This Morning in Metals: Ford employees could get chance to continue working remotely

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This morning in metals news, thousands of Ford Motor Co. employees who have been working remotely as a result of the coronavirus pandemic might be allowed to continued doing so during the remainder of the year, Chinese coal imports dropped in May and Chinese steel rebar prices lost some ground on oversupply concerns.

Working from home

Ford employees who have been working remotely this year may have the opportunity to do so for the rest of the year, the Detroit News reported.

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According to the report, the automaker has started surveying the approximately 30,000 workers who have been working remotely due to the pandemic.

China’s May coal imports down

According to China’s National Bureau of Statistics, China’s May coal imports fell to 22.06 million tons, marking a 19.7% year-over-year decline.

Through the first five months of the year, however, China’s coal import level rose 16.8% year over year.

Steel rebar prices dip

Meanwhile, prices of Chinese steel rebar fell Wednesday on concerns about oversupply, Reuters reported.

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The most-traded rebar contract on the SHFE fell 0.6% to 3,572 yuan ($503.58) per metric ton.

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