Corey Aunger

Recent volatility in London Metal Exchange (LME) copper prices that saw the benchmark three-month contract briefly move below $9,000/t have signalled the red metal's vulnerability to wider macroeconomic sentiment and currency movement independent of physical fundamentals, and left fourth-quarter price direction less certain than previous quarters.

Europe's zinc smelting output has been squeezed further by cuts to capacity caused by high energy prices that are likely to further weigh on output and lift zinc prices higher heading into the autumn.

Global metals recycler Sims has agreed the sale of its UK metal business to Unimetals Group for £195mn ($248.8mn), the company announced in an ASX filing.

European steel producers association Eurofer continues to lobby the European Commission to curb scrap exports as the industry looks to decarbonise.

A collision at a lock gate in the river Moselle near the German-Luxembourg border will have a limited impact on nearby steelmaker ArcelorMittal, the company said, despite ship transportation likely to be disrupted for months.