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Copper: MMG closes Las Bambas mine due to unrest
Mining company MMG Ltd was forced to close Las Bambas copper mine due to community unrest triggered by the ousting of President Pedro Castillo late last year, putting its plant in Peru, the world’s second largest copper producing country, under maintenance....
Nickel: supply risk with potential export tax Philippines
The Philippines, the world’s second-largest nickel supplier, could tax nickel exports, following neighbouring Indonesia, thus increasing uncertainty over supply as the market adjusts to the wave of new demand for electric vehicles. The Southeast Asian nation is...
Crude steel: world production falls 10.8% in December
The World Steel Association (Worldsteel) announced that world crude steel production fell by 10.8% year-on-year to 140.7 million tonnes in December last year. For the year as a whole, world crude steel production stood at 1.83 billion tonnes, down 4.3% year-on-year....
Aluminium: stocks still at low levels
As with many base metals, prices rose in early January, with aluminium stocks remaining at their lowest levels. Although it is true that China's increase in aluminium export taxes may have affected aluminium prices, the market has seen rather volatile conditions since...