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Copper: the metal suffers a sharp weekly loss due to concerns over slowing demand
Copper prices in London headed for their worst week in a year on Friday, while prices in Shanghai headed for their steepest weekly drop since March 2020, as worries grew over recession and weak economic readings indicated a likely impact on demand. Three-month copper...
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...
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...
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...