In the March 2020 incident water containing molybdenum ore flowed out of a tailings pond belonging to Yichun Luming Mining Co and into a local river system.
Macro headwinds in the form of slowing growth impetus in China and the spread of the Delta variant of covid-19 are currently outweighing copper’s micro-dynamics.
Construction began on 15 gigawatts of new coal power capacity in the first half, while companies announced 35 million tonnes of new coal-based steel-making capacity.
As steel production restrictions have begun and on signs of slowing Chinese economic activity, spot iron ore prices hit a more than four-month low this week.