Materials and commodities
- Nickel | A US Hedge Fund, Elliott Management, is to sue the London Metal Exchange over its decision to suspend and cancel trades in nickel in March as the metal reached unprecedented heights over a short squeeze.
- Copper prices fell, weighed down by a strong dollar and growing concerns over a slowdown in the global recovery. The metal has dropped 13% since its record peak in March.
- Pallets have been identified as a major source of construction waste, and Pallet Loop has proposed a deposit scheme to encourage reuse. Currently, 18 million pallets are manufactured for construction every year, with only 10% being reused.
- British Steel is running a six-month study at its Teeside Beam Mill into the use of green hydrogen to help decarbonise steel production, using funding from the government’s Net Zero Innovation Portfolio.
- Construction materials | The latest data from BEIS shows an annual increase in the cost of basic construction materials of nearly 21% (April-April)