Syrah cuts as weaker yuan hurts commodity prices
Peter KerResources reporter
Australian miners may find their Chinese customers have reduced buying power on the back of a weakening Chinese currency, after Syrah Resources nominated currency depreciation as a factor driving down prices for its graphite.
The ''sudden and material'' slump in graphite prices prompted ASX-listed Syrah to take dramatic action on Tuesday, slashing production at its Balama mine in Mozambique by 66 per cent.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
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