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Federal review says copper-nickel mining poses an environmental risk to BWCA

June 24, 2022

The U.S. Forest Service has released a long-awaited environmental study of a proposed 20-year copper mining moratorium on federal land near the Boundary Waters Canoe Area. It is the latest step in a bid by the Biden administration to place a long-term pause on proposed copper-nickel mines across a large swath of northeastern Minnesota.

Copper heads for worst weekly loss in a year, nickel and tin plunge

Copper prices were on Friday set for their biggest weekly fall in a year, down around 6.5%, as investors worried that efforts by central banks to stem inflation will stifle global economic growth and reduce demand for metals.

Another recession warning: Falling copper prices

Some investors look to copper prices as a bellwether for the global economy. If you're one of them, you have good reason to be

Steel Price rebounds from yearly low as risk-aversion ebbs, recession fears favor bears

Steel Price licks wounds at six-month low after falling nearly 500 yuan per metric tonne during the week.Lack of major data/events, softer USD allowed bears to take a breather. Fears of recession, doubts about production cuts and China’s covid conditions provide a trifecta attack on prices.

China’s steel mill owners are in a bad mood as demand takes a hit

Steel inventories are slowly piling up in the warehouses of the country’s biggest steelmaking hub, the northeastern city of Tangshan, as well as in the provinces of Jiangsu and Shandong, mill owners told Wu, a senior consultant at Wood Mackenzie.

Scrap metal rules expected in coming weeks

Changes to regulations on how scrap metal can be bought and sold are expected in the coming weeks, according to Manitoba’s justice minister.

Sonoco Announced Updated Guidance for Q2 2022 Earnings

The company expects second quarter net income to be in a range of $1.27 to $1.37 per diluted share.

Switch from BOF to EAF Steelmaking is Happening at a Slow Pace

Under current circumstances, the ratio of BOF to EAF steelmaking technology is likely to shift from 69:31 in 2022 to 68:32 in 2030.

22nd June, 2022: Chinese Scrap Metal Prices Dropped on Index

#1 Insulated Copper Wire 85% Recovery prices have declined by CNY 500 per MT upon comparison with the previous day.

Century Aluminum Decides to Idle Kentucky Smelter

Most of the around 600 workers at the smelter have received notice under the WARN Act that they will be temporarily laid off.

Tata Steel-thyssenkrupp Steel Joint Venture Hit Roadblock

In its judgement, the Court rejected all arguments raised by the companies and upheld the Commission’s decision.

Scrap Metal Prices

Copper Scrap		VIEW ALL
Alternator	0.42	0
#1 Copper Bare Bright	4.62	-0.05
Aluminum Scrap		VIEW ALL
6063 Extrusions	1.19	-0.03
6063 Extrusions/Fe	0.95	-0.02
Steel Scrap		VIEW ALL
#1 Bundle	680.00	0
#1 Busheling	700.00	0
Electronics Scrap		VIEW ALL
Cellular Phones	4.25	0
CPU Processors	20.00	0

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