Moody’s Investors Service forecasts the global metals and mining industry’s earnings will increase by about 30% through the first quarter of 2022 on the back of economic recovery, as well as rising demand and tight supplies for steel, iron-ore and copper.

EU steelmakers have restarted nearly half the blast furnaces that were idled in the financial crisis, according to a leading industry player, holding back recovery in a sector already hobbled by over-capacity and high energy costs.

For 2014, Alcoa is forecasting a 7% increase in global demand for aluminium as well as a supply shortfall of 930 000 tonnes, which compares to the deficit of 730 000 tonnes projected by the company earlier in the year.

It is reported that the Ministry of Trade, Industry and Energy (MOTIE) said that South Korea’s Posco and China’s Chongqing iron and steel (CISC) have signed memorandum of understanding on a US$3.3 billion investment.

The LME's three-month copper contract on Friday was down 0.1 per cent at $US6,945 a metric ton at the PM kerb close. The metal earlier rose to $US6,983.75 a metric ton, its highest price since March 7.

Taking positive cues from global markets and bette

The most-traded copper contract for delivery in Ap

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