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Copper: Marubeni reaches agreement on projects in Chile
Marubeni Corporation has reached an agreement with JX Metals Corporation to acquire an additional 3.27% interest in the Los Pelambres copper mine in the Republic of Chile and a 20.0% stake in Pan Pacific Copper Co. (PPC), owned by JX Metals. Los Pelambres, jointly...
Aluminium and steel: Brussels and Washington extend trade truce
On 19 December 2023, the European Union (EU) extended the trade truce with the United States (US) for another 15 months. This extension avoids the automatic imposition of tariffs on transatlantic trade worth billions of euros, which would otherwise come into effect on...
Stainless steel: US market remains bearish
Nickel prices remained in a steep decline throughout November, reaching their lowest level since April 2021. Although prices appeared to stabilise during the first half of December, the nickel market proved to be the worst-performing base metal, falling about 45%...
Copper: speculators less negative on the metal thanks to a change in the supply landscape
Funds have reduced their bets on a decline in copper prices as macroeconomic headwinds ease and the market collectively reassesses copper's supply dynamics. The shift in positioning has been underway since late October, when three-month LME copper was threatening to...