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Aluminum: metal supply affected by industrial closures

Aluminum: metal supply affected by industrial closures

Things may look better in China than they are, at least as far as the country's metals and minerals markets are concerned. However, China still remains the top destination for European steel and aluminum supplies. Europe's energy-sensitive factories and aluminum...

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Metals: can Europe save the industrial sector?

Metals: can Europe save the industrial sector?

A massive and rapid deployment of renewable energy is crucial for Europe to end its dependence on Russian fossil fuels. According to the European Commission, solar energy will be "the linchpin of this effort." The only problem is that the global solar supply chain is...

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Aluminum: price falls on strong dollar and demand outlook

Aluminum: price falls on strong dollar and demand outlook

Aluminum prices fell today to 17-month lows and most other metals lost ground as faltering global economic growth weakened the demand outlook and strengthened the dollar. The dollar has strengthened in 2022 more than in any year since 1981 and reached a 20-year high...

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Aluminum: prices on standby, weighed by weak demand

Aluminum: prices on standby, weighed by weak demand

Shanghai aluminum prices rose Thursday, buoyed by depleted inventories and rising energy costs, but prospects for weakening demand limited gains. Norsk Hydro NHY.OL said Wednesday it will close an aluminum production plant in Slovakia by the end of September,...

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HRC steel: price drop in northern Europe with consumption uncertain in September

HRC steel: price drop in northern Europe with consumption uncertain in September

Market participants confirmed trading at lower prices in the North European hot-rolled coil market on August 9 amid growing uncertainty over September consumption. Northwest European HRC was down at 796 euros/mt, down 1.30 percent from 806.50 euros/mt the previous...

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Steel: global production down 5.5 percent year-on-year

Steel: global production down 5.5 percent year-on-year

According to World Steel Association data released July 22, global crude steel production stood at 949.5 million tons in the first half of 2022, down 5.5 percent year-on-year. Total June production hit a four-month low of 158.1 million tons, down 5.9 percent from a...

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Iron ore: price falls as China’s demand outlook weakens

Iron ore: price falls as China’s demand outlook weakens

Iron ore futures in Dalian and Singapore fell on Thursday as investors refocused on the gloomy outlook for Chinese demand after the government's rhetoric on economic stimulus faded. Concerns remained over the COVID-19 blocks in China, the world's top steel producer,...

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Aluminium: Chinese production grows by 3.2% y-o-y in June

Aluminium: Chinese production grows by 3.2% y-o-y in June

China's primary aluminium production increased by 3.2% to 3.39 million tonnes in June from a year earlier, thanks to higher global prices. June production fell slightly by 0.9% from the previous month, when it reached a record 3.42 million tonnes. Aluminium prices...

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HRC steel: prices remain stable pending supplies

HRC steel: prices remain stable pending supplies

Hot-rolled coil prices in Northwest Europe stood at 825 euro/ton on 13 July, up slightly (+0.24%) from the previous day's reading (823 euro/ton), as market activity remained low and stocks are expected to be replenished by the end of July. The expected replenishment...

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Batteries: Umicore plans $1.2 billion factory in Ontario

Batteries: Umicore plans $1.2 billion factory in Ontario

Belgium-based Umicore plans to invest $1.2 billion to build a battery materials manufacturing plant in the Canadian province of Ontario, which would supply components to one million electric vehicles by 2030. The Canadian government and Umicore have signed a...

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Crude steel: China’s daily production falls in July

Crude steel: China’s daily production falls in July

China's daily crude steel production from 1 to 10 July fell 0.8 percent from the end of June to 2.872 million mt per day, but output was still 2.6 percent higher than a year earlier, according to data from the China Iron & Steel Association on 13 July. The...

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Car sales in China up 24% year-on-year

Car sales in China up 24% year-on-year

In June, car sales and production in China increased year-on-year by 23.8 per cent and 28.2 per cent respectively, according to the latest data released by the China Association of Automobile Manufacturers (CAAM) on 11 July. Compared to May, total vehicle sales grew...

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Political changes increase the risk for Latin American miners

Political changes increase the risk for Latin American miners

Increasing demand for participation in natural resource revenues, stricter environmental protection regulations and legislative changes are increasing risks for mining and energy companies across Latin America, even in countries once considered safe investment...

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Lithium: Albemarle plans major processing plant in the US

Lithium: Albemarle plans major processing plant in the US

Albemarle Corp plans to build a lithium processing plant in the US that would produce as much metal for electric vehicle batteries as the entire company produces today, a bet on America's all-electric future. The plan reflects Albemarle's emerging strategy to lead the...

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Steel: crude production in May fell by 3.5 % y/y

Steel: crude production in May fell by 3.5 % y/y

World crude steel production for the 64 countries belonging to the World Steel Association was 169.5 million tonnes (Mt) in May 2022, down 3.5% from May 2021. Crude steel production by region: Africa produced 1.1 Mt in May 2022, down 18.9% from May 2021; Asia and...

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Aluminium: global production shifts back to China

Aluminium: global production shifts back to China

China produced a record 3.42 million tonnes of primary aluminium in May, as the country's smelters continue to increase production rates. According to the International Aluminium Institute (IAI), the country's annual production increased by 3.66 million tonnes in the...

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Guinea gives Simandou iron mine operators a 14-day deadline

Guinea gives Simandou iron mine operators a 14-day deadline

Acting President Mamady Doumbouya said partners in Guinea's Simandou iron ore mine have 14 days to finalise a joint venture. Guinea has become increasingly impatient with the companies that control the giant Simandou deposit, which has not been developed since Rio...

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Coal: Australian prices fall in June

Coal: Australian prices fall in June

Newcastle thermal coal prices are expected to remain low in the second half of June and into July, as discounts offered for coal of other origins continue to lure Asian buyers away from Australian coal. Asian buyers, who stayed away from Australian coal after prices...

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Shanghai fully reopens to trade

Shanghai fully reopens to trade

Shanghai, China's largest city, reopened for business on June 1 after a two-month COVID-19 freeze, with most construction sites resuming operations and steel warehouses reopening for cargo pickup. However, demand for rebar in the city may take some time to fully...

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Steel: global production down in April

Steel: global production down in April

Global crude steel production was 162.7 million tons in April, down 5.1 percent from April 2021, according to World Steel Association data released May 24. Production from January to April was 619.1 million tons, down 7.1 percent from the previous year's levels....

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Lithium: Tianqi produces Australia’s first battery hydroxide

Lithium: Tianqi produces Australia’s first battery hydroxide

Tianqi Lithium Energy Australia announced Wednesday the first production of battery lithium from its Kwinana plant in Western Australia, marking the first time that battery lithium, or lithium hydroxide monohydrate (LHM), has been produced in Australia in commercial...

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Shanghai will be leaving the lockdown on June 1, 2022

Shanghai will be leaving the lockdown on June 1, 2022

With the official announcement of Shanghai's exit from the bloc, China is providing a major economic stimulus that is likely to affect not only domestic but also global demand. Chinese officials have confirmed that Shanghai, with a population of more than 25 million,...

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Steel: Zaporizhstal targets Polish demand

Steel: Zaporizhstal targets Polish demand

Ukraine's Zaporizhstal steel mill, partly owned by Metinvest, has started production of a new type of hot-rolled coils for Polish customers. According to Ukrainian media reports, Polish customers have ordered HRCs weighing at least 9 tons each. Previously, to fulfill...

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Iron ore: price hits nearly 2-month low

Iron ore: price hits nearly 2-month low

Chinese iron ore futures fell as much as 7 percent Tuesday, touching their lowest in nearly two months, fueled by fears of higher interest rates and still stagnant domestic demand. The U.S. Federal Reserve approved a half-point increase in interest rates last week and...

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Steel: demand for coils in Italy remains stagnant

Steel: demand for coils in Italy remains stagnant

Italian sales of cold rolled and hot dip galvanized coils continue to be particularly sluggish, with customers buying little material and expecting prices to continue to fall this week, in line with international coil prices. While HDG demand has been reported to be...

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Tin: Chinese production increases in April

Tin: Chinese production increases in April

Chinese production of refined tin from major smelters rose 14.4% in April compared with the previous month, as most companies resumed the production process. Twenty smelters, accounting for 97% of China's total capacity, produced 15,464 tons of refined tin last month,...

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The United Kingdom sanctions the Russian steel plant Evraz

The United Kingdom sanctions the Russian steel plant Evraz

The British government has imposed sanctions on Russian mining and steel company Evraz because of its operations in sectors of strategic importance to the government of Russia. In a May 5 British government statement, Evraz's main operations are in Russia and it...

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Hot rolled coils: prices still down due to weak demand

Hot rolled coils: prices still down due to weak demand

Domestic prices for hot-rolled coils declined in Northern Europe due to limited purchasing activity. Northern European HRCs were assessed to be down €10 at €1265/mt ex-works Ruhr. Although there were few official offers at 1300-1330 euros/ton ex-works Ruhr, these were...

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Steel: new supplies expected on the market

Steel: new supplies expected on the market

ArcelorMittal has announced that it will invest €300 million in the construction of a new steel unit at its Mardyck site in northern France. The plant , which will come on stream in 2024, will have an annual production capacity of up to 200,000 tons of high-strength...

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Copper: the protest continues in the mine of Las Bambas

Copper: the protest continues in the mine of Las Bambas

MMG is still facing prolonged disruption at its copper mine in Peru after failing to clear the site of all protesters in an operation that further inflamed tensions with indigenous groups. Security personnel from the Hong Kong-listed company worked with police this...

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Steel: China accelerates the pace of EAF capacity development

Steel: China accelerates the pace of EAF capacity development

China has accelerated the pace of steel capacity development based on electric arc furnaces in 2022 to mark the growing efforts of the steel industry, which is steadily aligning with the country's high decarbonisation targets. The country has approved the construction...

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Hot-rolled coils: European prices fall due to oversupply

Hot-rolled coils: European prices fall due to oversupply

Hot-rolled coil prices in Europe have fallen and market players are increasingly convinced that the market is set to decline significantly. While several mills have offered coils at €1,300/mt exw, some offers have been as low as €1,280/mt exw. Despite this, most...

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Steel: EU suspends trade barriers on Ukraine

Steel: EU suspends trade barriers on Ukraine

The European Commission proposed on Wednesday the suspension of all trade barriers against steel imports from Ukraine for a period of one year, to support the country during its ongoing war with Russia. The proposal needs to be ratified by the European Parliament, but...

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Steel: expected declines in EU hot rolled coils

Steel: expected declines in EU hot rolled coils

The expectations are for a downward trend in prices for hot rolled coil as demand has remained subdued due to the holiday period. Some market sources report a quiet market with subdued demand and most traders preferred to wait and see if prices would correct from...

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Steel: global production down 6.8% year-on-year

Steel: global production down 6.8% year-on-year

Global crude steel production fell 5.8% year-on-year in March to 161 million tonnes, bringing total production for the first quarter of 2022 to 456.6 million tonnes, down 6.8% from the same period in 2021.However, global production in March was 13% higher than...

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Palm oil: Indonesian and Malaysian exports soar

Palm oil: Indonesian and Malaysian exports soar

Higher demand for palm oil could lift Indonesian and Malaysian exports and bring down stocks, supporting prices, which have already risen 38% in 2022, as the war in Ukraine disrupted supplies of sunflower oil. Palm oil has become profitable for refiners because it is...

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Aluminium: strong rise in Chinese exports

Aluminium: strong rise in Chinese exports

Chinese exports of "Unwrought aluminium and aluminium products" rose sharply in March 2022. Exports amounted to 594,361 tons, approaching the highs recorded in January this year. The increase on a monthly basis was +41.18% while on a yearly basis the growth was +34%....

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Lithium: Mexico nationalises mining

Lithium: Mexico nationalises mining

Mexico has officially nationalised its lithium industry after the Senate approved with 87 votes in favour, 20 against and 16 abstentions the mining reform proposed by President Andrés Manuel López Obrador, which gives the state exclusive rights to the battery metal....

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Steel: impact of China’s production reduction policy

Steel: impact of China’s production reduction policy

On 19 April 2022, the National Development and Reform Commission said it will continue to reduce crude steel production across the country to ensure that crude steel production does not increase year on year. According to statistics from the National Bureau of...

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Tata Steel closes business ties with Russia

Tata Steel closes business ties with Russia

Tata Steel has decided to stop doing business with Russia amid the military invasion of Ukraine, becoming the first global steel company to cut ties with Russia. Tata Steel has no operations or employees in Russia. The company has made a conscious decision to stop...

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Rare earth: Thyssenkrupp signs MoU with Ucore Rare Metals

Rare earth: Thyssenkrupp signs MoU with Ucore Rare Metals

Global commodities and materials trader Thyssenkrupp Materials Trading has signed a memorandum of understanding to purchase rare earth carbonate from Ucore Rare Metals, a Canada-based developer of rare earth processing projects. Thyssenkrupp Materials Trading, a...

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US contractors reject Biden’s ‘Buy America’ guidelines

US contractors reject Biden’s ‘Buy America’ guidelines

US construction contractors from the Associated General Contractors (AGC) of America are criticising President Joe Biden's guidelines requiring the use of domestic steel for federal infrastructure projects. According to the AGC, the tightening of the Buy America...

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Steel: Mariupol plants suffer further damage

Steel: Mariupol plants suffer further damage

Metinvest's steel plants in Mariupol have suffered further damage as a result of fighting between Ukrainian and Russian military forces. On Friday, Russian Defense Ministry representative Igor Konashenkov said that Moscow forces and units of the self-proclaimed...

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Steel: China’s steel demand slows in April

Steel: China’s steel demand slows in April

Steel demand in China is expected to continue to decline in April as deteriorating property sales weigh on domestic steel markets. The liquidity crisis facing property developers could extend into much of 2022, undermining Chinese steel demand for this year. China's...

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Steel: demand to rise by only 0.4% in 2022 and 2.2% in 2023

Steel: demand to rise by only 0.4% in 2022 and 2.2% in 2023

The Short Range Outlook, published on 14 April by the World Steel Association, forecasts that steel demand will rise by 0.4% in 2022 to 1.84 billion tonnes and grow by a further 2.2% in 2023 to 1.88 billion tonnes. Steel demand rose 2.7% in 2021 to 1.83 billion as...

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Ferrous scrap: prices rise quickly across Europe

Ferrous scrap: prices rise quickly across Europe

Ferrous scrap prices rose very quickly across Europe in April, as domestic mills raised prices to match the export market. The Russian invasion of Ukraine and the resulting shortage of supplies of key raw materials for steel from the Black Sea region caused prices of...

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Steel: use of EU safeguard quotas confirms slowdown in imports

Steel: use of EU safeguard quotas confirms slowdown in imports

EU imports of steel products subject to safeguard measures slowed down in the first days of the second quarter. During the first eight days of April, when the new safeguard quotas became available for the quarter, EU customs cleared about 2.4 million tonnes of steel....

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Aluminium: world production falls by 7.24% in February

Aluminium: world production falls by 7.24% in February

In February 2022, according to data from the International Aluminium Institute and processed by the Commodity Evolution research office, world production of primary aluminium fell by 7.24% compared to January 2022. On a year-on-year basis (between February 2022 and...

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Steel: Shanghai freeze upsets market

Steel: Shanghai freeze upsets market

Shanghai, China's most internationalised city and the largest steel trading hub in eastern China, has been under a strict lockdown since 28 March to combat the worst outbreak of COVID-19 ever seen in terms of the number of infections. The citywide blockade has nearly...

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Steel: Europe-Asia spreads widen on war-driven supply concerns

Steel: Europe-Asia spreads widen on war-driven supply concerns

The Russia-Ukraine war and the economic sanctions imposed on Russia by the European Union (EU) and G7 allies, including the US, have not only altered trade patterns and the supply/demand balance, but have also created a wide gap between steel prices in the Western...

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Steel: Asian scrap prices expected to remain stable in Q2

Steel: Asian scrap prices expected to remain stable in Q2

Prices of hot-rolled coil, rebar and ferrous scrap in Asia are expected to remain stable in the second quarter, following a surge in the first quarter, as supply chains gradually recover and markets continue to assess the impact of Russia's invasion of Ukraine....

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Steel: Ukraine’s Zaporizhstal restarts production

Steel: Ukraine’s Zaporizhstal restarts production

Ukrainian mining and steel company Metinvest reported today that it is partially resuming operations at its Zaporizhstal steel plant, the group's JV where it holds a 49.99% stake, and aims to reach 150,000 tonnes of production next month. The Zaporizhstal coil...

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Coal: EU total ban on Russian product to take effect mid-August

Coal: EU total ban on Russian product to take effect mid-August

The European Union on Thursday approved a ban on Russian coal that will take full effect from mid-August, a month later than initially proposed, following pressure from Germany to delay the measure. The phasing out of EU imports of Russian coal is the key measure in a...

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Copper and nickel: elements for a greener future

Copper and nickel: elements for a greener future

Both nickel and copper possess properties that give them a central role in the drive towards a greener future. While demand will continue to grow steadily, electric vehicles (EVs) and energy storage applications will support a huge increase in long-term demand. While...

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Ferrous scrap: the Italian market is still waiting

Ferrous scrap: the Italian market is still waiting

The Italian scrap market remains in the doldrums this week, with few or no sales and mills rejecting offers from dealers at higher prices. The trend in other European countries seems to be for a 40-50 €/tonne ($43-54/tonne) month-on-month increase, due to strong...

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Steel: prices in China could rise to new highs in April

Steel: prices in China could rise to new highs in April

In April, prices of most Chinese steel products could reach new highs for this year. Central government policies to stimulate economic growth should start to take effect, domestic steel demand should recover from the COVID-19 disruptions, and demand for Chinese steel...

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Copper: ready for a medium/long-term rally

Copper: ready for a medium/long-term rally

Before the Russian invasion of Ukraine on 24 February, global equities were already facing their first critical event as inflation began to accelerate. This risk continues, as inflation recently reached 40-year highs in the wake of a global pandemic, government...

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Steel: Turkish exports rise up 20%.

Steel: Turkish exports rise up 20%.

Turkey's steel exports have increased by 20% to a record 19.9 million tonnes in 2021, with higher prices meaning revenue will rise by 93% to $16.5 billion in 2021. Turkey's total finished steel consumption increased by 13% to 33.4 million tonnes in 2021. Steel...

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Steel: an unprecedented increase also for the Egyptian market

Steel: an unprecedented increase also for the Egyptian market

Three of Egypt's largest steel producers have announced that they have raised prices by up to 17%, or around LE 3,000 per tonne (EUR 150/mt), in what would appear to be the largest steel price increase in Egypt's history. Ezz Steel, Egyptian Steel and Suez Steel...

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Copper: $100bn investment needed to meet demand

Copper: $100bn investment needed to meet demand

The global copper industry needs to spend more than $100 billion to build mines capable of closing what could be an annual supply gap of 4.7 million tonnes by 2030. The supply gap for the next decade is estimated at six million tonnes a year as the clean energy and...

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Zinc: high prices with European smelters at risk of production

Zinc: high prices with European smelters at risk of production

Zinc on the London Metal Exchange recorded a new all-time high of $4,861 per tonne earlier this month, eclipsing the previous 2006 peak of $4,580 per tonne. The March 8 peak was surpassed within hours and looked very much like the forced closure of positions to cover...

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Copper: how the Russian threat affects international trade

Copper: how the Russian threat affects international trade

Copper prices have remained quite amid the chaos that has engulfed the London Metal Exchange (LME) this month. The London copper market was briefly shaken by the collapse in margins that triggered the 8 March suspension of the LME nickel market, with a short-lived...

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Steel: Russian steel producers agree to move away from LME peg

Steel: Russian steel producers agree to move away from LME peg

The Russian Ministry of Industry and Trade and steel producers have agreed to move away from pegging domestic prices to the London Metal Exchange (LME) and calculate them in roubles. The use of the rouble component in the calculation of domestic prices will also be...

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Heart of metals’ confidence falters for London Metal Exchange

Heart of metals’ confidence falters for London Metal Exchange

The first squeeze that plunged the London Metal Exchange into an existential crisis occurred more than a century ago. In 1887, French industrialist Pierre Secretan cornered the copper market, causing prices to double first before taking profits, causing the market to...

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Zinc: supply problems push price to 15-year highs

Zinc: supply problems push price to 15-year highs

Zinc prices surpassed $4,000 per tonne, reaching a 15-year high last week ($4,861/mt on 8 March 2022), as rising energy costs and supply concerns boosted the metal's market. Zinc production requires the smelting of zinc ore, which is energy intensive. As a result,...

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Nickel: price chaos continues on Lme

Nickel: price chaos continues on Lme

The London Metal Exchange temporarily froze electronic trading in nickel after restarting from a week-long suspension, as a glitch allowed prices to fall beyond a new daily limit (5%) that was supposed to help restore order after last week's historic short squeeze....

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Carmakers face soaring metal costs

Carmakers face soaring metal costs

Russia's invasion of Ukraine is raising the price of metals used in cars, from aluminum in bodywork to palladium in catalytic converters to high-grade nickel in electric vehicle batteries, and drivers are likely to foot the bill. While metals have not yet been the...

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Titanium: Boeing suspends purchase from Russia

Titanium: Boeing suspends purchase from Russia

Boeing Co reported Monday that it has suspended its purchase of titanium from Russia, a move that could have implications for the aircraft manufacturer's relationship with its largest supplier of the raw material, VSMPO-Avisma. According to the manufacturer, "our...

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Honduras cancels environmental permits for mines

Honduras cancels environmental permits for mines

In a brief statement, the government reported that environmental permits for metal mining in Honduras will be cancelled, describing the industry as harmful and stating that it will specifically prohibit open-pit mining. The statement from the Ministry of Energy,...

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Aluminium: world production down in January

Aluminium: world production down in January

After December 2021's highs at 5.622 mln tons, January 2022 triggered a decline in global aluminum production to 5.513 mln tons. The cumulative January to December 2021 stood at 67.28 mln tons compared to 65.327 mln tons in the same period last year (+2.98%). WORLD...

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Copper: possible new roadblock for Las Bambas mine

Copper: possible new roadblock for Las Bambas mine

The Coporaque district community reported Sunday that it will resume its roadblock against MMG's Las Bambas mine, although a second community has agreed to a 45-day truce. Las Bambas, which produces 2% of the world's copper supply, said it will have to suspend...

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Copper: MMG set to halt operations at Las Bambas mine

Copper: MMG set to halt operations at Las Bambas mine

MMG reported Monday that it will have to halt production at its Las Bambas copper mine in Peru until February 20, following a new and ongoing blockade of the road used by the company, which has already forced the Chinese miner to curtail operations. Residents of...

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Ferrous scrap: Turkish imports increase by 10% in 2021

Ferrous scrap: Turkish imports increase by 10% in 2021

Turkey, the world's top buyer of ferrous scrap, recorded imports of this material of 24.37 million tons (mnt) in 2021 (Jan-Dec 2021), up 10% from 22.16 mnt in 2020. On a monthly basis, Turkish ferrous scrap imports increased by 22% to 2.49 mnt in Dec 2021 compared to...

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Rare earth: Kalgoorlie gets ministerial approval

Rare earth: Kalgoorlie gets ministerial approval

Preliminary implementation of Lynas Rare Earths' Kalgoorlie processing plant has been approved after a ministerial declaration was issued under the Environment Protection Act 1986 (WA). The declaration outlines conditions for the construction and operation of the rare...

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Aluminium: Chinese imports collapse while exports recover

Aluminium: Chinese imports collapse while exports recover

In the last survey month (December 2021), China's imports of "Unwrought aluminium and aluminium products" plummeted by 38.75% compared to the previous month (November 2021) while compared to the same period last year, the figure showed a drop of 8.22%. In the previous...

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Aluminium: world production hits the highest level since 2011

Aluminium: world production hits the highest level since 2011

After several months in which world aluminum production remained substantially stable, in the last month of survey (December 2021) there was a new increase on a quantity produced basis (ton). An analysis of the data on a monthly basis shows a positive change in all...

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Copper: price drops ahead of Fed meeting

Copper: price drops ahead of Fed meeting

Copper prices fell on Monday under pressure from risk-off sentiment in global markets. Asian equities also fell as investors prepared for a Federal Reserve meeting at which it is expected to confirm the start of a massive liquidity drain that has supercharged growth...

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Potash: US sanctions may push Belarus into Putin’s arms

Potash: US sanctions may push Belarus into Putin’s arms

U.S. sanctions against the Belarusian potash industry, which have helped push fertilizer prices to record levels, could push President Alexander Lukashenko further into the arms of Russia. While Lukashenko has not yet asked Russia for support, the Kremlin expects the...

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Aluminum: there are no more barriers for a +4.50% ascent

Aluminum: there are no more barriers for a +4.50% ascent

Looking at aluminum prices, there seems to be no more obstacles for a rise of +4.50%, between current prices and the highs recorded on 18/10/2021 at $ 3,228.50/mt. A price extension of at least +4.50% from current prices of $3091/mt to the $3,228.50/mt area is then...

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China’s economy will face more uncertainty in Q1 2022

China’s economy will face more uncertainty in Q1 2022

According to the National Development and Reform Commission (NDRC), in the first quarter of 2022, China's economy will face more uncertainties, and as countermeasures, the Chinese government will advance the implementation of some policies, the progress of some...

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Non-ferrous metals: session in strong recovery

Non-ferrous metals: session in strong recovery

Today's session shows an excellent performance for non-ferrous metals, with nickel showing a daily growth of +3.69%, followed by tin +1.84%, copper +1.61%, lead +1.34%, zinc +1.08% and aluminum at +0.80%. Stay updated with Commodity Evolution to follow in detail and...

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Zinc: Fitch forecasts a price retracement

Zinc: Fitch forecasts a price retracement

Prices averaged $2995/ton in 2021 and closed the year around $3428/ton, a slight retracement from the high of $3944/ton reached in October 2021. Fitch's price forecast for 2022 implies that the company expects prices to stabilize and weaken from here on in the coming...

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Aluminum: energy fuels price spike to record levels in Europe

Aluminum: energy fuels price spike to record levels in Europe

Aluminum costs for European consumers are reaching record levels as soaring energy costs and production cuts have exacerbated deficits in the metal used in the energy, construction and packaging industries (as described in this article on January 4, 2022. Consumers...

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BHP invests $50 million to advance nickel project in Tanzania

BHP invests $50 million to advance nickel project in Tanzania

BHP will invest $40 million in Kabanga Nickel, which is developing the nickel project, and $10 million in Lifezone Ltd, whose ore refining technology is considered more cost-effective and environmentally friendly. The investment in U.K.-based Kabanga will give it an...

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Aluminum: production cuts boost further rises

Aluminum: production cuts boost further rises

The various production cuts made before by the largest European smelter Aluminium Dunkerque Industries France (read the article here), by Hydro in its plant in Slovakia (read the article here), by Alro (read the article here) by Alcoa that will stop a Spanish plant...

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Aluminum: the Romanian Alro cuts production

Aluminum: the Romanian Alro cuts production

Romanian aluminum producer Alro reported that it will cut primary aluminum production due to rising energy prices .Primary aluminum production activity will be reduced from five electrolysis rooms to two rooms. The company will resume its full production operations...

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Copper: Zijin starts production in the giant mine in Tibet

Copper: Zijin starts production in the giant mine in Tibet

Zijin Mining reported the start of production at its Qulong copper mine in Tibet, one of the largest in China, a major metal consumer, adding a new source of supply to the market for the coming year. Zijin, a copper and gold producer that is acquiring...

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Commodities: China returns to importing on all fronts

Commodities: China returns to importing on all fronts

In November 2021, China's import data show a marked uptick across all major industries. In detail: Steel or iron products - Exports of "steel and iron products" in November stood at 4.36 mln tons, down 3.11% on a monthly basis and down 0.91% on an annual basis. On the...

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Nickel-lithium-cobalt: Chinese Tsingshan large-scale producer

Nickel-lithium-cobalt: Chinese Tsingshan large-scale producer

Tsingshan Holding Group, the Chinese company that shook up the nickel world by rapidly increasing production in Indonesia, is predominantly a stainless steel producer, coming out of nowhere to become the world's top nickel producer in 2018 thanks to its pioneering use...

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Copper: update – break up of the trigger line at 9750 $/ton

Copper: update – break up of the trigger line at 9750 $/ton

As written in the previous article (read here) copper prices have completed the double minimum and at the moment are in the process of breaking the trigger line at $9,750/ton. The current movement may extend the rebound in the short term towards the next targets...

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Nickel and zinc: U.S. adds them to critical minerals list

Nickel and zinc: U.S. adds them to critical minerals list

Nickel and zinc are now considered critical minerals by the United States. The U.S. Geological Survey (USGS) is proposing that both metals be included on the critical minerals list. The list has grown from 35 to 50 since the last iteration in 2018. Four minerals,...

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Nickel: a new generation technology for extraction

Nickel: a new generation technology for extraction

UK-based Altilium Group and PT Indo Mineral Research, a member of Sebuku Group (one of Indonesia's largest mining groups) have signed an agreement to commit financial, technical and logistical resources to accelerate the adoption of the DNi process in Indonesia....

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Tin: best annual performance of non-ferrous metals

Tin: best annual performance of non-ferrous metals

Tin remains the superstar on the London Metal Exchange of industrial metals. At $37,350 per tonne, the LME's three-month tin is up 77% since the start of the year, far outperforming aluminium, which is the second best performer with a gain of "only" 26%. LME stocks...

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Iron ore: Australian exports down

Iron ore: Australian exports down

Australia has seen a decline in exports of goods and services for September due to low iron ore prices, according to the Australian Bureau of Statistics. Australia has seen a decline in exports of goods and services for September due to low iron ore prices, according...

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Rare earth: China’s exports hit seven-month highs

Rare earth: China’s exports hit seven-month highs

China's exports of rare earths rose 10% in October from the previous month, reaching the highest level since March, according to data from the General Administration of Customs. Exports from the group of 17 minerals from the world's largest rare earth producer stood...

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Palm oil: Malaysia’s stocks rise as exports plummet

Palm oil: Malaysia’s stocks rise as exports plummet

Malaysia's palm oil stocks rebounded at the end of October due to a slump in exports amid falling production. Palm oil stocks of the world's second largest producer are set to rise 3.4 percent to 1.81 million tonnes. Production is seen falling 0.98% to 1.69 million...

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Aluminium: prices down 20% in a two-week

Aluminium: prices down 20% in a two-week

The aluminium price has been weakened by falling coal prices in China, following efforts by regulators to curb excessive speculation and profiteering from what remains a tight domestic thermal coal market. If coal prices continue to fall, aluminium prices should, at...

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Iron ore: Vale SA profits below estimates

Iron ore: Vale SA profits below estimates

Brazilian miner Vale SA on Thursday reported third-quarter net profit of $3.9 billion, significantly below analysts' forecasts of $6.2 billion, due to lower iron ore prices and a write-down of its coal business. While Vale's net profit fell by almost half from the...

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Coal: China sets price in bid to ease energy crisis

Coal: China sets price in bid to ease energy crisis

China's state planner has set an immediate price target for thermal coal in its most direct intervention yet to cool the market for the key power generation fuel amid a severe energy crisis. The price target was revealed during meetings on Tuesday and Wednesday...

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Copper: Antofagasta appeals US plan to block Twin Metals mine

Copper: Antofagasta appeals US plan to block Twin Metals mine

Antofagasta Plc reported Wednesday that it would ask US officials to reconsider a proposed 20-year ban on mining in Minnesota's Boundary Waters region, a plan announced last week that would block its Twin Metals copper and nickel project. According to Julie Padilla,...

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Aluminium: world production September 2021

Aluminium: world production September 2021

Power outages in China ---------> production supply in crisis Let's take a look at primary aluminium production worldwide (last survey September 2021). Data from the International Aluminium Institute. Month-on-month % change: Africa: -3.65% China: -3.52%. Western...

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Rare earth: plans approved for Yangibana plant in Hastings

Rare earth: plans approved for Yangibana plant in Hastings

Hastings Technology Metals has received environmental approval from the Department of Agriculture, Water and Environment (DAWE) for a hydrometallurgical plant in the Gascoyne region of Western Australia. The Onslow rare earth plant will be constructed in the Ashburton...

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Magnesium: EU in talks with China to avert catastrophic crisis

Magnesium: EU in talks with China to avert catastrophic crisis

European leaders, concerned about the effect a global magnesium shortage will have on the European Union's industrial recovery from the pandemic, have opened talks with China, which supplies the bloc with about 95% of the silver-white metal used to make aluminium....

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Copper: Zijin opens Serbia’s largest mine

Copper: Zijin opens Serbia’s largest mine

Zijin Mining, China's largest gold miner and one of the country's leading copper producers, has started operations at its Cukaru Peki copper and gold mine in Serbia. The resource, part of the Timok project, is expected to make the Balkan country the second largest...

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Iron ore: Vale reduces metal supply

Iron ore: Vale reduces metal supply

Vale SA produced more than analysts expected and outperformed both the previous quarter and the year-ago period, as part of an ongoing recovery from the 2019 tailings dam disaster and thanks to better weather. But with iron ore futures down more than 40% from their...

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Copper: Chinese investment projects abroad

Copper: Chinese investment projects abroad

China consumes nearly 14 million tonnes of copper each year, more than the rest of the world combined. But domestic supply last year was only about 2 million tonnes, including scrap, and mined production has been stagnant for years. Imported concentrate, from some 30...

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Copper: Sumitomo to sell Chilean mine shares to South32

Copper: Sumitomo to sell Chilean mine shares to South32

Japan's Sumitomo Metal Mining and Sumitomo Corp have agreed to sell their stakes in Chile's Sierra Gorda copper mine to Australian miner South32 Ltd for about $1.5 billion. The Japanese companies, which together hold a 45% stake, had reported last year that they were...

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Coal: prices rebound as never before under the Trump age

Coal: prices rebound as never before under the Trump age

Donald Trump promised to revive the coal industry, but it is President Joe Biden who is seeing a big comeback for the fossil fuel. US power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden's ambitious plan to remove...

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Aluminium: 13-year highs reached

Aluminium: 13-year highs reached

Aluminium has risen to its highest level since 2008 as a deepening energy crisis squeezes supplies of the energy-intensive metal that is used in everything from beer cans to iPhones. Each tonne of metal requires around 14 megawatt hours of energy to produce, enough to...

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Batteries: US narrows gap with China

Batteries: US narrows gap with China

According to Global Lithium-Ion Battery Supply Chain Ranking, the US is closing the gap with China when it comes to the race to dominate the battery value chain. The US has the second largest EV market globally, after China. Tesla and Asian cell manufacturers continue...

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Electricity: price rises by 288% from Q2 2020

Electricity: price rises by 288% from Q2 2020

In arrivo una nuova stangata sulle bollette di luce e gas. A lanciare l'allarme è stato proprio il ministro della Transizione Ecologica, Roberto Cingolani. A new sting on electricity and gas bills is coming. The Minister for Ecological Transition, Roberto Cingolani,...

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ICMM: zero carbon emissions by 2050

ICMM: zero carbon emissions by 2050

According to the International Council on Mining and Metals (ICMM), the world's largest mining companies pledged on Tuesday to achieve a target of zero net direct and indirect carbon emissions by 2050 or sooner. The announcement comes ahead of next month's UN climate...

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Copper: fire halts production at Salobo mine

Copper: fire halts production at Salobo mine

Vale reported that production of copper concentrate at its Salobo mine in the state of Para, Brazil, is suspended due to a fire that struck a conveyor belt, causing no injuries or fatalities but only material damage. The company expects to resume production at the...

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Copper: BHP in talks for DRC project

Copper: BHP in talks for DRC project

The Melbourne-based miner is in talks with Ivanhoe Mines Ltd. to buy Western Foreland, a huge exploration territory that borders Ivanhoe's Kamoa-Kakula mine. The foray into a nation emerging from decades of conflict would mark a shift in strategy for BHP, which has...

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Nickel: BHP opens first Australian plant

Nickel: BHP opens first Australian plant

BHP announced on Friday that it has produced the first nickel sulphate crystals from its plant in Kwinana, outside Perth, part of a strategy to grow its battery metals footprint to meet expected rising demand. Nickel is a key component for electric vehicle (EV)...

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Copper: Ivan Merino blames MMG for Las Bambas riots

Copper: Ivan Merino blames MMG for Las Bambas riots

Peru's mining minister Ivan Merino reported Thursday that the unrest at the huge Las Bambas copper mine was partly caused by MMG Ltd's decision to rely on a dirt road to transport the metal, and called for a rail line to be built instead. The dirt road has become a...

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Steel: China decides the collapse of world production

Steel: China decides the collapse of world production

According to Worldsteel Association data, world steel production in 64 countries stood at 156.8 mt in August, down 1.4% from the same period last year. On a monthly basis there was a decline of around 3%. In summary: Africa 1.3 Mt (+38.2%) Asia and Oceania 112.7 Mt...

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Copper: Peru’s US$1.4 billion Tia Maria mine casts doubts

Copper: Peru’s US$1.4 billion Tia Maria mine casts doubts

Peru's economy and finance minister has raised further doubts about Southern Copper's long-delayed $1.4 billion Tía Maria project in the southern province of Islay, Arequipa region, saying the proposed mine is 'socially and politically' unfeasible. Tía María has...

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Nickel: possible negotiations for the sale of Atlantic Nickel

Nickel: possible negotiations for the sale of Atlantic Nickel

London-based private equity fund Appian Capital is reportedly in advanced talks to sell its Atlantic Nickel unit in Brazil for about $1 billion, with Canadian Teck Resources (the company did not comment). The Canadian company's main interest is Atlantic Nickel's Santa...

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Copper: shutdown for Peru’s Las Bambas mine

Copper: shutdown for Peru’s Las Bambas mine

Chinese miner MMG will once again have to halt operations at its Las Bambas copper mine, one of Peru's largest, as community protests in the neighbouring province of Chumbivilcas have affected supply logistics. The blockade of public roads along Peru's main copper...

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Tin: record prices on low stocks

Tin: record prices on low stocks

Tin prices jumped to a record high on Friday as inventories in warehouses fell and supply problems persisted. Benchmark tin on the London Metal Exchange rose to a record $36,770 a tonne, and by early afternoon was trading 2.4 percent higher at $36,310. Metal prices...

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Rare earth: Minmetals plans strategic restructuring

Rare earth: Minmetals plans strategic restructuring

Minmetals is planning a strategic restructuring of rare earths with another state-owned company, Chinalco, and the Ganzhou city government. China Minmetals Rare Earth Co Ltd and Chinalco Rare Earth & Metals Co are two of the "Big Six" state-owned enterprises...

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Zinc: Teck Resources cuts production forecasts

Zinc: Teck Resources cuts production forecasts

Teck Resources, Canada's largest diversified miner, has cut its refined zinc production estimates for 2021 due to widespread wildfires in British Columbia over the summer. Operations at the Vancouver, BC-based miner were temporarily shut down in August for about ten...

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Nickel: global production to increase by 6.8% in 2021

Nickel: global production to increase by 6.8% in 2021

Global nickel mine production is expected to grow by 6.8% to reach 2,427.4kt in 2021, after declining an estimated 4.2% to 2,272kt last year due to blockages and covid-related restrictions. Indonesia (+16.3%), the Philippines (+5.1%) and Brazil (+24%) will contribute...

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Iron ore: Price falls below $100 a tonne

Iron ore: Price falls below $100 a tonne

The price of iron ore sank below $100 a tonne on Friday for the first time since July 2020, as China's moves to clean up its heavily polluting industrial sector caused a rapid and sharp collapse. The Ministry of Ecology and Environment planned to involve 64 key...

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Iron ore: 7% drop in China’s steel production data

Iron ore: 7% drop in China’s steel production data

The price of iron ore fell on Thursday after China reported a drop in the country's steel production in August. Mining stocks also fell, with BHP Group down more than 6% on the previous week, Rio Tinto Group down 5.3% and Vale down 7%. China produced 83.24 million...

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Copper: Codelco reaches a labour agreement with the union

Copper: Codelco reaches a labour agreement with the union

Codelco, the world's largest copper producer, said on Wednesday it had reached an agreement on a labour contract with a union representing workers in its small Salvador division in northern Chile. The miner and union Benito Tapia Tapia signed a 36-month agreement that...

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China to release more metal reserves to ease supply shortage

China to release more metal reserves to ease supply shortage

China will closely monitor market conditions and continue to release copper, aluminium and zinc from its state reserves in a bid to overcome supply-demand imbalances. "Currently, copper, aluminium and zinc prices are still high," said Li Hui, an official with the...

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Lithium: Albemarle reaches agreement, ending strike action

Lithium: Albemarle reaches agreement, ending strike action

Albemarle Corp, the world's top lithium producer, said on Wednesday it had reached a labour contract agreement with a union at its Atacama plant, ending a month-long strike that had inflamed tensions between workers and the company. The 135-member 'Albemarle Salar'...

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Steel: increasing EAF capacity utilisation in China

Steel: increasing EAF capacity utilisation in China

As of 9 September, the capacity utilisation rate of many of China's independent electric arc furnace (EAF) steel mills recovered after a two-week decline, rising 2.74 percentage points to 63.14%, as some EAF mills in eastern and southwestern China returned to...

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Copper: Codelco’s wage agreements ease supply tensions

Copper: Codelco’s wage agreements ease supply tensions

Workers at a Codelco mine in Chile have agreed to end a strike while union members at a BHP group mine have agreed to a new wage proposal, easing labour tensions in the copper-producing nation. Codelco reached an agreement to end a strike lasting more than three weeks...

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Iron ore: price drops to 11-month low

Iron ore: price drops to 11-month low

The price of iron ore fell to an eleven-month low on Thursday amid concerns that the global economic recovery is slowing. The price of iron ore fell 40 per cent from over $220 in July, mainly due to lower imports by China following its move to control steel production...

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Nickel: Vale Indonesia aims to complete HPAL plant

Nickel: Vale Indonesia aims to complete HPAL plant

Indonesian nickel miner PT Vale Indonesia said it aims to start construction of its Pomalaa project next year to produce material used in batteries for electric vehicles. Adriansyah Chaniago, deputy managing director, added that Vale is currently amending its...

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Aluminium: Guinea’s coup adds bauxite to supply concerns

Aluminium: Guinea’s coup adds bauxite to supply concerns

The trigger for the latest rise was news of a military coup over the weekend in Guinea, a major producer of bauxite, which is processed into alumina and then into primary aluminium. The aluminium market does not normally pay much attention to disruptions at the end of...

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Coup in Guinea: third largest producer of bauxite

Coup in Guinea: third largest producer of bauxite

The military junta that seized power in Guinea reportedly plans to establish a unity government pending a transition to civilian rule, urged mining companies to continue operating and reassured them that their existing agreements with the state will be honoured....

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Aluminium: new capacity to tame prices

Aluminium: new capacity to tame prices

A prolonged period of high aluminium prices, created in part by production cuts in China, is expected to encourage new capacity elsewhere in the world, which will eventually weigh on prices at 10-year highs. Benchmark aluminium on the London Metal Exchange reached...

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Steel: Chinese prices could rise in September

Steel: Chinese prices could rise in September

Chinese domestic construction steel prices could stabilise and rebound this month, with both demand and supply growth. Demand growth could outpace supply growth, and construction steel inventories could decline further. As for construction steel demand, the operating...

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Copper: Chile needs USD 150 billion to increase production

Copper: Chile needs USD 150 billion to increase production

According to energy and mines minister Juan Carlos Jobet, Chile, a mining powerhouse, needs $150 billion in investment to reach its goal of doubling copper production by 2050, part of a larger plan by the world's leading copper producer to increase production while...

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Iron ore: price falls on negative outlook for China

Iron ore: price falls on negative outlook for China

Iron ore prices moved lower as the market weighed an upcoming seasonal pick-up in Chinese demand against the prospect of a broadly weakening economy and further restrictions on steel production. The price had regained ground after the July slump, with the upcoming...

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Cobalt: producers racing to fill growing supply gap

Cobalt: producers racing to fill growing supply gap

The exponential growth in demand for cobalt is putting pressure on manufacturers to increase supplies to fill the growing supply gap, as electric vehicle (EV) penetration rates in car production increase by more than 50% by 2030. According to some studies, there are...

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Copper: potential strike at Bhp’s Cerro Colorado mine

Copper: potential strike at Bhp’s Cerro Colorado mine

The workers' union at BHP's Cerro Colorado copper mine in Chile has called on its members to reject a final contract offer from the company, paving the way for a strike at the small deposit. The union tensions come shortly after a court ordered the mine to stop...

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Aluminium: close to 3-year highs

Aluminium: close to 3-year highs

Aluminium traded near its highest level in three years as supply disruptions tightened the market. The metal has risen 32% this year, second only to tin among the six base metals traded on the London Metal Exchange, driven by the global economic recovery. The price is...

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Copper: Codelco expands Salvador mine

Copper: Codelco expands Salvador mine

Chilean state-owned miner Codelco, the world's No. 1 copper producer, has invested $1.4 billion in the Salvador copper mine, extending the productive life by 47 years and increasing production by almost 50%. The Rajo Inca project will convert Salvador, which has been...

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Rare Earth: EU considers aid for the production of magnets

Rare Earth: EU considers aid for the production of magnets

The EU is working on proposals to revive domestic production of a type of magnet specialised in electric car engines, offering support to local producers so they can compete with Chinese rivals. The moves to support production of rare-earth permanent magnets would...

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Lithium: Atomredmedzoloto plans mining on the Kola Peninsula

Lithium: Atomredmedzoloto plans mining on the Kola Peninsula

The Atomredmedzoloto mining subsidiary of Russia's state nuclear energy company Rosatom plans to start producing lithium compounds in both the Kola Peninsula and the Irkutsk region of Siberia. Investment in lithium mining projects in Russia is estimated at over 50...

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Copper: Zijin Mining cuts emissions at Bor smelter in Serbia

Copper: Zijin Mining cuts emissions at Bor smelter in Serbia

The town of Bor in Serbia has a decades-old air pollution problem due to its proximity to one of Europe's largest copper mines. Excessive amounts of sulphur dioxide, a by-product produced by the copper smelting plant, have threatened the health of its inhabitants and...

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Copper prices: bearish trend continues

Copper prices: bearish trend continues

Copper prices are on a downtrend after reports showed worsening manufacturing growth in the US and China. Chinese factory activity expanded in July at the slowest pace in 17 months, with the official purchasing managers' index (PMI) falling to 50.4 from 50.9 in June,...

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Zinc: Glencore reaches agreement

Zinc: Glencore reaches agreement

Reuters reported that Glencore Plc has agreed to pay $9.85 million to settle a private antitrust lawsuit in the US accusing two units of the Anglo-Swiss mining company of trying to monopolise the zinc market, driving up its price. The preliminary settlement revealed...

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Aluminium: Kitimat reduces production following a strike

Aluminium: Kitimat reduces production following a strike

Rio Tinto has begun reducing production at its BC Works aluminium smelter in Kitimat, Canada, due to a strike initiated by the Unifor Local 2301 union after negotiations failed to reach a new collective bargaining agreement. Production will be reduced to about 35 per...

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Copper and lithium: vote on Chilean mining royalties postponed

Copper and lithium: vote on Chilean mining royalties postponed

Chile's Senate has postponed for almost three weeks a vote on an opposition-sponsored bill that could increase taxes on miners by up to 75% depending on the price of copper, the country's main export. The bill, first introduced in 2018, calls for a 3% royalty on sales...

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Iron ore: chinese demand unlikely to increase in August

Iron ore: chinese demand unlikely to increase in August

In August, it will be difficult to see much growth in Chinese iron ore demand when most steel mills are under pressure to control steel production. This month, any increase in domestic steel production from newly added capacity will also be quite limited. Meanwhile,...

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Copper: Codelco increases production by 14.9% in June

Copper: Codelco increases production by 14.9% in June

Chile's state copper commission Cochilco said Codelco, the world's largest copper miner, increased its output by 14.9% year-on-year to 151,600 tonnes in June. BHP's Escondida, the world's largest copper mine, saw output fall 21.6% year-on-year to 82,900 tonnes in the...

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Copper: global supply at risk

Copper: global supply at risk

A tightening global copper market is facing the real possibility of simultaneous disruptions at three mines in Chile, the top producer. By far the most serious threat to global supplies comes from Escondida, the world's largest copper mine, where workers rejected...

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Acetic acid: production is currently stopped for maintenance

Acetic acid: production is currently stopped for maintenance

The acetic acid market is consolidating upwards. The price rose to €779.7/mt (2/8/2021), an increase of 2.30% compared to the close recorded on July 29 (€762.16/mt). The acetic acid market rose slightly, the Guangxi and Anhui Huayi plants were closed for maintenance...

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Lithium: Rio Tinto prepares to ship pilot plant to Serbia

Lithium: Rio Tinto prepares to ship pilot plant to Serbia

Rio Tinto Ltd is set to ship a pilot lithium processing plant to Serbia from Melbourne in the coming weeks. The work, undertaken at a science center on the outskirts of Melbourne, has found a way to economically extract lithium from jadarite, a mineral that has only...

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Copper: Peru’s roadblocks hit Las Bambas mine once again

Copper: Peru’s roadblocks hit Las Bambas mine once again

A four-day roadblock in Peru by protesters seeking greater benefits from natural resource exploitation is disrupting operations at MMG Ltd's Las Bambas copper mine, one of the country's largest. Residents of three communities in the Chumbivilcas province of the Andean...

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Newmont to decide on $2 billion project in Peru by end of year

Newmont to decide on $2 billion project in Peru by end of year

Newmont will make a decision on a $2 billion investment in its Yanacocha mine in the Cajamarca region of northern Peru before the end of the year, according to CEO Tom Palmer. Newmont plans to develop the first phase of sulfide deposits and an integrated processing...

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Steel: world production up in June on an annual basis

Steel: world production up in June on an annual basis

Global crude steel production for the 64 countries reporting to the World Steel Association stood at 167.9 million tons (Mt) in June 2021, an increase of 11.6% over June 2020 but down 3.73% from May (167.9 Mt). Steel production by geographical area Africa produced 1.5...

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Silver: bullish formation in progress

Silver: bullish formation in progress

The precious metal, industrial par excellence shows a bullish conformation, both on a weekly and monthly basis. The formation of a pennant, which identifies a moment of slowdown of the trend in place is then destined to resume its run. The prices are currently...

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Copper: possible break up of 9450 $/ton

Copper: possible break up of 9450 $/ton

Stable phase in the month of July for copper quotations with fluctuations between 9130 $/ton and 9632 $/ton. At the moment prices are under pressure against the first real resistance located in the 9450 $/ton area (transit area of the bearish line drawn from the highs...

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Nickel: BHP will be the supplier of Tesla

Nickel: BHP will be the supplier of Tesla

BHP Group reported Thursday that it has signed a nickel supply agreement with Tesla and will work with the electric carmaker to lower carbon emissions in the battery supply chain. Tesla CEO Elon Musk has urged miners to produce more nickel, with demand set to...

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Copper: Ivanhoe’s Kamoa-Kakula exports first concentrate

Copper: Ivanhoe’s Kamoa-Kakula exports first concentrate

Ivanhoe Mines' Kamoa-Kakula mine in the Democratic Republic of Congo (DRC) has begun exporting copper concentrate to international markets as the metal continues to trade near all-time highs. The first truckloads left the mine on July 17 and will be shipped...

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Metal recycling: key to reducing emissions

Metal recycling: key to reducing emissions

According to Wood Mackenzie consumer awareness of carbon emissions from metals production for the energy transition will eventually spur the recycling industry and encourage the search for substitutes that could spoil the party for large manufacturing companies. An...

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Iron ore: production down for Rio Tinto

Iron ore: production down for Rio Tinto

Rio Tinto reported a 12% drop in quarterly iron ore shipments after storms hit its operations in Western Australia. The company reported that it now expects to ship near the lower end of its range of 325 million tons and 340 million tons in 2021, meaning it could be...

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US Dollar: What effects on commodities market

US Dollar: What effects on commodities market

The US dollar seems to be recovering against the euro, the renminbi and the other major currencies (Jby,Gbp, Cad, Sek and Chf - summarized in the dollar index). By graphically analyzing, on a weekly basis, quotations started to rise again from the fundamental support...

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EU and Ukraine sign preliminary agreement on key raw materials

EU and Ukraine sign preliminary agreement on key raw materials

The European Union and Ukraine on Tuesday signed a memorandum of understanding (MoU) covering critical raw materials and batteries. The move is part of the European Commission's action plan on critical raw materials announced in September to strengthen supplies of...

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Peru: Castillo expects mining companies to accept tax changes

Peru: Castillo expects mining companies to accept tax changes

The gap between the business sector of the world's second-largest copper producer and the new leftist government is closing. Pedro Francke, Castillo's economic adviser, reported that he expected businesses would not oppose a planned overhaul of tax rules after dozens...

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Copper: possible rebound in prices for July

Copper: possible rebound in prices for July

From mid-May 2021 until June 21, 2021 copper prices corrected the bullish movement started in March 2020 (+144% new highs since 2009 in 10740 S/ton area). From June 21, 2021 prices started to settle, favoring a first recovery towards 9500 $/ton (currently prices are...

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Lithium: supply chain threatened by geopolitical tensions

Lithium: supply chain threatened by geopolitical tensions

Geopolitical risks and tensions between the U.S. and China pose a threat to the global lithium supply chain, according to a new report from Fitch Solutions Country Risk & Industry Research. Increasingly tense relations between the U.S. (a rising battery producer...

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Iron ore: price rises on Tangshan production recovery

Iron ore: price rises on Tangshan production recovery

Iron ore prices rose Monday, fueled by increased demand when Tangshan steel mills resumed production after China's centennial. Steel production at some producers has been limited due to the Communist Party's centennial and environmental policies, dropping blast...

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Rare earth: Vital Metals becomes Canada’s leading producer

Rare earth: Vital Metals becomes Canada’s leading producer

Vital Metals Limited has begun production of rare earth at its Nechalacho project in Canada's Northwest Territories. The company is now the first rare earth producer in Canada and the second in North America, in addition to California's Mountain Pass mine. CEO Geoff...

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Copper: royalty reform could dampen investor appetite

Copper: royalty reform could dampen investor appetite

The proposed amendments to Chile's mining royalty regime will not have a drastic impact on the country's production landscape in the short term. However, there is a clear risk that the amendments could undermine the continued appetite for making large-scale, long-term...

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Vale’s Sudbury strike strains nickel supply

Vale’s Sudbury strike strains nickel supply

A strike at Vale SA's operations in Sudbury, Canada, is disrupting the market for nickel, which is key to powering electric vehicles. Sudbury is one of the world's few producers of nickel pellets, a form used to make alloys for the aerospace, electronics and nuclear...

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Aluminum could anticipate bullish July movement

Aluminum could anticipate bullish July movement

Since the May 2021 highs, primary aluminum has been in a broad triangular phase, with prices now pressuring against the upper extreme in the $2470/mt area. The current pattern identifies itself as a symmetrical triangle, with bullish/bearish implications depending on...

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Copper: preliminary production data for March 2021

Copper: preliminary production data for March 2021

Preliminary data released by the International Copper Study Group (ICSG) indicates that global copper mine production increased 3.7% in the first three months of 2021, with concentrate production up 5.5%. WORLD MINING PRODUCTION Global mine production began to recover...

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China will auction the first batch of state metal reserves

China will auction the first batch of state metal reserves

China's State Reserves Administration reported that it would publicly auction a total of 100,000 tons of nonferrous metals early next month in the first round of a rare and much-anticipated release of its inventories. The National Food and Strategic Reserves...

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Copper supply must double by 2050

Copper supply must double by 2050

Glencore CEO Ivan Glasenberg told the Qatar Economic Forum that a supply gap is growing in the metals the world needs to replace fossil fuels with renewable energy. According to Glasenberg, copper supplies need to increase by one million tons per year until 2050 to...

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Europe takes steps to reduce dependence on China

Europe takes steps to reduce dependence on China

Speaking at the summit of the European Raw Materials Alliance, European Commissioner for the Internal Market, Thierry Breton, expressed concern about the EU's dependence on third countries for 99 products, primarily raw materials (supply of rare earths, 98% of which...

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Serbia could become the second European copper producer

Serbia could become the second European copper producer

Serbia's Zijin Mining, a wholly owned subsidiary of Zijin and backed by China, has received permission from the Serbian government to begin mining operations at the Cukaru Peki copper and gold mine, part of the Timok project, in the eastern part of the country. The...

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Canada and EU together to reduce dependence on China

Canada and EU together to reduce dependence on China

Canada and the European Union have launched a new partnership to secure critical mineral supply chains and reduce dependence on China. Canadian Prime Minister Justin Trudeau reported that with EU partners, he discussed what to do to build a cleaner economy for years...

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Good turnaround performance for non-ferrous metals

Good turnaround performance for non-ferrous metals

Good turnaround performance for non-ferrous metals....positive day for all.....only primary aluminum seems to be struggling. Possible new weaknesses from next week...stay tuned with Commodity Evolution Our price estimates are for subscribers only. [button...

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Workers block rail line that supplies Cerrejon with coal

Workers block rail line that supplies Cerrejon with coal

Former workers have again blocked the rail line of Colombian coal miner Cerrejon, the latest protest to hit the beleaguered miner's operations recently. Cerrejon, jointly owned by BHP Group, Anglo American Plc and Glencore Plc, has had repeated disagreements with...

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What to expect in June on tin prices

What to expect in June on tin prices

Since the end of March 2020, tin prices, as well as most commodities, have developed a sharp rise, performing an unbelievable +142% (from lows to highs). What to expect then for June? Analyzing Uninterrupted Positive close: on a monthly basis, it is possible to...

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May seasonality confirms a negative trend for the month

May seasonality confirms a negative trend for the month

Seasonality in the May suggested, in most cases, that the first 10 days of the month non-ferrous metals would continue the current bullish impulse phase, but in the remaining days of the month this impulse would slow down. In fact, things are currently moving in this...

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Ferrous metals divided on cutting China’s steel output

Ferrous metals divided on cutting China’s steel output

Soaring prices for a range of ferrous products, including steel, iron ore and coke, since April have further divided ferrous market sources inside and outside China over their views on the possibility of Chinese steel production cuts, despite Beijing's reiterations...

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Chile’s 75% copper tax is increasingly a reality

Chile’s 75% copper tax is increasingly a reality

Chile's lower house has approved a progressive rate on copper sales in what could become one of the heaviest tax burdens in the global mining sector, potentially stalling investment and raising prices. Lawmakers, who had already approved a bill to introduce a fixed 3%...

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China suspends economic dialogue with Australia

China suspends economic dialogue with Australia

China on Thursday suspended indefinitely all activities of the China-Australia Strategic Economic Dialogue. Chinese Foreign Ministry spokesman Wang Wenbin reported that the suspension was a "necessary and legitimate" response to Australia "abusing" the concept of...

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Weak Chinese demand drives tin exports

Weak Chinese demand drives tin exports

Customs data from China indicate that the country was a net exporter of refined tin again in March. Net exports were about four times higher than in February. The data reveals that refined tin imports fell to 102 tons in March, down about 78%. This is the lowest level...

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Copper price soars even as gloomy forecast for the future

Copper price soars even as gloomy forecast for the future

Copper once again approached the crucial $10,000-per-ton level on Tuesday amid bullish sentiment and renewed supply concerns in the world's most important producing region. Copper's rally, which has more than doubled in price from its all-time lows, has been fueled by...

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Plastics, Polynt composites price increases

Plastics, Polynt composites price increases

Polynt Composites, an Italian company operating in the field of raw materials for the composites industry, has announced an increase of 400 euros/ton for all compounds. The decision was taken to balance the increase in raw material costs in Europe, as an effect of...

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Chinese steel stocks fall further on sustained demand

Chinese steel stocks fall further on sustained demand

Between March 26 and April 1, Chinese steel traders saw their finished steel inventories fall further, with a 1.6 million tonne week-on-week decline, faster than the previous week's 1.5 million tonne drop, mainly due to further strengthening demand. Inventories held...

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Zinc close to 2750$/ton area

Zinc close to 2750$/ton area

Zinc's downturn started on March 23 approached the first intermediate support in the area 2750$/ton (April 1, 2021). This intermediate level could give way, leaving room for quick pullbacks towards $2720. Also on a statistical level, in the last 5 years of trading,...

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Aluminum close to $2300 area

Aluminum close to $2300 area

Aluminum quotations continue to strengthen, a situation due to currently unsustainable delivery times and costs. Despite this, prices are approaching a fundamental psychological level of $2300/ton. A lot of volatility will be created at these prices. Indicators on a...

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China’s steel suppliers brace for cut in tax rebates

China’s steel suppliers brace for cut in tax rebates

China's steel mills and traders are gearing up to protect their business from the impact of possible cuts in export tax rebates on certain steel products, currently being considered by the central government. Industry sources say there is a new sense of urgency in the...

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High volatility for zinc prices

High volatility for zinc prices

In the last 1 hour, zinc prices have registered a 4.50% movement between the opening of 8 am (2749.50$/ton) and its minimum (2627$/ton), to then recover part of the lost ground (2720$/ton at 9.30 am). In this way the prices have created a long "spike" (lower line...

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Aluminum prices negative for March

Aluminum prices negative for March

Could the seasonality of March be pushing aluminum prices down? From chart 2. it sure looks like prices have been moving negatively in the month under review for the past 30-15-10-5 years. From chart 1. today could be the last day of rebound for aluminum prices, and...

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Chinese steel prices likely to remain high as demand recovers

Chinese steel prices likely to remain high as demand recovers

According to the latest monthly report from the China Iron & Steel Association (CISA) released on February 23, steel prices in China are likely to continue at their current high levels, supported by a recovery in demand after the Chinese New Year holiday and high...

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Zinc – Prices could reverse in the short term

Zinc – Prices could reverse in the short term

After 3 weeks of the zinc price consecutive rise, the fourth week (the current one) is creating a Japanese candle called shooting star. This pattern does not have the same power as the other stars signals, however the prices are right behind an important price level...

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Strong backwardation for tin

Strong backwardation for tin

The spread between cash and 3-month tin stands today at about $3900/mt. We are in a strong backwardation situation. With deposits at their lowest since 2016 (1,400ton in Lme warehouses) and concerns about a shortage of current supply have pushed ip the current price.

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Copper – Price marks new highs since 2012

Copper – Price marks new highs since 2012

New upward impulse for copper which today registers a price excursion (between highs and lows) of 310$/ton (+3.50%). On a technical level, the upward break of the wide congestion between $4320 and $7385 (Dec 2012 to Dec 2020) projects a second long-term price target...

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Aluminium – Chinese imports grow faster than exports

Aluminium – Chinese imports grow faster than exports

By analyzing the components of the trade balance relating to China's Aluminium and articles thereof, it is possible to identify how from May imports on a cumulative basis (Import Trend) began to grow much faster than exports, with a drop in August/September and a...

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Japan’s steel exports fall 13% y/y in January

Japan’s steel exports fall 13% y/y in January

According to preliminary data released by Japan's Ministry of Finance on February 17, Japan's steel exports of all types and shapes fell 13.3% year-on-year to about 2.43 million tons in January, which is the ninth consecutive month with year-on-year declines. Japan's...

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Steel 2021 positive outlook

Steel 2021 positive outlook

According to the European Steel Association in 2020 (Eurofer), steel consumption in the EU was 134 mln tons, down 13% compared to 2019. The year just ended is the worst since 2009 and reflects a contraction on both the production and import side. The outlook for 2021...

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Global scrap prices rebound

Global scrap prices rebound

Turkey's imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel. Japan's main EAF steel mill, Tokyo Steel has increased the purchase price...

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Aluminum close to highs

Aluminum close to highs

Aluminum has reached December 2020 highs in the $2093/ton area (100% target of Fibonacci expansion from the bearish channel breakout point). Will it break up or generate an initial correction? Analyzing the "Uninterrupted Close" statistic, aluminum has closed positive...

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Global scrap prices rebound

Global scrap prices rebound

Turkey's imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel. Japan's main EAF steel mill, Tokyo Steel has increased the purchase price...

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Commodity Insight – Aluminium

Commodity Insight – Aluminium

Great upward momentum for London-listed aluminum, with prices now in the $2070 area, approaching the recent highs of late December 2020 at $2090/ton. Possible new tests of this level. Will prices succeed in to the break up or will there be new reversals? Analyzing the...

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Chinese New Year could increase steel consumption

Chinese New Year could increase steel consumption

The Chinese New Year is only a week away, taking place from 11 to 17 February, usually a sacred period for family unions. But unlike other years, this year migrant workers in China's major urban centres will be encouraged by the central government to stay where they...

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Commodity Insight – Copper

Commodity Insight – Copper

As written in the January 26th post, copper prices could have broken down through the support at $7800 and they did. UpDate - After reaching the highs of 2012 in the $8237/mt area, copper prices have started a downward spiral, included in a descending channel that may...

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Commodity Insight – Copper

Commodity Insight – Copper

The copper settles in a narrow range between $8230 and $7800. The negative divergence of the MACD indicator suggests a loss of strength in the metal, which could extend a possible correction below $7800 towards the wider targets in the $7700 and $7400 area. The medium...

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Commodity Insight – Aluminium

Commodity Insight – Aluminium

The strong rally in aluminium that started in March last year is slowing down slightly. However, prices are above all major dynamic supports (200- and 50-week moving averages). Last week's pullback may have triggered a new upward impulse with short-term targets in the...

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Iron ore exceeds the high of the last 7 years

Iron ore exceeds the high of the last 7 years

Iron ore spot prices continue to trend upward, confirming the trend that began in May. The price has surpassed the high seen in 2013 ($130/ton), moving above the $150/ton area. Demand from China's steel industry remains strong, with production expected to exceed 1...

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