Tozero will process this waste at its recycling plant in Munich, Germany, which started operations in April this year, to recover all critical raw materials required for the production of new batteries, such as lithium, cobalt, nickel and graphite.

“If we manage to properly recycle locally accumulated battery waste, we can easily contribute beyond 50% of Europe’s demand on lithium – the white gold – locally by 2040,” Sarah Fleischer, Tozero co-founder and chief executive officer, said.

The venture is the latest in a string of Asian battery companies investing in the European market. This week, South Korean companies SK Ecoplant, TES and Ecopro announced plans to build a battery recycling plant in Hungary.

And Huayou Cobalt, the parent company of Huayou Recycling, has allocated €1.5 billion ($1.64 billion) to establish its first European cathode active material (CAM) production facility in Hungary to serve European customers.

“Current market projections indicate a monumental twenty-fold increase in lithium-ion battery production by 2030 [in Europe], accompanied by a daunting 740% surge in battery waste from 2022 to 2030,” the Tozero announcement said.

“Anticipated global lithium shortages of 52% by 2030…necessitate the European battery industry to seek alternative local sources of critical raw materials to maintain production targets,” the announcement continued.

Tozero claimed that, by 2027, it would operate Europe’s largest battery recycling facility, with an annual capacity to recycle 90,000 tonnes of lithium-ion batteries, producing up to 6,000 tonnes of locally sourced lithium.

Fastmarkets’ assessment of the black mass, NCM/NCA, payable indicator, nickel, domestic, exw Europe, % payable LME nickel cash official price was 55-60% on November 22, unchanged week on week.

The corresponding assessment of the black mass, NCM/NCA payable indicator, cobalt, domestic, exw Europe, % payable Fastmarkets’ standard-grade cobalt price (low-end) was also 55-60% on the same day, also unchanged week on week.

Want more insights and forecasts for the battery recycling and black mass market?

Keep up to date with global market insights and predictions for the battery recycling market with the Fastmarkets NewGen Battery Recycling Outlook.

The post Huayou Recycling, Tozero announce European battery recycling partnership appeared first on Fastmarkets.

The index for MB-STE-0417 steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was originally published as $378.46 per tonne. It was corrected to $378.93 per tonne.

Fastmarkets’ pricing database has been updated to reflect these changes.

These prices are part of the Fastmarkets scrap package.

For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to these indices, please contact Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: Turkey steel scrap import indices.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Correction to Turkey steel scrap import indices appeared first on Fastmarkets.

The assessments in question and their proposed specifications are:

MB-STE-0884 steel scrap HMS 1&2 (80:20) containerized import, cfr Bangladesh, $/tonne
Quality: HMS 1&2 (80:20 mix) compliant to ISRI specifications 200-206
Quantity: Minimum 50 tonnes (in containers)
Location: cfr Chattogram
Timing: 3-9 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 4pm UK time

MB-STE-0881 steel scrap HMS 1&2 (80:20) deep-sea origin import, cfr Bangladesh, $/tonne
Quality: HMS 1&2 (80:20 mix) compliant to ISRI specifications 200 – 206.
Quantity: Minimum 20,000 tonnes (bulk)
Location: cfr Chittagong
Timing: Up to 3 months
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Thursday, 4pm UK time

MB-STE-0885 steel scrap shredded containerized import, cfr Bangladesh, $/tonne
Quality: Shredded scrap compliant to ISRI specifications 210-212
Quantity: Minimum 50 tonnes (in containers)
Location: cfr Chattogram
Timing: 3-9 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 4pm UK time

MB-STE-0886 steel scrap shredded deep-sea origin import, cfr Bangladesh, $/tonne
Quality: Shredded scrap compliant to ISRI specifications 210-212
Quantity: Minimum 2,000 tonnes (bulk)
Location: cfr Chattogram
Timing: 3-6 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Every Thursday, 4pm UK time

These prices are a part of the Fastmarkets scrap package.

The consultation period for this proposed amendment starts from Wednesday November 15 and will end on Wednesday December 13.

The amendment will then take place, subject to market feedback, on Thursday December 23.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: Bangladesh steel scrap.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Proposal to amend Bangladesh steel scrap import price publication times appeared first on Fastmarkets.

These prices are a part of the Fastmarkets scrap package.

For more information or to provide feedback on the delayed publication of this price or if you would like to provide price information by becoming a data submitter to these indices, please contact Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: delivered consumer UK aluminium scrap diecasting ingot.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all of Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/about-us/methodology.

The post Delayed publication of aluminium diecasting scrap/ingot UK appeared first on Fastmarkets.

The updated directive features guidelines for the collection of portable batteries (45% by 2023, 63% by 2027 and 73% by 2030) and also sets minimum levels of materials recovered from waste batteries, with the target for lithium set at 50% by 2027, rising to 80% in 2031. Targets for cobalt, copper, lead and nickel have all been set at 90% by 2027, rising to 95% by 2031.

But lack of processing capacity means that most black mass – shredded material from end-of-life batteries, including lithium, cobalt, nickel and copper – generated in Europe is currently exported to Asia. And while a raft of processing projects are expected to organically raise demand for black mass in Europe, the regulations will increase the pressure to keep most of its black mass within the trade bloc.

“Exports [of black mass from Europe] will finish by around 2025 [and] with the regulations coming in, I don’t see how Europe can afford to lose any of it,” said one black mass processor.

Another regulatory factor affecting black mass exports is the material’s classification as a product or as hazardous waste, with the latter requiring detailed permits for cross-border travel.

The classification of black mass is not currently consistent across EU countries or even across regions within certain counties. Once it is labelled as waste, however, permits are required to move the material and finding transport is more difficult in terms of crossing borders and seaborne exports. Hazardous waste permits must also specify that the final consumer is a recycler.

But market participants told Fastmarkets on the sidelines of the E-waste conference that it was widely expected that the EU will classify black mass as a hazardous waste product within the next two years. That would limit exports to members of the Organisation for Economic Co-operation and Development (OECD) – although that would still include South Korea, which is a key importer and processor of black mass.

“Currently it’s mess. It’s very complicated,” a black mass producer and trader told Fastmarkets. “[But] everyone expects the EU to bring in a blanket classification as waste [for black mass and] that would mean no more loopholes and you could only export to OECD countries. [And while that would include South] Korea and Japan, at least the situation would be clearer,” said another black mass producer and trader.

The EU’s battery manufacturing industry is expanding rapidly but relies on imports of virgin raw materials, according to the European Battery Alliance, with European battery capacity growing from less than 1 GWh in 2017 to 80 GWh by 2022 – with more than 1,000 GWh of announced capacity additions expected to be operational by 2030.

“We see a big gap on the supply side of materials, but also [in] recycling where we currently see a lot of the… black mass leaving the EU and being processed elsewhere – mainly in [South] Korea,” Ilka Von Dalwigk, policy manager at the European Battery Alliance, said at the Frankfurt conference.

Fastmarkets’ assessment of the black mass, NCM/NCA, payable indicator, cobalt, cif South Korea, % payable Fastmarkets’ standard-grade cobalt price (low-end) and the black mass, NCM/NCA, payable indicator, nickel, cif South Korea, % payable LME nickel cash official price were both 70-75% on Wednesday June 28, unchanged week on week.

Want more insights and forecasts for the battery recycling market?

Keep up to date with global market insights and predictions for the battery recycling market with the Fastmarkets NewGen Battery Recycling Outlook.

The post European battery regulations to restrict black mass exports to secure raw materials appeared first on Fastmarkets.

India is the world’s leading producer of DRI – which is produced either from coal- or natural gas-powered plants – and the country produced 39.04 million tonnes of the material in 2021, according to India’s Ministry of Steel.

Carbon dioxide (CO2) emissions from steelmaking using an electric-arc furnace (EAF) and natural gas-produced DRI are around 1.4 tonnes of CO2 per tonne of crude steel, while scrap-based EAF steel production has an emissions intensity of around 0.3 tonnes of CO2 per tonne of crude steel, due to the absence of emissions involved in the energy-intensive ironmaking step, according to the International Energy Agency (IEA) in 2020. Coal-based DRI steelmaking has even higher carbon emissions.

DRI eats into scrap use

But despite the strengthening scrap lobby, price is still very much king in India.

Recent declines in prices for DRI – known locally as sponge iron – have pushed more market participants to use this raw material over the lower-carbon ferrous scrap option. Lower coal and iron ore prices made the primary material cheaper and much more appealing to mills. Indian induction furnaces and foundries can generally use both scrap and DRI to produce steel.

“There is a regular conversation by the government [for mills] to use more scrap for lower carbon emissions, but ultimately everyone has to see what is the viable [economic] option,” a major Indian trader said on Friday June 9.

“As of now, sponge iron is much more viable than scrap, so more and more steel mills are increasing their sponge use and reducing scrap charge. That’s the reason Indian mills’ appetite for scrap is reduced, even though they don’t have much scrap in the pipeline,” he said.

Indian induction furnaces and foundries are now consuming around 50-70% DRI in their mix, depending on mill and location, with around 30-40% of scrap on average, according to the trader, which he said means that DRI consumption rose 25-30% recently.

“Scrap demand is always regulated by DRI prices. Currently, many mills in India are preferring DRI because of the lower cost,” a western India mill source said on Tuesday June 13. “There will always be a mix though — even DRI-based plants will have a limit of 70-90% [DRI in their total feedstock mix].”

“It’s quite obvious — when iron ore prices come down, then sponge becomes cheaper. Any plant which is using 20-30% of sponge will start using 40-50% sponge — this is quite common in India and has happened for years. But if iron ore prices go up, they start limiting sponge and start using scrap,” an eastern Indian steelmaker source said.

Scrap price comparison

Deals were heard for UK-origin shredded scrap in containers at $440 per tonne CFR Nhava Sheva on Tuesday, while other market estimates were heard at $430-440 per tonne CFR. Bulk Venezuela-origin HMS 1&2 scrap was offered at $422-425 per tonne CFR Kandla, western India late last week.

“Demand is there, regardless. No one is waiting for [international scrap] prices to drop anymore, so the Indian mills have come back,” a UK-based trader said.

“It’s normal that when import prices are high the mills buy material locally. I don’t think DRI is a threat to the scrap trade,” a second trader based in India said.

Fastmarkets’ calculation of the containerized steel scrap shredded, index, import, cfr Nhava Sheva, India was $438.04 per tonne on Tuesday, up by $5.89 per tonne from $432.15 per tonne on June 9.

Meanwhile, Fastmarkets’ weekly price assessment for direct reduced iron domestic, exw India was 29,300-29,500 rupees ($355-358) per tonne on June 9, up from 29,000-29,200 rupees per tonne a week earlier.

The premium for shredded scrap over the DRI was at $82 per tonne on Tuesday- the highest seen in any week since the week ended May 13, 2022, and dwarfing the 2022 full-year average premium of $53 per tonne.

While the price gap is significant, there are higher costs associated with using DRI as a feedstock for steelmaking compared with scrap, which makes scrap more appealing if the prices are roughly equal for the two competing materials.

“If the prices are equal, scrap is more economical. You have to add alloys [which are already present in scrap], but mostly it’s the cost of electricity consumption, flux generation; this is higher for DRI than for scrap,” the western India mill source said.

Future trends for Indian scrap

Despite the recent resurgence in DRI use, market sources do generally expect Indian steel scrap use to grow considerably in the coming years, in line with larger steel output in the country. The government aims to have 300 million tonnes of steel capacity by 2030, while the nation produced 124.70 million tonnes of crude steel in 2022, according to Worldsteel.

A third Indian trading source said he had heard that some foundries in the country were recently “nudged” to use more scrap by India’s Ministry of Steel, but the mill source said he was unaware of such requests.

If true, the second trader said that greater demand from foundries could have a large impact on scrap supply in the future.

“Pushing firms like foundries to use more scrap is a way to generate greater scrap demand and therefore spur more private sector investment in recycling centers, hubs, etc.,” he said.

Foundries in India, which tend to be much smaller units producing items such as castings, currently tend to take in around 200-500 tonnes of scrap per month, depending on size, he added.

A second western Indian steelmaker said he believed scrap demand in the country would be strongly boosted in the future and said he had recently seen greater interest in buying bulk scrap imports among large, traditionally blast furnace (BF)-based operators.

To keep up to date with the important topics impacting the global scrap industry, visit our dedicated scrap and secondary insights page. Learn more.

The post Cheap DRI hindering steel scrap use in India despite low-carbon push appeared first on Fastmarkets.

The proposal was published on May 15 and the consultation ended on Monday June 12, with no feedback received.

The scheduled publishing day for these prices will move to the first Friday of every month. The next publication will be on Friday July 7.

To provide feedback on this price assessment, or if you would like to provide price information by becoming a data submitter to this price, please contact Ross Yeo by email at: pricing@fastmarkets.com.

Please add the subject heading “FAO: Ross Yeo re: Europe stainless steel.”To see all of Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.

The post Amendment to frequency of Fastmarkets’ European domestic stainless steel prices appeared first on Fastmarkets.

The wide range reflected relatively low liquidity and a “case by case” approach in trading green steel products, sources said.

While this price range has been stable in recent weeks, it represents an increase at the low-end from the first quarter of the year, when some producers conceded they were sometimes unable to achieve any premium at all.

Green steel demand worth the premium

Demand for low-emission steels has been steadily increasing, particularly from the automotive industry. Previously, demand was largely exploratory, with consumers testing new suppliers and materials without necessarily being willing to pay a premium.

That has changed, however, and premiums for physical steel with CO2 emissions of no more than one tonne per tonne of steel (for Scopes 1, 2 & 3) were reported in the range €200-300 per tonne.

Most European steelmakers have announced significant investments in green steel projects to cut emissions and comply with strict EU regulations. These projects largely consist of hydrogen-based direct-iron reduction and electric-arc furnaces (EAF), while in the shorter-term scrap-based flat steel production has increased.

Under the European Green Deal, the European Commission proposed a new EU target to reduce greenhouse gas emissions by at least 55% by 2030, compared with the levels emitted in 1990.

Under the EU emissions trading system (ETS), industrial companies will have their emission allowances phased out from 2026, meaning substantial costs will be incurred by materials produced with emissions.

“By 2030, 30% of the European steel market will be green [zero or close to zero],” a mill source said.

During the week to June 8, two trading sources reported premiums for EAF-produced flat green steel of Spanish and German origin at €200-250 per tonne.

A producer source reported a premium of €300 per tonne for EAF-produced flat-steel.

A trading sources estimated European flat green steel premium at €150-200 per tonne during the assessment week.

“In general, €200-300 per tonne is the standard premium for CO2 reduced steel produced via EAF route,” a trader in Northern Europe said.

Sources said they expect demand for green steel from end users to continue growing in the coming years

Consumers willing to pay a premium to go ‘green’

The major green steel consumer is currently automotive industry, sources said. However, market participants pointed out, that demand for green steel from the construction industry “was also coming soon via legislation.”

Fastmarkets’ green steel, domestic flat-rolled differential, ex works Northern Europe will be assessed weekly against the established Fastmarkets Northern European hot-rolled coil (HRC) index.

Stay up to date with key developments in green steel pricing and read the latest stories driving the discussion by visiting our dedicated green steel content hub. Learn more.

The post Green premium for flat steel stable in first European assessment appeared first on Fastmarkets.

A daily inferred Green Steel base price will be calculated based on the daily Fastmarkets HRC index and the Green Steel differential to provide real-time transparency.

The price specifications are as follows:

MB-STE-0904: Green Steel domestic, flat-rolled, differential to HRC index, exw northern Europe, € per tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 1 tonne CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Weekly

MB-STE-0905: Green Steel base price, HRC exw northern Europe, daily inferred, € per tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 1 tonne CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Daily
Notes: This price is calculated by adding the weekly Green Steel differential (MB-STE-0904) to the daily Northern Europe HRC index (MB-STE-0028).

The Green Steel prices will capture the differential between traditional flat-rolled steel prices and prices for steel produced with low emissions (including Scope 1, 2 & 3) of maximum 1 tonne CO2 per tonne of steel.

All production methods and raw materials will be considered, including scrap-based production and steel made using hydrogen-reduced iron.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Julia Bolotova by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Julia Bolotova re: European Green Steel.”

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

The post Launch of European domestic Green Steel prices appeared first on Fastmarkets.

This consultation sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

You can find the current methodology for the Taiwan steel scrap price assessment here.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Final decision on open consultation on methodology for Taiwan steel scrap price assessment appeared first on Fastmarkets.