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Bauxite: SMHL suspends mining operations in Sierra Leone
On 10 January 2023, Sierra Mineral Holdings 1 Limited, a subsidiary of Vimetco N.V., issued a note stating that it would temporarily suspend all operations in Sierra Leone. The note stated that the suspension was due to the lack of bauxite sales in the global market,...
Copper: unrest in Peru threatens to block almost 2% of global supply
Protests in Peru threaten to block access to nearly $4 billion of copper, just as China is pulling out of the Covid blockade and promising to increase demand. Peru's third largest copper mine, Las Bambas, has not shipped copper concentrate since 3 January due to...
Pig iron: Ukraine’s exports up 24.4% in December
Despite the Russian invasion of Ukraine and its negative impact on steel production, pig iron exports by Ukrainian steel mills increased by 24.4% m/m to 97,450 tonnes in December last year, while the value of these exports increased by 26.6% m/m to $36.08m. The volume...
HRC steel: limited availability and improved purchasing support price increase
North European hot rolled coil (HRC) prices increased on Wednesday 18 January due to restocking activity and limited availability, but market sources questioned the feasibility of further increases. Although apparent demand for HRC is increasing due to replenishment...