This morning in metals news, miner Glencore released its 2019 production results, the coronavirus fallout continues and U.S. Steel is planning to temporarily close its Gary Works No. 4 blast furnace in April.
Glencore copper production drops in 2019
Mining giant Glencore saw its copper production fall 6% in 2019 compared with the previous year, down to 1,371.2 kt.
Meanwhile, the miner’s cobalt production rose 10% to 46.3 kt. Glencore’s zinc and lead production increased by 1% and 2%, respectively.
Hong Kong has its first reported coronavirus death
As global health organizations, governments and stock markets monitor the coronavirus outbreak, Hong Kong has reportedly had its first death from the coronavirus, Reuters reported.
Shanghai’s benchmark index lost approximately $400 million in value Monday, according to the report.
U.S. Steel plans temporary outage of Gary Works furnace
U.S. Steel recently announced it is planning a 48-day outage at its Gary Works No. 4 blast furnace, the Times of Northwest Indiana reported.
Christine Breves, senior vice president of manufacturing support and chief supply chain officer, was quoted as saying the company is planning on building inventory in the first quarter prior to the planned outage.