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Steel: China’s demand outlook for 2024 is optimistic
According to Yuan Wenjiong, CEO of Dao Fortune, the outlook for steel 2024 is better due to the slight recovery of steel demand in China. China's real estate sector, which has been the main support for steel demand in previous years, is declining and this trend is...
Thyssenkrupp records $2.3 billion write-down on steel division
Germany's Thyssenkrupp on Wednesday announced a €2.1 billion ($2.3 billion) write-down on its steel unit due to a "gloomy" outlook, highlighting the difficulty of winning over Czech energy group EPH as co-owner of the business. As a result of the write-down,...
Copper: Codelco to spend USD 720 million on Chuquicamata mine
Chile's Codelco, the world's leading copper producer, plans to invest an additional $720m to renovate the 100-year-old Chuquicamata copper mine in an attempt to halt the company's overall production decline. The company has already spent $5.7bn to convert the open-pit...
Crude steel: production in Germany fell by 4.1% in January-October
According to data released by the German steel federation Wirtschaftsvereinigung Stahl (WV Stahl), Germany's crude steel production amounted to 2.88mn tons in October this year, down 8.8% year-on-year. In the period from January to October this year, the country's...