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A diversified portfolio may well prove to be a winning ticket for metals and mining companies during the Covid-19 pandemic, according to the former chief executive officer of Rio Tinto.
The stainless sector in the United States and Europe, Middle East and Africa (EMEA) region will consume 13% less nickel this year, while that in China will fall by just 4% versus 2019, according to Nornickel.
Steady demand from China continued to prop up prices in Southeast Asia’s steel billet market over the past week, sources told Fastmarkets on May 15.
Fastmarkets’ Shanghai benchmark copper premium surged to its highest level since September 2015 on May 15, with traders looking for overseas material to tap arbitrage gains. sources said.
The Covid-19 pandemic is likely to lead to another casualty: the mega mine.