This morning in metals news: MetalMiner’s September Monthly Metal Outlook (MMO) is now available; a Peruvian official says copper mining in the country has recovered after disruptions related to the COVID-19 pandemic; Finnish stainless steel producer Outokumpu announced a leadership change; and the U.S. Department of Commerce recently issued an affirmative final determination in a countervailing duty investigation covering steel cylinders from China.
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September MMO now available
It is a crucial time of the year for metals buyers who are busy setting their short-, medium- and longer-term spend strategies.
Buyers should make sure to equip themselves with the knowledge to source smartly in what has been a volatile year.
In that vein, the MetalMiner Monthly Metal Outlook (MMO) report for the month of September is now available. Readers will find news, analysis and much more covering copper, aluminum, nickel, tin, lead, zinc, HRC, CRC, HDG and plate.
Don’t miss out on the MMO report’s invaluable insights — learn more today.
Reuters: Peruvian government official says mining has almost completely recovered
Despite disruptions this year related to the global pandemic, the mining sector has almost completely recovered in Peru, a government official said, according to Reuters.
Peru is the No. 2 copper producer in the world.
“In Peru, stoppages resulting from the COVID-19 pandemic, combined with operational issues/adverse weather that affected a few major mines, led to a 23% decline in mine output over the first five months, with April and May registering declines of 33% and 41%, respectively,” the International Copper Study Group recently reported.
Leadership change at Outokumpu
Outokumpu, Europe’s largest stainless steel producer, announced the departure of its executive vice president for communications, marketing and investor relations, Reeta Kaukiainen.
Kaukiainen will continue in the role through the end of September, the firm said in a release.
DOC makes preliminary determination on steel cylinder imports
The Department of Commerce last week announced an affirmative preliminary determination in its countervailing duty probe related to imports of non-refillable steel cylinders from China.
The DOC calculated subsidy rates for Chinese exporters ranging from 22.97-190.67%.
Imports of the cylinders were valued at $71.8 million in 2019.
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