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Growing global steel overcapacity raises concerns for the coming years
According to the OECD's January report, the growth in global steel overcapacity is expected to match that of 2014, at the start of the last steel crisis. Steel capacity is expected to grow for the fifth consecutive year to reach 2.49 billion tonnes by the end of 2023,...
Aluminium: shares of Russian material in LME warehouses rise to 90 per cent after UK restrictions
The share of available stocks of Russian-origin aluminium in London Metal Exchange (LME)-approved warehouses rose to 90.4 per cent in December from 78.8 per cent in November, according to data published on the exchange's website on Wednesday. The increase follows...
European steel mills restart blast furnaces after shutdown as coil prices rise
The first quarter of 2024 opens with the slow resumption of production by European steel mills, which had been suspended since mid-2023 to keep steel prices low. In an attempt to put an end to the negative trend in the European coil market, caused by low demand,...
Equador: the country strengthens security in mines and ports
Ecuador's government tightened security at mines, ports and power lines on 10 January, as the country struggles to control a crime wave that has left at least 10 people dead. On 9 January, gunmen linked to drug trafficking bombed police stations and stormed facilities...