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Latest news and market analysis

Despite mixed signals on box demand, significant capacity reductions and rising costs are enabling US containerboard producers to push for a second major price increase this year.

The US company EVelution Energy outlined its plans to produce 3,000 tonnes per year of cobalt metal in the United States from Congolese hydroxide, speaking with Fastmarkets on Wednesday May 13 on the sidelines of the Cobalt Congress that took place in Madrid, Spain (May 12-13).

Europe’s green steel ambitions were built on affordable hydrogen that hasn’t materialised. Thyssenkrupp and Salzgitter delays, scaled-back supply targets, and a shift to dual-fuel DRI configurations now define the transition.

CPO futures on the Bursa Malaysia Derivatives (BMD) rebounded on Friday May 15, supported by bargain covering activities, firmer crude oil prices and a weaker ringgit, although gains were capped by weaker export demand and softer rival vegetable oils. On the Chicago Mercantile Exchange (CME), soyoil futures traded lower on Friday, after data showed a decline in US soybean crush.

Corn futures extended losses on the Chicago Mercantile Exchange on Friday May 15, as the highly anticipated meeting between US and China leaders did not result in gains for American farmers as expected.

Policy developments in Washington and Beijing over the week ended Friday May 15 are beginning to shift expectations for global biofuel feedstock flows, with potential downstream implications for US used cooking oil (UCO) and animal fats markets.

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