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Copper: price falls as manufacturing slumps and demand weakens
Copper prices fell Wednesday as rising expectations that China will loosen COVID-19 controls next year were offset by an uninspiring near-term outlook for metals production and demand. The market also braced for a sharp interest rate hike in the United States later in...
Iron ore: Brazil’s Vale and Saudi NIDC sign MOU for pellet plant
Brazil's Vale mining group and Saudi Arabia's National Industrial Development Center have signed a memorandum of understanding to develop a 4-million-meter-per-year iron ore pellet plant in the industrial city of Ras Al-Khair in the Persian Gulf. The MoU includes the...
Vietnamese steel mills record biggest losses ever
The country's major steel mills posted their biggest loss ever in the third quarter of the year due to low sales, rapidly falling prices and high inventories. The country's largest steel producer, Hoa Phat, posted an after-tax profit of VND1.79 trillion ($72 million),...
Metals: pressure increases on LME to ban Russian product
The London Metal Exchange is reportedly struggling over how to handle the supply of metal from "sanctioned" Russia. Their concerns continue to be heightened by the fact that some nations, led by China, continue to be interested in buying Russian stocks. Following...