IN CASE YOU MISSED IT: 5 key stories from July 10

Here are five Fastmarkets MB stories you might have missed on Wednesday July 10 that are worth another look.

Bosnian aluminium smelter Aluminij Mostar has shut down after years of financial struggle.

Copper-zinc miner Hudbay has appointed former Nevsun chief executive officer Peter Kukielski to take over as its interim CEO after longstanding executive Alan Hair stepped down from the post.

In a rare move, Japan has started selling steel billet to Southeast Asia due to tumbling scrap prices in the country’s domestic market.

In China, the country’s central government has toned down its ambitious plan to ban all solid waste imports, including metal scrap, by the end of 2020 in its recently proposed revisions to the regulation on solid waste management. Additionally, China will allow another 5,550 tonnes of ferrous scrap to be imported in the second half of this year, according to a notice seen by Fastmarkets on Wednesday July 10, and announced a second round of copper scrap import quotas that will allow a select list of companies to import an additional 124,500 tonnes of red metal scrap during the same period.

Russia has initiated a dispute at the World Trade Organization against the United States’ anti-dumping duties on Russian hot-rolled coil products, according to notice from the WTO’s website dated July 9.

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Mitsui & Co has locked in long-term copper concentrate supply by acquiring 40% offtake rights to Argentina's Josemaria deposit, while Fortescue has completed its acquisition of Peru's Cañariaco project for approximately C$139 million ($101 million), marking the latest in a wave of offtake deals and mergers and acquisitions (M&A) while majors race to secure supply amid an increasingly constrained market and record-low treatment charges (TCs).
The European Union’s Industrial Accelerator Act (IAA), published on Wednesday March 4, was a new step in the bloc’s efforts to decarbonize heavy industry and to support strategic supply chains in sectors such as steel, cement and aluminium.
Fastmarkets will increase the frequency of its two existing CIF China port copper scrap prices and add three new grades on Monday March 16.
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.