Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.

When the oil price fell into negative price territory at the start of the week ended April 24, it fueled fears that a similar situation could materialize in metals.

The Peruvian government's lockdown to contain the spread of Covid-19 has been extended once again - this time to May 10 - President Martín Vizcarra said on Thursday April 23.

China will cut its new energy vehicle (NEV) subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country’s ministry of finance announced on April 23.

Freeport-McMoRan will slash production from the Climax open pit molybdenum mine by around 50% for the rest of the year in response to global market conditions and has cut its annual molybdenum sales guidance by 9%, the company said.