Brazil's largest aluminium producer CBA reported a 7% year-on-year decline in its 2017 adjusted earnings due to factors stemming from the sale of surplus energy and the suspension of its nickel operations.Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 449 million Brazilian Reais ($134.3 million) last year.This decline was "mostly driven by higher [generati...Read More
Miner South32 has signed a 2018 annual lead concentrate supply contract with at least one major smelter, which includes a 21.4% drop in headline treatment charges. South32's deal, which supplies lead concentrates from its Cannington mine in Australia, sets headline treatment and refining charges (TC/RCs) at $98 per tonne/$0.60 per oz, against $124.70/$1 in 2017, sources with knowledge of the matte...Read More
JXTG, Japan's energy and metal conglomerate, expects to post an impairment loss of 65 billion yen ($606.8 million) for its Chilean Caserones copper project following a series of production problems last year. The 65 billion yen bill was attributed to changes in the mining plan due to a fault in an ore pit and a review on long-term production plan, the majority owner of Caserones copper mine said o...Read More
The latest metal markets news and price moves to start the North American day on Thursday April 5.Zinc prices on the London Metal Exchange came under further pressure during morning trading today after on-warrant stocks rose by 16%.The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to...Read More
The executive board of Italian steel association Federacciai has chosen Alessandro Banzato to be its next president, it announced this week.Banzato, who is chairman and chief executive officer of Italian steelmaker Acciaierie Venete, will hold the position for two years, Federacciai said on...Read More
The merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia was concluded on Sunday April 1, resulting in the creation of the country's largest long steel mill, with output capacity for around 5 million tonnes per year."We become more competitive in a market that is very challenging," the chief executive officer of ArcelorMittal Long Carbon Central & South Americas,...Read More
China has requested consultations with the United States under the Dispute Settlement Mechanism of the World Trade Organization (WTO) regarding tariffs settled on Chinese goods, the WTO said on Thursday April 5.China made the request after the US government released a proposed tariff list on April 3, naming 1,300 Chinese goods that the US administration...Read More
Adjusted earnings at Brazil-based Votorantim's long steel division, which includes assets in Argentina and Colombia, dropped by 11% in 2017 compared with the previous year.Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) reached 272 million Reais ($81.37 million) last year, down from 304 million Reais in 2016, parent company Votorantim SA said on Wednesday April 4.R...Read More
Turkish domestic rebar prices have continued to fall over the past week, amid declining imported scrap values, sources said on Thursday April 5.Metal Bulletin's weekly price assessment for domestic rebar on Thursday was $570-590 per tonne ex-works, down from the $585-605 per tonne of last week.The domestic rebar price in the Izmir region was $575-580...Read More
Import prices for steel billet in Egypt fell this week on declining demand, sources told Metal Bulletin on Thursday April 5.CIS-origin billet was on offer in Egypt at $540-545 per tonne cfr, down from last week's $550-555 per tonne cfr. No new price was heard from Iran. Metal Bulletin's weekly...Read More
Turkish long steel export prices have continued to weaken in line with sluggish demand and falling imported scrap values, sources said on Thursday April 5.Turkish steel mills reduced their offers to $570-580 per tonne fob actual weight, while customers' bids were $560 per tonne and lower.There has been no significant export activity heard in the market over the past week,...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Teck Resources Ltd has increased its stake in Compa???-a Minera Teck Quebrada Blanca SA (QBSA) through the purchase of private Chilean firm Inversiones Mineras SA (IMSA), the Canada-headquartered company said. The acquisition of the 13.5% stake brings Teck's interest in QBSA to 90%. IMSA held 8.5% of the ordinary shares of QBSA and a 5% preferred share interest. Enami, a Chilean state agency, hold...Read More
Metal Bulletin proposes to refine the name of its Latin American pig iron prices to reflect market conditions. Metal Bulletin invites market participants to take part in a market consultation on the plan to rename two pig iron prices as follows: From: Latin America exports pig iron $ per tonne fob Ponta da Madeira Brazil To: Brazil exports pig iron $ per tonne fob Ponta da Madeira From: Latin Amer...Read More
Rail and port services in Queensland have resumed with Cyclone Iris no longer posing a threat to the Australian state's supply of coking coal to the seaborne market.The unloading of coal trains has recommenced at the Hay Point Coal Terminal, rail freight operator Aurizon said on Thursday April 5. "Aurizon Network is working with its rail customers in regard to recommencing the unloading of coal tr...Read More
The Supreme Court of India has given the nod to the transport of royalty-paid iron ore from the Indian state of Goa. "We are of the view that the iron ore which is royalty paid and which is lying on the jetties on or before March 15, 2018 should be permitted to be loaded on the barges and on the vessels so that they can be transported to their destinations," the court ruled on Wednesday April 4. T...Read More
Zinc prices on the London Metal Exchange came under further pressure during morning trading on Thursday April 5, with on-warrant stocks rising 16%. The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to 166,650 tonnes. The rest of the complex made a slight recovery with potential talks...Read More
Base metals prices on the London Metal Exchange are mixed this morning, Thursday April 5. The main movers are nickel, with prices up by 0.6% at $13,230 per tonne, and zinc where prices are down by 0.5% at $3,237 per tonne. Copper prices are up by 0.1% at $6,721 per tonne.Volume has been light with 2,187 lots traded as of 06.46 am London time, this because China is off for the rest of the week to m...Read More
Base metals prices on the London Metal Exchange were all higher during Asian morning trading on Thursday April 5 amid hopes that talks between the United States and China could avert a global trade war.The LME three-month copper price was at $6,747 per tonne as of 03.29am London time, up by $23 per tonne from Wednesday's closing price. A total of 226 lots of the contract have traded so far. The co...Read More
Brazilian tube, bar and stainless steel distributor Grupo A??otubo hopes to increase its revenues by 20% in 2018, benefiting from a rebound in the local industrial sector.The company's gross revenues are expected to reach 900 million Reais ($269 million) this year, compared with 760 million Reais in 2017, financial director Wilson Bassi told Metal Bulletin on Thursday April...Read More