Metal trader misery undercuts supercycle hype as losses pile up

Prices of zinc, aluminum have fallen from their peaks by over 15% in 2022 from a year earlier.

French President Emmanuel Macron called for an EU package amounting to 2% of its economic output to rival the $370 billion US plan.

Europe's energy crisis has taken a heavy toll on a notoriously power-hungry sector.

Potanin was placed on a US sanctions list as part of wider measures targeting people close to Vladimir Putin.

In its quarterly report, South32 met coal, aluminum, and copper forecasts and slightly exceeded analyst estimates for manganese ore production.

Nornickel has proposed slashing its annual dividend for 2022 to $1.5 billion from the $6.3 billion paid out for 2021.

Estimated Chinese production was 3.47 million tonnes in December.

Volumes have fallen every month year-on-year since the suspension of nickel trading and the decision to cancel trades.

The largest US aluminum producer expects to ship between 2.5 million and 2.6 million tonnes this year.