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Metals: European and U.S. demand has become the driver of prices
According to Jeremy Weir, executive chairman of Trafigura, demand from Europe and the United States has become a key driver for global metals prices, along with that of China, as increased electrification in these regions increases the appetite for metals. Weir said...
Copper: Glencore will sell Australian mine to SPAC for $1.1 billion
Glencore said Wednesday that Metal Acquisition Corp (MAC) has agreed to a deal to purchase the global miner's Cobar copper mine in Australia in a deal valued at $1.1 billion. Glencore reported that the terms provide for the receipt $1.1 billion, as originally agreed...
Copper: BHP tries to avoid strike at Escondida mine in Chile
BHP has reached an agreement with unionized workers at its Escondida copper mine in Chile, the world's largest, in an attempt to avoid a strike scheduled for Nov. 21-23. The agreement with Sindicato 1, which represents more than 2,000 workers, has yet to be approved...
Ferrous scrap: the Turkish market remains cautious
Following the rebound in scrap prices imported from Turkey last week, Turkish steel mills have increased bids for semi-finished and finished steel. Although the increase in bids since Friday has accelerated steel sales to some extent, as steel buyers are starting to...