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Industrial metals are supported by weakening dollar ahead of U.S. jobs report
Copper and most other base metals continued to find support in the weakening U.S. dollar Friday amid expectations of a slowdown in July job growth in the United States ahead of a much-anticipated jobs report later in the day. Copper prices posted a three-day loss...
Steel: Nippon Steel forecasts 6 percent drop in earnings beating market estimates
Japan's leading steel producer, Nippon Steel Corp, forecast Thursday a 6 percent drop in annual net profit due to lower production, a much smaller decline than analysts' expectations, who said they were confident that they would be able to pass on the cost increase to...
Coal: Glencore’s profits double thanks to soaring prices
Glencore, a mining and commodities operator, on Thursday reported record profits of $18.9 billion in the first half of 2022, doubling last year's figure thanks to a boom in thermal coal. Unlike rivals including Anglo American, Rio Tinto, and BHP, which have bowed to...
Cast iron and steel: Chinese production will mark a modest rebound in early August
China's daily production of pig iron and crude steel may see a modest rebound in early August, following July's decline, thanks to some steel mills' increased output due to the recent improvement in profit margins. However, most steel mills are wary of the margin...