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Nickel: hedge fund Elliott and Jane Street authorized to sue LME
A London court has decided to authorize Elliott Investment Management and Jane Street to sue the London Metal Exchange for its handling of a controversial short squeeze on the nickel market in March. The two firms filed a so-called judicial review of LME shares in...
Aluminum: LME’s plans to deal with Russian metals trade seen as supporting China
The London Metal Exchange's plan to restrict Russian-origin metal from entering its warehouses could be a turning point for Chinese aluminum prices, along with support from the domestic production situation and production cuts. Chinese aluminum prices are expected to...
Steel: prices flatten and fall slowly
As steel prices continue their slow descent, one steel producer seems eager to reduce capacity. In early September, U.S. Steel halted its 1.5 million short tons per year blast furnace, with no planned restart date. The company attributed the decision to "high import...
European auto industry calls for urgent policy action
The European auto industry is calling for urgent policy action to enable the EU car market to recover. Trade association ACEA said Friday that it has revised its initial forecast that the EU new car market would return to growth in 2022. It now expects sales to...