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Zinc: prices will stay strong on likely smelter closures
Zinc prices are expected to remain firm in the coming months due to rising energy costs that could cause further smelter shutdowns, keeping supply and inventories tight. Benchmark prices on the London Metal Exchange have lost about a fifth since hitting a 14-year high...
Copper: by mid-December MMG will close Las Bambas mine operations
Chinese company MMG will end copper production from its Las Bambas mine in Peru by mid-December, following roadblocks that have prevented essential supplies from reaching the operation for months. The company, a unit of state-owned China Minmetals, reported that...
Scrap: Japanese prices fall to a new low
Japanese scrap export prices continued to fall and reached a two-month low. Meanwhile, no major deals have been reported from major buying countries such as Vietnam and South Korea. South Korean steelmaker Hyundai Steel recently reduced bids for Japanese ferrous scrap...
Steel: chinese stocks fall further
In the latest week, China's total inventories of the five main finished steel products (reinforcing bar, wire rod, hot-rolled coil, cold-rolled coil, and medium plate) hit a 10-month low, falling another 3.9% or 623,800 tons weekly to 15.2 million tons. Of these,...