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Rebar: Chinese price hits four-month low
On 16 June, China's domestic rebar price hit a four-month low of $778/mt. On Thursday, the daily trading volume of construction steel, which also includes wire rod and coil, among traders fell by 27,493 t/d to 117,597 t/d, hitting a nearly four-month low. Many...
Ferrous scrap: Shagang Steel reduces purchase price by $15/t due to bearish sentiment
China's leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, reduced scrap purchase prices for the third time in June 2022 due to poor domestic sales of finished steel. Sources confirmed that the steel mill reduced scrap purchase prices by RMB...
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...
Codelco unions ready for strike after closure of Chilean foundry
Workers at Chile's state-owned mining company Codelco, the world's largest copper producer, said Saturday they would begin preparations for a nationwide strike after the company announced the closure of its Ventanas smelter. The unions had threatened to strike last...