This morning in metals news, the E.U. has opted to slap anti-dumping duties on stainless steel imports from a trio of Asian countries, the Black Butte copper project in Montana recently received a positive Record of Decision and aluminum prices continue to fall.
E.U. opts to impose stainless steel duties
The E.U. has added anti-dumping duties on stainless steel coming from China, Taiwan and Indonesia, Reuters reported.
Hot-rolled stainless steel sheets and coils from two Indonesian subsidiaries of the Chinese firm Tsingshan Holding Group will be subject to a 17% duty.
Black Butte copper project gets positive Record of Decision
The Black Butte copper project has received a positive Record of Decision from the Montana Department of Environmental Quality, opening the way for Sandfire Resources America Inc. to potentially begin construction and production.
“The issuance of the RoD by the MTDEQ is a clear indication that the State of Montana is a good place to invest and create new jobs,” said Rob Scargill, Sandfire’s CEO and vice president of project development. “Our project design robustly meets and exceeds some of the strictest environmental requirements for mining worldwide and demonstrates that 21st Century mining and environmental excellence can go hand-in-hand.”
Aluminum prices down 13%
Like the broader basket of base metals, aluminum prices have continued to fall over the last month.
LME three-month aluminum closed last week at $1,467/mt, down 13.04% compared to a month ago, according to MetalMiner IndX data.