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The Lusaka High Court in Zambia ruled on Wednesday June 26 that the appointed liquidator of Vedanta-owned Konkola Copper Mines (KCM) could not dispose of the assets, which include the country’s largest copper smelter Nchanga, according to a court document seen by Fastmarkets.
Aluminium alloy producers in the United Kingdom have been forced to close smelters or partially cease production as a confluence of weakening automotive sector demand for material, sluggish regional gross domestic product growth and tariff uncertainty continues to push LM24 ingot prices lower.
A 10-week decline in low-grade manganese ore prices stalled on June 21 and Chinese port ore prices have been rebounding dramatically from 2019 lows reached in early June.
Continued tin flows onto the London Metal Exchange, which have risen by 50% this month, exerted downward pressure on global tin premiums during the week ended June 25.
In steel, steelmakers in Europe said at European steel association Eurofer’s European Steel Day in Brussels on June 26 that the European Commission must impose a carbon-emissions cost on imported steel similar to the carbon cost it currently imposes on the region’s domestic steelmakers. And in the United States, the Commerce Department has eliminated anti-dumping duties against certain hot-rolled coil imports from Turkey.