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Bengal’s demand for imported scrap steel has slowed, with local price advantages suppressing imports.

30

26-04

// Blog

Bengal’s demand for imported scrap steel has slowed, with local price advantages suppressing imports.

According to market sources, the Bangladeshi imported scrap steel market remains largely inactive as persistently lower-priced local scrap continues to dampen purchasing interest. Rising container freight rates by about USD 200, coupled with higher raw material prices, have further undermined the viability of imports. The weekly assessment for the week ending April 29, 2026, reveals a mixed trend: European containerized scrap prices fell by as much as USD 4 per tonne, while bulk scrap from other origins saw a modest increase of USD 1 per tonne. European-origin containerized HMS (80:20) is now assessed at USD 390 per tonne CFR, down USD 2 per tonne week-on-week; crushed scrap stands at USD 413 per tonne, a decline of USD 4 per tonne. Japanese-origin bulk H2 is priced at USD 395 per tonne CFR, up USD 1 per tonne; U.S.-origin bulk HMS (80:20) is quoted at USD 404 per tonne CFR, also up USD 1 per tonne.

Democratic Republic of the Congo Establishes Mining Security Force, Allocates $100 Million to Strengthen Supply Chain Security

29

26-04

// Blog

Democratic Republic of the Congo Establishes Mining Security Force, Allocates $100 Million to Strengthen Supply Chain Security

The Democratic Republic of the Congo has announced the establishment of a mining security force to safeguard mining areas and ensure the stability of mineral supply chains, with a project budget of US$100 million funded by the United States and the United Arab Emirates. According to the country’s General Inspectorate of Mines (IGM), the initiative aims to combat smuggling, address security challenges in mining regions, and boost investor confidence.

Brazil Rejects Proposal to Establish a State-Owned Critical Minerals Company, Stalling U.S. Agreement

27

26-04

// Blog

Brazil Rejects Proposal to Establish a State-Owned Critical Minerals Company, Stalling U.S. Agreement

西政府明确表示不会设立国家级关键矿产公司，在政策框架迟迟未落地背景下，与美国的矿产合作推进面临不确定性。巴西工业部长Marcio Elias Rosa称，没有必要成立国有企业参与关键矿产开发与加工，现行监管体系已具备吸引投资的激励机制。该表态直接否定了此前被称为“TerraBras”的国资平台设想。

Pakistan Extends Anti-Dumping Duty on Chinese Steel Billets for Another Five Years at a Rate of 24.04%

23

26-04

// Blog

Pakistan Extends Anti-Dumping Duty on Chinese Steel Billets for Another Five Years at a Rate of 24.04%

The National Tariff Commission of Pakistan has completed the second sunset review of the anti-dumping duty on steel billets imported from China and has decided to maintain the duty at 24.04%. The measure will take effect on June 22, 2025, for a period of five years. The anti-dumping duty was first imposed in 2017 and underwent its first review in 2022. This latest review decision is based on trade data covering the period from January 1, 2022, to December 31, 2024. The relevant regulations include important exemption provisions. Steel billets imported for export-oriented production or for foreign aid and reconstruction projects are exempt from the anti-dumping duty, provided they comply with the requirements of Pakistan’s Customs Act of 1969. The products subject to the investigation fall under the following Pakistani customs tariff headings: 7207.1110, 7207.1190, 7207.1210, 7207.1290, 7207.1910, 7207.1920, 7207.1990, 7207.2010, 7207.2020, 7207.2090, 7224.1000, and 7224.9000.

Bangladesh Resumes Scrap Steel Purchases from South Korea

21

26-04

// Blog

Bangladesh Resumes Scrap Steel Purchases from South Korea

According to market sources, Bangladeshi steelmakers have recently resumed imports of deep-sea scrap from South Korea after a prolonged suspension, securing a new shipment during the week of April 20. Rising costs driven by the ongoing Middle East conflict have pushed overall scrap prices higher. In particular, following a sharp increase in Turkish purchases, U.S. West Coast scrap has largely lost its economic viability for most Bangladeshi mills. Consequently, local steelmakers are actively seeking supply sources with shorter shipping lead times to meet production needs. It is reported that a deal for approximately 20,000 tonnes of South Korean deep-sea scrap was struck last week, with an CIF price of USD 410–412 per tonne for HMS 1&2 (80:20) and USD 425–427 per tonne for high-quality HS scrap (CFR). Sources note that Bangladesh has not imported such large volumes of scrap from South Korea in the past two to three years.

Canada’s First Quantum Minerals Partners with Hitachi to Deploy the World’s First Fully Electric Mining Truck at a Zambian Mine

20

26-04

// Blog

Canada’s First Quantum Minerals Partners with Hitachi to Deploy the World’s First Fully Electric Mining Truck at a Zambian Mine

Canadian mining company First Quantum Minerals (FQM), in collaboration with Hitachi Construction Machinery, has commissioned the world’s first ultra-large electric mining truck at the Kansanshi copper–gold mine in Zambia, marking a significant breakthrough in the electrification of mining haulage and the low-carbon transition of the industry. The vehicle is a fully electric Hitachi EH4000 mining truck, equipped with advanced battery technology and a catenary-assisted system, and officially entered service on April 16. FQM stated that this initiative will enhance energy efficiency, reduce reliance on fossil fuels, and lower greenhouse gas emissions. Zambia’s Ministry of Mines and Mineral Development emphasized that the project is of great importance to national development, as the adoption of clean energy will drive the mining sector toward sustainability and strengthen Zambia’s position in the global green-mining arena.

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