Abu Dhabi’s IRH Will Invest $1.1 Billion in the Mopani Copper Mine.
Amid growing concerns about future supplies, International Resources Holding RSC Ltd., (IRH) of Abu Dhabi’s plans to invest over $1 billion in Zambia’s Mopani copper mine, securing access to a critical metal for the energy transition. On Nov. 30, the group was declared the winner of a protracted process to invest in a government-owned mine.
China will continue to impose 40% export taxes on ferrous and stainless steel scrap, In 2024
In 2024, China will maintain 40% export taxes on ferrous scrap or stainless steel scrap. The Chinese Taxes Adjustment Plan for 2024, which was just released, states that the 40% export duties on ferrous or stainless steel scrap will still be in place. There are currently 107 goods on the Chinese government’s annual list that
copper prices four-month high due to strong Chinese imports
Copper prices rose to their highest level in over 4 and a half months on Wednesday. Owing to restocking in China and stronger physical demand. After reaching $8,665, the highest level since August 4. 3-month copper on LME was barely moved at $8,591 per metric tonne by 1200 GMT. On the New York Comex market, copper
Tokyo Steel maintains January product prices for 6th consecutive month
Japan’s largest producer of steel using an electric arc furnace, Tokyo Steel Manufacturing Co Ltd., announced on Monday that it will maintain the same prices for its steel products in January, citing a slowdown in domestic demand in certain manufacturing and construction industries. For a sixth month, the company will continue to charge the prices
Coal India increases coking coal output by 12.15% from April to November.
According to a company statement released on Monday, December 18. The state-run Indian company Coal India Limited (CIL). Which is the only domestic supplier of coking coal, produced 35.97 million metric tonnes during the April–November period of the fiscal year 2023–24. A 12 percent increase over the same period the previous year. As domestic steelmakers’
London Copper is Stable, as Expectations of Lower Us Interest Rates Next Year Weighed on the Dollar
London copper prices (LME) were steady on Friday after a big jump the prior session as anticipates of decrease the United States (US) rates of interest next year weighed on the dollar. By 02:42 GMT, the most traded January copper agreement on the SHFE SCFcv1 increased 1% to 68,740 yuan ($9,656.53) per metric tonne. While the 3-month
Vietnam’s steel production declined in January through November.
The Vietnam Steel Association (VSA) reports that Vietnam’s finished steel production in the nation reached 2.45 million mt in November of this year, up 2.8 percent from the prior month and 34.3 percent from November 2022. Sales of steel products in the nation raised to 2.53 million mt in November of this year, up 30.1
Copper Cathode Exports From China in October Were 16,200 Mt
October exports of copper cathode from China were 16,200 metric tonne, a decrease of 11.06% from the previous month and a rise of 73.95% from the previous year. With an increase of 18.35% year over year, the total volume of exports from Jan to Oct was 251,700 metric tonne. Following the National Day holidays, the import window
Petra Diamonds that a non-binding agreement to sale Koffiefontein mine.
Petra Diamonds (LON:PDL), based in South Africa, announced on Wednesday that it has reached a non-binding agreement to sell its struggling Koffiefontein diamonds mine to an undisclosed party. Since April 2022, the diamond miner—which remained silent regarding the conditions of the possible sale—has been considering its options for selling Koffiefontein diamonds. The operation was put
Iron ore prices rise once again, driven by renewed hopes for Chinese stimulus
Iron ore prices rose on Tuesday as anticipates for additional stimulus from Chinese (China) policymakers resurfaced. Benchmark 62 percent Fe fines imported into Northern China increased by 0.37 percent to $137.60 per tonne. After falling 0.37 percent the day before, the most traded May iron ore prices agreement on China’s Dalian Commodity Exchange ended the