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Canada-based Lundin Mining Corp is to suspend operations at its Candelaria copper mine in Chile after mediation talks with a second union at the site failed to result in an agreement .
The London Metal Exchange three-month zinc price was the standout performer during morning trading on Monday October 19, with the price rallying by more than 2% on positive Chinese economic data and strong buying momentum, while queue and logistics concerns at Port Klang, Malaysia, resulted in some 38,000 tonnes of aluminium being placed back on-warrant in the region.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly firmer this morning, Monday October 19, supported by economic data out of China, especially the 6.9% rise in industrial production, but gross domestic production (GDP) data came in lower than expected.
Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half of the month amid recovering demand, top executives said on Friday October 16.
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