Mercedes-Benz has secured a second agreement with a major US steel producer to obtain more sustainable steel, aiming to achieve decarbonization by 2039. Colombian steelmakers are urging their government to raise import duties to limit wire rod imports from China, similar to actions taken by Mexico and Brazil. Constellium is exploring hydrogen as an alternative energy source in its casthouses. Norsk Hydro's Alunorte refinery is advancing in sustainability efforts to cut carbon emissions. Fastmarkets has made corrections to its alumina indices and US base metals prices due to earlier publication errors related to daylight saving time adjustments.

Fastmarkets corrected its alumina indices for Australia and Brazil due to a previous publication error. The US daylight saving time change led to early publication of US base metals prices. Nippon Steel's proposed acquisition of US Steel faces opposition from President Joe Biden. Global steel demand decline pressures raw material prices, with expectations of this trend continuing into 2024. The US steel industry supports new legislation to address the increase in Mexican steel imports, with bipartisan efforts urging the Biden Administration to take action.

GreenRoc has received support from the European Raw Materials Alliance (ERMA) for the development and financing of its Amitsoq graphite project. The project, which has a significant graphite resource, is seen as crucial for the EU's electrical vehicle supply chain independence. ERMA, co-founded by the EU and managed by EIT RawMaterials, has evaluated the project positively. The demand for graphite, particularly for active anode material, is growing in Europe, despite current subdued market conditions. Other companies associated with ERMA include NextSource Materials, Syrah Resources, and Volt Resources. Additionally, ERMA previously supported Greenland Resources for the Malmbjerg molybdenum project, which could meet a substantial portion of Europe's molybdenum needs.

Fastmarkets issued corrections for the consumer buying prices of stainless steel scrap 430 and 409 bundles, delivered mill Pittsburgh, which were previously published incorrectly on January 10. The corrected prices reflect a downward trend in the consumer market, aligned with lower ferrous scrap prices. A 30-day consultation period has been initiated to adjust these values to be more representative of actual transaction values, with results to be published on February 11.

Fastmarkets is updating its price assessments for lithium hydroxide and carbonate in Europe/US and launching new assessments for the US and Canada. The company reported on the impact of inflation on mining company profits and corrected previously published steel plate assessments. Opportunities for the Chinese ferro-alloys industry and the development of a green steel supply chain in Malaysia were also discussed.

Fastmarkets is adjusting its price assessments for lithium hydroxide and carbonate in Europe and the US, and launching new weekly assessments for North America. The company also reported on the impact of inflation on mining profits, corrected steel plate assessments, and discussed opportunities for China's ferro-alloys industry and the rise of the green steel supply chain in Malaysia.

The low-carbon differential for aluminium P1020 in Europe remained unchanged due to decreased interest in low-carbon units. Cobalt standard grade prices were stable amid poor demand following price increases in February. The bullish tin price forecast for the first quarter of 2024 was supported by a quarterly tin round-up. The Rosh Pinah zinc mine in Namibia, managed by Appian Capital Advisory, is set to complete its expansion by July 2026. Spot lithium carbonate and hydroxide battery grade prices in the seaborne Asia market were stable, with market quietness attributed to a public holiday in China. China's manufacturing sector is increasingly driving steel demand, favoring flat steel products over long steel ones.