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Crude steel: US production up 0.5%
According to data released by the American Iron and Steel Institute, US crude steel production for the week ending 11 February 2023 was 1,509,555 tonnes, up 0.5% from the previous week and down 5.2% year-on-year. In the week ended 11 February, the capacity utilisation...
Copper: prices rebound as dollar weakens
Copper prices are rebounding on the back of a weakening dollar and investors' hopes that US data will show falling inflation. Three-month copper on the London Metal Exchange stood at $8,964/mt, in line with yesterday's close, but up 1.11 percent from Friday's close....
Steel: China’s imports of finished products fall by 25.9%
As He Wenbo, CEO of the China Iron and Steel Association (CISA), said at the sixth CISA General Assembly held in Beijing on 13 February, China's finished steel imports in 2022 fell 25.9 per cent year-on-year to 10.57 million tonnes, the lowest level since 1993. In...
Metals: Shanghai warehouses downgrade high expectations
The London Metal Exchange (LME) base metals index jumped 10 per cent in January on investor bets on the recovery of the Chinese economy. China remains the engine room of global manufacturing, but two years of the COVID-19 freeze have mitigated its usual impact on...