For 2014, Alcoa is forecasting a 7% increase in global demand for aluminium as well as a supply shortfall of 930 000 tonnes, which compares to the deficit of 730 000 tonnes projected by the company earlier in the year.

Casting producing nations produced a combined 15.4 million tons in 2012, the year of the most recent census, compared to 15.9 million tons in 2011.

Falls in the prices of iron ore and coal helped Chinese steelmakers to gain better profits for the first half even though the domestic industry still faces a serious overcapacity problem, experts said.

LME nickel price reached to the bottom and has been bouncing back already.

The spot price of iron ore fines 62% to China has increased slightly.

It is reported that the Ministry of Trade, Industry and Energy (MOTIE) said that South Korea’s Posco and China’s Chongqing iron and steel (CISC) have signed memorandum of understanding on a US$3.3 billion investment.

The spot price of iron ore fines 62% to China has dropped.

China’s steelmakers have suffered severe losses. Along with banks string loaning services, in the first 5 months of 2014, the major steel mills’ profit were detracted from the downturn compare to last year.