within the EU. In 2023, German scrap companies reduced their scrap exports by 1.5% compared to 2022, to 7.8 million tons. In 2022, exports decreased by 9.9% after growing by 1.9% in 2021. This is according to GMK Center’s …
Germany exported 7.8 million tons of scrap in 2023 Read More »
An official factory survey on Sunday revealed that China’s manufacturing activity had expanded for the first time in six months in March. The world’s largest producer and consumer of copper saw its most-traded May copper contract on the Shanghai Futures Exchange closing day-time trade 1.1% higher at 73,100 yuan ($10,110.79) per metric tonne.
Bill Gates and Amazon-backed startup, Electra, marks a groundbreaking moment with the unveiling of the world’s inaugural green steel production plant in Colorado, USA. The innovative facility, powered entirely by renewable energy, pioneers a revolutionary approach to steel manufacturing, aiming to significantly reduce the environmental footprint associated with traditional methods. At the core of Electra’s …
Bill Gates & Amazon backed world’s first green steel plant starts operation Read More »
