In the latest US steel news, a WTO ruling has sparked a new war of words between the United States and China. Last weekend, the WTO finally ruled on the 25% taxes on global steel imports and 10% import tariffs on aluminum imposed under former US President Donald Trump. The WTO dispute settlement panel ruled […]
Sohrab Darabshaw
Iron Ore Futures to Rise as China Eases zero-COVID
China’s steady easing of COVID-19 restrictions finally allowed the beleaguered economy to begin reopening. Many experts expect a renewed demand for steel, which means an increased appetite for steel-making raw materials such as iron ore. Both analysts and traders believe the lifting the restrictions was a step in the right direction. This current positivity is […]
Despite Mine Expansion, Copper Price Outlook Still Bearish
Let’s begin with the good news first. Global copper mine capacity rose nearly 5% to 20.38 million tons (MT) between January and September of 2022. According to a report by the International Copper Study Group (ICSG), this was mainly due to the additional production at new or expanded mines. That said, global demand for the […]
India Revokes Export Duties on Steel and Iron Ore
The Indian Government recently decided to scrap export duties on steel products and iron ore. The domestic industry has thus far hailed the move, but some worry it may not boost exports in the short term. The export tax on iron ore lumps, fines, and pellets is now gone. Last Saturday, India officially scrapped an […]
Metal Markets Respond Positively as China Relaxes Zero-COVID Measures
It may be winter, but it feels like springtime for many in the metal industry and on metal prices in general. After years, China plans to ease up just a wee bit on its COVID-19 restrictions. This includes a reduction in the mandatory quarantine period, which has caused myriad problems for the country’s economy. As […]
Canada Prohibits Chinese Investments in Lithium, Nickel, and Cobalt Sectors
Canada has a new foreign investment rule that is sure to send ripples through the mineral and metal mining sector. Indeed, the country recently requested that China immediately sell its holdings in three Canadian mining companies. According to media reports, national security is the primary reason for the new order. Indeed, the decision followed a […]
Pressure Increases on the LME to Ban Russian Metal
According to the latest metal news, the London Metal Exchange (LME) is in a quandary over how to handle metal supply from “sanctioned” Russia. Their frustrations continue to be enhanced by the fact that some nations, led by China, remain interested in buying up Russian stock. Following Russia’s invasion of Ukraine, formal and voluntary sanctions […]
The Robust US Dollar Puts a Damper on the Gold Price Trends in India
October to December is always an interesting quarter in India, especially regarding gold and silver prices and their associated demand. For several reasons, this October is proving to be a less-than-ideal month for gold dealers around the subcontinent. So far, the gold price trend continues to decline when compared to the previous months. India is […]
Iron Ore Demand Remains Strong, But Will It Last?
Concern over China’s economy notwithstanding, iron ore remained relatively stable in September and October. This is of note because historically, these months are one of China’s highest peak demand periods. That said, whether the iron ore price will continue to weather the economic storm remains a point of intense debate. The Many Factors Affecting the […]
Chinese Steel Manufacturing Profitability Down 20%
Is it all doom and gloom for Chinese steel manufacturing? It’s hard to tell at the moment. Indeed, China finds itself in a precarious place financially. What’s more, a sizable section of global financial and stock analysts have predicted the crises will only get worse as the country prepares to face its toughest winter yet. […]
