Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of: steel prices; container traffic trends; housing starts; oil prices; E.U. anti-dumping duties on stainless steel; and much more.
- Chemaf announced it would suspend operations its Usoke copper-cobalt processing plant in the Democratic Republic of the Congo.
- Major steelmakers have idled blast furnaces and laid off workers amid the coronavirus pandemic.
- South Africa’s lockdown has shaken up the ferrochrome sector and, in turn, delayed the fixing of stainless steel surcharges.
- Stuart Burns weighed in on the pandemic’s impact on container traffic and what it could potentially mean for shipping lines.
- The COVID-19 pandemic is also expected to hit India’s iron ore export market.
- The E.U. has slapped anti-dumping duties on stainless steel imports from a trio of Asian countries.
- U.S. industrial production fell 5.4% in March.
- Burns recapped the latest developments in the oil price saga, including the recent OPEC+ output cut agreement.
- U.S. housing start activity dropped significantly last month as states implemented coronavirus mitigation measures.