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Copper: price rebounds on hopes of slowing rate hike and Chinese stimulus
Copper prices rose to three-week highs Thursday on investor expectations of a slowdown in U.S. interest rate hikes and improved demand from China's top consumer. The Fed raised rates by 0.75 percent on Wednesday, but comments by Chairman Jerome Powell raised hopes for...
Aluminum: despite falling prices, Chinese production remains high
Falling aluminum prices, which have squeezed producers' profit margins in recent months, will do little to slow production in China, given the high cost of downtime and hopes for increased foreign demand. The steady supply expected from China, the world's largest...
Steel: German distributors’ sales in June fell 8 percent year-on-year
Steel sales by German distributors in June fell 8 percent from the previous month to a six-month low of 800,867 tons, down 15 percent from a year earlier. The 11 percent decline from the January-May average of 902,000 tons was attributed to economic uncertainty. Flat...
Aluminum: Kaiser looks to production recovery in fourth quarter
Kaiser Aluminum has taken steps to potentially restore normal shipments of aluminum sheet from its Warrick, Indiana, mill by the start of the fourth quarter, after issuing a force majeure clause to customers earlier this month. The company warned that deliveries from...