China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
A rebound in lithium exports from the No. 2 supplier Chile offers some relief for the nation’s two producers, SQM and Albemarle Corp., which have been hit by slumping prices.
Revenue from Chilean lithium shipments jumped 18% in August versus July, according to data released Thursday by the central bank.
That’s despite an acceleration in global price declines as economic weakness in China undermines sentiment for electric-vehicle demand.
While Chile’s exports in August are still a far cry from levels seen last year when the market tightened, they may help alleviate some investor concern and explain why SQM and Albermarle remain upbeat on demand projections.
(By James Attwood)
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