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Industrial metals: HSBC resigns as LME member
HSBC has resigned as a member of the London Metal Exchange, after the bank decided to close its industrial metals business two years ago. The exchange, the world's oldest and largest industrial metals market, announced that HSBC Bank plc has resigned from both the...
Copper: touched 3-week highs after other Chinese cities loosened restrictions from COVID
Industrial metals are on the upswing, with copper touching a three-week high thanks to the partial easing of COVID-19 restrictions in major metals consumer China, boosting hopes of a full reopening of the economy. Three-month copper on the London Metal Exchange is up...
U.S. rail strike lifted thanks to congressional intervention and Biden’s signature
On Dec. 2, U.S. President Biden signed legislation that averted the nationwide rail strike scheduled for Dec. 9 following a months-long dispute between railroad companies and unions. Thanks to this law, the economy will be spared some of the commodity price impacts...
Aluminum: demand in North America continues to grow
The Aluminum Association, as part of its monthly report on the state of aluminum, has released preliminary estimates showing 6.3 percent year-over-year demand growth for the aluminum industry in North America (U.S. and Canada) through the third quarter of 2022. "We...