IN CASE YOU MISSED IT: 5 key stories from July 9

Here are five Fastmarkets MB stories you might have missed on Tuesday July 9 that are worth another look.

Sinking product prices across the copper value chain are eroding processing margins for custom copper smelters, causing uncertainty as well as driving investments and consolidation in the industry.

The United States’ Section 232 tariffs have benefited certain steel producers but mostly negatively impacted others due to disruption to the global supply chain ecosystem, an NLMK USA executive said following the layoff of at least 80 employees at its Pennsylvania facility last week.

Italian steel re-roller Marcegaglia has warned that limiting imports of hot-rolled black stainless steel coil into Europe would “put at risk the viability of our stainless steel business,” chief executive officer Antonio Marcegaglia said in a letter to the EU published late last week.

Troubled UK long steel producer British Steel has reported “encouraging levels of interest” in the sale of the business after a number of bids were made before the June 30 deadline, the company said on July 5.

India’s Ministry of Steel is seeking stakeholder feedback by July 14 on a draft steel scrap policy that aims to reduce the country’s reliance on imports by establishing a network of recycling centers to collect and process ferrous scrap.

What to read next
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As of May 1, 2023, Fastmarkets will improve the foreign exchange (FX) spot rates published on the Fastmarkets Dashboard and in the Scrap Settlement PDF.
European energy analysts’ “what if” questions have turned into “what now” questions in the wake of Russia’s stalled war efforts against Ukraine
Despite the metal being classed as “strategic” in the European Union’s proposed Critical Raw Materials Act (CRMA), questions remain about the future of magnesium supply in Europe, market participants have told Fastmarkets
The publication of Fastmarkets’ assessment of the Southeast Asia copper premium for Tuesday March 28 was delayed due to a scheduling error.
Recycling is increasingly being considered the best way to reduce carbon emissions from metals production, and huge investment in recycling facilities has been seen in recent years, with robust merger and acquisitions activity
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