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Nickel: huge supply shortage expected due to booming Indonesian production
The nickel market will face a massive oversupply this year due to booming Indonesian production, which continues to outstrip global demand. The International Nickel Study Group (INSG) forecasts a supply and demand surplus of 239,000 tonnes, the largest in at least a...
Aluminium: Norsk Hydro reports lower than expected first quarter profit
Norwegian aluminium producer Norsk Hydro reported on Friday, as expected, a sharp drop in underlying first-quarter profit, in line with falling metal prices. Adjusted earnings before interest, taxes, depreciation and amortisation fell to 7.5 billion kronor ($705.5...
Glencore declares takeover offer for Teck Resources still ongoing
Glencore Plc said on Thursday that its takeover offer for Teck Resources Ltd is still on track, after the Canadian miner scrapped a restructuring plan that would have ended it. The Swiss mining giant added that it was willing to engage with Teck's board to improve the...
Copper: Indonesia authorises Freeport and Amman Mineral to export the metal until 2024
Indonesia will allow miners Freeport Indonesia and Amman Mineral Nusa Tenggara to continue exporting copper concentrate until next year, despite a ban that will come into effect in June, as they complete the construction of smelters. In June, the government will ban...