IN CASE YOU MISSED IT: 5 key stories from April 21

Here are five Fastmarkets stories you might have missed on Tuesday April 21 that are worth another look.

The lockdowns imposed due to the Covid-19 pandemic were offering automotive manufacturers a rare opportunity to take a step back and to re-evaluate their long-term strategies, the chief executive officer of Eurasian Resources Group has said.

Italian long steel producer Alfa Acciai Group has resumed production this week following a month of downtime, sources told Fastmarkets on April 17.

United States-based Ball Corp has announced that the Science-based Targets Initiative (SBTi) has approved the company’s targets for the reduction of absolute carbon emissions in its own operations by 55%, and within its value chain by 16%, by 2030 against a 2017 baseline.

Tantalum prices have found support due to tightness of supply and concerns about obtaining material during the continued lockdowns in central African countries imposed to control the spread of the Covid-19 pandemic.

A one-month construction suspension at Teck Resources’ Quebrada Blanca 2 copper mine in Chile is expected to cost the company at least $75 million, a figure set to rise if further delays are incurred.

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Jeddah in Saudi Arabia and Port of Sohar in Oman are becoming tactical workarounds for base metal exports blocked by the Strait of Hormuz closure, with cargo transiting via land-bridge to other Gulf states, such as Bahrain and the United Arab Emirates – though capacity constraints and elevated logistics costs limit availability, sources with direct visibility of Gulf supply chains told Fastmarkets.
The Mexican aluminium market might be strongly affected by the closure of the Strait of Hormuz, with supply constraints and consequently higher premiums, market participants told Fastmarkets on Tuesday March 10.
Lundin Mining and BHP published a preliminary economic assessment on February 16 for their Vicuña joint venture, projecting average annual copper production of 395,000 tonnes over the first 25 years of operation as Argentina’s copper concentrate pipeline continues to build. PSJ Cobre Mendocino separately confirmed on February 14 that its feasibility study was under way.
Chinese lead smelters turned more bearish on the procurement of raw materials in the week to Friday February 13, amid heightened price volatility in silver, which is often contained in lead ores as an important by-product and contributor to smelter profits, sources told Fastmarkets.
Roughly 40,000 tonnes per month of copper cathode that once flowed smoothly into the United Arab Emirates (UAE) through Jebel Ali had few options to reroute after the Strait of Hormuz officially closed on Monday March 2, with the only alternative entry points — Khor Fakkan and Fujairah — already straining under the weight of diverted cargo, market sources told Fastmarkets.
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