Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
China has increased its purchase of scrap copper as smelters look alternative raw materials to offset tight supplies of mined ore. The world’s largest refined copper producer took in nearly 1 million tonnes (MT) of scrap in 2024’s first five months, putting imports on pace for the strongest year since 2018.
Using more scrap is one way for smelters to churn out record volumes of the metal even amid an unprecedented pinch in the ore market. Across markets, waste metal that’s recouped from the likes of factory waste, demolished buildings and unwanted cars is an important alternative to supply from mines. Scrap is highly price sensitive, typically entering the market as merchants cash in on high prices.
Copper futures reached a record above $11,000 a tonne last month. Still, there are already signs of moderating scrap demand. China’s imports for May eased 12% to 198,349 tonnes from April, which had the highest monthly total since 2018, according to customs figures.
Also Read : China's first quarter coal imports surge, defying gloomy forecasts Chinese money still chasing Canadian critical mining deals despite Ottawa's scrutiny
The Geological Survey of India (GSI) is preparing to boost India's offshore mineral exploration, wit...
Announcement 16-Feb-2024
JSL Q4 net profit rises 18% to ₹645 crore Revenue up 5% at ₹9,250 crore Export demand and value-ad...
Business 09-May-2025
Wipro, a leading Indian IT firm, has expanded its partnership with Intel Foundry to accelerate chip...
Mid Corporate 22-Feb-2024
Maharastra's Gadchiroli will produce 30% of the country's total steel production in the next coming...
Business 18-Jul-2024
According to a stock exchange declaration Adani Enterprises' subsidiary Kutch Copper mentioned that...
Large Corporate 28-Mar-2024
Longer disruptions at the crucial Red Sea trade route may hurt manufacturing lines of some sectors l...
Business 28-Jan-2024