Column: China’s renewed appetite for Australian coal disrupts Asia flows

In nickel, global smelting activity fell in October, largely due to weakness in nickel pig iron output in China.

The Canadian government ordered Chinese companies to divest their holdings in junior mining companies planning to develop lithium deposits.

China’s steel industry has been warning of a crisis since the summer, and the third quarter saw major mills turn in their first aggregate loss since at least 2018.

Central banks bought 399 tonnes of bullion in the third quarter, almost double the previous record, according to the World Gold Council.

The move follows updated guidelines from Canada’s government, released Friday, which make it harder for foreign state-owned companies to pursue deals that target critical minerals.

Zimbabwe usually reserves the country’s coal output for domestic electricity generation, but started shipping the fuel last year.

The joint venture between China’s Tianqi and Australian miner IGO in May produced the nation’s first battery-grade lithium hydroxide at its refinery near Perth.

The mining industry has been weighed down this year since the Russian invasion of Ukraine by a supply bottleneck that sparked off inflation.

The head of the European Central Bank said further interest rises would come despite the rising probability of a euro zone recession.