This Morning in Metals: Vale iron ore production down 18%
This morning in metals news, Brazilian miner Vale’s iron ore production dropped 18% in Q1, U.S. total energy exports exceeded imports in 2019 and China has imposed new scrap import quotas.
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Vale iron ore production down in Q1
Brazil’s Vale saw its iron production fall 18% in Q1, Kitco News reported.
Vale’s iron ore production totaled 59.6 million tons, according to the report, down from previous guidance of between 63 million and 68 million tons.
U.S. energy exports exceed imports in 2019
According to the Energy Information Administration (EIA), U.S. energy exports exceeded imports in 2019 for the first time in 67 years.
U.S. energy exports reached an all-time high of 23.6 quadrillion British thermal units (quads) in 2019, according to the EIA.
China imposes new scrap import quotas
Citing the Bureau of International Recycling (BIR), Recycling Today reported China has rolled out another set of scrap import quotas.
The latest batch of scrap quotas “allows 222,020 tonnes of copper scrap, 191,100 tonnes of aluminium scrap, 3,700 tonnes of steel scrap and 1,165,669 tonnes of paper scrap to enter China,” according to the BIR.
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The full list of products subject to the quotas can be found on the BIR website here.
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