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Aluminium: Emirates Global Aluminium’s 2022 profit rises to a record $2 billion
Emirates Global Aluminium (EGA), one of the world's largest aluminum producers, said Tuesday that its annual net profit for 2022 rose 34 percent to a record 7.4 billion dirhams ($2.01 billion) thanks to rising metal prices. The UAE company said the average price...
AQR heads 10 hedge funds suing LME over nickel crash in March
AQR Capital Management has formally filed a lawsuit in London against the London Metal Exchange (LME), joining nine other hedge funds in a series of claims over the exchange's decision to cancel billions of dollars of nickel trades last year. AQR and DRW Commodities...
Lithium: South America is trying to create an OPEC-like cartel
Argentina, Chile, Bolivia, and Brazil are analyzing the creation of some sort of lithium cartel charged with expanding South America's processing capacity, turning more mined lithium into batteries, and tapping into the electric vehicle (EV) manufacturing sector. The...
Crude steel: daily production of CISA producers increased 6.09% at the end of February
The China Iron and Steel Association (CISA) says that the average daily crude steel production of all the country's large and medium-sized enterprises that are CISA members at the end of February (Feb. 21-28) this year increased by 6.09% compared to mid-February (Feb....