The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter Aurubis unconditional approval for the ?,?380 million ($417 million) acquisition of Belgian-Spanish recycler Metallo Group, the company said on Monday May 4.The transaction will formally close on May 29, with Metallo's consolidation into Aurubis taking place on June 1. The investment firm TowerBrook Capita...Read More

Christine Keener has been appointed Alcoa's vice president of operations for Europe and North America, in a new role combining the two operating locations, Fastmarkets understands. The consolidation, effective from Friday May 1, will streamline the management of operating Alcoa's assets and ensuring alignment among common markets, the company said. Keener replaces Jean Francois Cyr and...Read More

The three-month copper price on the London Metal Exchange was lower during morning trading on Monday May 4, with price action losing some 0.8% against low turnover, while the LME tin price also lost ground over the morning. Copper's outright price on the LME was recently seen at $5,065 per tonne, down from Friday's closing price of $5,110 per tonne, while turnover was low over the morning with jus...Read More

Mining and metalworking in Peru will gradually resume in May after a government order on Sunday May 3 targeted key industries for restarts."Exploitation, processing, storage, transportation and closure of mines in the strata of large-scale mining," will be part of an initial phase of business returning to some type of normality, the government said...Read More

Last week's weaker tone in the metals has flowed through into morning trading on Monday May 4, with the three-month base metals on the London Metal Exchange down by an average of 0.6%, led by a 0.9% fall in copper to $5,061 per tonne. With Japan and China closed trading volumes are thin.Market participants likely to focus on European purchasing manager's index (PMI) data and US factory orders. Bas...Read More

Steel mills in the United States appear to be holding firm on hot-rolled coil prices after a round of price increases last week, but it remains to be seen if buyers are picking up tons at those levels. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.83 per hundredweight ($496.60 per short ton) on Monday May 4, up by 4.9% from $23.67 per cwt on Friday May 1 and 7.8...Read More

Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients. Demand for flat steel has continued to drop in the region due to factory closures and weaker end-user consumption stemming from the Covid-19 pandemic. Sellers were already focusing on talks fo...Read More

Turkey exported 305,658 tonnes of flat steel products in March 2020, according to the Turkish Statistical Institute (TUIK).This volume was down by 46.34% year-on-year from the 569,364 tonnes exported in March 2019, the institute said.This meant that the country's total exports of flat steel products for the first three months of the year came to 1,185,141 tonnes.This volume was down by 30.85% from...Read More

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here.Community projects range from delivering critical supplies, to providing counselling and support services to help frontline response workers and the communities. Rio Tin...Read More

Turkey imported 467,201 tonnes of flat steel in March 2020, up by 1.33% from 461,048 tonnes in the corresponding month of 2019, according to the Turkish Statistical Institute (TUIK).The country's total flat steel imports in January-March 2020 totaled 1,821,147 tonnes, an increase of 24.73% from the 1,460,106 tonnes imported in the corresponding period of 2019, TUIK said.Demand for flat steel in th...Read More

Last week’s weaker tone in the metals has flowed through into morning trading on Monday May 4, with the three-month base metals on the London Metal Exchange down by an average of 0.6%, led by a 0.9% fall in copper to $5,061 per tonne. * With Japan and China closed trading volumes are thin.* Market participants likely to focus on European purchasing manager’s index (PMI) data and US facto...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resources"With an upgrade ratio of at least 1.4 on both Tower and Rail, ore sorting has demonstrated an ability to reject low sulphide waste," president and CEO Alistair Ross said.Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootThe Toronto-based company, which mines in Kazakhstan, Canada and now also Turkey, reported an 8% year-on...Read More

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here.Commodities analyst Colin Hamilton said China was heading into its Labour Day holiday on the back of some strong recent data points in the metals sector."There is unifor...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in pre-opening trades.Shopify added $14.30 to $627.94 after KeyBanc Capital raised its target price from $500 to $700.PayPal slipped $0.35 to$120.26 despite KeyBanc Capital raising its target price from $115 to $140.NVIDIA eased $2.40 to $280.38 despite Susquehanna raising its target price from $330 to $55.T...Read More

The Turkish deep-sea scrap import market opened the week quietly on Monday May 4 after an expected drop in prices late on Friday May 1, sources told Fastmarkets.On Friday, a steel mill in the Iskenderun region booked a European cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $236 per tonne cfr, and 7,000 tonnes of bonus at $246 per...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.The first quarter continued the trend of 2019 - for China to actively import relatively cheap metallics and semi-finished steel - but can this be sustained? The answer to this question will come down to the price competitiveness of the products, we believe. One additional incentive to continue to import metallics this year -...Read More

Turkish domestic ship scrap prices went down over the past week on falling imported scrap values, sources said on Monday May 4.Deep-sea scrap import prices weakened once again on May 1, with the news of a fresh European cargo deal.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $242.42 per tonne on May 1, down from $258 per tonne on April...Read More

A short working week for many countries in the global scrap market, coupled with the continuing Covid-19 restrictions, resulted in a dip in demand and falling prices in the week to Friday May 1. Turkey books lower cargoes on reduced output and demand Market in United States remains flat on lack of trading Vietnam market quiet due to public holiday Demand for Taiwan scrap dips India deman...Read More

India has announced that it will extend its countrywide lockdown under the Covid-19 pandemic for a second time, but the creation of high- and low-risk zones in the country has meant that some steel producers were now increasing production levels once more.Indian steelmaking giant JSW has started to ramp-up steel output again after receiving government approval and instituting social-distancing pro...Read More