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Copper: Glencore’s production fell
Glencore's copper production fell 12% in 2022 due to problems at its Katanga open-pit mine in the Democratic Republic of Congo (DRC). The London-listed company said it produced 1.06 million tonnes of copper last year and kept its forecast for 2023 unchanged at 1.04...
Nickel: supply risk with potential export tax Philippines
The Philippines, the world’s second-largest nickel supplier, could tax nickel exports, following neighbouring Indonesia, thus increasing uncertainty over supply as the market adjusts to the wave of new demand for electric vehicles. The Southeast Asian nation is...
Industrial metals: the sector follows the trend of the Chinese stock market
The Chinese stock market reacted to Beijing's turnaround on COVID infections with a surge in prices, particularly for technology stocks. Due to the strong correlation with the stock market, metal prices have continued to rise since December. The expectation is that...
Crude steel: world production falls 10.8% in December
The World Steel Association (Worldsteel) announced that world crude steel production fell by 10.8% year-on-year to 140.7 million tonnes in December last year. For the year as a whole, world crude steel production stood at 1.83 billion tonnes, down 4.3% year-on-year....