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Aluminum: Chinese producers look to Indonesia after reaching capacity ceiling
Chinese aluminum producers look to Indonesia for smelters like nickel producers. Indonesia has shown interest in hosting aluminum smelters as it did with nickel. Indonesia wants to stop exporting aluminum raw materials and is working to convince foreign investors to...
Elliott Associates sues London Metal Exchange over cancelled transactions
A lawsuit filed by Elliott Associates and Jane Street Global Trading against the London Metal Exchange (LME) for canceling nickel trades during chaotic March 2022 trading will be heard in a London court on June 20-22. On March 8, 2022, nickel prices more than doubled...
Copper: how long the current rebound will last
Copper prices rebounded after the May decline. After the beginning of the month, copper started to form short-term patterns showing a potential upward reversal. However, price action should continue to climb and break through resistance levels to establish a clear...
Crude steel: Italian production down 9.5% in May
Italy's crude steel production fell again in May. According to data released by the Italian Steel Producers Association, the country's crude steel production amounted to 1.99 million tonnes in the month under review, down 9.5% year-on-year. In May, the production of...