IN CASE YOU MISSED IT: 5 key stories from April 6

Here are five Fastmarkets stories you might have missed on Monday April 6 that are worth another look.

Italian stainless steelmaker Acciai Speciali Terni (AST) has resumed production, following a week of downtime in response to the coronavirus pandemic, sources told Fastmarkets on April 6.

The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity.

Chile’s state copper commission, Cochilco, has lowered its estimate for the average copper price in 2020 to $2.40 per lb amid a significant downturn in demand due to the Covid-19 pandemic.

Seaborne manganese ore prices in China soared in the week ended Friday April 3, driven by strength in the portside market following supply concerns after South Africa’s nationwide lockdown permeated the seaborne market.

Canada-based ferro-titanium producer Metalliage is considering its options after local authorities in Canada said on Sunday April 5 that all non-essential business will be closed until May 4, extending its earlier order by three weeks.

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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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