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Freight Up 50%, Mills Won’t Pay: Brazil’s Small Miners Squeezed From Both Ends, So Why Won’t Vale Cut?

On 29 September, CSN Mineração issued a material fact announcing a temporary cut in iron ore output at the dry processing plant of its Pires Complex in Ouro Preto, Minas Gerais, citing current market…

  • Brazil's small miners face higher freight costs and lower ore prices.
  • Freight rates peaked at USD 43.38/t on September 23 due to Middle East conflict.
  • Steel mills experience negative margins due to tight coking coal supply.

Copper Rises Amid Supply Disruptions

Copper futures climbed toward $6.60 per pound on Thursday, recovering from the previous session’s losses as supply disruptions in top producer Chile lent support to prices.

  • Copper prices hit near $6.60 per pound amid supply disruptions
  • Chilean unions' strike threatens Antofagasta's production
  • US tariff uncertainty influences copper market dynamics

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