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Nickel demand for electric vehicles expected to soar
According to a new report, released by the Joint Research Centre, nickel demand from the EV sector is expected to grow globally by 2.6Mt Ni through 2040, from only 92kt Ni in 2020, and by 543kt Ni from 17kt Ni in 2020 in the European Union. According to the paper,...
Turkey’s ferrous scrap import increased by 18% year-on-year
Turkey, the world's largest importer of ferrous scrap, witnessed a gradual increase in scrap imports that continued in December 2020. Scrap imports in 2020 stood at 22.18 million tons, up 18% year-on-year. The United States remained the largest supplier of scrap to...
Commodity Insight – Zinc
Possible new short-term drops for zinc. Area 2650 $/ton turns out to be a strong resistance area. First short-term targets are identified in the area 2560$. Analyzing the data of the Cot report published by the Lme shows a strong liquidation of buying positions by...
Chinese steel stocks rise further ahead of holiday season
Finished steel inventories in China's commercial warehouses rose further for the sixth week as the Chinese New Year holiday approaches. The pace of stockpiling rose to 18.2 per cent in the period from 29 January to 4 February. Inventories of rebar, wire rod,...