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Copper: prices rebound on demand outlook ahead of Chinese data
Copper prices rebounded on Wednesday ahead of the release of China's economic data, with a good demand outlook and long-term supply concerns supporting the market. Three-month copper on the London Metal Exchange (LME) was gaining 1.16 per cent to $8,052 per tonne as...
Iron ore: Rio Tinto cuts production estimates in Canada due to prolonged plant outage
Rio Tinto reported quarterly production increases in its copper and aluminium portfolios on Tuesday, sending its shares up 3%, even as the company cut its annual estimates for Canadian iron ore due to operational outages. The world's largest iron ore producer expects...
Automotive: US auto industry strike continues to hit Mexico
The United Auto Workers (UAW) union strike in the US at six General Motors, Ford and Stellantis plants impacts the Mexican auto parts industry by $600m in five weeks (read more here). The National Chamber of the Auto Parts Industry (INA) sought to mitigate the impact...
Egyptalum extends tender time for aluminium smelter expansion
The state-controlled Egyptian Aluminium Company (Egyptalum) has announced that it will extend the deadline for submitting bids for its smelter expansion project by one month. According to a statement released by the company to the Egyptian stock exchange on Sunday,...