China still scorns ‘waste’ imports, but market sees shift

(This story appears here courtesy our content partner MySteel Global) China will comprehensively ban the import of all solid waste including metal scrap by 2021, as planned, and will no longer support systems to permit the import of such material, the Ministry of Ecology and Environment (MEE) reiterated this week. Nonetheless, the country’s steel scrap […]

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The world in a state of flux; IMF warns of “Clouds on the Horizon”

The International Monetary Fund (IMF) revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6 per cent contraction in 2020, and warning of “clouds on the horizon.” The latest projection is a downgrade to the forecast of zero growth in the April World Economic Outlook (WEO), indicating stronger global […]

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Global Wrap – German winter wheat area falls; steel demand hit by virus lockdown

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Globally, Germany’s winter wheat sown area for the 2020 harvest has been reduced by 7% on the year to about 2.84 million hectares. Farmers had turned to other crops such as rapeseed and other cash crops. Amid expectations for ample crop supplies and tepid global demand, the futures grain markets showed a high volatility during […]

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Chinese commodities traders bet on metals, oil as uncertainty rises

Investors are breaking trading records on China’s commodities exchanges looking towards metals and energy futures products such as stainless steel, tin and crude oil, as they hedge risks amid the global coronavirus outbreak or take speculative positions. Activity has soared over the past month, pushing open interest and trading volumes in the futures markets to […]

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Chinese Aluminum profits evaporate; low-cost firms resilient – Fitch

Low-cost Chinese aluminum producers with higher raw material self-sufficiency and access to cheaper power are more resilient against aluminium-price volatilities from the coronavirus impact, and can defend margins and cash flows more strongly amid the downturn, Fitch Ratings said. Domestic aluminum prices slumped in February and March from downstream demand shock as the coronavirus hit […]

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China’s growing domination of base metals continues: Reuters

A recent Reuters article suggests China’s domination of the base metals market was marching on relentlessly prior to the coronavirus outbreak. The headline, “China’s copper imports and aluminium consumption to drop again in 2020,” suggested otherwise, painting an initial image of a depressed market — but the reality is it is anything but. China’s imports […]

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