While not exactly a "State-Of-The-Union" address this week, the London Metal Exchange's Update Forum in London - open to all - was a useful pit-stop event on what is gearing up to be a busy few months in its unfolding Strategic Pathway. On a widespread and varied menu, LME decisionmakers outlined current thinking and plans across the board. Among these are a couple of potentially tricky initiative...Read More
Vale's fall in iron ore production in the first quarter of 2018 will not affect the Brazilian miner's output guidance for the year, executive officer for ferrous minerals and coal Peter Poppinga said this week."We continue [to be] committed to the 390 million tonnes production target,"' he told analysts during a conference call on Thursday April 26.Vale's first quarter iron ore output&nb...Read More
Minera Escondida has ended early talks with its unionized workers aimed at agreeing a new labor deal, the Chilean copper producer said.The miner and the parties have been in direct talks since the end of March but they failed to meet the conditions for extending the process, the BHP-operated miner said on Thursday April 26."We have [been flexible], clearing from the beginning the main points that...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday April 26.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday, with zinc prices leading the decline following a large delivery of the metal into London Metal Exchange sheds in Antwerp on Wednesday. Check Metal Bulletin's live f...Read More
While not exactly a "State-Of-The-Union" address this week, the London Metal Exchange's Update Forum in London - open to all - was a useful pit-stop event on what is gearing up to be a busy few months in its unfolding Strategic Pathway. On a widespread and varied menu, LME decisionmakers outlined current thinking and plans across the board. Among these are a couple of potentially tricky initiative...Read More
Losses in job and output terms in metals-consuming sectors in the United States in the fallout from the Section 232 probe threaten to outweigh any benefits to domestic metal-producing industries from the tariffs the US government subsequently introduced.In turn, the prices of metals that are strongly correlated to the performance of metal-consuming sectors - such as AISI 4130, a widely used medium...Read More
David Rawlinson, Mark Shaer and Darren Fowler have left the base metals trading desk of ADM Investor Services International (Admisi), Metal Bulletin understands.The London-based trading personnel will join Macquarie Bank, industry sources said.Admisi...Read More
Losses in job and output terms in metals-consuming sectors in the United States in the fallout from the Section 232 probe threaten to outweigh any benefits to domestic metal-producing industries from the tariffs the US government subsequently introduced.In turn, the prices of metals that are strongly correlated to the performance of metal-consuming sectors - such as AISI 4130, a widely used medium...Read More
Base metal prices on the London Metal Exchange steadied at the close of trading on Thursday April 26, while aluminium climbed 1.3% during the afternoon. "Afternoon news that Oleg Deripaska has no plans to restructure Rusal, sent aluminium prices quickly higher, through $2,300-2,315.20 per tonne area, adding to underlying market volatility and tightening of the spreads," Liz Grant, senior account e...Read More
While not exactly a "State-Of-The-Union" address this week, the London Metal Exchange's Update Forum in London - open to all - was a useful pit-stop event on what is gearing up to be a busy few months in its unfolding Strategic Pathway. On a widespread and varied menu, LME decisionmakers outlined current thinking and plans across the board. Among these are a couple of potentially tricky initiative...Read More
Comex copper prices were once again trading in negative territory on Thursday April 26 morning in the US, with the bolstered dollar weighing on the complex.Copper for May settlement on the Comex division of the New York Mercantile Exchange declined 1.50 cents or 0.5% to $3.1195 per lb. The contract has been unable to set a clear price direction in recent weeks. Over the past few days, the...Read More
Brazilian iron ore pellet producer Samarco will aim to resume production at the beginning of 2019, "in the best scenario," chief executive officer, Fabio Schvartsman, said."We are struggling to resume activities, but we don't have control over this because it depends on [Brazilian] environmental agencies," Schvartsman told analysts during a conference call on Thursday April 26.Samarco is a 50:50 j...Read More
Domestic prices for heavy steel plate in Europe have moved down slightly this week but are expected to recover in May, sources told Metal Bulletin on Thursday April 26."There is some resistance currently from buyers, and plate prices have weakened a bit, but I think this situation is temporary," an Italian source said.Plate prices are expected to be supported by a recovery in restocking activity a...Read More
David Rawlinson, Mark Shaer and Darren Fowler have left the base metals trading desk of ADM Investor Services International (Admisi), Metal Bulletin understands.The London-based trading personnel will join Macquarie Bank, industry sources said.Admisi...Read More
Brazilian mining company Nexa Resources has received the preliminary environmental license for its $354 million Aripuan?? underground zinc-lead-copper project in Brazil.Brazilian mining company Nexa Resources has received the preliminary environmental license for its $354 million Aripuan?? underground zinc-lead-copper project in Brazil.The license "is one important milestone for the implementation...Read More
Lead recycler Recylex's sales dropped by more than one-fifth year-on-year to ?,?95.3 million ($116.2 million) in the first three months of 2018 due to a maintenance shutdown at a major smelter and falling prices for lead, the company said on Thursday April 26.Sales of lead sales accounted for more than 60% of the company's total sales, and dropped by almost one-third to ?,?59.6 million during the...Read More
Comex copper prices were once again trading in negative territory on Thursday April 26 morning in the US, with the bolstered dollar weighing on the complex.Copper for May settlement on the Comex division of the New York Mercantile Exchange declined 1.50 cents or 0.5% to $3.1195 per lb. The contract has been unable to set a clear price direction in recent weeks. Over the past few days, the...Read More
Latin America's steel group Ternium expects apparent steel consumption in Argentina to rise by 9% this year with the economy continuing to recover."This year, the Argentinian gross domestic product [GDP] will grow for the second consecutive year. That has not happened in the country for a while," chief executive officer Maximo Vedoya said on Thursday April...Read More
The Mexican government is analyzing whether to renew a 15% tariff against imports of various steel products from countries with which Mexico does not have free trade agreements, according to Latin American steel group Ternium."Mexico is on the path to renew the safeguard against steel imports," the company's chief executive officer, Maximo Vedoya, said on Thursday April 26.The measure, which acts...Read More
Sales volumes of semi-finished steel products by Russian steelmaker Evraz dropped by 18.2% year-on-year in the first quarter of 2018 to 1.45 million tonnes, amid reduced crude steel output.Crude steel production from the company's assets in Russia and Ukraine totaled 2.9 million tonnes in the first quarter, down by 10.5% against 3.2 million tonnes in January-March 2017 amid technical issues and th...Read More