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Aluminum: China absorbs metal as domestic production shrinks
Chinese imports of primary aluminum jumped to a one-year high of 110,700 tons in November, a significant reversal from the recent past. The country became a net exporter in the first half of 2022, with the primary metal shipped as far as Europe and the United States...
Copper: prices drop from one-week highs on Chinese COVID fears
Copper prices fell from one-week highs Thursday as demand concerns due to a surge in COVID-19 infections in China, the main consumer, overshadowed support from a weaker dollar and falling stocks. Three-month copper on the London Metal Exchange is down 0.33 percent at...
Nickel: Russian mining giant Nornickel plans to cut production by 10 percent next year
MMC Norilsk Nickel PJSC is considering reducing nickel production by about 10 percent next year as some European buyers shun Russian supplies and amid a potential surplus of the metal. The miner controls about one-tenth of the global nickel market and had forecast...
Steel and aluminum: Europe will impose duties on carbon-intensive products
Global metal production is already set to change in 2023. In fact, the European Council and the European Parliament recently reached a tentative agreement on the Carbon Border Adjustment Mechanism (CBAM). This mechanism would impose new tariffs on materials from...