GFG Alliance, the owner of international metals group Liberty House, has signed a binding agreement to acquire Glencore's 2 million-tpy Tahmoor metallurgical coking coal mine in New South Wales, Australia, it said on Tuesday January 2.The acquisition is expected to be concluded during the first quarter of 2018, following the completion of "customary conditions".Liberty House declined to disclose t...Read More
The Indian imported ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The Indian import ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The introduction of the goods and services tax (GST) in July,&...Read More
Iron ore prices jumped to almost $75 per tonne cfr China on Tuesday January 2 amid higher billet and port prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.71 per tonne cfr Qingdao Daily change: up by $2.10 per tonne Month-to-date average: $74.71 per tonne Metal Bulletin's 58%...Read More
The seaborne iron ore market received some bolstering on the first working day of 2018, with prices for port materials as well as billet rising as well. Key drivers In China's Tangshan, the price of billet rose 40 yuan ($6) per tonne over the weekend to 3,710 yuan per tonne. The price rose a further 20 yuan per tonne on Tuesday to 3,730 yuan per tonne.Premiums for index-linked January-delivery Cap...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction:Global Ore, Vale, 170,000 tonnes of 62%...Read More
The seaborne coking coal market is off to a sluggish start for 2018 with no new firm offers or bids heard while participants continued to sit on the sidelines. "The same offers have been lying there for over a month now but they are unable to spark any interest due to high prices. They will have to be lowered by $10-20 per tonne in order to get the trades done," a northern Chinese mill source told...Read More
China's ferrous futures rose during morning trading on Tuesday January 2 as sentiment improved in the new year, leading to the recovery of trading appetite. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,871 yuan ($594) per tonne, up 70 yuan per tonne May hot-rolled coil: 3,920 yuan per tonne, up 69 yuan per tonneDalian Commodity Exchange May iron ore: 543.50 yuan...Read More
Prices in China for hot-rolled coil narrowed upward in Shanghai on Tuesday January 2 following the rising paper market, but dipped in Tianjin on poor demand.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($658-661) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Tianjin): 4,150-4,180 yuan per tonne, down by 20 yuan per tonneThe northern Chinese market remained weak amid poor dem...Read More
China's domestic rebar prices rose on Tuesday January 2 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 4,280-4,330 yuan ($657-665) per tonne, up 30 yuan per tonne Northern China (Beijing): 4,020-4,050 yuan per tonne, up 20 yuan per tonne Billet prices rose during the New Year weekend, which returned some bullishness to the rebar market. The increases in the paper...Read More
The Singapore Bullion Market Association (SBMA) has appointed Martin Huxley, managing director of INTL Asia, as its chairman effective December 14, 2017, the association said on Tuesday January 2.INTL Asia is a subsidiary of INTL FCStone. Huxley succeeds Sunil Kashyap from the Bank of Nova Scotia who has ended his two-year chairman tenure. Huxley joined INTL FCStone in...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating this morning, Tuesday January 2, with lead the exception where prices are up 0.6% at $2,514 per tonne. The rest are little changed with copper prices at $7,254 per tonne, but trading volume has been high at 11,821 lots as of 7.30am London time. This comes after an overall positive close to the year on Friday Decemb...Read More
Two newly-built antimony smelters outside China will bring production into the physical market in 2018, significantly altering the global antimony supply structure.The two smelters, one located in Oman and the other in Tajikistan, have production capacities of 20,000 tonnes per year (tpy) and 5,000 tpy, respectively, representing approximately 12% and 3% of average annual world antimony produ...Read More
Gold prices were up inthe Tuesday morning Asia trading session as the dollar weakened further.The spot gold price was recently quoted at $1,306.35.50/1,306.65 per oz, up $3.7 from the previous trading day's close. Trade has ranged from $1,304.25 to $1,307.50 per oz so far today. The US dollar index on Tuesday morning was down 0.08 to 92.22."As global complacency over the trajectory of US rates con...Read More
Spanish stainless steelmaker Acerinox will invest ?,?5 million ($6 million) in a new cutting and slitting line at its Columbus stainless steel mill in South Africa, it said last week.The new line will allow the Columbus mill, which has capacity for 500,000 tonnes per year, to increase exports by 3,000 tonnes per month, Acerinox said on December 26."This new equipment will also increase direct sale...Read More
European alloy surcharges for January deliveries of grade-304 cold-rolled (CR) stainless steel sheet have fallen month-on-month amid lower nickel costs.The January alloy surcharge for 2mm grade-304 CR stainless steel sheet - compiled by Metal Bulletin based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,240-1,301 ($1,488-1,561) per tonne.This represents a fall of ?,?59-80 per tonne...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Prices are likely to rise in the eurozone manufacturing sector this year following the purchasing managers' index (PMI) for the region reaching a record high in December 2017, data organization IHS Markit said on Tuesday January 2.December's final manufacturing PMI for the eurozone was 60.6, compared with 60.1 in July, amid strong expansions in new orders and output. The reading was the highest re...Read More
By Maki ShirakiNAGOYA, Japan, Jan 1 (Reuters) - Japan's Mitsubishi Heavy Industries Ltd is on track to deliver its repeatedly delayed commercial jet by mid-2020, the head of its aircraft unit said, despite a risk of an order cancellation.The Mitsubishi Regional Jet (MRJ) aircraft has been delayed five times from an original delivery target of 2013, leading to spiralling costs. News this month tha...Read More
DAKAR, Dec 31 (Reuters) - Congolese security forces shot dead two men in the capital Kinshasa on Sunday during protests against President Joseph Kabila's refusal to step down from office, Human Rights Watch said. The two men were killed outside St. Alphonse church in Kinshasa's Matete district, the advocacy group's Central Africa director, Ida Sawyer, told Reuters. (Reporting by Aaron Ross; Edit...Read More
(Updates death toll)KINSHASA, Dec 31 (Reuters) - Congolese security forces killed at least four people on Sunday during protests against President Joseph Kabila's refusal to step down from office, according to the police and rights groups. Three people were killed in altercations with security forces in the capital, Kinshasa, police spokesman Pierrot Mwanamputu said. Rights groups said at least t...Read More