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The imported scrap price from Turkey pending new agreements
Turkey's imported scrap trade is in a period of stability, as no agreements were reported last week. Buyers and suppliers are on hold as the market awaits more clarity. Traders have postponed their new bookings for March 2021 shipments. This week, the lira appreciated...
Copper price up as market deficit expected in 2nd half 2021
Copper prices rebounded on Wednesday despite concerns of weaker demand ahead of a big holiday in China, the world's top consumer. China will celebrate its Lunar New Year holiday from February 11-17, when demand for the metals usually dips due to a slowdown in trade...
Vale’s 4Q20 iron ore production lower than estimated
Vale reported 4Q20 production of 84.5Mt, below analysts' estimates, mainly due to higher rainfall and tailings disposal restrictions in Brazil's southeastern system. The number is down 5% from the third quarter (88.6Mt) but well above the same period last year...
Chinese New Year could increase steel consumption
The Chinese New Year is only a week away, taking place from 11 to 17 February, usually a sacred period for family unions. But unlike other years, this year migrant workers in China's major urban centres will be encouraged by the central government to stay where they...