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Copper: exploration budgets increase
Total copper exploration budgets increased by 21% to just under USD 2.8 billion in 2022, the highest level since 2014. The increase was driven by the strong recovery in the price of copper after hitting multi-year lows at the start of the global pandemic. Copper...
Nickel: Trafigura suffers $577 million loss
Commodities trader Trafigura Group will incur an expense of almost half a billion dollars in the first half of 2023, after discovering that some nickel cargoes purchased did not contain the metal they were supposed to. The Geneva-based company said the 'systematic...
Wire rod steel: Italian market still stagnating
The Italian wire rod market is still stagnating that has continued over the past five months with some intermittent periods of recovery in demand. Economic stagnation and uncertainty are limiting domestic as well as import sales, with buyers talking of a significant...
Aluminium: Glencore deposits more Russian metal in the LME system
According to market sources, commodities trader Glencore has deposited over 100.000 tonnes of aluminium in warehouses registered by the London Metal Exchange in the South Korean port of Gwangyang. Rusal produces aluminium in Russia and accounts for 6% of global...