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Thames Water bans hosepipes as England suffers from a historic drought
Thames Water in Britain announced on Monday a temporary "hosepipe" ban, to reduce water consumption across southern England. This follows the driest, warmest spring for over a century. Thames Water, Britain’s largest water supplier, announced that the ban will take effect on 22 July, affecting households in several counties, including Oxfordshire. Gloucestershire and Berkshire. Customers are forbidden from using hosepipes to do activities like washing cars, watering allotments or gardens, filling swimming or paddling pools, or cleaning windows. In England, other water providers have also implemented temporary bans in this month. Both Yorkshire Water and South East Water announced their restrictions last week. Nevil Muncaster is the Director of Strategic Water Resources at Thames Water. We do not expect the situation to improve anytime soon, given the continuing warm and dry weather. Last month, the government announced that it would increase efforts to protect the water resources in England ahead of summer. Reservoirs are currently only 77% full - well below the seasonal norm of 93%. Scientists claim climate change makes droughts and dry summers more common. (Reporting and editing by Sarah Young; Catarina demony)
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A trade group warns that India's new rule on copper cathode could lead to supply shortages.
The Bombay Metal Exchange warned that India's quality-control order on copper cathodes will likely reduce domestic availability because of "unnecessary and costly compliance burdens" placed on foreign suppliers. India, which is the second largest importer of refined cobalt in the world, implemented quality controls for copper cathode in December. All suppliers, both domestic and foreign, were required to check all substandard products within the country. Bombay Metal Exchange said that quality control restrictions have resulted in a drop in imports. The government has denied this claim. The BME stated that "the downstream sector is facing real and immediate shortages due to the inability or unwillingness of domestic licensees to supply the market, and the unreliability of foreign alternatives." The Indian Federal Ministry of Mines has not responded to an email seeking a comment. For suppliers to meet quality control standards, they must obtain a license from the Bureau of Indian Standards (BIS), which is responsible for quality control in India. In India, trade associations such as the BME and Bombay Non-Ferrous Metals Association have challenged the quality controls. The government has defended its quality control order at court against allegations that it will lead to shortages of supplies and create a monopoly in the supply. BME reported that all five domestic licensed producers use copper cathodes exclusively for their own consumption. The BME stated in a press release that four foreign licensees do not provide copper cathodes, but only offer ingots and semi-finished products. The Indian government announced last month that seven of the ten foreign suppliers who had been certified under the new regulations were from Japan, while two came from Malaysia and one was from Austria. About two-thirds (about $2 billion) of India's refined cobalt imports come from Japan, followed by Tanzania and Mozambique. BME says there is growing evidence that Japanese licensees are withdrawing from the Indian market because of the burdensome and costly compliance requirements. Marubeni Japanese Trading House, which was involved with the licensing process of six Japanese smelters said that "no particular issues have arisen regarding supply to India." India has identified copper as one of 30 critical minerals by 2023. The domestic demand is expected to double in 2030. Hindalco Industries, and the state-owned Hindustan Copper are two of the major domestic suppliers.
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Copper Slides: LME inventories available jump
Prices of copper fell on Monday as a rise in inventories at London Metal Exchange approved warehouses, a stronger dollar and data showing that China is the top consumer provided some support. At 1010 GMT, the benchmark copper price on the LME fell 0.5% to $9,917 per metric tonne. Around $9,565, or the 100-day average, there is strong technical support. The headline copper stock in LME warehouses is only up by 900 tons at 109,625 tonnes . The traders, however, are interested in inventories which were canceled or marked for delivery and then re-warranted. The LME has re-warranted more than 26,000 tonnes of copper due to leave Asia. This means that these volumes can be traded again on the exchange. Last week, President Donald Trump announced a 50% tariff on copper that will take effect August 1. The cancelled inventories were likely intended for shipment into the United States before import tariffs which the industry expected to be announced in November. According to logistics sources, the three-week period between the announcement of the deadline and August 1, did not give enough time for metals from Asia to be shipped. Cash copper contracts are now cheaper than the forward contracts for three months due to the increased availability of the metal on the LME To $45 per ton, which is the highest price since April 23. Elsewhere, Improve your Chinese loan Data suggest that stimulus measures boosted the credit demand during U.S.-China's trade truce. Analysts use total social financing as a measure of industrial metals demands. The rise to 8.9% from 8.7% last month was particularly encouraging. Michael Widmer, an analyst at Bank of America, said that the Chinese stimulus was also a topic of discussion. There's a chance they are looking at overcapacity within certain industries. This could mean that they are trying to support the housing markets." This week, China's GDP, housing prices and industrial production data will provide clues about the Chinese demand. A stronger dollar is generally weighing down on industrial metals. Lead fell 0.7% at $2006, zinc was down 0.8% at $2,718, aluminium was down 0.9% to $2581, tin rose 0.1% to $33,700, and nickel fell 0.1% to $16,170 per ton.
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ArcelorMittal South Africa says little progress made to avert plant closure
ArcelorMittal South Africa said that discussions with the South African Government have not yet yielded much progress in preventing the closure of its loss-making long-steel operations. In November 2023, the South African division of ArcelorMittal SA, world's number two steelmaker, announced that it would close two plants. It cited weak domestic demand and high electricity rates, poor logistics, and competition from mini-mills for recycling scrap metal and imports from China. ArcelorMittal South Africa stated in an update on trading that "regrettably" there has only been limited progress in resolving major structural obstacles. The company said that the closure of the plant could not be delayed beyond September 30, unless a quick solution was found. Parks Tau, South Africa's Trade and Industry Minister, told lawmakers that on July 4, the government is in "firefighting" mode as it attempts to prevent the closure of ArcelorMittal operations in KwaZulu Natal near Johannesburg and in KwaZulu Natal. The company and government have tried to save 3,500 jobs that were directly threatened by the closure of these plants. These plants supply rails, roads, and bars for construction, mining, manufacturing, and automotive industries. The state-owned Industrial Development Corporation, which owns the steel company, injected cash of 1.683 billion Rand ($94.22 millions) to the steel firm in March. The steelmaker said that imports had flooded the market, accounting for more than 35%. Meanwhile, freight rail service has "deteriorated to its lowest level ever," resulting in a significantly increased operating risk. ArcelorMittal South Africa is expecting to report a headline per share loss between 0.89 and 0.99 rands ($0.0498 to $0.0554) in the six-month period ending June 30. This will be a reduction from the 1 rand loss per share reported during the same time last year. The company reported that sales volumes had declined by 10% in the first six months of 2025, compared with last year. ArcelorMittal South Africa is scheduled to release its financial results for the first half of the year on July 31.
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Club World Cup is a 2026 warm-up for the World Cup amid concerns about heat and pitches
The first 32-team Club World Cup concluded on Sunday, and FIFA learned a lot. Chelsea won the tournament, which was a preview for the World Cup in 2026. The quadrennial event will be held next year in the co-hosts of the United States, Canada, and Mexico, with a record 48 teams. This is up from the 64 teams that competed in the last tournament in Qatar in 2022. FIFA has expanded this year's Club World Cup to 32 teams, more than four-times its original size. This format is a preview of what fans can look forward to next year. Alan Rothenberg, former president of U.S. Soccer, who oversaw the World Cup in 1994, said that it is a "dry run" for FIFA. There were mistakes and issues in the beginning, but they've learned from their mistakes. They know how to organize a tournament across multiple cities of this huge country. It's going be a lot easier for '26, because they have more experience." The organizers faced criticism from the players, coaches and fans for a variety of issues, from the pitch conditions, to scheduling, to heat. Some games were played in packed stands, while others had sparse crowds, baking at temperatures as high as 85 degrees Fahrenheit. The global players' union FIFPRO stated that the heat in particular should "serve a wake-up" call, with the organisers being pressured to schedule earlier matches to accommodate the enormous scale of the event. Enzo Fernandez, Chelsea's midfielder, described temperatures as "very hazardous" for players. "Every criticism we receive is an opportunity for us to study and analyse it, in order to find out what we can improve on," FIFA President Gianni infantino told journalists ahead of the final. The heat is a problem. "It's a problem all over the globe." Infantino stated that the 2026 tournament would be using stadiums with climate control and roofs to accommodate more daytime matches. Atlanta, Dallas Houston and Vancouver are the four World Cup stadiums with roofs. "We must look at how we can improve." We introduced cooling breaks. We must water the pitch. "We can look at how we can improve things in America and Canada to prepare for the next Vancouver Olympics," said Infantino. Rothenberg, now the chairman of Premier Partnerships a division within Playfly Sports, stated that FIFA will have greater operational control of the 2026 tournament than previous editions. Rothenberg's forthcoming book, "The Big Bounce", explores the popularity of soccer in the U.S. 'HISTORIC EVENT' In preparation for the World Cup in 2018, the global soccer governing body set up offices in Miami, New York and the Trump Tower. The trophy was presented to Chelsea by U.S. president Donald Trump at the MetLife Stadium in New York on Sunday, after Chelsea defeated Paris St. Germain 3-0. еликие доолнители FIFA will have a broadcast center in Dallas, Texas from January to the end of the tournament next year. The parking lot of the MetLife Stadium, New Jersey, was a smaller version. Oscar Sanchez, the head of host broadcast, told reporters that this was not a trial run. We'll learn a lot from '25, but it is an historic event. It's huge - but the year 2026 will be humongous. MetLife Stadium in East Rutherford will host the World Cup 2026 finale. Research is underway to optimize pitch conditions. Coaches and players have criticised the pitch quality at Club World Cup venues despite efforts to improve it, such as transporting Bermudagrass overnight in refrigerator trucks. Blair Christensen said that the pitch manager would report on this tournament after it and apply lessons to 2026. The players who work with me on the pitch are much sharper than they were in 35 days and we will take this forward into next year. Reporting by Amy Tennery, with additional reporting by Fernando Kallas in New York and Kurt Hall, Miguel Lo Bianco, and Kurt Hall, in New York. Editing by Toby Davis.
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Fire at senior living facility in Massachusetts leaves multiple dead and many injured
A spokesperson for the Massachusetts state fire department confirmed on Monday that multiple people were killed and numerous others injured in a fire at an assisted-living center that broke out on Sunday. "We will not release the exact number until we have received updates about some patients' condition. This is a tragic event for the city of Fall River, and the families affected. In an email, Jake Wark, spokesperson for the Massachusetts Fire Department said that his heart was with them. Wark stated that approximately 70 people lived in the building before the fire. Wark stated that approximately 50 firefighters attended the incident to tackle the fire at Gabriel House assisted living facility. He added that firefighters rescued many occupants but several residents were declared deceased at the scene. Many others were transported to hospital. Wark stated that five firefighters were transported to hospital for injuries which were not life-threatening. Investigations are underway to determine the cause and origin of the fire. Reporting by Gnaneshwarrajan and ShivaniTanna in Bengaluru, editing by Toby Chopra
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Sources say that the US Justice Department has fired several more employees of Jack Smith's team.
Five people with knowledge of the situation say that U.S. attorney general Pam Bondi fired several Justice Department employees on Friday who were working for Special Counsel Jack Smith, an investigator looking into President Donald Trump's retention and use of classified documents as well as his efforts to re-shape the 2020 elections. Around 20 attorneys, support staff, and U.S. According to a source, the Marshals involved in Smith's investigation were terminated. At least two of those fired were former prosecutors from other U.S. states. Three sources said that the offices of attorneys in Florida and North Carolina were affected. Since January, the Justice Department has dismissed employees who have worked on issues involving Trump or supporters of Trump. They cite Trump's executive power under the U.S. Constitution. A spokesperson from Smith did not respond immediately to a comment request. Fourteen attorneys from Smith's team, who had worked on Trump-related cases, were terminated on January 27, becoming the first employees of the Department to be fired. In termination letters, department leadership informed the attorneys that they couldn't be trusted to implement Trump's agenda due to their work on Smith’s investigation. Since Trump's inauguration on January 20, at least 37 members of Smith's team, including those fired on Friday have been dismissed. In recent months, the Justice Department has fired employees who worked on cases involving defendants accused of storming the U.S. Capitol in January 2021 in an effort to prevent Congress from certifying Joe Biden’s election victory in 2020. Three prosecutors were terminated in late June. One of them had worked on Proud Boy cases. Bondi fired earlier this month a career veteran who was a spokesperson for U.S. Attorney's Office Washington. The Justice Department fired all probationary prosecutors in late January who worked on the January 6 cases. Smith filed two criminal charges against Trump in the year 2023. He accused him of illegally keeping national security documents, and plotting to reverse his election loss from 2020. Both cases were dropped before Trump returned. (Reporting and editing by Tom Hogue, Diane Craft and Tom Hogue; Sarah N. Lynch & Andrew Goudsward)
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Trump's Trade War as it Develops
The tariffs imposed by Donald Trump since his inauguration on January 20, 2017 have sent shockwaves through financial markets, and uncertainty has spread throughout the global economy. This timeline shows the major events: Trump imposes tariffs of 25% on Mexican imports, 10% on Chinese goods and most Canadian imports from February 1. He demands that they reduce the flow of illegal immigrants and fentanyl into the United States. Trump agrees to a 30-day suspension of his tariff threat against Mexico and Canada in exchange for concessions made on border security and criminal enforcement. The U.S. doesn't reach a similar deal with China. Trump delays tariffs until the Commerce Department confirms that systems and procedures are in place for processing low-cost packages from China and collecting tariff revenue. Trump increases tariffs on aluminum and steel to 25%, "without any exceptions or exclusions". March 3 - Trump announces that 25% tariffs will be imposed on imports from Mexico and Canada from March 4, and that all Chinese imports will face a 20% tariff on fentanyl. After a phone call with General Motors, Ford and Stellantis' chairperson and CEOs, he agrees to defer tariffs on certain vehicles manufactured in Canada and Mexico for a month. Trump exempts Canadian and Mexican goods under the North American Trade Pact from 25% tariffs for one month. Trump announces a 25% import tariff on cars and light trucks. He announces global duties with a base of 10% on all imports, and much higher duties for some of the United States’ biggest trading partners. Trump suspends most of the country-specific tariffs he had imposed less than 24 hours before, following a financial market upheaval that saw trillions of dollars disappear from global bourses. The 10% blanket duty on nearly all U.S. imported goods remains in place. Trump has announced that he will increase the tariffs on Chinese imports from 104% to 125%, which was the level in effect the day before. The extra duties on Chinese products, including those related to fentanyl, will now be 145%. The U.S. government grants exemptions to steep tariffs on some electronics, including smartphones and computers, imported from China. In an effort to impose tariffs in both sectors, the Trump administration launched national security investigations under Section 232 of Trade Act of 1962 on imports of pharmaceuticals and semiconductors. May 4, Trump imposes 100% tariffs on all films produced outside of the U.S. May 9 - Trump announces a limited bilateral agreement with British Prime Minister Keir starmer that keeps 10% tariffs in place on British exports and modestly increases agricultural access to both countries. It also lowers U.S. prohibitive duties on British auto exports. On May 12, the U.S. & China agreed to temporarily reduce reciprocal tariffs. The U.S. and China agree to temporarily reduce reciprocal tariffs. May 13: The U.S. reduces the "de minimis", or low-value tariff, on China's shipments. Duties for items up to $800 are reduced to 54% instead of 120%. May 23 - Trump announces he will recommend a 50% tariff on all goods imported from the European Union, starting June 1. He warns Apple that it will face a 25% tariff on phones sold in the U.S. if they are manufactured outside the country. Trump retracts his threat to slap tariffs of 50% on EU imports. He agrees to extend the deadline to July 9 for negotiations. May 28 - The U.S. Trade Court blocks Trump's tariffs in an sweeping ruling, saying that he overstepped his authority when imposing duties across the board on imports of U.S. trading partners. The Trump administration has announced that it will appeal this ruling. May 29: A federal appeals Court temporarily reinstates Trump's most comprehensive tariffs. The court suspends its ruling in order to hear the government's appeal. It also orders that the plaintiffs and administration respond to the court by June 5, and by June 9, respectively. Trump signs an executive order activating the increase in tariffs for imported steel and aluminium to 50%, up from 25%. Trump warns he could soon increase auto tariffs. He argues that this would encourage automakers to accelerate U.S. investment. Trump announces a 20% tariff for many Vietnamese exports. Trans-shipments through Vietnam from other countries will be subject to a 40% tax. Trump said on Truth Social, July 6, that countries who align themselves with BRICS' "anti-American policies" will be subject to an additional 10% tariff. Trump on Truth Social: The additional duties announced earlier in the year will be delayed to August 1 as the U.S. completes several trade agreements. In letters to 14 countries, including Japan, South Korea, and Serbia, he said he would introduce tariffs between 25 and 40 percent from August 1. Trump announced on July 10 that the U.S. would impose a tariff of 35% on Canadian imports next month, and planned to impose tariffs blankets of 15% or 20 % on most other trading partner. Trump threatens a 30% tariff starting August 1 on imports coming from Mexico and Europe (Compiled in Gdansk by Paolo Laudani, Mateusz Rabiega, and Milla Nissi Prussik, Jamie Freed and Lincoln Feast; edited by Matt Scuffham and Milla Nissi Prussik)
China's copper exports to the US jumped 9% from May to June, reversing a two-month decline.
China's imports of copper rebounded by 8.7% in June. This followed a two-month decline. However, imports this year have been below those from last year due to a global transfer copper inventories to United States.
Customs data released Monday shows that imports of unwrought copper and copper products increased to 464,000 metric tons in June from 427,000 metric tonnes in May and 438,000 metric tonnes in April.
Imports of copper products including anodes, refined, alloys and semi-finished products are down by 5% in the first half when compared with a year ago.
The global copper stock has been reshuffled in this year, as traders have moved their inventories into the United States to prepare for copper tariffs that were first announced in February and whose start date was set last week.
Copper concentrate, which is a key feedstock in China's massive smelter industry, dropped slightly from 2.4 to 2.35 millions tonnes, but remained roughly the same as the previous year, when it was 2.31 million tonnes.
The new smelters expected to open this year will help keep the demand for concentrates high in a market that is suffering from a shortage of feedstock.
In June, China exported 489,000 tons of aluminium, including alloys, primary and semi-finished products. This is down from the 547,000 tons in May. Reporting by Lewis Jackson, Beijing; Editing and proofreading by Clarence Fernandez
(source: Reuters)