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Markets seem to be anticipating a Democratic win in the Georgia Senate run-off this morning, Wednesday January 6, and that could be bullish for commodities because a Democratic-controlled US Congress could push through larger fiscal stimulus packages.
Hot-rolled coil prices in the United States retreated after opening the year at their highest level since August 2008, with buyers bracing for more price increases due to strong automotive-related demand and soaring ferrous scrap costs.
The American steel industry isn’t happy with recent changes to the way the United States Commerce Department administers the Section 232 tariff exclusion process.
Chilean copper producer Codelco is to go ahead with the $1.38-billion Rajo Inca expansion project at its Salvador mine, the state-owned company said on Tuesday January 5.
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