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Iron ore: imports into China increased by 7.7% in January-May
In the January-May period this year, China imported 481 million tonnes of iron ore, up 7.7% year-on-year. The average import price was RMB 791.5/mt ($111.5/mt), down 4.5% year-on-year. Iron ore imports amounted to 96.17 million tonnes in May alone, up 6.34%...
Stainless steel: demand for coils may return in September
Prices for hot and cold rolled coils in Europe have not yet bottomed out and values may continue to fall in June. Some sources in the Northern European flat steel industry believe that the bottom will be reached in July, after scrap prices have reached their lowest...
Copper: hedge funds bet against the metal for the first time in three years
Hedge funds are betting against copper on the London Metal Exchange for the first time since the early months of the pandemic – a sharp reversal from a few weeks earlier, after China’s disappointing recovery sent prices plummeting. Data from the LME this...
Copper-cobalt: Congo will increase its share with China
The Democratic Republic of Congo intends to increase its share in a cobalt and copper joint venture with Chinese companies to 70 per cent from 32 per cent, amid fears that the deal will deliver too many of Congo’s resources with little benefit to the country....