Crude steel output in Argentina increased 18% year on year in January, according to figures released by national steel association Acero Argentino on Tuesday February 20.Production came to 343,800 tonnes in January 2018, up from 291,300 tonnes a year before.But January's output fell 9.7% from December 2017's crude steel production of 380,080 tonnes due to maintenance work being carried out by loca...Read More
The Section 232 report announced by the US Commerce Secretary Wilbur Ross is expected to hit prices in Turkish steel and scrap markets if approved, according to market participants.US Commerce Secretary Wilbur Ross said President Donald Trump and his administration are considering massive across-the-board tariffs and restrictive quotas following the department's Section 232 investigation into stee...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
The steel mills in Turkey continued their deep-sea scrap purchases on Tuesday February 20 but at a slow pace, Metal Bulletin was told.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) and 5,000 tonnes of rail at an average price of $355 per tonne cfr.The cargo was scheduled to be shipped by the second half of March, sources said.As a r...Read More
Iron ore prices remained unchanged at $78 per tonne cfr China with market participants still away for the Chinese New Year celebrations.Metal Bulletin's 62% Fe Iron Ore Index Today: $78.43 per tonne cfr Qingdao Daily change: unchanged Month-to-date average: $76.71 per tonne Metal Bulletin's...Read More
The Section 232 report announced by the US Commerce Secretary Wilbur Ross is expected to hit prices in Turkish steel and scrap markets if approved, according to market participants.US Commerce Secretary Wilbur Ross said President Donald Trump and his administration are considering massive across-the-board tariffs and restrictive quotas following the department's Section 232 investigation into stee...Read More
The imposition of import tariffs and/or quotas by the US government on aluminium and aluminium products could push Asian premiums up in the short term but drive them down in the long term, market participants said.US Secretary of Commerce Wilbur Ross on Friday February 16 recommended a series of tariffs and/or quotas in addition to existing duties in place on aluminium and steel imports following...Read More
Charge chrome import prices in China moved higher, South African producers raised their offers following the appreciation of the rand and prices weakened both in Europe and the United States. Charge chrome import prices edge higherOre and domestic alloy prices unchanged in ChinaPrices increase in Japan, hold in South KoreaAlloy prices dip in Europe and US Charge chrome prices edged up in China on...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More
MELBOURNE Feb 20 (Reuters) - Shares of battery and technology metals developer Australian Mines Ltd surged on Tuesday after the company signed an offtake agreement with South Korean battery maker SK Innovation for nickel and cobalt from its Sconi project.The commodity off-take agreement, which is for an initial period of 7 years, is for SK Innovation's newly developed battery manufacturing plant...Read More
(Kitco News) - The gold sector could see a supply crunch on the horizon as investment capital flows into other metals, according to a report from EY.The report from the research firm shows that value of merger and acquisitions in the mining sector increased 15% in 2017; however, the number of transactions declined by 6% last years.“Last year we saw fewer deals but at better values. In 2018,...Read More
* Prokhorov sells 6 pct of Rusal to Vekselberg and partners* Sale will reduce Prokhorov's stake in Rusal to zero* Vekselberg, partners to boost stake in Rusal to 26.5 pct (Adds details, context)By Polina DevittMOSCOW, Feb 19 (Reuters) - Russian businessman Mikhail Prokhorov has agreed to sell a 6 percent stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor...Read More
MOSCOW, Feb 19 (Reuters) - Russian businessman Mikhail Prokhorov has agreed to sell a 6 percent stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday.After the deal, Vekselberg and his partners will hold 26.5 percent of Rusal, the consortium said. (Reporting by Polina Devitt; editing by Adrian Croft...Read More
* Analysts say dollar weakness to continue * Speculators cut net gold longs in the week to Feb. 13 * SPDR Gold holdings rise 0.4 percent on Friday(Updates throughout, adds LONDON dateline) By Zandi ShabalalaLONDON, Feb 19 (Reuters) - Gold prices were mostly flat on Monday as the dollar clawed back some recent losses and stocks rose, but U.S. inflation fears kept buyers in the metal.Spot gold was f...Read More
The equity markets are closed today; however, the futures markets are open. Equity futures are higher which would have led to the seventh day in a row of gains. Just three weeks ago, equities looked like they were going to collapse. Now they look like they may never go down again. Will the “rip your face off” rally continue or will Darth Vader return? Gold has followed a very similar p...Read More