Nyrstar said it plans to temporarily close two zinc mines in the U.S. state of Tennessee at the end of November due to weak prices and the impact of inflation, a third shutdown of zinc operations by producers in recent months.
Copper prices are expected to mount a modest recovery next year as burgeoning demand from the energy transition offsets global economic weakness and healthy mine supply, a Reuters poll showed.
India's financial crime agency has seized properties worth 5.38 billion rupees (nearly $65 million) as part of its probe into money laundering allegations against the now-defunct Jet Airways and founder Naresh Goyal, the agency said on Wednesday.
Arabica coffee futures on ICE were lower on Wednesday, giving up some of the prior session's steep gains, while London cocoa prices fell further from a record peak set earlier this week.
Russian agricultural consultancy Sovecon has lowered its forecast for Russia's 2023/24 wheat exports to 48.8 million metric tons (mmt) from 49.2 mmt, it said on Wednesday.
Nyrstar said it plans to temporarily close two zinc mines in the U.S. state of Tennessee at the end of November due to weak prices and the impact of inflation.
The opinions expressed here are those of the author, a columnist for Reuters. Mining companies in the West are facing two overarching challenges in trying to produce enough metals to enable the energy transition, and at the same time build alternative supply chains to lessen their dependence on China.
Chicago wheat futures rose on Wednesday, with a recent decline in prices expected to boost demand, although strong exports from Russia continued to keep a lid on the market.
Copper prices were steady on Wednesday despite weak manufacturing data from China as cautious investors pared back positions amid an uncertain outlook.
Canada Goose Holdings cut its annual sales forecast on Wednesday, in a sign that a sharp rebound in China was starting to falter and sales in the U.S. stayed under pressure.
Air Asia parent Capital A Berhad on Wednesday said it plans to list on the Nasdaq by entering into a deal with a special purpose acquisition company Aetherium Acquisition Corp.
Thailand still expects rice exports at 8 million metric tons this year, helped by increased global demand and a weak baht, a government official said on Wednesday.
Malaysian palm oil futures gained at the close on Wednesday amid stronger crude oil prices and strength on the Dalian, though concerns over rising stockpiles capped gains.
South Korea's state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 177,000 metric tons of rice, largely from the United States, European traders said on Wednesday.
South Korea’s state-backed Agro-Fisheries & Food Trade Corp. has issued an international tender to purchase an estimated 177,000 metric tons of rice largely to be used from the United States, European traders said on Wednesday.
For the first time in eight years, India's rice output is expected to drop this year, raising the prospect that Prime Minister Narendra Modi's government will extend curbs on exports of the grain to keep a lid on food prices ahead of elections.
Reuters
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