The Tariff Mirage: Why Steel Prices Are Higher than They Should Be
U.S. steel prices remain elevated because tariff uncertainty adds a risk premium that outpaces weak demand and softening industrial indicators. Reduced imports have pushed buyers toward higher‑cost domestic mills, providing short‑term price support despite limited capacity. Ongoing legal challenges to the tariffs and a pending USMCA renegotiation introduce further volatility. Future pricing will hinge on manufacturing performance, monetary policy shifts, and the outcome of trade‑law disputes.
Energy Storage to Emerge as Demand Driver for Lithium: Liontown CEO
Liontown Resources CEO Tony Ottaviano says large‑scale stationary energy storage is emerging as a second engine for lithium demand, reducing reliance on electric vehicles alone. Fastmarkets forecasts global storage installations will grow ~25% annually, reaching about 800 GWh by 2030 and...
Fastmarkets to Launch Three New China Copper Scrap Grades, Increase Frequency
Fastmarkets will shift its CIF China copper scrap price publication from a monthly to a weekly schedule and add three new grades—millberry, cobra and clove—under the GB 38471‑2023 standard. Existing No 1 and No 2 grades retain their definitions, with minimum contract sizes...
Market Continues to Digest Koko’s Collapse, Kenyan CORSIA Supply Implications
Koko Networks’ Kenyan operations entered insolvency after the government refused a Letter of Approval needed for CORSIA Phase 1 eligibility, halting the project’s credit pipeline. Spot prices for eligible CORSIA credits slipped from a peak of $23.10 to $15.90 per tonne...
China Signals ETS Expansion as Compliance Rules Prepare Steel, Cement Sectors
China’s 2024 work report confirmed plans to broaden its national emissions trading system beyond power to heavy‑industry sectors such as steel, cement and aluminium. New compliance rules now require these firms to report and verify emissions, laying the groundwork for...
Middle East Conflict Might Create Supply Constraints, Raise in Aluminium Premiums in Mexico
The ongoing conflict in the Middle East has disrupted the Strait of Hormuz, choking the primary aluminium supply chain that relies on Gulf Cooperation Council (GCC) smelters. Force‑majeure notices from Qatalum and Aluminium of Bahrain have driven premiums higher, with...
Auto a Key Market to Drive Steel Decarbonization: SteelWatch
Automakers are accelerating the shift to low‑emissions steel, with 13 of 18 major carmakers now implementing decarbonisation measures. The sector’s willingness to pay a 20‑30% premium per tonne for hydrogen‑based direct‑reduced‑iron (DRI) steel is creating early demand that could unlock...
ICAO Invites Applicants for TAB 2026 Assessment Cycle and Stricter LOA Requirements to Affect CORSIA Phase 2 Supply
ICAO’s Technical Advisory Body (TAB) has opened applications for its 2026 assessment cycle, introducing substantially stricter host‑party attestation (Letter of Authorization) requirements and tighter integrity criteria. The TAB will no longer consider first‑phase programs for new eligibility, though successful 2026...
ETS Prices Defy Rise in Gas Prices as Middle East Conflict Continues
European carbon allowances (EUAs) stayed flat around €70 despite a sharp 40‑70% rise in Dutch TTF gas futures triggered by the Middle‑East conflict. Gas prices jumped from €31 to over €45 in early March, normally prompting coal‑fuel switching and higher...
World’s Top Bauxite Producer Considers Export Curbs After Supply Glut Leads to Price Slump
Guinea, now the world’s largest bauxite producer, is weighing export curbs as a glut has driven prices down roughly 50% since January 2025. Export shipments surged 25% to 183 million tonnes last year, far exceeding licence‑based production plans. The government is...
Teck, Korea Zinc Agree Benchmark Zinc Concentrate TCs at $85 per Tonne
Teck and Korea Zinc have set the benchmark zinc concentrate treatment charge (TC) at $85 per tonne, a $5 increase from the previous level. The agreement introduces a payable for germanium and revises the silver payable, though sources disagree on...
Diesel Rally Drives US Animal Fats and Oils to Multi-Month Highs
A diesel and heating‑oil rally has lifted US animal‑fat and oil feedstock prices to multi‑month highs, with the Gulf hub seeing used cooking oil near 68 cents per pound and tallow and distiller’s corn oil hitting eight‑month and three‑year peaks. The...
Lundin, BHP’s Vicuña Project Targets 395,000 Tpy of Copper Concentrate From Argentina
Lundin Mining and BHP’s 50‑50 Vicuña joint venture in the Argentina‑Chile border region plans to produce an average of 395,000 tonnes of copper concentrate per year, alongside 711,000 ounces of gold and 22.2 million ounces of silver. The three‑stage development requires...
Fastmarkets to Change Frequency of US Delivered Tin Price
Fastmarkets announced it will change the publication frequency of its US delivered tin price assessment (MB‑SN‑0011) from monthly to quarterly, beginning with the April 7, 2026 assessment. The shift follows internal reviews and market consultations that highlighted low spot liquidity...
China Searches for a Way Out of Brazil’s Steel Barriers
Chinese steel exporters are confronting steep anti‑dumping duties in Brazil, ranging from $285 to $710 per tonne, which could render Chinese imports unviable for up to five years. The duties target pre‑painted, cold‑rolled, and coated steel, prompting Chinese firms to...
Iran Conflict Disrupts Agricultural Commodity Flows; South American Soymeal Washouts Reported
The Iran‑Israel‑US conflict has forced the cancellation of several South American soymeal and soybean cargoes destined for Iran, prompting exporters to consider washouts or rerouting. Soymeal premiums are under pressure as freight rates spike, especially on Atlantic routes, while Brazil’s...
Brazilian BEK Buyers Brace for Price Hikes Amid Early Impacts of Middle East Crisis
Brazilian bleached eucalyptus kraft (BEK) pulp prices rose 8% year‑on‑year in dollar terms, though a stronger real softened the net effect. February contracts ranged $700‑1,130 per tonne, while the March local‑currency price is set around 4,030 Reais, down 5.1% YoY but...
Fastmarkets to Discontinue Two European SAF Cost-Based Assessments Reflecting Dutch HBE-IXB Credits
Fastmarkets announced it will discontinue two European sustainable aviation fuel (SAF) cost assessments—AG‑SAF‑0006 (SAF max) and AG‑SAF‑0007 (HVO max)—that previously incorporated Dutch HBE‑IXB credits. The change follows the Netherlands’ update to its biofuel mandate, which now excludes aviation from the...
Proposal to Launch Two Graphite Flake Exw China Prices: Pricing Notice
Fastmarkets has announced a proposal to introduce two new ex‑works China graphite flake price indices – 94% carbon, -100 mesh and 94% carbon, +80 mesh. The indices will be published weekly on Thursdays at 7 pm Shanghai time, with a minimum...
Publication of Fastmarkets’ Steel Scrap No1 Busheling, Delivered Mill Chicago Assessment on Thursday March 5, 2026
Fastmarkets published its March 5 2026 steel scrap No 1 busheling delivered‑mill price assessment for Chicago. The assessment is part of the Fastmarkets scrap package and follows the firm’s North America ferrous scrap methodology. The release includes a link to detailed specifications and...
Fastmarkets Proposes to Change Frequency of Brazil Domestic Steel Prices
Fastmarkets has proposed shifting its Brazilian domestic steel price assessments from a monthly to a bi‑weekly schedule, publishing on the second and fourth Fridays each month. The change responds to recent anti‑dumping actions, higher import tariffs, and market participants’ demand...
Open Consultation on Methodology for Saudi Arabia Domestic Rebar Price Assessment
Fastmarkets has opened an open consultation to review its domestic rebar price methodology for Saudi Arabia, identified as MB‑STE‑0909, with submissions accepted until April 6, 2026. The review aims to ensure the price reflects the physical market and complies with IOSCO principles...
US Invites Proposals to Boost Supply of Tungsten and 12 Other Critical Minerals
The Defense Industrial Base Consortium (DIBC) announced that the U.S. military is inviting proposals to develop domestic production of 13 critical minerals, including tungsten, arsenic and nickel, with submissions due March 20, 2026. The request covers the entire value chain—from...
Open Consultation on Fastmarkets’ Ferrous Methodology
Fastmarkets has launched an open consultation on its ferrous metals pricing methodology, running from March 5 to April 2. The review seeks to ensure the methodology reflects physical market conditions and complies with IOSCO principles for price reporting agencies. Participants are asked...
Fastmarkets Proposes to Change Mexico Non-Ferrous Scrap Units
Fastmarkets announced it will convert its Mexico non‑ferrous scrap price assessments from peso per pound to peso per kilogram. The change aligns the pricing units with the kilogram‑based invoicing and contract norms used by most suppliers, processors and buyers in...
Delayed Publication of China (Brazil), China (US Gulf), Brazil, Argentina and US Soybean Crush Margins
Fastmarkets announced a delayed release of its latest soybean crush margin data for key markets, including China (Brazil and US Gulf), Brazil, Argentina, and the United States. The reported M1 margins show a positive 30.50 yuan/mt for China‑Brazil soy, a...
Delayed Publication of US Sustainable Aviation Fuel Prices for March 3
Fastmarkets announced a delay in publishing the United States sustainable aviation fuel (SAF) price data for March 3. The postponed release covers three benchmarks: base cost ex‑works in Houston, delivered price in Los Angeles, and delivered price in Chicago. These prices...
Correction to Steel Hot-Rolled Coil Index Domestic, Exw Italy
Fastmarkets issued a correction for its domestic ex‑works Italy hot‑rolled coil (HRC) index, adjusting the price from €682.50 to €676.25 per tonne. The error stemmed from a reporter mistake and has been rectified in the pricing database. The revised figure...
Fastmarkets Changes the Timing of Its Ilmenite Cif China and Rutile Fob Australia Assessments
Fastmarkets announced that, effective March 5, its price assessments for ilmenite concentrate (cif China) and two rutile grades (fob Australia) will shift from a fortnightly to a monthly cadence. The change follows market feedback indicating that prices have been moving slowly...
Fastmarkets Clarifies Publishing Schedule for Iran Steel Billet, Slab Export Prices
Fastmarkets announced that it will not publish weekly export prices for Iran’s steel billet and slab during the seven‑day public holiday declared after Supreme Leader Ali Khamenei’s death. The delay follows the firm’s policy of suspending price releases when a...
Strait of Hormuz Tensions Lift Freight Rates for Aluminium, Bauxite, Zinc, Lead and Lithium; Limited Fallout in China
Escalating tensions in the Strait of Hormuz have sharply lifted crude oil prices and triggered a surge in freight rates for key non‑ferrous commodities. Major carriers such as MSC, Maersk and Hapag‑Lloyd have suspended Middle East bookings and imposed War...
Correction to Bleachable Fancy Tallow – Packer Chicago Prices and Fat Index, Fob US on February 27
Fastmarkets issued a correction for its February 27 pricing data, raising the Bleachable Fancy Tallow – Packer Chicago price from 57 to 58 cents per pound. The weekly tallow average was adjusted to 57.20 cents and the monthly average to 55.63 cents. The Fat...
Delayed Publication of Fastmarkets’ Stainless Steel Cold-Rolled Sheet, 2mm, Grade 316, Transaction Domestic, Delivered North Europe Averages
Fastmarkets announced that while the scheduled price publications for 2 mm grade 316 stainless‑steel cold‑rolled sheet in North Europe proceeded as planned, the associated average price data were delayed. The pricing database has now been updated to reflect the corrected averages. The...
New Space-Based Photovoltaics Industry Growth Driven by Commercial Aerospace, AI Power
Space‑based photovoltaics are poised for rapid expansion as commercial aerospace launches and AI‑driven data centers create new demand. Triple‑junction GaAs cells dominate today, but their reliance on scarce gallium, germanium and indium drives costs sky‑high. Industry leaders, especially in China,...
Policy Backing Fuels Europe’s Next Wave of Low-Emission Steel Capacity
European policy tools such as the TRQ, CBAM and the draft Industrial Accelerator Act are reviving investment in low‑emission steel, exemplified by ArcelorMittal’s €1.3 billion Dunkirk electric‑arc‑furnace slated for 2029. While earlier green‑hydrogen DRI projects have been delayed or scaled back,...
Amendment to Publication Timestamp of Crude Palm Oil Mill Effluent, Fob Malaysia and Refined Palm Oil Mill Effluent, Fob Indonesia:...
Fastmarkets announced that the publication timestamp for its palm oil mill effluent (POME) price assessments will shift to a weekly Thursday release at 6:00 pm Singapore time. The amendment applies to both crude POME FOB Malaysia (AG-PLM-0035) and refined POME FOB...
Ex-China Lithium Hydroxide Production Ramp-Ups Face Delays on Weaker Demand
Wesfarmers reported that its Covalent Lithium joint‑venture refinery in Kwinana is producing high‑quality lithium hydroxide, but the commercial ramp‑up has been delayed by intermittent odor issues. The plant’s gradual scale‑up mirrors broader challenges at ex‑China hydroxide assets, including Albemarle’s Kemerton...
Ukrainian Steel, Agricultural Sectors in the Fight for Market Share Despite Non-Stop War
Ukraine’s agriculture and steel sectors remain economic pillars despite war‑driven disruptions, contributing roughly 7‑8% and 5.7‑7.2% of GDP respectively. Grain exports have fallen to their lowest level since the invasion, while sunflower crushing is 9% below last year and 26%...
Delayed Publication of Iron Ore Value-In-Use Indices
Fastmarkets released five iron‑ore Value‑In‑Use (VIU) indices on February 26, a day later than scheduled. The indices include 61% Fe and 65% Fe fines, as well as fines measured for silicon, alumina and phosphorus, all quoted cfr Qingdao in dollars per dry...
Delayed Publication of Spodumene Min 6% Li2O, Contract Price, Cif China
Fastmarkets announced that the contract price for spodumene min 6% Li2O CIF China was published 2 hours 36 minutes later than scheduled. The price is part of Fastmarkets' industrial minerals package and serves as a benchmark for global lithium‑ion supply...
Fastmarkets Proposes to Amend NCM/NCA Black Mass Methodology Specifications
Fastmarkets announced a consultation to revise its black‑mass pricing methodology after China lifted its import ban and imposed stricter metal‑content rules. The new specifications require nickel‑cobalt‑manganese (NCM) black mass to contain 20‑25% nickel, 3‑10% cobalt and 3‑4.5% lithium, with total...
Proposal to Launch Antimony Trioxide 99.5% Sb2O3 Min, Exw China Price Assessment: Pricing Notice
Fastmarkets announced a proposal to launch a new ex‑works China price for antimony trioxide (99.5% Sb2O3 min). The price, quoted in yuan per tonne, will be published weekly and targets a minimum 10‑tonne spot transaction. The consultation period runs from...
Copper’s New Fundamental: How Fear Is Shaping the Market
The Fast Forward podcast revealed that fear has become a standalone market fundamental for copper, outweighing traditional supply‑demand metrics. Deglobalization is prompting nations to build strategic stockpiles such as the U.S. Project Vault and forcing firms to adopt just‑in‑case inventory...
Indonesia Restricts Crude Palm Oil Exports Waste
Indonesia confirmed that the ban on exporting crude palm‑oil mill effluent (POME) and used cooking oil (UCO) will remain in place, prioritising domestic energy security and its emerging aviation‑fuel sector. President Prabowo framed palm‑based residues as strategic feedstocks for a...
Correction to European Steel Plate Import Prices on February 19
Fastmarkets announced corrections to its European steel plate import price assessments after discovering currency conversion errors. The Northern Europe 8‑40 mm plate range (MB‑STE‑0049) is now €609‑650 per tonne, down from the mistakenly reported €720. The Southern Europe range (MB‑STE‑0050) is...
Correction to Bauxite, CIF China Price on February 20
Fastmarkets announced that the bauxite CIF China price assessment published on February 20 was invalidated due to a procedural error. The pricing database has been corrected, and the next release will occur on February 27, following the Chinese holiday calendar....
Delayed Publication of Taiwan Steel Scrap
Fastmarkets announced a delayed release of the MB-STE-0464 price for HMS 1&2 steel scrap (80:20 mix) imported to Taiwan. The price reflects US material imports, CFR main port Taiwan, and is part of Fastmarkets' scrap package. The notice invites market participants...
Canada Not a ‘Dumping Ground or Transshipment Hub;’ Section 232 Tariffs Unjustified: CSPA
The Canadian Steel Producers Association (CSPA) argues that the U.S. Section 232 steel tariffs are unjustified, noting Canada is not a dumping ground or transshipment hub. Since the tariffs took effect, Canada has lost roughly 2 million metric tons of steel...
Fastmarkets Proposes to Discontinue Two Category 3 Animal Fat Ddp NWE Assessments
Fastmarkets announced a proposal to discontinue two Category 3 animal‑fat price assessments – AG‑TLW‑0028 (high‑grade bone fat) and AG‑TLW‑0029 (pure beef tallow) – for DDP Northwest Europe. The move is attributed to insufficient market liquidity for these contracts. A public consultation...
Indian Veg Oil Buyers Await Clarity on US Trade Deal
Indian vegetable‑oil importers are waiting for concrete details on the pending U.S.–India trade pact that could lower tariffs on U.S. soybean oil. The framework hints at a 0‑15% duty cut and a tariff‑rate quota of roughly 200,000‑250,000 tonnes, but exact...