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Zinc: European zinc smelters’ power problems drive up prices
When Nyrstar reported in October that it was cutting production by up to 50% at its European smelters in the face of spiraling energy prices, zinc on the London Metal Exchange (LME) rose to a 14-year high of $3,944 per tonne. However, the rally proved short-lived;...
Copper: talks stalled to unlock corridor used by Las Bambas of MMG in Peru
Peruvian government officials failed to broker a deal Tuesday to unblock a key distribution corridor used by MMG Ltd's Las Bambas copper mine. The dirt road from the Chinese-owned mine to a seaport has been blocked for 18 days by residents of Chumbivilcas province....
Zinc: prices will stay strong on likely smelter closures
Zinc prices are expected to remain firm in the coming months due to rising energy costs that could cause further smelter shutdowns, keeping supply and inventories tight. Benchmark prices on the London Metal Exchange have lost about a fifth since hitting a 14-year high...
Copper: by mid-December MMG will close Las Bambas mine operations
Chinese company MMG will end copper production from its Las Bambas mine in Peru by mid-December, following roadblocks that have prevented essential supplies from reaching the operation for months. The company, a unit of state-owned China Minmetals, reported that...