IN CASE YOU MISSED IT: 5 key stories from November 27

Here are five Fastmarkets MB stories you might have missed on Wednesday November 27 that are worth another look.

Brazilian steelmaker Gerdau has agreed to buy 96.4% of Siderúrgica Latino-Americana (Silat) shares from Spanish group Hierros Añón for $110.8 million, in a shift from its divestment strategy of the past four years.

Shifting London Metal Exchange zinc and lead prices have dictated premiums this past week, overriding fundamental shortages from key suppliers.

Miner-trader Glencore suspended operations at its Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) early this week - a month earlier than previously expected.

The London Metal Exchange’s cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets’ index, has seen a flurry of activity on the January 2020 prompt date.

Nickel premiums have fallen in the United States over the past week on a year-end push for sales while rates in China are mixed and those in Europe are flat.

What to read next
The Inflation Reduction Act in the United States may ironically cause global metal market prices to rise for some metals used in electric vehicles (EVs), Fastmarkets sources said
An alarming drop in water levels in Germany’s Rhine River and other key waterways in Europe has led to massively strained logistics in shipping commodities across Europe, driving up costs and exacerbating material supply, sources told Fastmarkets
Fastmarkets is proposing a realignment of its dealer selling price for ferrous scrap machine shop turnings in Houston, effective from the September 2022 monthly settlement.
Participants in the US steel market were divided on the impact of a price increase from Nucor’s sheet mill group this week, with some suggesting hot-rolled coil prices could fall further while others were optimistic that announcement could halt - or even reverse — the recent downtrend
Chromite prices rose further in the two weeks to Tuesday May 31 on support from cost pressures and logistical issues in South Africa
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
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