The leading nickel contract, SHFE.NI2503, increased by nearly 3.4%. Similarly, the spot market price for nickel in China also saw an increase of over 1.5%.
Nickel alloys have long been the cornerstone of industries requiring materials that can withstand extreme environments, offering exceptional corrosion resistance and high-temperature strength.
Copper saw a significant increase of over 1% in London trading. This upward trend was echoed across other metals like zinc, nickel, aluminum, and lead.
In the first ten months of 2024, Poland significantly increased its imports of rolled steel products from non-EU (third) countries by 26.3% year-on-year (y/y), reaching a total of 1.869 million tons.
China's steel exports are on track to surpass the 2015 record of 110 million tons in 2024, potentially reaching over 111 million tons—a year-on-year increase of 23%.
The question of how EU steel makers have truly earned their revenue in recent years is more relevant than ever, especially against the backdrop of declining crude steel production in the EU and the sharp rise in CO2 certificate prices.
Outokumpu, a leading global producer of sustainable stainless steel, has unveiled plans for a €40 million investment in a new bio-carbon plant in Sassnitz, Germany.
The Carbon Border Adjustment Mechanism (CBAM), introduced by the European Union in October 2023, has spurred a variety of reactions from countries worldwide.