SHANGHAI, May 23 (SMM) – China will slash import tariffs on certain vehicles to 15%, the Ministry of Finance (MOF) said on Tuesday May 22. Cuts will take effect on July 1.This includes the current 25% tariff levied on 135 items and the 20% duty on four items.Tariffs on 79 auto parts will fall to 6%, from current levels of 8-25%. Auto parts that will have lower import duti...Read More
SHANGHAI, May 23 (SMM) – Copper: Copper prices rebounded as the US dollar weakened overnight. LME copper touched a high of $6,999/mt as the inventory shrank 2,752 mt following days of increase. It is likely to trade at $6,930-7,030/mt today with strong support while the SHFE 1807 contract is to trade at 51,800-52,200 yuan/mt. Adequate supplies are likely to widen spot discounts to ...Read More
SHANGHAI, May 23 (SMM) – Copper: Copper prices rebounded as the US dollar weakened overnight. LME copper touched a high of $6,999/mt as the inventory shrank 2,752 mt following days of increase. It is likely to trade at $6,930-7,030/mt today with strong support while the SHFE 1807 contract is to trade at 51,800-52,200 yuan/mt. Adequate supplies are likely to widen spot discounts to ...Read More
Kathleen Hancock, associate professor of humanities, arts and social sciences, has been honored for her mentorship of women in the field of international political economy.The Society for Women in International Political Economy (SWIPE) Mentor Award was presented to Hancock at the International Studies Association's annual convention in San Francisco this April.In the early 1990s, SWIPE observed t...Read More
Bloomberg reported overnight that Rio was close to agreeing a sale of its stake to PT Indonesia Asahan Aluminium (Persero), known as Inalum, for US$3.5 billion, citing people familiar with the negotiations.Rio acknowledged the report and confirmed the discussions between it, Inalum and Grasberg operator Freeport McMoRan, including price talks."No agreement has been reached, and there is no certain...Read More
Prices for domestic hollow steel sections edged downward slightly in Northern Europe this week, with trade activity remaining thin, market sources told Metal Bulletin on Wednesday May 23.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe widened downward by ?,?5 per tonne to ?,?640-655 ($754-772) per tonne delivered on May...Read More
Marte Gutierrez, J.R. Paden Chair and Distinguished Professor of Civil and Environmental Engineering at Colorado School of Mines, was recently featured in an Wired article about Elon Musk's idea to build a network of high-speed transportation tunnels in Los Angeles.Gutierrez is also the director of the University Transportation Center for Underground Transportation Infrastructure (UTC-UTI), the U....Read More
"Our productivity is up by 80% in five years - that is each person is delivering 80% more production than they were five years ago," he told Mining Journal.Cutifani, 60, became Anglo's CEO in April 2013.He is one of the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" which will be released next month.Cutifani said the company me...Read More
"Perhaps one day BHP will be a division, and a small part of Apple as these technology companies - or the financial or consumer goods companies - continue to increase their market capitalisation and financial power," Lewis-Gray put to an audience that heard mining's regeneration (exploration and investment), innovation, social and government engagement, and product delivery models were being teste...Read More
Argentina's crude steel output grew by 26% year on year in April, according to figures released by the national steel association, Acero Argentino, on Tuesday May 22.The country produced 463,000 tonnes of crude steel last month, compared with 367,400 tonnes in the same period a year earlier.But April's output was down by 2.3% in comparison with the 473,900 tonnes produced in March.Steel consumptio...Read More
He said it was critical there was a safe and secure climate for investment, adherence to the rule of law and a clear signal to the world about the value of doing business in Mongolia. His speech comes after Mongolia's anti-corruption agency has made several high-profile arrests over an investigation into suspected misuse of power by officials during negotiations linked to Oyu Tolgoi contracts...Read More
A fire at United Stainless Steel Company's (USCO) stainless steel re-rolling mill in Salman Industrial City in Al Hidd, northern Bahrain, early on Tuesday May 22, has halted operations and could result in lost production, market sources told Metal Bulletin on Wednesday May 23.A fire at United Stainless Steel Company's (USCO) stainless steel re-rolling mill in Salman Industrial City in Al Hidd, nor...Read More
The European Commission (EC) will set a 25% safeguard duty on steel and aluminium imported from the US from June 20 this year if the EU is not exempted from Section 232 tariffs.The EC will only apply the measures if the World Trade Organization (WTO) approves the move. The duties will affect a number of US products, including steel and aluminium.If applied, the measures will be enacted in two...Read More
"Universal basic income (UBI) is so silly on its face," begins reader Roger A, "even a middle school kid would at least know to ask, "What's the catch?""Yesterday's reckoning on universal basic income drew a heavy mail... and we thank you for your participation.Ron B said:There are a lot of jobs that would not be done if UBI is adopted, and there will be serious problems eventually... UBI is a big...Read More
Taiwan's ferrous scrap imports surged by 34% on the year in March, according to the territory's customs agency.Taiwan imported 331,821 tonnes of ferrous scrap during the month, 84,569 tonnes higher than the 247,252 tonnes it took in a year earlier, data from the Taiwanese Customs Administration showed.March's...Read More
As I filled up my family’s Suburban this week, my 9-year-old was sitting in the back seat.Usually, we make faces at each other while the gas is pumping. But this time, she was paying more attention to the pump. When I got back in the car, she had a question for me:“Daddy, did we really just spend $75 to fill up mom’s car with gas?”I could see the wheels turning in her brain...Read More
Prices for domestic hollow steel sections edged downward slightly in Northern Europe this week, with trade activity remaining thin, market sources told Metal Bulletin on Wednesday May 23.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe widened downward by ?,?5 per tonne to ?,?640-655 ($754-772) per tonne delivered on May...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe were unchanged this week, with weaker demand in the domestic market and a lack of import offers, sources said on Wednesday May 23.The Southern European domestic price for mesh-quality wire rod was unchanged over the week at ?,?525-535 ($619-631) per tonne delivered on May 23."There is a degree of...Read More
Iranian export steel billet prices picked up in the week ended Wednesday May 23 because of the limited volumes of material available for shipment before August, when renewed trading sanctions are expected to be enforced on the country by the United States.The US withdrew from an international deal on Iran's nuclear power industry on May 8, and has said that it will reimpose its trading sanctions a...Read More
Domestic prices for steel beams in Northern Europe fell again this week on continuing limited demand, sources told Metal Bulletin on Wednesday May 23. Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe dipped ?,?5 per tonne to ?,?590-615 ($695-724) per tonne delivered on Wednesday May 23, from ?,?595-620...Read More