A block on the World Trade Organization’s dispute settlement process has paralyzed progress in steel cases, including those pertaining to Section 232, which could result in a disparity between steel prices in the United States and those in the rest of the world, according to two trade experts.
Iron ore prices unexpectedly surged on February 11, having fallen by around 10% in recent weeks as a result of the novel coronavirus outbreak in China.
BNP Paribas will take on the over-the-counter base and precious metal clients of fellow French bank Société Générale, which is reducing its commodities exposure, both companies confirmed to Fastmarkets on February 11.
The Greek government tabled a plan to restructure and subsequently sell the majority state-owned multi-metal company Larco, one of Europe’s largest ferro-nickel producers, on Monday February 10 amid ongoing failure to pay back debts or tackle environmental issues.
Transport restrictions in China are affecting raw material supply amid the coronavirus outbreak and have led to a more active molybdenum spot market in China, which has lifted prices in South Korea and Europe.