Guinea seeks 33 pct stake in mining projects-Conde
Reuters.com reports that Guinea plans to hike its' interest in mining projects to 33
Reuters.com reports that Guinea plans to hike its' interest in mining projects to 33
Aluminum stockpiles have risen consistently this year amid the downturn in the auto sector; however recent evidence that the economy is improving combined with confidence in Chinese purchases have lifted aluminum demand.
The U.S. and the EU have both launched World Trade Organization complaints against China on the grounds that Beijing unfairly helps domestic makers of steel and aluminum, by blocking overseas exports of raw materials.
Despite the recent recovery in LME aluminum prices; demand for the stainless steel component remains in the dumps. Without any idea of when demand may stage a comeback, aluminum miners are bracing for more tough times.
Aluminum’s fundamentals remain dire, despite the upswing in Chinese Imports. Imports in the country are rising due to an arbitrage opportunity as Shanghai Futures Exchange aluminum is selling at a premium of $400-$500 per tonne on the London Metal Exchange.
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