This morning in metals news, Ford plans to restart its operations in the U.K. on Monday, Glencore comments on the COVID-19 crisis’ impact on copper and a Chilean industry group forecast a copper surplus of 200,000 tons this year.
Ford to restart U.K. operations
In addition to restarting its North American operations, Ford Motor Co. plans to restart its U.K. operations on May 18, the company announced.
The automaker will restart its Dagenham Engine Plant in Essex and Bridgend Engine Plant in South Wales.
“As we return to work at our two engine plants in the U.K., our key priority is the implementation of Ford’s global standards on social distancing and strengthened health and safety protocols to safeguard the well-being of our workforce,” said Graham Hoare, chairman of Ford of Britain.
Glencore: 4% supply impact for copper from COVID-19
In a Bank of America presentation, miner Glencore said copper will see a 4% supply impact from the COVID-19 crisis this year.
Sonami: 200K-ton copper surplus this year
Sticking with copper, Chilean industry group Sonami forecast a 200,000-ton global copper surplus this year, Reuters reported.
Diego Hernandez, president of the group, told Reuters he expects to see a copper demand decrease of between 3.5-4% this year.