A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.
Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums in Asia and the United States were static.
Mexican steel scrap prices changed little in the week ended Friday January 24, with market participants waiting to see a clearer definition of the international price trend.
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country’s copper commission Cochilco announced.
Demand for seaborne iron ore concentrate weakened ahead of a week-long public holiday in China for the Chinese New Year with mills in the country likely to have built up their inventories well in advance, while that for pellets was stronger due to last-minute restocking.