Metal

Duty on imports outside new quota will double in move echoed by similar changes in EU limitsBusiness live – latest updatesThe UK government will halve the amount of tariff-free steel imports allowed in an attempt to counter a global oversupply of cheap Chinese metal and boost its beleaguered local industry.New “safeguards” will be introduced on 1 July and will coincide with similar new limits being introduced by the EU for the same purposes. Continue reading...

UK watchdog gives King & King severe reprimand for failing ‘to identify clear self-interest’ when conducting auditsBusiness live – latest updatesThe UK’s accounting watchdog has fined and temporarily banned a tiny audit firm for “egregious” failures and “widespread deficiencies” linked to its work in signing off accounts of several companies in Sanjeev Gupta’s metals empire.King & King and its managing partner Milankumar Patel have been fined a total of £378,184, received a “severe reprimand”, and hit with serious restrictions on audit work after a four-year investigation by the Financial Reporting Council (FRC). Continue reading...

‘Completely unnecessary’ hybrid cans are not easily recycled or accepted by container refund schemes, and are already banned in WAGet our breaking news email, free app or daily news podcastA single-use plastic and metal drinking vessel dubbed a “franken-can” has been given the dubious honour of the nation’s worst plastic packaging.The plastic-metal hybrid can, which is not accepted by container refund schemes or easily recycled – has won the inaugural Unpackit award for Australia’s worst packaging. Continue reading...

• Corporate India concluded FY26 with strong earnings growth, characterized by double-digit gains in Profit After Tax (PAT), sales, and EBITDA according to a report by Motilal Oswal. • The growth was primarily driven by the financials, metals, and oil marketing companies (OMCs) sectors, with mid-cap companies notably outperforming larger entities. • This trend is significant as it indicates broad-based resilience across key industrial sectors and suggests a positive trajectory for Nifty-50 earnings.

A federal judge also warned White House to tread carefully as it moves ahead with plans to revamp DC golf courseA federal judge weighed into a dispute over Donald Trump’s controversial plans to revamp a historic Washington DC golf course on Monday, warning the president’s administration to tread carefully as it also dumped “toxic” rubble from the demolished White House East Wing there.District court judge Ana Reyes likened the saga to an episode of the hit television comedy Parks and Recreation during an emergency hearing in the capital to hear an application for a temporary restraining order filed by the DC Preservation League. Continue reading...

• Indian benchmark indices ended positively on May 4, 2026, with Nifty 50 closing at 24,100 after gaining 122 points and Sensex up 356 points at 77,488 amid volatile trading. • Realty, metal, and healthcare sectors led broad-based gains, driven by falling crude oil prices and improved investor sentiment following state election results, while IT stocks lagged. • Top Nifty gainers included Adani Ports (up 5%), Adani Enterprises, Eicher Motors (up 3%), Hindustan Unilever, and Shriram Finance; laggards were Bharti Airtel, Kotak Mahindra Bank, Dr. Reddy's, ONGC, and TCS.

• Alcoa shares surged 11-12% and Century Aluminum 13.6% as aluminum prices reached near four-year highs due to Middle East infrastructure strikes. • Iranian missile strikes hit critical metal industry infrastructure, disrupting supply and driving the commodity rally amid the widening conflict. • The gains in metal stocks contribute to broader market recovery, underscoring sector sensitivity to geopolitical supply shocks.

Shipments to Russian smelters from Aughinish Alumina have increased sharply since the invasion of UkraineA leading Irish metals refinery is part of an international aluminium supply chain that appears to conclude with shipments to arms producers feeding the Kremlin’s war machine in Ukraine, leaked records and public data suggests.Trading records show that shipments to Russian smelters from Aughinish Alumina, which is located on the Shannon estuary in the west of Ireland and has been owned by the Russian aluminium group Rusal since 2006, have increased sharply since the invasion of Ukraine in 2022. Continue reading...