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Copper: prices rebound on hints of rate slowdown and improving Chinese demand
Fifth consecutive day of rises for copper prices, with a momentary weekly gain of 5 percent as traders priced in bets on a slowdown in the pace of U.S. interest rate hikes and China's reopening. Three-month copper on the London Metal Exchange held at $8,373/mt, as of...
Steel: Nucor and Dofasco raise sheet metal prices
North American steel mills Nucor and ArcelorMittal Dofasco have raised plate prices. Electric arc furnace (EAF) steel producer Nucor, one of the largest, raised its price by $60/ton yesterday due to new orders. Market participants had been waiting for Nucor to...
Cobalt: plummeting Chinese demand and rising supplies
Forward negotiations for cobalt 2023 have taken a challenging turn for sellers following a severe drop in Chinese demand, which has put pressure on prices and left the market well-supplied ahead of next year's expected surplus. This, after 2022 was supposed to be a...
Steel rebar and sections: Eu prices continue to fall as steel mills hunt for orders
European steel sections prices continued to fall the week of Nov. 30 as steel mills further reduced bids to attract demand. Steel mills may raise prices because they expect costs to rise in January, so mills have two options: cut production or raise prices. Meanwhile,...