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.