AM Investco, the consortium led by ArcelorMittal that was put together to purchase Italian steelmaker Ilva, is pulling out of the deal, ArcelorMittal said on November 4.
Shanghai-bonded copper stocks continued to fall in October, but the decline was slower than in September due to the relatively limited amount of metal available, wide arbitrage losses and fewer working days last month.
Tightness was beginning to show in the European market for ferro-silicon in the week ended Friday November 1, but prices in China held steady despite lower interest among potential buyers, and the US market remained flat.
The seaborne low-grade manganese ore price in China continued to drop in the week ended November 1, but buyers re-entered the market, which producers took as a signal the market may be approaching its bottom after weeks of heavy falls.
The UG2 chrome ore index slid again in China after poor demand prompted suppliers to lower their offers in the week to November 1, while falling ferro-chrome supply in Europe helped the regional high-carbon market edge up by 0.6%.