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Copper price hits eight-year high on U.S. stimulus hopes
Copper prices rose again on Tuesday as investors weigh the prospects for a stimulus package in the United States. The metal gained ground on hopes that economic stimulus in the U.S. will further boost demand, and supported by Chinese stocks at a 10-year low. House...
Short overview on Chinese steel
Rebar and wire rod prices could fall from Feb. 8 to Feb. 19, mainly due to weaker demand, as most construction workers who have returned to their home cities are likely to resume work only after Feb. 26, at the end of the Chinese New Year celebrations according to...
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...