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HRC steel: cautious optimism for northern European product
The European coil market is characterized by cautiously bullish sentiment, reinforced by a recovery in demand that is expected to continue in the first quarter of 2023. The sustainability of the price increase and the recovery of market activity, however, has been...
Steel: China may reduce domestic steel capacity by targeting ASEAN countries
China will aim to curb steel production growth in 2023 and focus more on environmentally friendly capacity swaps, but remains intent on making capacity investments in ASEAN countries to keep its colossal steel industry running. China has commissioned about 30 million...
Gold: prices add 6-month highs thanks to technical buying
Gold prices jumped more than 1 percent to six-month highs, thanks to technical buying, as investors await the minutes of the Federal Reserve's latest policy meeting for more guidance on the path of rate hikes. Spot gold currently trades at $1,837.88 an ounce (09:36...
Steel: British Steel seeks help from government
Senior British government officials have reportedly urged the country's Treasury to provide some $360 million in funding to British Steel so that the company can keep its furnaces in northern England in operation. British Steel, owned by China's Jingye Group, has...