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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Metals, crude prices recovering on gradual unlocking of global economy

Metals and crude oil prices rose on the expectation of a recovery in demand following the gradual re-opening global economy and stronger manufacturing data from China, the world’s largest consumer. The price of copper for delivery in three months jumped 0.7 per cent to trade at $5,415 a tonne on the benchmark London Metal Exchange (LME) on increased demand from […]

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Trade tariffs take centerstage as world tries to emerge from COVID-19 crisis

The week’s biggest news was China’s Ministry of Commerce announcement that it will extend anti-dumping duties on imports of alloy-steel seamless pipes for high temperature and pressure from the United States and the European Union for another five years. Following an expiry review launched at the request of the domestic industry, the extension has taken […]

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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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Another bad week for commodities as Coronavirus continues to batter economies

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Fitch Ratings warned of a deep global recession in 2020, saying the speed with which the coronavirus pandemic is evolving has necessitated another round of huge cuts to its GDP forecasts. Last week, the International Monetary Fund Managing Director Kristalina Georgieva said that the global economy had entered recession, and this week the US Federal […]

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