IN CASE YOU MISSED IT: 5 key stories from September 16

Here are five Fastmarkets MB stories you might have missed on Monday September 16 that are worth another look.

Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview.

Newmont Goldcorp has suspended production at its Peñasquito mine in Mexico, which is again being blockaded by the local community there, the company said on Monday September 16.

Copper miner PT Freeport’s export license for copper concentrates has been tripled by the Indonesian Energy and Mineral Resources Ministry for the March 2019-March 2020 period, Fastmarkets has learned.

Major Vietnamese integrated steel producer Formosa Ha Tinh Steel Corp has lowered its offers for hot-rolled coil to be shipped and delivered in November by $51 per tonne amid a weakening international market for the flat steel product.

The active contract price for aluminum on the Shanghai Futures Exchange may rise as high as 15,000 yuan ($2,128) per tonne by the end of October 2019 on the back of tightening supply, market participants have told Fastmarkets.

What to read next
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
Century Aluminum is among those selected to start award negotiations for up to $500 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding to build a new aluminium smelter, the company said on Monday March 25
Participants in the copper concentrates market are struggling to comprehend an “unstoppable” decline in treatment and refinement charges (TC/RCs), with every week bringing spot deals at fresh lows and rumors each “crazier” than the last, sources have told Fastmarkets
The US Department of Energy selected five base metals projects to receive more than $900 million in federal investment from its Industrial Demonstration Program (IDP), leading to a reduction of four million tonnes of carbon dioxide emissions annually, according to a statement by the Department on Monday March 25
Aluminium producer and recycler Constellium announced on Tuesday March 12 that the company is moving to test hydrogen utilization at an industrial scale as a power source in its casthouses
Fastmarkets has corrected its MB-ALU-0002 alumina index, fob Australia and its MB-ALU-0010 alumina inferred index, fob Brazil, which were published incorrectly on Monday March 18.