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Codelco’s profits hit by falling prices and sales
Chile's Codelco, the world's largest copper producer, reported a 73% drop in pre-tax profit in the first three months of this year, mainly due to falling prices and sales volumes. Codelco's pre-tax profit was $418 million in the January-March period. The state-owned...
Carbon tax: in the EU the tax is ready to reward metal with recycled content
The EU's implementation of a carbon border adjustment mechanism (CBAM) to reduce the risk of what is called 'carbon leakage' as it strengthens its emissions trading system (ETS) is likely to force global metal producers to accelerate efforts to reduce their carbon...
Steel: additional taxes imposed by Turkey came into force on 1 May
On 1 May, the increase in import duties on certain flat products in Turkey came into effect. With this increase, the duty on unalloyed HRC increased from 9% to 15% and that on alloyed HRC from 6% to 13%. The import duty on sheet metal, which was 9-10-15%, increased to...
Aluminium: key points in the global value chain
Global non-ferrous metal prices, including aluminium, fell in April 2023. Despite falling aluminium inventories in LME warehouses and also in China, prices remained on a downward trend. The recovery of the Chinese economy in the latter part of the year 2022...