Turkish steel services provider Coskunoz and Russian steelmaker Magnitogorsk Iron & Steel Works (MMK) opened a steel service center in Alabuga, Tatarstan, on Monday May 14.The center will have processing capacity for 150,000 tonnes per year and will offer sheet metal bending and piercing services to the automotive sector.Its potential customers will include...Read More
SHANGHAI, May 16 (SMM) – Spot copper in the Shanghai market was offered at a discount of 120-80 yuan/mt over the SHFE 1806 contract on the morning of Wednesday May 16, SMM learned.This compared with a discount of 10 yuan/mt to a premium of 60 yuan/mt over the SHFE 1805 contract in the previous morning. The SHFE 1805 contract was delivered on Tuesday with a settlement price of 50,910 yua...Read More
SHANGHAI, May 16 (SMM) –Copper: Base metals faced resistance as US Treasury yields touched a seven-year high and as the US dollar strengthened last night. LME copper lacked upward momentum after it rose to a high of $6,905/mt, and fell to a low of $6,765/mt as the US dollar gained. The SHFE 1807 contract also dipped overnight as its LME counterpart weakened. The contract is likely...Read More
SHANGHAI, May 16 (SMM) –Copper: Base metals faced resistance as US Treasury yields touched a seven-year high and as the US dollar strengthened last night. LME copper lacked upward momentum after it rose to a high of $6,905/mt, and fell to a low of $6,765/mt as the US dollar gained. The SHFE 1807 contract also dipped overnight as its LME counterpart weakened. The contract is likely...Read More
Atrico is a corporate advisory firm with a focus on mining technology firms.Co-founder and managing director Ivan Gustavino was a founding shareholder of mining software player Surpac and has been involved in the space for 30 years."In my view, there has never been a better time to invest in METS [mining, equipment, technology and services]," Gustavino told METSStocks Sydney, part of the inaugural...Read More
SHANGHAI, May 16 (SMM) –Copper: Base metals faced resistance as US Treasury yields touched a seven-year high and as the US dollar strengthened last night. LME copper lacked upward momentum after it rose to a high of $6,905/mt, and fell to a low of $6,765/mt as the US dollar gained. The SHFE 1807 contract also dipped overnight as its LME counterpart weakened. The contract is likely...Read More
Tata Steel, "continues to be bullish on steel prices and spreads with the improving demand situation in India," chief executive officer and managing director, TV Narendran, said on Wednesday May 16.Finished steel demand in India is forecast to reach 92 million tonnes in 2018, up from 87 million tonnes in 2017. Indian steel demand will rise to 98 million tonnes in 2019, according to Tata Steel's Ma...Read More
Ken Osgood, professor of humanities, arts and social sciences at Colorado School of Mines, was inteviewed by KDVR Fox31 Denver about the 3,500 Facebook ads created or promoted by a Russian internet agency that were recently released by Democrats on the House intelligence committee.Osgood is a specialist on U.S. politics and diplomacy. His research interests include the history of propaganda and in...Read More
Gulf Co-operation Council (GCC) countries are finding common ground over the threat fromsteel being redirected as a result of the United States decision to impose tariffs on imports.Saeed Al Remeithi, ceo of the United Arab Emirates biggest steelmaker, Emirates Steel, said that GCC countries were acutely aware of the issue and are keen to limit the impact of steel being redirected from t...Read More
He recently took a few moments out of his day to run Mining Journal through some of the trials and tribulations that have carried him to his current position - at the helm of one of the leading people companies in the sector. Mining Journal: How did you get started in mining? John Murray: I was working for the Western Australia Department of Sport and Recreation looking at how they might...Read More
Salzgitter expects its earnings to rise in 2018 despite "strained market conditions," the German steelmaker said in its first-quarter results published on Tuesday May 14.The company expects volatility in raw materials prices as well as "massive distortions of competition in countries outside the EU, and sustained import pressure and foreign policy developments," it said.Salzgitter raised its full-...Read More
"From the DRC and South Africa to Mongolia and Australia … it is gaining momentum," he told a metals, mining and steel conference in Miami yesterday."As a result, the case for investment and FDI [foreign direct investment] is clearly under threat."Over the past 18 months, numerous countries have started seeking greater stakes or returns from mining operations as commodity prices have improv...Read More
Tata Steel, "continues to be bullish on steel prices and spreads with the improving demand situation in India," chief executive officer and managing director, TV Narendran, said on Wednesday May 16.Finished steel demand in India is forecast to reach 92 million tonnes in 2018, up from 87 million tonnes in 2017. Indian steel demand will rise to 98 million tonnes in 2019, according to Tata Steel's Ma...Read More
Base metals on the London Metal Exchange recorded mixed figures at the close of trading on Wednesday May 16, with low volumes traded and broad consolidation in effect across the complex amid a surging dollar. Climbing 0.3% during the afternoon, nickel's three-month price continues to find support above $14,000 per tonne, reaching a high of $14,635 per tonne today. Nickel's core support from t...Read More
Gulf Co-operation Council (GCC) countries are finding common ground over the threat fromsteel being redirected as a result of the United States decision to impose tariffs on imports.Saeed Al Remeithi, ceo of the United Arab Emirates biggest steelmaker, Emirates Steel, said that GCC countries were acutely aware of the issue and are keen to limit the impact of steel being redirected from t...Read More
Domestic prices for heavy steel plate in Europe have been largely unchanged over the past week in a quiet market, sources told Metal Bulletin on Wednesday May 16."The market is stable and slow, and there is no significant pressure on domestic prices because mills [particularly in Northern Europe] are well booked," a trader said.Metal Bulletin's weekly...Read More
The latest metal markets news and price moves to start the North American day on Wednesday May 16. Base metals on the London Metal Exchange edged higher during morning trading, with tin the only metal recording a downward move. But lead recently recorded a $17 fall to $2,339.50 per tonne. Here is how the base metals complex looked at 12.18pm London time: Read our latest futures report for mor...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday May 15.Base metals prices on the Shanghai Futures Exchange diverged during Asian morning trading on Wednesday, with rising stocks and a surge in the dollar sinking copper.Check Metal Bulletin's live futures report here.SHFE snapshot at 11.01am Shanghai timeMost-traded SHFE contracts&...Read More
Did 2,500 people just vanish in Las Vegas?I couldn’t figure it out!As I walked down the hallway past the exhibit hall and towards the convention ballroom I didn’t see a single soul. It was like a ghost town!This week, I’m attending The Money Show in sunny Las Vegas, Nevada. I’ve been to the show many times, and every year I learn something new about a few companies I’...Read More
The lower revenues from reduced London Metal Exchange trading fees - seen when HKEX, the exchange's owner, published its first-quarter results last week - is unsurprising and should not be a cause for mutterings at the current LME Asia Week gathering in Hong Kong. First-quarter revenue from HKEX' commodities business was down 7% from a year earlier - despite a 20% year-on-year jump in average dail...Read More