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Copper: hedge funds bet against the metal for the first time in three years
Hedge funds are betting against copper on the London Metal Exchange for the first time since the early months of the pandemic – a sharp reversal from a few weeks earlier, after China’s disappointing recovery sent prices plummeting. Data from the LME this...
Copper: the new ‘Copper Board’ aims to boost Argentine projects
A group of companies that are members of the Argentine Chamber of Mining Entrepreneurs has launched a 'Copper Board' to push $22bn of investment for copper projects in the western provinces of Catamarca, Salta and San Juan. According to local media reports, the...
Steel: demand from ASEAN-6 countries will increase by 3.4% in 2023
The Southeast Asian Iron and Steel Institute (SEAISI) expects steel demand in ASEAN-6 countries to increase by 3.4 per cent to 77.6 million tonnes in 2023, after a 0.3 per cent increase in 2022. Indonesia and the Philippines will make the largest contribution to steel...
Imports put bearish pressure on European steel mills
Market participants report that prices for hot-rolled coils (HRC) in Northern Europe continue to fall. The reason for this alarming steel news is mainly import pressure. In addition, low demand and oversupply were contributing factors to the price fluctuations and the...