The two contracts have gained momentum on high volatility in the physical market that attracted greater futures interest.

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

The daily trading volume on the LME, inclusive of the liquidity window, totaled 16,930 mt on Nov. 1 and 33,430 mt on Nov 2.

Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year.

Last November in Glasgow, the world’s climate leaders were locked in a fierce debate over whether the final draft of the summit’s agreement should include a pledge to “phase-out” or “phase-down” coal.

Technology Metals Australia enhances MTMP with 26% increase in measured and indicated resources

Although Brazilian miner Vale is focusing on cost control in response to the global economic slowdown, it also advances key projects.