This morning in metals news, gas prices this Thanksgiving were similar to levels the previous two years, Tata Steel has confirmed job cuts in the U.K. and a partnership may form toward development of new copper projects in Peru.
Gas prices hang at around $2.58 per gallon
For those who traveled this Thanksgiving season, average gas prices stood at levels similar to previous holiday seasons.
According to the Energy Information Administration (EIA), average gas prices in the U.S. as of Nov. 25 stood at $2.58 per gallon, compared with $2.61 per gallon in 2018 and $2.57 per gallon in 2017.
Tata Steel to cut U.K. jobs
Steelmaker Tata Steel has confirmed it will cuts 1,000 jobs in the U.K., the Financial Times reported.
The round of job cuts is part of a total 3,000 jobs being cut by the steelmaker, according to the report, as it deals with falling steel prices and rising raw material costs.
Possible copper project partnership in Peru
Reuters reported Canadian firm First Quantum is looking to team up with other companies to develop copper projects in Peru.
According to the report, the Canadian firm is looking for partners to help it develop new copper projects in the country, with CEO Philip Pascall citing Rio Tinto as a potential partner for a joint venture.