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Nickel: industry players flee Lme exacerbating market rifts
The London Metal Exchange is struggling to regain its dominant position in global nickel trading as volumes decline and participants flee an increasingly volatile market in the wake of trade chaos earlier this year. Nickel volumes plummeted after the LME suspended the...
Aluminum: Rusal offers price discount to buyers
Customers of Russian aluminum producer Rusal are getting price discounts to buy the group's metal amid fears that sanctions will weaken demand. Western sanctions against Moscow over its invasion of Ukraine have so far not directly targeted Hong Kong-listed Rusal, the...
Japanese ship orders drop 59% year-on-year in August but steel demand remains stable
According to the latest data released by Japan Ship Exporters, in August, new orders for Japanese ships from both home and abroad fell 59.1 percent year-on-year to 496,800 gross tons (GT) or 15 ships. The year-on-year decline was attributed in part to the high...
Iron ore: Rio Tinto and China Baowu to develop $2 billion Australian project
Rio Tinto Ltd said Wednesday it will work with its major customer China Baowu Steel Group to develop a $2 billion iron ore project in Western Australia in a bid to bolster production in the Pilbara region. The deal comes amid difficult relations between Australia and...