For the safety of its workers, Cerro Matoso, “said it has temporarily shut its mine after two weeks of protests by indigenous groups, halting 4 percent of world output,” reports Reuters.
“The impact of the stoppage on the nickel market is likely to be subdued amid a global surplus of nickel that has caused prices to tumble about a quarter in the last year but adds to near-constant disruption in Colombia’s mining sector this year.”
Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India were range bound. The price of Chinese slab fell 0.6 percent over the past week. This was the third week in a row of declining prices. The price of Chinese HRC did not change since the previous week. The week finished with no movement for Chinese coking coal.
Finishing the fourth week of rising prices, the cash price of steel billet increased by 0.2 percent on the LME, finishing at $210.00 per metric ton. This past week, the 3-month price of steel billet kept quiet, holding at on the LME at $235.00 per metric ton.
Korean steel prices were flat for the week. Korean steel scrap traded sideways last week. Prices for Korean pig iron remained constant.
The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.
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Protests Close BHP Billiton’s Cerro Matoso
Published 10/10/2013, 11:52 AM
Updated 07/09/2023, 06:31 AM
Protests Close BHP Billiton’s Cerro Matoso
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