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Italian production disruptions hamper raw material sales
In the monthly note published by Assomet, the significant drop in scrap prices in Italy this month compared to June is causing a major slowdown in scrap collection. Most steel mills will stop production already in July to solve the overcapacity problem. Although scrap...
Steel: flat products manufacturer HBIS Serbia will shut down one of its two blast furnaces
Belgrade-based steel producer HBIS Serbia announced on 11 July that unfavourable global market conditions have led the company to close one of its two blast furnaces. "At HBIS Serbia, preparations are underway to close blast furnace number one. The reason for this...
Copper: price falls on strengthening dollar and demand concerns
Copper prices in London extended losses for the third consecutive session on Tuesday, hit by a strong dollar and demand concerns amid COVID-19 restrictions in major consumer China and a rise in global benchmark interest rates. Three-month copper on the London Metal...
Iron ore: Europe must redraw supply lines
Europe will have to rethink its iron ore supply lines after major producer Metinvest was forced to shut down three mining and processing operations due to logistical problems caused by the Russian invasion of Ukraine. In March, Ukraine became the largest supplier of...