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Coal: Russia abolished export tax based on dollar-ruble exchange rate
The Russian government announced the abolition of export taxes on thermal and coking coal based on the rouble-dollar exchange rate. The taxes, which were introduced in October last year and ranged between 4 and 7 per cent to protect the domestic market from price...
Disturbance in the Red Sea causes production stoppage at Tesla’s Gigafactory in Berlin
Tesla is facing an interruption of car production at its plant in Gruenheide, near Berlin. The interruption, from 29 January to 11 February, is due to the Red Sea crisis, with Iranian-backed Houthi militants targeting ships, causing a shift in shipping routes. This...
Aluminium: shares of Russian material in LME warehouses rise to 90 per cent after UK restrictions
The share of available stocks of Russian-origin aluminium in London Metal Exchange (LME)-approved warehouses rose to 90.4 per cent in December from 78.8 per cent in November, according to data published on the exchange's website on Wednesday. The increase follows...
European steel mills restart blast furnaces after shutdown as coil prices rise
The first quarter of 2024 opens with the slow resumption of production by European steel mills, which had been suspended since mid-2023 to keep steel prices low. In an attempt to put an end to the negative trend in the European coil market, caused by low demand,...