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Related Special Reports
...Unions have been balloting members over industrial action about the proposed cuts, with Unite voting in favour last week....
...An index tracking the performance of six industrial metals on the London Metal Exchange has climbed 8 per cent since the start of 2024, outpacing a 6.3 per cent rise for MSCI’s index of worldwide stocks....
...Prices of these industrial metals have fallen sharply in the past couple of years. In its full-year results on Thursday, the miner said it would rethink its portfolio....
...“It’s only Russian metal there, they can’t receive it — then you risk having real volatility in your prices.”...
Pedal to the metal, balls to the wall, margins to the floor
...posted its biggest intraday gain since at least 1987 and nickel and copper prices also rose after the UK and US introduced sanctions that in effect ban the trading of new Russian supplies of the vital industrial...
...The Potanin interview comes just after the US and UK took their biggest step yet to impose sanctions on Russian metals by banning copper, nickel and aluminium from being traded on the London Metal Exchange...
...The cobalt market malaise mirrors the dire situation for other key battery metals lithium and nickel....
...“A combination of extraordinary growth in demand for metals, the need to reduce industrial emissions and elevated energy security concerns will all underpin a prolonged surge in investment in recycled metal...
...Like other battery metals, it is suffering from supply growth — 17 per cent in 2023....
...Thyssenkrupp has been struggling for more than a decade to reduce its reliance on steel and switch to other industrial products....
...The project has yet to conduct a pre-feasibility study, which provides early estimates of project costs and how economically the metal can be extracted....
...Australia’s Wyloo Metals is shutting down nickel mines in Western Australia, while BHP has said it is considering the closure of some nickel operations....
...Global mining companies have called for a green premium for sustainably produced nickel traded on the London Metal Exchange, as a flood of allegedly “dirty” supplies from Indonesia squeezes profits for producers...
...Imports of the transitional metal used for construction steel rose in 2023 compared to the previous year....
...Alun Davies, Community’s national officer for steel, urged members to back industrial action in its month-long ballot....
Chinese consumer shift to smaller battery cars that need less of the metal is also expected to cut usage
...area for industrial mining....
...But this is a turning point, too, in UK industrial history....
...Looking forward to 2024, analysts say that industrial metals are likely to remain in a tug of war between China’s economy and the rest of the world....
...That scandal came to light just months after police raided the company in June over a separate case of missing metals worth more than €20mn....
...In Germany, it emits more than a quarter of the country’s total industrial carbon dioxide....
...The metal is currently having a horrible time, down almost a quarter since the start of the year to $104 per tonne. China’s overbuilt and faltering property sector does not help sentiment....
...Chinese producers are often integrated with industrial activities or receive state-backed financing, enabling them to power ahead even in commodity downturns....
...“But in the same delivery, you will have boards like these,” said Kuhm, picking up something similar likely to have less precious metal....
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