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
KINSHASA, Dec 31 (Reuters) - Congolese police and soldiers on Sunday set up checkpoints across the capital Kinshasa and fired teargas at opposition supporters outside a church where they had gathered to prevent planned protests against President Joseph Kabila. Authorities ordered internet and SMS services cut in response to calls by Catholic activists to march after Sunday mass. The activists are...Read More
For the third consecutive week, gold has rallied. This culminates with today’s nine dollar move, effectively taking prices above $1300 on a closing basis. Beginning in mid-December when the former correction ran its course, gold has closed higher week in and week out. The net result of this rally, when added to gains realized in 2017, is a 13% increase in value.While a 13% price gain is abso...Read More
(Adds details, context)GOMA, Democratic Republic of Congo, Dec 30 (Reuters) - D emocratic Republic of Congo's government on Saturday ordered telecommunications providers to cut internet and SMS services across the country ahead of planned anti-government demonstrations.Grassroots Catholic activists have called for marches in major cities on Sunday to demand that President Joseph Kabila commit to...Read More
GOMA, Democratic Republic of Congo, Dec 30 (Reuters) - D emocratic Republic of Congo's government on Saturday ordered telecommunications providers to cut internet and SMS services across the country ahead of planned anti-government demonstrations on Sunday."It is for reasons of state security ... In response to violence that is being prepared ... the government has the duty to take all measu...Read More
* LME/ShFE arb: * Market looking at potential for 2018 supply disruptions* Rising China aluminium stocks suggest surplus* Zinc builds on 2016 gains, analysts see higher 2018 levels (Adds closing prices)By Pratima DesaiLONDON, Dec 29 (Reuters) - China's war on polluting industries, its supply reforms and robust demand growth have this year combined to create a bonanza for copper and aluminium whic...Read More
Spot copper concentrate treatment and refining charges fell to a four-month low in line with a lower annual TC/RC agreed between Freeport McMoRan and Tongling Nonferrous.Freeport will supply China's largest copper smelter, Tongling, with copper concentrates at a TC/RC of $82,25 per tonne /8.225 cents per pound, 11% and around $10/1 cent lower than this year's benchmark.Jiangxi Copper, the second-l...Read More
Spot copper concentrate treatment and refining charges fell to a four-month low in line with a lower annual TC/RC agreed between Freeport McMoRan and Tongling Nonferrous.Freeport will supply China's largest copper smelter, Tongling, with copper concentrates at a TC/RC of $82,25 per tonne /8.225 cents per pound, 11% and around $10/1 cent lower than this year's benchmark.Jiangxi Copper, the second-l...Read More
Spot copper concentrate treatment and refining charges fell to a four-month low in line with a lower annual TC/RC agreed between Freeport McMoRan and Tongling Nonferrous.Freeport will supply China's largest copper smelter, Tongling, with copper concentrates at a TC/RC of $82,25 per tonne /8.225 cents per pound, 11% and around $10/1 cent lower than this year's benchmark.Jiangxi Copper, the second-l...Read More
Spot copper concentrate treatment and refining charges fell to a four-month low in line with a lower annual TC/RC agreed between Freeport McMoRan and Tongling Nonferrous.Freeport will supply China's largest copper smelter, Tongling, with copper concentrates at a TC/RC of $82,25 per tonne /8.225 cents per pound, 11% and around $10/1 cent lower than this year's benchmark.Jiangxi Copper, the second-l...Read More
Turkey's imports of flat steel increased by 25.09% year on year in November 2017, according to the Turkish Statistical Institute (TUIK). The country imported 758,499 tonnes of flat steel, compared with 606,378 tonnes in November 2016, TUIK statistics published on Friday December 29 showed. The increase in imports was attributed to the fact that the November deliveries were mostly booked in July, w...Read More
The Turkish deep-sea scrap market remained quiet at the end of the week due to the New Year holiday period.Turkish steel producers paused their deep-sea bookings at the end of the week but were expected to continue to book more cargoes for February, Metal Bulletin was told on Friday...Read More
Improved demand and higher prices have been a welcome change for tungsten market participants outside China this year, but when it comes to price moves and price floors, China still holds the cards. Benchmark ammonium paratungstate (APT) prices assessed by Metal Bulletin - and used across the tungsten supply chain - were at $295-300 per mtu, cif Rotterdam on Friday December 15.By contrast, prices...Read More
Improved demand and higher prices have been a welcome change for tungsten market participants outside China this year, but when it comes to price moves and price floors, China still holds the cards. Benchmark ammonium paratungstate (APT) prices assessed by Metal Bulletin - and used across the tungsten supply chain - were at $295-300 per mtu, cif Rotterdam on Friday December 15.By contrast, prices...Read More