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Zinc: low stocks and the only metal currently in backwardation
Three-month zinc prices on the London Metal Exchange are trading at a strong premium to cash prices (backwardation situation - cash prices>3-month prices), due to buying fuelled by nervousness about availability in the LME as stocks have reached record lows....
Steel: South-Eastern Europe production decreases in 2022
South Eastern Europe's (SEE) crude steel production decreased in 2022, according to the latest Worldsteel data. Regional production was 7.38 million tonnes, down 34.7 per cent year-on-year. In 2021, SEE production was 8.36m tonnes, up 37.5% year-on-year. Romania was...
EU construction production: EUROFER revises growth forecast downwards
According to the first-quarter Economy and Steel Markets Outlook 2023-2024/2023 report published by the European Association of Steel Producers (EUROFER), EU construction output increased by only 2 per cent in the third quarter of last year, after an increase of 6.5...
Latin American steel industry: Alacero predicts recovery
Alacero, the Latin American Steel Association, said that the recovery in the steel industry expected last year will be realised this year. Stating that factors such as the pandemic and Russia's invasion of Ukraine have delayed the recovery, Alacero said challenges...