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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...
Nickel: new record in Shanghai on strong demand and low stocks
Nickel prices in Shanghai hit a new record on Tuesday, supported by solid demand from industrial sectors and low inventories worldwide. October’s most-traded nickel contract on the Shanghai Futures Exchange hit a record 149,870 yuan ($23,197) a tonne, up 21%...
Rio Tinto cuts rates on loans to Mongolia for Oyu Tolgoi expansion
Rio Tinto says it is ready to cut interest rates on loans to the Mongolian government given to finance its share of the construction costs of an underground expansion at the vast Oyu Tolgoi copper-gold mine in the Gobi Desert. In return, the company wants several...
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...