New supply from China and Indonesia is about to hit the market, according to Macquarie Group.

The group left its overall 2023 guidance for copper unchanged at 1.04 million metric tons, even as production fell by 10%.

While there are no sanctions on Russian metal, consumers are ignoring aluminium produced by Rusal, which accounts for 6% of global supplies.

The ISA cut a livestream of its members negotiations and retreated behind closed doors in an attempt to resolve a dilemma the could determine the fate of the deep ocean.

The exchange has approved nickel produced by a subsidiary of China's Zhejiang Huayou Cobalt.

As of 2020, it was producing around 40% of Russian copper.