Week in Review: Freeport-McMoRan’s AI Play, LME Reforms and India’s RCEP Decision
Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of: Freeport-McMoRan’s use of artificial intelligence (AI), U.S. steel production, aluminum prices, U.S. automotive sales, construction spending and India’s decision to back away from the proposed RCEP trade pact.
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- MetalMiner released its Monthly Metal Outlook for November.
- MetalMiner’s Stuart Burns on miner Freeport-McMoRan’s leveraging of AI at an Arizona copper mine.
- For the week ending Nov. 2, the U.S. steel sector posted a capacity utilization rate of 81.6%.
- The London Metal Exchange is enacting changes geared toward warehousing rules and reporting, which the exchange hopes will “offer the optimum combination of enhancements to encourage more stocks in to LME warehouses, provide greater transparency as to global levels of inventory, and bring market-wide positive effects.”
- U.S. automotive sales were forecast to fall by less than 1% in October.
- MetalMiner’s Belinda Fuller delved into aluminum market trends from the last month.
- Why have aluminum prices moved upward despite slumping demand? Investors may be struggling to read the fundamentals, Burns explained.
- U.S. construction spending fell 2% year over year in September, according to the U.S. Census Bureau.
- India has decided to back away from the proposed Regional Comprehensive Economic Partnership (RCEP), much to the relief of the country’s steel producers.
- Lynas Corp, the largest rare earths firm outside of China, has signed a memorandum of understanding with Malaysia’s MARA Corporation to, it says, attract downstream industries and customers to Malaysia.
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