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Current News Search

Metal News & Reports (GMT)

    • NEWS | 12 Feb 20:45
    • Tenaris wins award for Venezuela ore asset seizure
    • Caracas, 12 February (Argus) — A World Bank arbitration panel has awarded Luxembourg-based steel pipe manufacturer Tenaris and its trading subsidiary Talta over $172.8mn in compensation and interest for the May 2009 expropriation of its 1.5mn t/y Matesi HBI plant and associated export te
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    • NEWS | 12 Feb 20:00
    • US stainless producers allege Chinese dumping
    • New York, 12 February (Argus) — Four US stainless steel producers have filed a petition with the US International Trade Commission seeking antidumping and anti-subsidy duties against imports of Chinese stainless steel sheet and strip. AK Steel, ATI Flat Rolled Products, North American S
    • Read more
    • COMMENTARY | 12 Feb 18:46
    • US stainless scrap prices fall on lower nickel
    • Houston, 12 February (Argus) — US stainless steel scrap prices weakened in the latest week, as nickel prices on the London Metal Exchange fell to their lowest levels since April 2003 on the back of swooning prices of equities, crude and other commodities. Processor buying prices for Typ
    • Read more
    • NEWS | 12 Feb 17:49
    • US aluminum scrap export prices flat
    • Houston, 12 February (Argus) — US aluminum scrap export prices were unchanged this week as China celebrated its lunar new year holidays, Japanese demand slowed and domestic secondary prices strengthened. Shredded scrap prices for zorba, 94pc metallic with 3-4pc red metal content, held u
    • Read more
    • COMMENTARY | 12 Feb 17:49
    • Secondary aluminum alloy prices up on tight scrap
    • Houston, 12 February (Argus) — Secondary aluminum alloy prices increased this week as producers paying more to secure smelter-grade scrap passed costs onto consumers. Prices for the most produced alloy by volume, A380.1, increased to 86-87¢/lb from 85-86¢/lb a week earlier, inching up t
    • Read more
    • NEWS | 12 Feb 17:18
    • European secondary aluminum prices flat
    • Houston, 12 February (Argus) — Prices of secondary aluminum ingots held unchanged in the latest week in both the UK and Europe, reflecting the high cost of scrap raw material in the face of declining aluminum on the London Metal Exchange (LME). Selling prices for DIN 226 die casting ing
    • Read more
    • COMMENTARY | 12 Feb 16:34
    • LME copper, aluminium fall on global stock selloff
    • London, 12 February (Argus) — London Metal Exchange copper and aluminium prices ended the week lower as equity market volatility, which saw an estimated £1tn wiped off the value of global stocks, spilled into the metal markets. Copper futures traded at $4,497/t on Friday compared with
    • Read more
    • COMMENTARY | 12 Feb 16:13
    • LME nickel falls to fresh lows, tin, lead rise
    • London, 12 February (Argus) — London Metal Exchange lead and tin traded higher this week mainly because they were spared the speculative sell-off seen in other metals markets. Nickel and zinc traded lower after a sharp decline in global stock markets, which lost $1tn in value in the week
    • Read more
    • NEWS | 12 Feb 15:58
    • DJ Comex Futures Open Interest
    • DJ Comex Futures Open Interest - Feb 12 Data for previous business day. Open Interest subject to revision. Source: CME Group Gold Open Open Interest Change Silver Interest Change GC G16 736 -225 SI G16 47
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    • NEWS | 12 Feb 15:46
    • Almonty signs 5 year tungsten supply deals
    • Sao Paulo, 12 February (Argus) — Canada-based metals company Almonty Industries has signed a five year offtake deal for its Panasqueira tungsten project in Portugal, which it acquired for the second time in January. The tungsten producer has also signed an agreement extending its existi
    • Read more
    • NEWS | 12 Feb 13:09
    • DJ Comex Futures Volume
    • DJ Comex Futures Volume - Feb 12 For previous business day. In contracts. Source: CME Group Composite Composite Globex Gold Volume Globex Silver Volume Volume GC G16 995 995 SI G16 58
    • Read more
    • NEWS | 12 Feb 13:06
    • DJ Comex Globex Final Volumes
    • DJ Comex Globex Final Volumes - Feb 12 For previous business day, in contracts. Source: CME Group Futures Gold 370,980 Silver 110,609 Copper 80,359 Write to Linda Rice at csstat@dowjones.com (END) Dow Jones Newswires February 12, 2
    • Read more
    • NEWS | 12 Feb 08:05
    • DJ Eurozone Economy Grows Steadily but Outlook Darkens
    • FRANKFURT #8212;Robust domestic consumption kept Germany's economy on a steady yet modest growth path at the end of last year, despite weak exports and growing headwinds from the global economy, official data showed Friday. Germany's gross domestic product grew at a quarterly rate of 0.3% in t
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    • NEWS | 12 Feb 00:10
    • BlueScope Steel writes up $700mn on Cargill buyout
    • Houston, 12 February (Argus) — BlueScope Steel plans to write up $700mn for the existing 50pc interest in the North Star BlueScope Steel that it acquired from commodity trading group Cargill. The transaction gave Australia-based BlueScope Steel 100pc ownership of what was previously a
    • Read more
    • COMMENTARY | 11 Feb 23:56
    • Secondary aluminum scrap prices firm on tightness
    • Houston, 11 February (Argus) — US secondary aluminum scrap prices rose this week for most grades as ingot makers were squeezed by tight supply. Old cast aluminum scrap increased to 55-57¢/lb from 54-56¢/lb a week earlier as multiple market participants reported scarcity and some quoted
    • Read more
    • NEWS | 11 Feb 23:56
    • Allegheny Technologies rebuts lockout complaint
    • Houston, 11 February (Argus) — Allegheny Technologies (ATI) plans to "vigorously challenge" a complaint issued by the National Labor Relations (NLRB) Board in regards to the lockout of employees in the company's flat rolled products business. NLRB filed a complaint against ATI in Decemb
    • Read more
    • NEWS | 11 Feb 23:37
    • Sapa upbeat on aluminum extrusion demand
    • Houston, 11 February (Argus) — North American demand for extruded products grew by 1pc in the fourth quarter of 2015 compared to the same period a year earlier, according to Norwegian aluminum extrusion joint venture Sapa. The region's annual demand for extrusions increased by 5pc in 20
    • Read more
    • NEWS | 11 Feb 23:33
    • Paranapanema copper exports offset local downturn
    • Paranapanema copper exports offset local downturn Sao Paulo, 11 February (Argus) — Brazilian copper producer and smelter Paranapanema expects to continue to target export sales in 2016 as part of a strategy to combat the severe domestic market downturn and low commodity prices. "Copper
    • Read more
    • NEWS | 11 Feb 23:12
    • Carpenter Tech headquarters moving to Philadelphia
    • New York, 11 February (Argus) — Pennsylvania-based specialty alloy producer Carpenter Technologies plans to relocate its headquarters to Philadelphia in late 2016 from its current Wyomissing, Pennsylvania, location. Carpenter is in the process of reviewing offices in Philadelphia to sel
    • Read more
    • NEWS | 11 Feb 23:05
    • Paranapanema copper exports offset local downturn
    • Paranapanema copper exports offset local downturn Houston, 11 February (Argus) — Brazilian copper producer and smelter Paranapanema expects to continue to target export sales in 2016 as part of a strategy to combat the severe domestic market downturn and low commodity prices. Introduction
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    • NEWS | 11 Feb 22:10
    • Outokumpu Americas shipments fall in 2015
    • New York, 11 February (Argus) — Finnish-based stainless steel producer Outokumpu shipped 5.9pc less stainless steel from its Coil Americas segment during a "difficult" operating environment in 2015. Coil Americas sold 509,000t of stainless steel, down from 541,000t in 2014. The segment
    • Read more
    • NEWS | 11 Feb 22:01
    • Essar Steel Algoma begins sales process
    • Houston, 11 February (Argus) — Indian-owned Essar Steel Algoma commenced the sale and investment solicitation process (SISP) for its facilities located in Canada. The Ontario-based company, a member of the India-based Steel Algoma group, secured a $200mn debtor-in-possession (DIP) fina
    • Read more
    • COMMENTARY | 11 Feb 21:59
    • US metcoal: Prices mixed
    • US metcoal: Prices mixed Houston, 11 February (Argus) — Prices of US coking coal for export were mixed in the latest week amid quiet trading as global equities and commodities including crude fell on concerns of a deepening slowdown. Coal buyers and traders in the Pacific rim area were l
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    • NEWS | 11 Feb 21:37
    • US lawmakers pass trade legislation: Update
    • Updates with President Barack Obama's plan to sign the bill. Houston, 11 February (Argus) — The US Senate today passed legislation designed to enhance enforcement tools for the US Customs and Border Protection agency in an effort to ensure that proper duties are collected on US import
    • Read more
    • COMMENTARY | 11 Feb 20:18
    • European nickel cathode premiums fall
    • Houston, 11 February (Argus) — Premiums for nickel cathodes in Rotterdam warehouses fell by $10/t for larger lots this week, while premiums for single truckload business stayed unchanged. Buyers of multiple truckloads paid around $40/t this week, down from $50/t a week earlier. Meanwhi
    • Read more
    • NEWS | 11 Feb 19:04
    • European stainless steel scrap falls
    • Houston, 11 February (Argus) — European stainless steel scrap prices dropped by a penny/lb in the latest week, tracking weakness in London Metal Exchange (LME) pricing where nickel settled today at its lowest this year. Northern European stainless steel scrap traded at 41-42¢/lb. for 30
    • Read more
    • NEWS | 11 Feb 18:27
    • US lawmakers pass trade legislation
    • Houston, 11 February (Argus) — The US Senate today passed legislation designed to enhance enforcement tools for the US Customs and Border Protection agency in an effort to ensure that proper duties are collected on US imports, including duties on steel and other metals. The Trade Facil
    • Read more
    • NEWS | 11 Feb 18:11
    • Study supports Altura Pilangoora Li project
    • Johannesburg, 11 February (Argus) — Perth-based explorer Altura Mining said today a pre-feasibility study supports a base case operation producing 2.8mn t of spodumene concentrate over a 19-year period at its Pilangoora lithium prospect in Western Australia. Study confirms the potential
    • Read more
    • NEWS | 11 Feb 17:58
    • US FeCr imports fall in December
    • New York, 11 February (Argus) — US ferro-chrome imports continued to fall in December, while all grades were down for the year 2015 compared with the year earlier, said data from the US International Trade Commission (ITC). Ferro-chrome imports containing more than 4pc carbon (C) were r
    • Read more
    • NEWS | 11 Feb 16:25
    • Nemak boosts output, profit in fourth quarter
    • Houston, 11 February (Argus) — Mexico-based aluminum die caster Nemak increased output by 9pc in its fourth fiscal quarter compared to the same period a year earlier. The company produced approximately 372mn lbs of products, up from 342mn lbs a year earlier, as customers and North Ameri
    • Read more
    • NEWS | 11 Feb 13:18
    • Canada's Ivanhoe develops world’s largest PGM mine
    • Canada's Ivanhoe develops world's largest PGM mine Johannesburg, 11 February (Argus) — Canadian-listed resources group Ivanhoe Mines is on track to develop its Platreefs project in South Africa into the world's largest platinum group metals mine. Speaking at the Investing in African Mi
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    • NEWS | 11 Feb 12:52
    • Rwanda signs minor metals mining deals
    • London, 11 February (Argus) — The Rwanda Development Board has signed three large-scale mining agreements for the extraction of tin, tantalum, tungsten and niobium with Canada-based exploration firm TriMetals Mining. The deals allow TriMetals to mine for cassiterite, columbite and wolfr
    • Read more
    • NEWS | 11 Feb 12:47
    • Southern Copper moly, copper output up in 2015
    • Sao Paulo, 11 February (Argus) — New York-listed Southern Copper, which produces molybdenum as a copper by-product at the Toquepala and Cuajone mines in Peru and Buenavista site in Mexico said production increased by 1pc in 2015. The Grupo Mexico subsidiary's molybdenum output ran to 23
    • Read more
    • NEWS | 11 Feb 12:02
    • Glencore's FeCr, cobalt output rises in 2015
    • Johannesburg, 11 February (Argus) — Ferro-chrome and cobalt were the best output performers in 2015 for diversified resources group Glencore which also achieved higher production of zinc, silver, palladium and manganese. The group said in a production update for the year that its volume
    • Read more
    • NEWS | 10 Feb 23:53
    • Court approves funds for bankrupt Noranda Aluminum
    • Houston, 10 February (Argus) — A Missouri court has approved up to $165mn of debtor-in-possession financing for Tennessee-based Noranda Aluminum, which announced two days ago that it has filed for chapter 11 bankruptcy protection. The funds will be used to support the company's operatio
    • Read more
    • NEWS | 10 Feb 23:50
    • Glencore unit agrees gold, silver deal
    • Sao Paulo, 10 February (Argus) — Narila Investments, a subsidiary of global commodities group Glencore, signed a long-term prepayment agreement with Franco-Nevada Barbados to supply gold and silver as a percentage of copper produced at its Antapaccay mine in southern Peru. Franco-Nevada
    • Read more
    • NEWS | 10 Feb 23:23
    • Sherritt increases nickel, cobalt sales in 2015
    • New York, 10 February (Argus) — Canadian nickel and cobalt miner Sherritt International increased annual nickel production by 14pc as its Ambatovy mine ramped up to 80pc capacity during 2015. Sherritt increased its production of nickel to 35,761t in 2015 from 31,276t a year earlier. Th
    • Read more
    • NEWS | 10 Feb 23:09
    • Evraz plans idling Portland spiral steel facility
    • Houston, 10 February (Argus) — Evraz North America plans to indefinitely idle its spiral mill facility in Portland, Oregon, due to "economic challenges". About 230 Evraz employees will be laid off as a result of the idling and have received 60-day Workers Adjustment and Retraining Notif
    • Read more
    • NEWS | 10 Feb 23:03
    • Evraz plans idling Portland spiral steel facility
    • Houston, 10 February (Argus) — Evraz North America plans to indefinitely idle its spiral mill facility in Portland, Oregon, due to "economic challenges". About 230 Evraz employees will be laid off as a result of the idling and have received 60-day Workers Adjustment and Retraining Notif
    • Read more
    • COMMENTARY | 10 Feb 22:58
    • Aluminum cans spreads little changed
    • Houston, 10 February (Argus) — Used aluminum beverage can (UBC) spreads were little changed this week as prices fell by roughly the same amount as London Metal Exchange (LME) aluminum and the midwest premium decreased by less than 1¢/lb. LME aluminum settled at $1,499/t today, down from
    • Read more
    • COMMENTARY | 10 Feb 22:02
    • US aluminum premium softens
    • Houston, 10 February (Argus) — The midwest aluminum premium fell today, after remaining static for two weeks, as market participants were unshaken by Noranda's bankruptcy and London Metal Exchange (LME) aluminum remained in backwardation. The premium fell to 9-9.15¢/lb from 9-9.25¢/lb a
    • Read more
    • NEWS | 10 Feb 21:44
    • US brass mill imports fall faster than exports
    • Houston, 10 February (Argus) — US imports of brass mill products fell by 15pc in December from a year earlier, while exports declined by 11pc. The Washington-based Copper Brass Fabricators Council said today that US brass mill products imports in December 2015 were 33.3mn lbs compared
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    • COMMENTARY | 10 Feb 21:02
    • US bare bright scrap holds tight
    • Houston, 10 February (Argus) — US copper scrap price spreads were unchanged this week after recent gains. Consumer buying price spreads for bare bright were at 0-2¢/lb under Comex, under March, unchanged from a week earlier. Price spreads for No. 1 wire and tube were at 5-7¢/lb, under
    • Read more
    • COMMENTARY | 10 Feb 20:55
    • US copper cathode premiums flat
    • Houston, 10 February (Argus) — Copper cathode premiums were unchanged in the latest week amid ample supply after a spurt of activity last week. Cathode grade A premiums were at 5.25-6¢/lb delivered midwest consumer today, unchanged from a week earlier. The premiums are up from 5-6¢/lb t
    • Read more
    • COMMENTARY | 10 Feb 19:40
    • European aluminum premiums fall
    • Houston, 10 February (Argus) — Premiums for European aluminum in Rotterdam warehouses fell this week, as trading slowed and primary aluminum was readily available. The P1020 duty paid spot premium traded within a range of $130-150/t today in Rotterdam warehouses, down from $150-165/t a
    • Read more
    • NEWS | 10 Feb 19:11
    • US FeV imports drop 44.8pc in December
    • New York, 10 February (Argus) — Imports of ferro-vanadium into the US fell 44.8pc in December compared with the same period a year earlier and were down 35.7pc for the year 2015, according to latest figures from the US International Trade Commission (ITC). Imports in December totalled 7
    • Read more
    • NEWS | 10 Feb 18:27
    • US rare earth imports fall in 2015
    • New York, 10 February (Argus) — US imports of rare earths fell in 2015 as some key consumer markets such as catalytic cracking products struggled, while the neodymium-iron-boron (NdFeB) magnet sector continued to show signs of recovery through the year. US imports of rare earth oxides a
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    • NEWS | 10 Feb 16:22
    • Anglo American sees little impact from Chile spill
    • Sao Paulo, 10 February (Argus) — Diversified miner Anglo American does not expect copper production to be affected by a pipeline leak of ore slurry from its Los Bronces copper mine in central Chile. Engineers carrying out a routine inspection discovered product spilling from the pipelin
    • Read more
    • NEWS | 10 Feb 16:16
    • US steel exports fall in 2015
    • Houston, 10 February (Argus) — US steel exports for the year 2015 fell by 17.2pc compared to the prior year, driven mostly by a stronger dollar and recession in Canada, but may rebound in 2016. US exports fell to 10mn net tons (9.1mn metric tonnes) in 2015, the American Institute for In
    • Read more
    • NEWS | 10 Feb 16:09
    • US lead output little changed last year
    • Houston, 10 February (Argus) — US lead mines produced 1.6pc more lead in concentrate in 2015 while output of lead from secondary refineries fell by about 1pc. Production of concentrate totaled 385,000t last year, up from 379,000t the prior year, the US Geological Survey (USGS) said. Out
    • Read more
    • NEWS | 10 Feb 13:54
    • Hedland manganese ore exports fall in January
    • London, 10 February (Argus) — Manganese ore shipments from Port Hedland in Australia fell by almost two-thirds compared with a month earlier. Port Hedland manganese ore shipments in January of just under 22,000t were down by 64pc from 62,000t in December, according to data from the Port
    • Read more
    • NEWS | 10 Feb 13:47
    • CherMK plans new zinc-plating line
    • London, 10 February (Argus) — Russia's leading steel producer, Cherepovets Steel Mill (CherMK), has approved the engineering plan for a new zinc plating and polymer coating facility, parent company Severstal said. The new coatings workshop No.3 will include a continuous zinc hot-plating
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    • NEWS | 10 Feb 13:27
    • DRC leaves mining code unchanged after opposition
    • London, 10 February (Argus) — Democratic Republic of Congo, the biggest copper producer in Africa, has decided to leave its mining code unchanged after fierce opposition from mining companies. Last year the government put forward a proposal to change the mining code, which has been in p
    • Read more
    • NEWS | 10 Feb 13:11
    • Vedanta reduces capex at Gamsberg zinc project
    • Johannesburg, 10 February (Argus) — Diversified mining and commodities group Vedanta Resources has reduced and restructured its capital expenditure plans for the Gamsberg zinc project which straddles South Africa and Namibia. Group chief executive Tom Albanese told delegates at the Inve
    • Read more
    • NEWS | 10 Feb 12:41
    • US military reports no metal sales in January
    • New York, 10 February (Argus) — The US defence department's procurement arm, the Defense Logistics Agency (DLA), reported that it made no sales from its materials stockpile in January. It comes as the agency did not issue a tender for ferro-chrome or chromium metal last month. In Decem
    • Read more
    • NEWS | 09 Feb 23:32
    • Steelmakers urge US, EU to close ranks on China
    • Houston, 9 February (Argus) — A group representing major US steel producers urged policymakers in Washington to more "aggressively address injurious surges" of steel imports into the US and work with partners in North America and the European Union to present a united front against China
    • Read more
    • NEWS | 09 Feb 22:55
    • Commercial Metals cuts output at Arkansas plants
    • Houston, 9 February (Argus) — US recycler Commercial Metals Company (CMC) will close a fence post manufacturing facility and reduce production at a steel re-rolling mill, both located in Magnolia, Arkansas, by the end of its third fiscal quarter. Production from the fence post facility
    • Read more
    • NEWS | 09 Feb 22:40
    • US steel shipments up for December, down for 2015
    • Houston, 9 February (Argus) — US steel mill shipments rose by 1.5pc to 6.6mn net tons (6mn metric tonnes) in December from 6.5mn nt the prior month, according to the American Iron and Steel Institute. December shipments declined by 17.8pc from the 8mn nt shipped in the same month a year
    • Read more
    • COMMENTARY | 09 Feb 22:36
    • Most mill grade aluminum scrap outperforms LME
    • Houston, 9 February (Argus) — Spreads for mill grade aluminum scrap narrowed or were little changed as London Metal Exchange prices for primary metal fell the equivalent of 2¢/lb and only a few grades matched those declines. LME cash official prices settled at $1,492/t today, down from
    • Read more
    • COMMENTARY | 09 Feb 22:21
    • European copper scrap prices flat on tight supply
    • Houston, 9 February (Argus) — European copper scrap prices remained unchanged as scrap supply was tight amid signs of slowing manufacturing activity in central Europe. Traded volumes continue to be thin this week as spot demand remains limited, market participants said. Consumer buyin
    • Read more
    • COMMENTARY | 09 Feb 22:02
    • European copper premiums fall
    • Houston, 9 February (Argus) — Copper cathodes premiums in Rotterdam warehouses fell by $25-30/t in the latest week amid ample inventories and scant spot activity as a report showed German manufacturing weakened at the end of 2015. Cathodes dropped to $25-30/t in Rotterdam warehouses fro
    • Read more
    • NEWS | 09 Feb 21:16
    • USW Quebec reaches agreement with ArcelorMittal
    • Houston, 9 February (Argus) — Luxembourg-based steel producer ArcelorMittal and the Quebec District of the United Steelworkers (USW) union have reached a tentative deal for the renewal of labor contracts for union employees. The agreements cover 800 union employees at the company's Cont
    • Read more
    • NEWS | 09 Feb 20:59
    • Panel: Methanol could be bunker fuel of the future
    • New York, 9 February (Argus) — Stricter environmental regulations and lower costs could make methanol more attractive than liquefied natural gas (LNG) as a future bunker fuel, said a panel of experts during a FC Business Intelligence (FCBI) hosted webinar on Tuesday. The panel discusse
    • Read more
    • NEWS | 09 Feb 18:43
    • US niobium imports, consumption fall in 2015
    • New York, 9 February (Argus) — US imports of niobium decreased by 19.8pc in 2015 compared with 2014, according to statistics from the US Geological Survey (USGS). Imports of niobium for consumption in 2015 fell to 8,900t from 11,100t a year earlier. US exports of niobium including ores
    • Read more
    • NEWS | 09 Feb 17:35
    • Indonesia's tin exports drop 63pc in January
    • London, 9 February (Argus) — Indonesia's tin exports dropped sharply in January to 2,486t, down 63pc on the same month in 2015 as regulatory changes came into effect. Indonesia has introduced new regulation that requires producers to have a permission to export. The permission also spec
    • Read more
    • NEWS | 09 Feb 17:09
    • US zinc mine output rises 2pc
    • Houston, 9 February (Argus) — US production of mined zinc rose by 2pc last year from the prior year, mostly because of the reopening of the Pend Oreille mine in Washington state in late 2014. Production of zinc mined in concentrate rose to 850,000t from 832,000t the prior year, the US G
    • Read more
    • NEWS | 09 Feb 17:06
    • Novelis rolled aluminum shipments up, profits down
    • Houston, 9 February (Argus) — Atlanta-based aluminum sheet manufacturer Novelis increased its shipments of rolled products by 3pc in its third fiscal quarter compared to the same period a year earlier. The company shipped 779,000t of rolled products in the quarter ended 31 December, up
    • Read more
    • NEWS | 09 Feb 16:04
    • Taseko expects to defer $20mn in power costs
    • New York, 9 February (Argus) — Canadian copper and molybdenum miner Taseko Mines expects to reduce annual spending by $20mn from a five-year power rate deferral program from the government of British Columbia province. Details of the deferral program have yet to be disclosed by the elec
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    • NEWS | 09 Feb 15:49
    • EU moves on schedule with AD SiMn case
    • London, 9 February (Argus) — European Commission will next week present its case for approval on its silico-manganese anti-dumping investigation against imports from India to member states in Europe as scheduled, a senior industry participant said. Commission has received all relevant r
    • Read more
    • NEWS | 09 Feb 15:34
    • Kazchrome set to up FeCr production 20pc in 2016
    • London, 9 February (Argus) — Kazakhstan ferro-alloys producer Kazchrome, part of Eurasian Resources Group (ERG), is set to increase ferro-chrome production by a fifth this year, said the Association of Mining and Metal Companies of Kazakhstan (AMMC). In 2016, Kazchrome is expected to bo
    • Read more
    • NEWS | 09 Feb 15:30
    • Metalicity extends search for Li, Ta, Sn
    • Johannesburg, 9 February (Argus) — West Australia-based minerals explorer Metalicity has filed applications for seven new licences to explore for lithium, tantalum and tin mineralisation over an area of 1,103 square kilometres. The company said in a market update that it will explore th
    • Read more
    • NEWS | 09 Feb 13:12
    • REC Silicon shuts down US solar PolySi output
    • London, 9 February (Argus) — Oslo-listed, US polysilicon manufacturer REC Silicon is halting fluidized-bed reactor (FBR) output at its Moses Lake plant in Washington, US, because of lower commodity prices and high Chinese import duties. It is also shutting down Moses Lake's production
    • Read more
    • COMMENTARY | 09 Feb 12:46
    • LME minor metals: Following physical markets
    • London, 9 February (Argus) — London Metal Exchange (LME) minor metals are moving quietly, tracking similar moves in the physical markets where support is being cemented on conversion rates in molybdenum and supply worries in cobalt. LME cash molybdenum settled at a cash price of $11,500
    • Read more
    • NEWS | 09 Feb 12:33
    • Orocobre expects to reach Li capacity by September
    • Johannesburg, 9 February (Argus) — Australia-headquartered lithium producer Orocobre increased lithium carbonate output to 699t in December from 427t in November and is on track to reach nameplate capacity at its Olaroz facility in Argentina by September. The company said in a productio
    • Read more
    • NEWS | 08 Feb 23:21
    • US mined copper output falls
    • Houston, 8 February (Argus) — US production of mined copper fell by about 8pc in 2015, mainly because of curtailments at Arizona mines and repair work on a Utah mine. US mine production fell to 1.25mn t last year from 1.36mn t in 2014, the US Geological Survey said. US refined copper pr
    • Read more
    • NEWS | 08 Feb 22:01
    • US manganese consumption falls in 2015
    • New York, 8 February (Argus) — Apparent US consumption of manganese fell by 12pc in 2015 from a year prior, according to statistics from the US Geological Survey (USGS). US manganese consumption decreased to 750,000t from 852,000t in 2014. Imports of manganese ore for consumption rose
    • Read more
    • NEWS | 08 Feb 21:02
    • US raw steel production, capacity rates rise
    • Houston, 8 February (Argus) — US raw steel production rose by 1.7pc to 1.69mn net tons (1.5mn metric tonnes) in the week ending 6 February compared to the prior week, while capacity utilization rose to 71.9pc. Capacity utilization increased from 70.7pc in the prior week but was off from
    • Read more
    • NEWS | 08 Feb 20:37
    • Salt Lake Mining sells two projects
    • New York, 8 February (Argus) — Australian mine developer Salt Lake Mining sold its Widgiemooltha and Carr Boyd projects for A$1.6mn ($1.1mn) plus a future contingent payment of A$600,000 ($420,000), after Canada's Royal Nickel (RNC) last week announced it agreed to buy a 67pc stake in Sa
    • Read more
    • NEWS | 08 Feb 19:36
    • Secondary aluminum prices steady in Europe
    • Houston, 8 February (Argus) — Prices of secondary aluminum ingots in Europe and the UK remained unchanged in the latest week amid weak trading and a range-bound London Metal Exchange. European selling prices for DIN 226 die casting ingot traded at 75-78¢/lb fob smelter, unchanged from a
    • Read more
    • NEWS | 08 Feb 19:22
    • Secondary aluminum prices in steady in Europe
    • Houston, 8 February (Argus) — Prices of secondary aluminum ingots in Europe and the UK remained unchanged in the latest week amid weak trading and a range-bound London Metal Exchange. European selling prices for DIN 226 die casting ingot traded at 75-78¢/lb fob smelter, unchanged from a
    • Read more
    • NEWS | 08 Feb 19:09
    • Alcoa lays off workers at idled US calciner
    • Washington, 8 February (Argus) — Alcoa filed a notice that it will temporarily lay off 37 employees at its idled Louisiana calciner following a kiln failure at the facility in late December. Alcoa on 5 February issued a worker adjustment retraining notification (WARN) announcing 37 temp
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    • NEWS | 08 Feb 19:03
    • KGHM writes $266mn off Sierra Gorda mine value
    • Sao Paulo, 8 February (Argus) — Poland-based mining giant KGHM has said it is undertaking a review of its investment projects as it writes down the value of assets, while launching a cost cutting drive in the face of tough trading conditions and low metals prices. Executives plan to pri
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    • NEWS | 08 Feb 17:29
    • Cliffs settles $84mn Bloom Lake lawsuit
    • Houston, 8 February (Argus) — US-based iron ore producer Cliffs Natural Resources has agreed to settle an $84mn class action lawsuit in connection with its Bloom Lake operations in Canada. The law suit was brought against Cliffs and its former management for allegedly making "misleading
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    • NEWS | 08 Feb 16:46
    • Vast ramps up output at Romania, Zimbabwe mines
    • London, 8 February (Argus) — UK-based mining company Vast Resources is targeting ore production of 20,000t/month by the end of the first half of 2016 at each of its mines in Romania and Zimbabwe. The Manaila polymetallic mine in Romania, which contains copper-zinc-lead ore, and the Pick
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    • NEWS | 08 Feb 16:44
    • Trinidad steelmakers shut plants
    • Kingston, 8 February (Argus) — Trinidad and Tobago's two leading steel producers have shut their plants and furloughed about 700 workers because of low demand for their products, the companies said. Luxembourg-headquartered ArcelorMittal has temporarily shut down its 550,000 t/yr hot br
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    • NEWS | 08 Feb 16:42
    • Noranda Aluminum files for bankruptcy
    • Houston, 8 February (Argus) — Tennessee-based primary aluminum producer Noranda Aluminum and its subsidiaries have filed for Chapter 11 bankruptcy protection in a Missouri court. The company has received commitments for up to $35mn of debtor in possession financing to fund continuing op
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    • NEWS | 08 Feb 16:32
    • Six companies cancel LME membership
    • London, 8 February (Argus) — Six companies cancelled their associate trade membership of the London Metal Exchange (LME) as the exchange moved into new premises. Category five, or associate trade members, have typically little rights other than as clients of LME brokers but are privy to
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    • NEWS | 08 Feb 16:26
    • Fesil returns to full ferro-silicon production
    • London, 8 February (Argus) — Norwegian ferro-silicon producer Fesil has returned to full ferro-silicon production, restarting one of its two furnaces that it shut at the start of last December when it brought forward a maintenance stoppage originally planned for late winter. Fesil's fur
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    • NEWS | 08 Feb 16:17
    • OM Materials boosts ferro-silicon production
    • London, 8 February (Argus) — Australia-listed OM Holdings (OMH) is raising ferro-silicon production at its Sarawak alloy smelting plant in Malaysia, where more new smelting facilities are being commissioned. A 75-25 joint venture between Australia-listed OM Holdings (OMH) and Cahya Mata
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    • NEWS | 08 Feb 15:37
    • Amplats reports sharp increase in chrome output
    • Johannesburg, 8 February (Argus) — South African mining company Anglo American Platinum (Amplats), the world's biggest platinum producer, sharply increased its output of by-product chromite in 2015, reaching the highest level for at least five years. The company said in its 2015 annual
    • Read more
    • NEWS | 08 Feb 14:30
    • Pertama Ferroalloys targets first production
    • London, 8 February (Argus) — Pertama Ferroalloys plans to commission its Malaysian ferro-silicon furnace in May this year, more than five years after the company was founded, according to the project's major stakeholder, Honk-Kong based private-sector firm Asia Minerals. Pertama, which
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    • NEWS | 08 Feb 13:19
    • Amerigo does not expect moly output in 2016
    • Sao Paulo, 8 February (Argus) — Canadian processing company Amerigo Resources has said it does not expect to produce molybdenum in 2016 because of low prices for the metal, which used as an anti-corrosion agent. The company processes molybdenum recovered from the El Teniente mine waste
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    • NEWS | 08 Feb 12:53
    • Amplats expects challenging PGM market to persist
    • Johannesburg, 8 February (Argus) — South African mining company Anglo American Platinum (Amplats) expects challenging global market conditions to persist with prices in platinum group metals remaining weak. The company said in its annual results for the year to 31 December that the plat
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    • NEWS | 08 Feb 12:11
    • Job cuts mooted at S Africa’s Samancor Chrome
    • Job cuts mooted at S Africa's Samancor Chrome Johannesburg, 8 February (Argus) — South African integrated chrome and ferro-chrome producer Samancor Chrome has said that it is considering staff cuts due to weak prices. Trade union Solidarity said today that up to 280 jobs are under threat
    • Read more
    • COMMENTARY | 05 Feb 23:35
    • This Week in Metals: 1-5 February
    • Houston, 5 February (Argus) — The drop in the US dollar this week heightened uncertainty in the markets ahead of China's lunar new year holidays. The nearly 3pc drop in the dollar index came on the back of weaker economic indicators, including the Institute of Supply Management (ISM) r
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    • NEWS | 05 Feb 22:30
    • Export supply prevents rise in US ferrous prices
    • Houston, 5 February (Argus) — US ferrous scrap prices for February delivery traded mostly unchanged from prior-month levels as large-volume sales of shredded scrap by exporting companies to southern mills negated early efforts to send shredded prices higher. The availability of export vo
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    • COMMENTARY | 05 Feb 22:22
    • US aluminum scrap exports prices rise
    • Houston, 5 February (Argus) — US aluminum scrap export prices rose by 1-2¢/lb in the latest week, tracking a gain in London Metal Exchange (LME) pricing and reflecting limited supply of available scrap. Nonferrous shredded scrap prices for zorba, 94pc metallic with 3-4pc red metal conte
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    • COMMENTARY | 05 Feb 22:10
    • US ferrovanadium spikes in thin market
    • Houston, 5 February (Argus) — US ferrovanadium (V 78-82pc) rose as much as 8pc this week, due to limited availability for quick spot turnaround, amid otherwise quiet trading in the North American spot market for ferroalloys. The trading range for ferrovanadium was $6.40-6.70/lb, up from
    • Read more
    • NEWS | 05 Feb 21:37
    • Paranapanema boosts Brazil copper tube output
    • Sao Paulo, 5 February (Argus) — Brazilian copper producer and smelter Paranapanema plans to raise copper tubes production capacity by 500t/month to 3,000t/month in February at its Santo Andre plant in São Paulo state after upgrading and transferring equipment from a nearby site. The com
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    • NEWS | 05 Feb 21:35
    • Secondary smelters squeezed by world economy
    • Houston, 5 February (Argus) — Nonferrous scrap traders and consumers are taking a less optimistic view of the market than is typical for this time of year amid low exchange prices and slowing Chinese demand, according to Bureau of International Recycling (BIR) board member Shen Dong. Ch
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    • NEWS | 05 Feb 21:05
    • US ferrous scrap imports fall in 2015
    • Houston, 5 February (Argus) — US ferrous scrap imports fell by 19pc in 2015 compared to the prior year, primarily led by decreased imports from Canada and Mexico. US ferrous scrap intake fell to 2.7mn tonnes from 3.3mn t the year prior, according to data provided by the US Commerce Depa
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    • NEWS | 05 Feb 20:27
    • Paranapanema boosts Brazil copper tube output
    • Sao Paulo, 5 February (Argus) — Brazilian copper producer and smelter Paranapanema plans to raise copper tubes production capacity by 500t/month to 3,000t/month in February at its Santo Andre plant in São Paulo state after upgrading and transferring equipment from a nearby site. The com
    • Read more
    • NEWS | 05 Feb 20:19
    • US ferrous scrap exports down in 2015
    • Houston, 5 February (Argus) — US ferrous scrap exports in 2015 were down by 16.5pc from the prior year, largely reflecting weaker demand in South Korea and Taiwan. Ferrous scrap exports fell to 11.9mn tonnes from 14.3mn t in 2014, according to data provided by the US Commerce Departmen
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    • NEWS | 05 Feb 19:33
    • Competition peaks as longs market bottoms: Irepas
    • London, 5 February (Argus) — The level of competition in the global long steel products market is at its peak, resulting in market prices falling well below the lowest levels observed after the 2008 financial crisis, the International Rebar Producers and Exporters Association (Irepas) sa
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    • COMMENTARY | 05 Feb 19:26
    • US stainless steel scrap flat
    • Houston, 5 February (Argus) — US stainless steel scrap prices were mostly flat this week amid uncertainty about the market's direction as manufacturing slows. Processor buying prices for Type 304 (18-8) scrap solids were traded in the range of $900-945/gross tons today, no change from a
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    • NEWS | 05 Feb 19:19
    • ArcelorMittal America ships less, sees growth
    • Houston, 5 February (Argus) — The North American segment of global integrated steelmaker ArcelorMittal expects apparent steel consumption in the region to grow by 3-4pc in 2016 as demand expands and steel inventories hold steady. ArcelorMittal expects its North America Free Trade Agreem
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    • COMMENTARY | 05 Feb 19:11
    • WEEK IN REVIEW: All eyes on China and US
    • London, 5 February (Argus) — The drop in the US dollar against a basket of currencies including the Euro and Chinese yuan caused uncertainty in the markets ahead of the public holidays in China. Until now the dollar had been a bastion of strength against volatile stocks, commodities and
    • Read more
    • COMMENTARY | 05 Feb 19:04
    • Fund buying, demand lift LME copper, aluminium
    • London, 5 February (Argus) — London Metal Exchange (LME) copper and aluminium prices increased this week on the back of fund buying and physical demand in Europe. Copper traded at $4,668/t on Friday, up from $4,535.50/t a week ago. Strong physical demand in Europe was reflected in a ste
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    • COMMENTARY | 05 Feb 18:59
    • LME zinc, lead, nickel, tin rise on fund buying
    • London, 5 February (Argus) — London Metal Exchange (LME) zinc prices led a rally during the week on the back of heavy buying from funds. Nickel, lead and tin followed suit. Zinc futures settled at $1,714/t on Friday, up from $1,609/t, as fund buyers returned to the market with gusto and
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    • NEWS | 05 Feb 17:36
    • US mill purchases five European scrap cargoes
    • London, 5 February (Argus) — One of the largest US steel producers has purchased five European-origin scrap cargoes in the past ten days, market participants said. The substantial volume of material — all new production consisting of scrap grades such as bushelling, bonus and shredded —
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    • NEWS | 05 Feb 17:28
    • Rox Resources upgrades Ni at Fisher East
    • Johannesburg, 5 February (Argus) — Perth-based minerals explorer Rox Resources has upgraded the mineral resource at its Fisher East nickel prospect in Western Australia to 4.2mn t grading 1.9pc nickel. Resource is now estimated to contain 78,000t of nickel compared to a previous estimat
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    • NEWS | 05 Feb 17:10
    • Umicore boosts revenues, expects mixed 2016
    • New York, 5 February (Argus) — Belgium-based specialty materials producer Umicore grew 2015 sales by 18pc from strong revenues in its catalysis and energy and surface technologies segments. The company posted revenues of €10.4bn ($11.6bn) in 2015, up from €8.83bn ($9.8bn) in 2014. Umic
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    • NEWS | 05 Feb 16:26
    • Evraz Highveld Steel & Vanadium rescue fails
    • Evraz Highveld Steel Vanadium rescue fails Johannesburg, 5 February (Argus) — The proposed acquisition of South African steel and vanadium producer Evraz Highveld Steel Vanadium (Highveld) by Hong Kong-based International Resources (IRL) has failed due to conditions precedent not bein
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    • NEWS | 05 Feb 15:46
    • ArcelorMittal seeks funds as losses spiral
    • London, 5 February (Argus) — Global steelmaker ArcelorMittal is launching a rights issue and has agreed to sell its 35pc stake in Spanish industrial conglomerate Gestamp as it seeks to rebalance the firm's finances after its net loss increased almost sevenfold in 2015. The rights issue
    • Read more
    • NEWS | 05 Feb 13:16
    • US FeV imports rise 2.2pc in 2015
    • New York, 5 February (Argus) — US ferro-vanadium imports rose 2.2pc in 2015 compared with a year earlier, while exports fell 52.6pc, said latest figures from US Geological Survey (USGS). Data shows that imports of the steelmaking raw material for consumption were 3,300t last year, up fr
    • Read more
    • NEWS | 05 Feb 12:03
    • Feasibility results for Golpu due mid February
    • Johannesburg, 5 February (Argus) — South African mining company Harmony Gold and its joint venture partner Newcrest Mining have competed a feasibility study on the giant Golpu copper/gold deposit in Papua New Guinea (PNG) and expect to announce the results in mid-February. The joint ven
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    • NEWS | 04 Feb 23:57
    • Latin American imports of Chinese steel flat
    • Houston, 4 February (Argus) — Latin America's imports of steel from China rose by 1pc in 2015 from the prior year, as increased shipments to Mexico, Central America and Venezuela offset declines to Brazil and Chile. Latin America imported 9.4mn t of Chinese steel last year, up from 9.3m
    • Read more
    • NEWS | 04 Feb 23:38
    • US cobalt imports, production rise in 2015
    • New York, 4 February (Argus) — US imports of cobalt increased by 0.9pc in 2015 compared with 2014, while domestic production increased by 483pc. Imports of cobalt for consumption rose to 11,500t from 11,400t in 2014, according to statistics from the US Geological Survey (USGS). US pr
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    • NEWS | 04 Feb 23:19
    • US bismuth imports fall by 3pc in 2015
    • New York, 4 February (Argus) — US imports of bismuth decreased by 3pc in 2015 compared with 2014, according to a report from the US Geological Survey (USGS). Imports of bismuth metal for consumption fell to 2,200t from 2,270t of 2014, which was in turn an increase from 1,710t in 2013.
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    • COMMENTARY | 04 Feb 22:17
    • Europe’s nickel premiums edge higher
    • Europe's nickel premiums edge higher Houston, 4 February (Argus) — Premiums for nickel cathodes in Rotterdam warehouses were up $5/t in the latest week from a week earlier amid relative scarcity of certain top-grade material. Cathode premiums for nickel were at $50-60/t compared with $4
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    • NEWS | 04 Feb 22:13
    • Europe’s nickel premiums edge higher
    • Europe's nickel premiums edge higher Houston, 4 February (Argus) — European stainless steel scrap prices were generally stable this week amid steady mill demand and low availability of scrap. Northern European stainless steel scrap prices held at last week's levels of 42-43¢/lb for 304 g
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    • NEWS | 04 Feb 22:06
    • European stainless scrap prices hold steady
    • Houston, 4 February (Argus) — European stainless steel scrap prices were generally stable this week amid steady mill demand and low availability of scrap. Northern European stainless steel scrap prices held at last week's levels of 42-43¢/lb for 304 grade and 55-56¢/lb for 316 grade scr
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    • NEWS | 04 Feb 18:58
    • US delays Chinese aluminum trade case
    • New York, 4 February (Argus) — The US Department of Commerce will delay its official determination on whether Chinese aluminum extrusion manufacturer Zhongwang Group violated US countervailing and antidumping rules until a preliminary date of 22 February. The department has asked the Al
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    • COMMENTARY | 04 Feb 18:54
    • Noble alloys overview: FeTi price falls further
    • London, 4 February (Argus) — European ferro-titanium prices maintained their downward trend with a weaker rouble continuing to support sales of lower-priced Russian imports into the region. Chinese noble alloy prices remained steady amid thin spot market business ahead of the lunar new
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    • NEWS | 04 Feb 18:33
    • Wacker Chemie's US polysilicon plant ramps up
    • New York, 4 February (Argus) — German speciality chemicals maker Wacker Chemie AG reported a 2pc rise in fourth quarter earnings as sales increased 3pc, while the company also said that its new polysilicon plant in the US had started ramping up production. The Munich-based company booke
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    • NEWS | 04 Feb 18:16
    • Norilsk Nickel sets up palladium fund
    • London, 4 February (Argus) — Russian miner Norilsk Nickel, the largest global producer of nickel and palladium, is setting up a palladium fund and putting $200mn aside for potential investment. Russia considers palladium a strategic metal and has control over its reserves. The level of
    • Read more
    • NEWS | 04 Feb 18:05
    • Panoramic flags potential for Savannah North
    • Johannesburg, 4 February (Argus) — Australia-based mining exploration company Panoramic Resources has completed a scoping study showing the potential for an eight-year mine-life at its Savannah North nickel/cobalt/copper prospect in Western Australia. Scoping study demonstrates the pote
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    • NEWS | 04 Feb 18:02
    • Southwire to close Indianapolis service center
    • Houston, 4 February (Argus) — Georgia-based wire and cable producer Southwire plans to close its Indianapolis, Indiana, customer service center in April as the company seeks to align its assets with volumes of business. "As our markets grow more competitive, we must ensure we are proper
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    • NEWS | 04 Feb 16:52
    • Carpenter Tech sales fall on lower energy demand
    • New York, 4 February (Argus) — Pennsylvania-based specialty alloy producer Carpenter Technologies sold 17.3pc less volume for the six-month period ending 31 December from lower-end market demand, particularly in oil and gas. The company sold 115.4mn lbs of specialty alloys and engineere
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    • NEWS | 04 Feb 16:11
    • Indonesia to audit tin smelters for illegal ore
    • London, 4 February (Argus) — Indonesia's Ministry of Energy and Mineral Resources will start auditing tin smelters in the Bangka-Belitung Province from 8 February in a bid to clamp down on the use of illegally mined tin ore. Audits will start with eight smelters in the province and will
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    • NEWS | 04 Feb 15:57
    • CMC granted air permit for Oklahoma mill
    • Houston, 4 February (Argus) — Texas-based recycler Commercial Metals Company (CMC) received a new-source air permit from Oklahoma regulators that will allow it to proceed with construction of a micro mill in Durant, Oklahoma. The permit was issued last week by the Oklahoma Department of
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    • NEWS | 04 Feb 15:56
    • Challenges mount to Asia-Pacific free trade deal
    • Washington, 4 February (Argus) — The Trans-Pacific Partnership (TPP) agreement is facing uncertain prospects for legislative approval in the US and Canada. Top officials representing Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Viet
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    • NEWS | 04 Feb 15:13
    • US low-carbon FeCr imports fall in November
    • London, 4 February (Argus) — US imports of low-carbon ferro-chrome, containing more than 4pc carbon, fell by almost three-quarters in November 2015 compared with a year earlier and were down by over half from October 2015, according to the latest data from the US International Trade Comm
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    • NEWS | 04 Feb 14:39
    • South32 to cut manganese output, jobs: Update
    • Adds details on the Hotazel mines and Metalloys ferro-manganese smelter Sydney, 4 February (Argus) — Australian resources firm South32 plans to restart manganese ore production at its Hotazel mines in South Africa, but cut output to saleable production rates of 2.9mn t/yr on a 10pc ba
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    • NEWS | 04 Feb 13:50
    • US indium imports rise by 17.8pc in 2015
    • New York, 4 February (Argus) — US imports of indium increased by 17.8pc in 2015 compared with 2014, according to latest figures from the US Geological Survey (USGS). The USGS estimates that imports of indium rose to 145t last year from 123t in 2014 and were also up from 97t in 2013. The
    • Read more
    • NEWS | 04 Feb 03:23
    • South32 to cut manganese output, jobs
    • Sydney, 4 February (Argus) — Australian resources firm South32 plans to cut manganese production at its Hotazel mines in South Africa to saleable production rates of 2.9mn t/yr on a 10pc basis, which will take about 900,000t or 23pc of saleable output out of the market for the foreseeabl
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    • NEWS | 04 Feb 00:01
    • US steel imports rise in January
    • Houston, 4 February (Argus) — Applications for US steel imports rose by 2pc in January from the prior month, led by gains in imports from Turkey and Japan and increases in standard rails and oil country goods. Applications totaled 2.7mn net tons (2.45mn metric tonnes), compared with 2.6
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    • NEWS | 03 Feb 23:57
    • US grants Aloca workers aid after China complaint
    • New York, 3 February (Argus) — The US government granted 500 workers from Alcoa's Intalco smelter assistance in the event of job losses between November 2014-January 2018 after they complained that unfairly traded imports of Chinese aluminum threatened their jobs. The International Ass
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    • COMMENTARY | 03 Feb 22:49
    • Bare bright spreads at par to Comex
    • Houston, 3 February (Argus) — Spreads on copper bare bright scrap moved to level Comex this week as buyers paid more in a tight market to fill orders. Consumer buying price spreads for bare bright were at 0-2¢/lb under Comex, under March, from 1-3¢/lb under during the prior week. Deale
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    • COMMENTARY | 03 Feb 22:42
    • Copper cathode premiums creep up
    • Houston, 3 February (Argus) — Copper cathode premiums edged up this week, as US mills made spot purchases to fill immediate orders. Cathode grade A premiums traded at 5.25-6.0¢/lb delivered midwest consumer today, up from 5.0-6.0¢/lb a week earlier. With bare bright copper scrap hard
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    • NEWS | 03 Feb 21:40
    • Market hopes for China cutbacks amid challenges
    • Houston, 3 February (Argus) — Ferrous scrap market participants see China's announced cutbacks in steelmaking capacity as a bright spot in an otherwise challenging outlook for 2016. China plans to rein in overcapacity in steelmaking and other industries as part of its next five-year pla
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    • NEWS | 03 Feb 21:04
    • Southern Copper eyes Tia Maria mine approval
    • Sao Paulo, 3 February (Argus) — Southern Copper expects to be granted permission to build the $1.4bn projected Tia Maria copper mine in Peru, according to the government's official news agency. Although Southern Copper has received final approval of the Tia Maria Environmental Impact A
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    • COMMENTARY | 03 Feb 19:17
    • Aluminum premiums flat this week
    • Houston, 3 February (Argus) — European aluminum premiums remained flat this week, even as activity is beginning to pick up. While premiums have been stable in Europe and Asia, they may rise as merchants report increased activity today, with consumers booking business for the second quar
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    • NEWS | 03 Feb 17:37
    • Sims FE Mottram to close or be sold
    • UK's leading ferro-titanium producer Sims FE Mottram in Sheffield is likely to close after its parent company, recycler Sims Metal Management, decided to dispose of the plant. Sims announced a proposal to sell or close Sims FE Mottram, following a strategic review of the Sims FE Mottram
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    • NEWS | 03 Feb 17:17
    • Kennametal revenues down, expects further declines
    • New York, 3 February (Argus) — Pennsylvania-based tool and industrial material producer Kennametal decreased revenues for the six month fiscal period ending 31 December by 21pc from weakened end markets and unfavorable currency exchange fluctuations. Revenues for the first half of fisc
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    • NEWS | 03 Feb 17:05
    • US magnesium metal imports fall 9.6pc in 2015
    • New York, 3 February (Argus) — US imports of magnesium metal fell 9.6pc in 2015 compared with the year prior, while exports dropped 5.9pc, according to latest figures from the US Geological Survey (USGS). Posted in USGS's Mineral Commodity Summaries book, US imports of magnesium metal f
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    • NEWS | 03 Feb 14:40
    • TowerJazz acquires Maxim plant, boosts capacity
    • London, 3 February (Argus) — Israeli semiconductor manufacturer TowerJazz has completed the acquisition of Maxim Integrated Products' wafer fabrication plant in San Antonio, Texas. The move will expand TowerJazz's global manufacturing capacity by around 28,000 wafers per month, helping
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    • NEWS | 03 Feb 00:03
    • Tenaris plans to suspend operations at Texas plant
    • Houston, 3 February (Argus) — Luxembourg-based steel pipe manufacturer and supplier Tenaris plans to suspend operations at its couplings facility in Houston, Texas. The company will suspend operations affecting 165 employees for an undisclosed period of time starting at the end of March
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    • NEWS | 03 Feb 00:00
    • US steel imports fall, led by Brazil
    • Houston, 3 February (Argus) — US steel imports declined by 5.4pc to 2.3 million net tons (2.1mn metric tonnes) in December from November, led by declines in imports from Brazil and South Korea. Imports from Brazil fell by half to 193,000nt while imports from South Korea decreased by 25.
    • Read more
    • COMMENTARY | 02 Feb 23:35
    • European copper premiums gain on scant scrap
    • Houston, 2 February (Argus) — Premiums for copper cathodes in Europe increased by $5-10/t over prior week levels as cathodes are filling in for a shortage of scrap because of a slump in manufacturing and demolitions. Cathode premiums increased to $50-60/t at Rotterdam warehouses from $4
    • Read more
    • COMMENTARY | 02 Feb 23:31
    • European scrap prices hold flat
    • Houston, 2 February (Argus) — European copper scrap prices remained unchanged at high levels in the latest week as volumes were thin. Volumes held thin as quality scrap was in short supply. Export sales to China are on hold until after its 7-13 February lunar new year holidays. The con
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    • NEWS | 02 Feb 20:58
    • ALD acquires remaining interest in Holcroft firm
    • New York, 2 February (Argus) — German-based vacuum furnace manufacturer ALD Vacuum Technologies has acquired the remaining 50pc share of its joint venture, ALD-Holcroft, from US metals furnace manufacturer AFC-Holcroft. ALD and AFC-Holcroft formed the company in 2005 to become the exclu
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    • NEWS | 02 Feb 20:47
    • Royal Nickel acquires nickel and copper mines
    • New York, 2 February (Argus) — Canadian mine developer Royal Nickel (RNC) has acquired two projects to become a nickel, copper and gold producer in a deal worth approximately $16mn in cash and shares. RNC has acquired a 67pc interest in Salt Lake Mining (SLM) for 32.5mn RNC common share
    • Read more
    • NEWS | 02 Feb 20:26
    • US vehicle sales weaker in January
    • Houston, 2 February (Argus) — US retail sales of light vehicles were weaker in January compared to a year earlier, while the seasonally adjusted annualized rate (SAAR) grew. Total US light vehicle sales for January fell by 0.3pc to 1.14mn, down from 1.15mn units a year earlier. Light
    • Read more
    • NEWS | 02 Feb 20:07
    • Horsehead files for bankruptcy protection
    • Houston, 2 February (Argus) — US zinc-based products maker Horsehead Holding and its subsidiaries have filed for Chapter 11 bankruptcy protection from creditors while it seeks to restructure its balance sheet and "preserve shareholder value." The Pittsburgh-based producer filed its bank
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    • NEWS | 02 Feb 19:42
    • AMI to provide plate aluminum for F-35 fighter jet
    • Houston, 2 February (Argus) — Reliance Steel and Aluminum subsidiary AMI Metals has entered into an agreement to supply plate aluminum to defense contractor BAE Systems for the F-35 Joint Strike Fighter, Hawk, and Typhoon aircraft programs. The five-year contract begins 1 January 2017 u
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    • NEWS | 02 Feb 18:07
    • Draft limits bar large cargoes from Mississippi
    • Washington, 2 February (Argus) — Vessels with more than 41ft draft are restricted from passing through the Mississippi river's Southwest Pass, limiting the size of petroleum coke and other export cargoes. The restrictions are expected to last at least a month until the pass can be dredg
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    • NEWS | 02 Feb 16:43
    • Mueller hit by falling copper prices, sees pickup
    • Houston, 2 February (Argus) — Falling copper prices last year impacted sales and profits of Tennessee-based industrial manufacturer Mueller Industries, but the Tennessee-based company expects improvement this year, as copper prices "appear to be stabilizing." "Our mill modernization pro
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    • NEWS | 01 Feb 23:21
    • Leggett & Platt increases sales, upbeat about 2016
    • Leggett Platt increases sales, upbeat about 2016 Houston, 1 February (Argus) — Diversified manufacturer Leggett Platt sold more products in 2015 than the prior year despite "raw material-related price deflation and currency impacts," and expects stronger sales moving into 2016. Sales
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    • NEWS | 01 Feb 23:02
    • MGX buys oil and gas properties for lithium brines
    • New York, 1 February (Argus) — Canadian mine developer MGX Minerals has agreed to purchase 100pc interest in 12 metallic and industrial mineral permits covering 96,000 hectares in Alberta, Canada, for 1.5mn in shares and cash. MGX will also issue 500,000 common shares, with 50pc going t
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    • NEWS | 01 Feb 22:37
    • US raw steel output falls slightly
    • Houston, 1 February (Argus) — US raw steel production fell by 0.8pc to 1.66mn net tons (1.5mn metric tonnes) in the week ending 30 January compared to the prior week, while capacity utilization rose to 70.7pc. Capacity utilization increased from 69.8pc in the prior week but was off from
    • Read more
    • NEWS | 01 Feb 22:18
    • US Steel Canada beings sale and investment process
    • Houston, 1 February (Argus) — US Steel Canada will commence the sale and investment solicitation process (SISP) for its Hamilton Works and Lake Erie Works facilities. The Ontario Superior Court of Justice ruled on 13 January that the company is allowed to sell the two plants after it fi
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    • NEWS | 01 Feb 22:18
    • US Steel Canada starts sale and investment process
    • Houston, 1 February (Argus) — US Steel Canada will commence the sale and investment solicitation process (SISP) for its Hamilton Works and Lake Erie Works facilities. The Ontario Superior Court of Justice ruled on 13 January that the company is allowed to sell the two plants after it fi
    • Read more
    • NEWS | 01 Feb 22:05
    • US Antimony to start test phase at Los Juarez
    • New York, 1 February (Argus) — Montana-based mining and processing firm US Antimony (USAC) plans to start the testing phase of operations at its Los Juarez gold, silver, antimony site in Queretaro, Mexico, during the first quarter. From a shallow reconnaissance drilling program and rock
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    • NEWS | 01 Feb 21:56
    • European secondary alloys trade in narrow range
    • Houston, 1 February (Argus) — European and UK secondary aluminum alloy prices continue to trade within a narrow range in the face of gains on the London Metal Exchange (LME). Prices for most grades of ingot remained the same as last week, while German alloy 226 dropped by a penny/lb to
    • Read more
    • NEWS | 01 Feb 21:16
    • Steelworkers union approves contract with US Steel
    • Houston, 1 February (Argus) — United Steelworkers (USW) union members have ratified a new contract with US Steel after six months of negotiations, and the union vowed to work together with the company to help change "unfairness" in the global trading system. The agreement covers 18,000
    • Read more
    • NEWS | 01 Feb 19:21
    • Chile’s copper output flat in 2015
    • Chile's copper output flat in 2015 Sao Paulo, 1 February (Argus) — Chile, the world's largest copper producer, produced 0.2pc more copper in 2015 than the prior year, as market prices for the industrial metal weakened. Chile's production rose to 5.79mn t from 5.78m t in 2014, data from t
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    • NEWS | 01 Feb 18:53
    • China raises steel exports
    • London, 1 February (Argus) — China's steel exports rose in December by 11pc on the month to 10.66mn t, according to custom statistics. Steel exports to Vietnam increased by 54pc to 1.11mn t over the same period ( see table ). Exports to Malaysia and Singapore increased, by 36pc and 23p
    • Read more
    • NEWS | 01 Feb 16:41
    • Alcoa adds three directors to aid in split
    • Houston, 1 February (Argus) — US-based aluminum producer Alcoa has appointed three new directors to increase its board's expertise in the aerospace and automotive industries as the company prepares to spin off its value-added products group from its primary products group. Ulrich Schmid
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    • NEWS | 01 Feb 16:38
    • Albemarle completes Martinswerk sale to Huber
    • New York, 1 February (Argus) — Louisiana-based chemical firm Albemarle completed the sale of its mineral flame retardants and specialty chemicals businesses to Georgia-based specialty materials producer Huber Engineered Materials. The financial terms of the sale were not disclosed. The
    • Read more
    • ANALYSIS | 01 Feb 16:31
    • Manufacturing input cuts weigh on metals demand
    • London, 1 February (Argus) — Slowing manufacturing output in China in January resulted in companies cutting back on their purchasing activity and inventories of inputs such as metals, according to monthly purchasing managers' index (PMI) data. The price of metals and oil-related goods co
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    • NEWS | 01 Feb 15:16
    • Brazilian foundry output down in 2015
    • Sao Paulo, 1 February (Argus) — Brazilian foundry production fell by 15.4pc to 2.31mn t, down from 2.73mn t in 2014 according to the latest data from industry body Abifa. Domestic production in December slipped to 112,984t, down by 28pc from the 156,398t produced in the same month the y
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    • NEWS | 01 Feb 14:07
    • Global steel production falls: Correction
    • Corrects December 2015 figure for Japan in table London, 1 February (Argus) — Global crude steel production fell by 2.8pc year on year to 1.6bn t in 2015, representing the first decline in global steel production since 2009, in the wake of the global economic crisis, when production d
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    • NEWS | 01 Feb 11:50
    • China copper profits hit by weaker yuan
    • Beijing, 1 February (Argus) — China's leading copper smelters are expecting a significant fall in profit in 2015 from a year earlier, amid price falls and a weaker yuan. Jiangxi Copper said in its official forecast that profits would fall by 60-80pc in 2015 from Yn2.85bn ($434mn) a year
    • Read more
    • COMMENTARY | 29 Jan 22:58
    • This Week in Metals: 25-29 January
    • Metals market activity in February will be weighted towards the second half of the month, as the lunar new year holidays in China and other east Asia nations will curb activity in the first half. That follows a tumultuous January marked by declines for much of the month in prices of me
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    • NEWS | 29 Jan 22:44
    • Berkshire Hathaway closes $37bn acquisition
    • Houston, 29 January (Argus) — Billionaire investor Warren Buffet's holding company Berkshire Hathaway completed its acquisition of Oregon-based metal components manufacturer Precision Castparts (PCC). The acquisition, valued at $37.2bn, was first announced in August and includes the as
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    • ANALYSIS | 29 Jan 22:26
    • Week in clean Americas tankers: Rates rebound
    • New York, 29 January (Argus) — Rates firmed in the clean Americas tanker market as a flurry of cargoes for export out of the USGC met with limited Medium Range (MR) vessel availability. The rebound marked the end of losses that had weighed on clean Americas markets without interruption
    • Read more
    • COMMENTARY | 29 Jan 22:23
    • US ferrous market poised for sideways trade
    • Houston, 29 January (Argus) — US ferrous scrap prices are expected to stay unchanged for February deliveries in most regions of the country, barring the midwest. Only two producers, both located in the Ohio valley, have announced month-end order cancelations so far. Higher-priced ord
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    • NEWS | 29 Jan 22:12
    • Bourland Leverich, Pipeco to merge
    • New York, 29 January (Argus) — Tubular product suppliers and Sumitomo subsidiaries, Bourland and Leverich Supply and Pipeco Services will merge into a single company named B L Pipeco Services. The Texas-based companies expect a formal merger agreement signed by 1 April and a closed tran
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    • COMMENTARY | 29 Jan 21:12
    • US ferro-alloy prices mixed
    • Houston, 29 January (Argus) — US ferro-alloy prices were mixed in the latest week as market participants expect output curtailments to mount to support pricing. US high carbon ferrochrome (60-65pc) prices were at $0.99-1.02/lb, low carbon (0.05pc) at $2.22-2.24/lb, low carbon (0.10pc)
    • Read more
    • COMMENTARY | 29 Jan 20:08
    • US aluminum scrap export prices edge up
    • Houston, 29 January (Argus) — US aluminum scrap export prices traded a penny higher than a week earlier as buyers in China and other countries sought to meet their inventory requirements ahead of the lunar new year holiday next month. Nonferrous shredded scrap prices for zorba, 94pc met
    • Read more
    • COMMENTARY | 29 Jan 19:45
    • WEEK IN REVIEW: Waiting for the long-term gain
    • London, 29 January (Argus) — After a January marked by a restrained start to the year, market activity in February will be weighted towards the end of the month, after the holidays in China. The period in between is marked by rising prices in the western markets most affected by the clo
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    • COMMENTARY | 29 Jan 19:31
    • Secondary aluminum alloy prices stable
    • Houston, 29 January (Argus) — US prices for the most-consumed secondary aluminum alloy, A380.1, remained flat this week as prices of smelter grade scrap used to make alloys held or slipped and the dollar remained little changed from the prior week. Prices for A380.1 stayed at 85-86¢/lb
    • Read more
    • NEWS | 29 Jan 18:51
    • Brazil imposes anti-dumping duty on Chinese pipe
    • London, 29 January (Argus) — Brazil has imposed provisional anti-dumping duties on imports of Chinese seamless, non-alloyed, carbon steel pipes, of circular section, with an external diameter of less than 374mm, in an attempt to protect the country's domestic steelmakers. This product i
    • Read more
    • COMMENTARY | 29 Jan 18:41
    • Ferrous Scrap: Sellers quiet ahead of US buy week
    • London, 29 January (Argus) — The Argus daily HMS 1/2 80:20 steel scrap assessment remained unchanged today at $176.80/t cfr Turkey in the absence of any deals, bids or offers, with sellers holding back from the market before next week's US domestic mill purchasing period. No offers were
    • Read more
    • COMMENTARY | 29 Jan 18:39
    • US stainless steel scrap jumps
    • Houston, 29 January (Argus) — US stainless steel Type 18-8 scrap solid prices jumped by an average 5.7pc from a week earlier as scrap supply is tightening amid steady steel mill demand. Processor buying prices for Type 304 (18-8) scrap solids traded at $900-945/gt today, up from $830-91
    • Read more
    • NEWS | 29 Jan 17:47
    • Novelis taps King, Labat for new positions
    • Houston, 29 January (Argus) — Atlanta-based recycler Novelis has appointed Pierre Labat as the company's first vice president, sales and marketing for its global automotive unit, and Andy King as its first vice president, sales and marketing, for the company's global can unit. In his ne
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    • NEWS | 29 Jan 17:13
    • Freeport-McMoRan copper export permit delayed
    • Houston, 29 January (Argus) — US-based diversified miner Freeport-McMoRan and the Indonesian government have failed to agree on terms to renew a six-month permit to export copper concentrate from its Grasberg copper and gold mine in Papua province but the producer said talks are ongoing.
    • Read more
    • NEWS | 29 Jan 15:58
    • Environmental group to file suit against US Steel
    • Houston, 29 January (Argus) — PennFuture, a Pennsylvania-based environmental group, plans to file a law suit against US Steel for alleged violations of the Clean Air Act at the company's Clairton Coke plant. The group said yesterday that it informed US Steel, the Allegheny Health Depar
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    • NEWS | 29 Jan 15:30
    • Antofagasta plans to boost copper output
    • Houston, 29 January (Argus) — Chilean copper miner Antofagasta plans to boost copper production this year by as much as 17pc after decreasing output last year. The company said in 2016 guidance that the increase to 710,000-740,000t will include first full-year production from its 50pc-o
    • Read more
    • COMMENTARY | 29 Jan 00:15
    • Secondary US scrap aluminum mixed
    • Houston, 29 January (Argus) — Secondary aluminum scrap prices were mixed in the US this week amid uneven demand, with only high grade turnings and aluminum copper radiators posting gains. Prices for high-grade turnings increased to 51-52¢/lb from 49-51¢/lb a week earlier, along with cop
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    • NEWS | 28 Jan 23:56
    • Alcoa secures over $10bn in contracts
    • Houston, 28 January (Argus) — Primary US aluminum producer Alcoa won a long-term supply agreement with Boeing for multi-material aerospace parts, making for a total of over $10bn in aerospace contracts for the company in the last 12 months. Alcoa's forgings and extrusions will supply d
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    • NEWS | 28 Jan 22:37
    • Ball profits hit by currency, start-up costs
    • Houston, 28 January (Argus) — Colorado-based aluminum packaging manufacturer Ball's profits fell by 40pc in 2015 from a year earlier amid costs from new operations and foreign exchange fluctuations. The company's profits fell to $281mn in 2015 from $470mn a year earlier. Profits before
    • Read more
    • NEWS | 28 Jan 22:15
    • Timken's shipments drop, expectations low for 2016
    • Houston, 28 January (Argus) — US-based Timken Steel shipped 35pc less steel in the fourth quarter compared to the same quarter a year earlier, reflecting weakness in energy and some industrial markets, but said shipments will rise in the first quarter of 2016. Timken, which makes speci
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    • NEWS | 28 Jan 21:32
    • Caterpillar revenues fall, prepares for weak 2016
    • New York, 28 January (Argus) — Illinois-based mining and earthmoving equipment manufacturer Caterpillar posted a 14.8pc decline in annual sales as a result of falling commodity prices and weak economic growth, and the company anticipates as much as a 15pc decline in sales for 2016. Cat
    • Read more
    • COMMENTARY | 28 Jan 19:22
    • European nickel premiums edge up
    • Houston, 28 January (Argus) — European premiums for nickel edged up in the latest week, with limited activity on the London Metal Exchange (LME) and slightly higher demand for foundry cathodes. Cathode premiums for nickel were at $45-60/t, fob Rotterdam, up from $40-50/t, while foundry
    • Read more
    • COMMENTARY | 28 Jan 19:04
    • European blenders raise stainless buying prices
    • Houston, 28 January (Argus) — Rotterdam and German blenders raised their stainless steel scrap buying prices in the latest week, trying to draw out scrap to meet their sales commitments to steel mills. Scrap 304 grade was at $926/t-970/t, up from $904-926/t a week earlier, while 316 gra
    • Read more
    • NEWS | 28 Jan 18:56
    • Falling oil prices dent pipemaker TMK’s sales
    • Falling oil prices dent pipemaker TMK's sales London, 28 January (Argus) — Russia's largest pipe producer TMK's total sales in 2015 dropped by 11.5pc year-on-year on the back of slowing drilling activity in the US as a result of low oil prices, it said today. The company expects weak mark
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    • NEWS | 28 Jan 17:25
    • Johnson Controls’ sales fall on auto spin-off
    • Johnson Controls' sales fall on auto spin-off Houston, 28 January (Argus) — Diversified US technology manufacturer Johnson Controls' sales fell by 7pc in the latest quarter from a year earlier, primarily because of the deconsolidation of the company's automotive interiors business and for
    • Read more
    • NEWS | 28 Jan 17:17
    • Gerdau supports Sumitomo and JSW joint venture
    • Houston, 28 January (Argus) — Japan-based trading house Sumitomo and steel manufacturer Japan Steel Works will partner with Brazil-based steelmaker Gerdau to manufacture and sell wind power generation forged products. The joint-venture, referred to as "Gerdau Summit", is supported by th
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    • NEWS | 28 Jan 17:07
    • Omen to open aluminum die casting plant in Indiana
    • Houston, 28 January (Argus) — Omen USA, subsidiary of Israeli manufacturer Omen Casting Group, has selected Richmond, Indiana, as the location of its first North American high-pressure aluminum die casting plant. The 75,000ft2 facility will produce approximately 12mn lbs of aluminum die
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    • NEWS | 28 Jan 17:04
    • Nucor ships less, anticipates improvements in 2016
    • Houston, 28 January (Argus) — US steelmaker Nucor shipped less steel at lower prices in the fourth quarter, but is optimistic that the likely imposition of antidumping and countervailing duties will positively impact domestic sheet mills in the first half of 2016. The North Carolina-bas
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    • NEWS | 28 Jan 15:47
    • Transition Metals buys First Nickel assets
    • Houston, 28 January (Argus) — Canadian minerals exploration firm Transition Metals has purchased all exploration and development assets formerly belonging to Toronto-based miner First Nickel. Transition acquired the assets from First Nickel's court-appointed receiver for $100,000 cash a
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    • COMMENTARY | 28 Jan 14:15
    • US FeSi: Market rises on reduced supply
    • London, 28 January (Argus) — US spot ferro-silicon prices rose this week on reduced supply and an increase in domestic consumption at steelmakers. US spot ferro-silicon market was assessed at $0.66-0.69/lb, from $0.64-0.67/lb, basis in-warehouse on 28 January. The rise in the latest as
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    • NEWS | 28 Jan 13:23
    • Canada's Ivanhoe updates Kipushi resource estimate
    • London, 28 January (Argus) — Canadian explorer Ivanhoe Mines has released a new resource estimate for its Kipushi copper-germanium-lead-zinc project in the Haut-Katanga province of the Democratic Republic of Congo (DRC). The Big Zinc Zone of the project now shows a measured and indicat
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    • NEWS | 28 Jan 11:55
    • China tungsten concentrate output up in 2015
    • Beijing, 28 January (Argus) — China's tungsten concentrate output was 13,529t in December, down 13.59pc compared with 15,657t in November and down 6.84pc compared with 14,522t in December 2014, according to China's National Bureau of Statistics. Total output was 141,584t in 2015, up 1.7
    • Read more
    • NEWS | 28 Jan 10:52
    • US imports of FeMo fall 80.1pc in November
    • New York, 28 January (Argus) — US imports of ferro-molybdenum decreased 80.1pc in November from the same period in 2014, but increased 3.5pc from the month before, according to latest figures from the US International Trade Commission (ITC). Imports in November totalled 124,332kg, down
    • Read more
    • COMMENTARY | 27 Jan 23:48
    • Midwest premium rises with LME aluminum
    • Houston, 27 January (Argus) — The midwest premium for primary aluminum rose for a second week as market participants weighed the impact of announced smelter curtailments and London Metal Exchange (LME) prices for aluminum reached their highest level so far this year. LME cash prices for
    • Read more
    • COMMENTARY | 27 Jan 23:25
    • Aluminum UBC spreads widen on LME gains
    • Houston, 27 January (Argus) — The spread between aluminum used beverage can (UBC) prices and the midwest transaction widened today as outright can prices remained the same, failing to rise with London Metal Exchange (LME) aluminum and the midwest premium. The midwest transaction price f
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    • NEWS | 27 Jan 23:18
    • Steel imports capture record US market share
    • Houston, 27 January (Argus) — Finished steel imports accounted for an estimated annual record 29pc of US market share in 2015 despite an uneven decline in share since a January high, as imports fell over the course of the year. Total steel imports during 2015 fell by 12.7pc to 38.72mn n
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    • COMMENTARY | 27 Jan 22:56
    • Copper scrap spreads edge up
    • Houston, 27 January (Argus) — Spreads for US copper scrap were little changed to slightly higher this week, as low inventories are prompting scattered buying interest. Price spreads for bare bright remained at 1-3¢/lb under Comex March, delivered. There were more deals at the 1-2¢/lb ra
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    • NEWS | 27 Jan 22:40
    • US copper cathode premiums flat
    • Houston, 27 January (Argus) — US copper cathode premiums were unchanged in the latest week, amid ample supply and slow demand. Premiums on grade A cathode are holding at 5-6¢/lb above the Comex's most active month, delivered midwest consumer. An isolated spot deal for February delivery
    • Read more
    • NEWS | 27 Jan 21:57
    • Peru increases copper, zinc mining in 2015
    • New York, 27 January (Argus) — Peru's output of copper concentrate rose by 23.5pc to a record last year, as output began at Toromocho and Constancia mines and production recovered at the Antamina mine after a strike late last year. Peru's mined output of concentrate totaled 1.7mn t in 2
    • Read more
    • NEWS | 27 Jan 20:56
    • Caracas promises new Orinoco investment conditions
    • Caracas, 27 January (Argus) — Venezuelan president Nicolas Maduro will soon issue a decree establishing "special investment conditions" for new joint ventures in the remote Orinoco heavy oil belt, energy minister and state-owned PdV chief executive Eulogio del Pino said. "We're going to
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    • COMMENTARY | 27 Jan 19:56
    • European aluminum premiums flat
    • Houston, 27 January (Argus) — European premiums for P1020 aluminum at Rotterdam warehouses remained unchanged this week, reflecting thin trading and ample supply. Premiums on duty unpaid P1020 material traded at $95-100/t and duty unpaid at $150-165/t, both unchanged from the prior week
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    • NEWS | 27 Jan 17:17
    • Antofagasta copper, molybdenum production rises
    • London, 27 January (Argus) — Chilean miner Antofagasta boosted copper production by 8.2pc in the fourth quarter from the third quarter of last year, although overall output in 2015 fell by more than 10pc. Lower output at the company's Los Pelambres and Centinela facilities left annual
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    • NEWS | 27 Jan 17:11
    • CSN shuts down blast furnace for maintenance
    • Houston, 27 January (Argus) — Brazilian steelmaker Companhia Siderurgica Nacional (CSN) plans to idle a blast furnace at its Presidente Vargas works in Rio de Janeiro state for maintenance. CSN will idle its No. 2 blast furnace, which produces about 30pc of the work's output, for three
    • Read more
    • NEWS | 27 Jan 16:29
    • Universal Stainless shipments and revenues drop
    • New York, 27 January (Argus) — Pennsylvania-based specialty steel manufacturer Universal Stainless shipped 16.7pc less material in 2015 than the prior year. The company shipped 32,388t last year compared with 38,869t in 2014, the company said. Shipments in the fourth quarter fell by 36.
    • Read more
    • COMMENTARY | 26 Jan 23:37
    • Aluminum mill scrap prices mixed on down LME
    • Houston, 26 January (Argus) — Spreads for mill grade aluminum scrap were mixed this week as London Metal Exchange (LME) cash prices fell, but sellers were able to increase prices for some items. LME aluminum cash prices settled at $1,480/t today, down the equivalent of approximately 0.5
    • Read more
    • NEWS | 26 Jan 23:28
    • US Steel ships less, braces for weak 2016
    • Houston, 26 January (Argus) — US Steel shipped less steel in the fourth quarter compared to the same period a year prior, and is bracing for worse results in 2016 should adverse market conditions continue. Steel shipments in the fourth quarter fell by 19pc to 3.7mn nt (3.34mn metric ton
    • Read more
    • COMMENTARY | 26 Jan 23:16
    • European copper premiums flat in slow trade
    • Houston, 26 January (Argus) — Premiums for copper cathode in Europe were unchanged this week as consumers have already booked their needs for the first quarter and copper producers and brass mills are operating at high capacity levels. Premiums for copper cathode in Rotterdam warehouses
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    • COMMENTARY | 26 Jan 23:03
    • European copper scrap little changed
    • Houston, 26 January (Argus) — European copper scrap prices remained largely unchanged this week amid tight supply and consumer purchases for March/April deliveries. Milberry scrap remained at 99pc of LME while No. 1 berry/candy traded at 96-96.5pc of LME, both unchanged. The consumer b
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    • NEWS | 26 Jan 22:54
    • Steel Dynamics sees flat scrap prices for 2016
    • Houston, 26 January (Argus) — US producer Steel Dynamics' external shipments of ferrous scrap fell by 18.6pc in the fourth quarter compared to a year prior because of "caustic" market conditions, and the company says it sees little chance for price increases through the rest of 2016. T
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    • NEWS | 26 Jan 20:47
    • Jupiter Aluminum files suit in scrap metal dispute
    • Houston, 26 January (Argus) — Hammond-based recycler Jupiter Aluminum has filed a lawsuit in a northern Indiana court against former employees and two scrap companies, alleging that it paid for 8.82mn lbs of scrap metal it never received or used. Jupiter filed documents yesterday naming
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    • NEWS | 26 Jan 20:05
    • Chile to hold tender for lithium exploration
    • Santiago, 26 January (Argus) — Chile´s state-owned copper mining giant Codelco plans to conduct a tender to evaluate and explore for lithium resources in its Maricunga and Pedernales salt flats in the northern desert region of Atacama. The tender, announced by president Michelle Bachele
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    • NEWS | 26 Jan 18:02
    • ATI ships less on low oil, mining sector demand
    • Houston, 26 January (Argus) — US specialty metals producer Allegheny Technologies sold fewer volumes of flat rolled products at lower prices in the fourth quarter from the same period a year earlier, reflecting falling demand across major product markets. Shipment volumes of flat rolled
    • Read more
    • NEWS | 26 Jan 17:46
    • Freeport-McMoRan plans to boost copper sales
    • Houston, 26 January (Argus) — Diversified US miner Freeport-McMoRan plans to boost its sales of copper by 25pc this year and lower its sales of molybdenum while it intends "to make further adjustments as required" to maintain its copper operations cash-flow positive. The company is targ
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    • NEWS | 26 Jan 16:07
    • AK Steel halts price slide, ships less material
    • Houston, 26 January (Argus) — US producer AK Steel's steel shipments fell by 17.7pc in the fourth quarter from the same year earlier period, largely as the result of the company's decision to focus on sales of value-added products and reduction of spot market sales. Ohio-based AK Steel
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    • NEWS | 26 Jan 15:35
    • US raw steel production rises for third week
    • Houston, 26 January (Argus) — US raw steel production rose by 1.1pc to 1.67mn net tons (1.5mn metric tonnes) in the week ending 23 January compared to the prior week, while capacity utilization rose to 69.8pc. Capacity utilization increased from 69.1pc in the prior week but was off from
    • Read more
    • NEWS | 26 Jan 00:50
    • Steel Dynamics ships less steel, sees stability
    • Houston, 26 January (Argus) — US-based Steel Dynamics shipped less steel to external customers in the fourth quarter compared to the same time a year prior, but sees signs of stability moving into 2016. Indiana-based Steel Dynamics shipped 1.8mn net tons (1.6mn metric tonnes) of steel t
    • Read more
    • COMMENTARY | 25 Jan 23:34
    • Secondary aluminum prices in Europe mixed
    • Houston, 25 January (Argus) — Secondary aluminum prices in Europe have been little changed to lower in the last two weeks as producer report thin margins amid tight volumes of high-cost scrap material. European selling prices for DIN 226 die casting ingot was assessed at 76-79¢/lb fob s
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    • NEWS | 25 Jan 22:26
    • Ryerson names Schnaufer chief financial officer
    • Houston, 25 January (Argus) — Metals processor and distributor Ryerson Holding has appointed Erich Schnaufer its new chief financial officer, effective today. Schnaufer held senior financial roles at Midway Games and Alternative Resources prior to joining Ryerson and previously served
    • Read more
    • NEWS | 25 Jan 21:28
    • Mexican autos a bright spot for aluminum demand
    • Houston, 25 January (Argus) — Mexico's automotive production capacity is forecast to grow by more than 50pc between 2013 and 2019, boosting the country's consumption of aluminum by nearly twice that rate as increasingly lighter-weight vehicles roll off the assembly line. Mexico's 2013 a
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    • NEWS | 25 Jan 20:41
    • Steel Dynamics begins construction on new plant
    • Houston, 25 January (Argus) — US steel producer Steel Dynamics broke ground today on a new paint line and Galvalume facility at its flat rolled steel products facility in Colombus, Mississippi. The company has ordered equipment for construction and expects to begin hiring by the end of
    • Read more
    • NEWS | 25 Jan 19:58
    • Canadian Minerals releases lithium estimates
    • New York, 25 January (Argus) — Vancouver-based junior miner Canadian International Minerals (CIM) released inferred lithium estimates for the company's Leduc Lithium project in Alberta province. A technical report produced by APEX Geoscience for the Leduc project put inferred estimates
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    • NEWS | 25 Jan 17:03
    • Johnson Controls, Tyco to merge
    • Houston, 25 January (Argus) — Wisconsin-based Johnson Controls and Ireland-based Tyco International have entered into a merger agreement aimed at creating a leader in building products and technology, integrated solutions and energy storage. "The proposed combination of Johnson Controls
    • Read more
    • NEWS | 25 Jan 13:29
    • SFP to close London office
    • London, 25 January (Argus) — Veteran cobalt traders Nick French and Stephen English will leave SFP Metals as the company closes its London office on 29 January 2016. The closure of the UK office was confirmed on Friday after the traders did not extend their contract with the company bet
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    • NEWS | 25 Jan 13:26
    • Poseidon flags potential for Australia Ni project
    • Johannesburg, 25 January (Argus) — Perth-based mining company Poseidon Nickel has announced the intersection of significant nickel sulphide mineralisation from a recent drilling programme in Western Australia. The mineralisation provides the potential to develop an economically viable p
    • Read more
    • NEWS | 25 Jan 12:48
    • Eritrea zinc project on track for 2Q commissioning
    • Johannesburg, 25 January (Argus) — Canada-based mining company Nevsun Resources expects ore commissioning to take place in the middle of the second quarter at its Bisha zinc expansion project in Eritrea, with commercial production beginning later in 2016. The project is more than 90pc c
    • Read more
    • COMMENTARY | 22 Jan 23:54
    • This Week in Metals: 18-22 January
    • Prices of most metals and other commodities ended higher this week after crude snapped back from 12-year lows, helping to spur a rebound in equities and providing some relief from fears the global economy is headed towards a downturn. London Metal Exchange (LME) nickel, zinc, tin and le
    • Read more
    • COMMENTARY | 22 Jan 23:50
    • Secondary aluminum alloys in mixed market
    • Houston, 22 January (Argus) — Secondary aluminum alloy A380.1 gained this week on tighter supply, while other secondary alloy prices were mixed. A380.1 prices rose to 85-86¢/lb from 84-86¢/lb a week early, a move which at least one participant attributed to tighter supply of secondary a
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    • NEWS | 22 Jan 22:34
    • LME aluminum premium contracts yet to take off
    • Houston, 22 January (Argus) — No physical buyers of aluminum housed in London Metal Exchange (LME) warehouses have adopted the exchange's aluminum premium contracts since they were launched in November, according to LME product development head Oscar Wehtje. "The need for premium contra
    • Read more
    • NEWS | 22 Jan 22:31
    • Horsehead plans to idle North Carolina facility
    • Houston, 22 January (Argus) — US-based zinc producer Horsehead Holding plans to temporarily idle its zinc production facility in North Carolina. The plant, located in Mooresboro, is capable of producing over 150,000t (136,077 metric tonnes) of special high-grade zinc, including continu
    • Read more
    • COMMENTARY | 22 Jan 20:34
    • US export prices for aluminum scrap fall
    • Houston, 22 January (Argus) — Scrap export prices for US aluminum dropped by 1-2¢//lb this week as Chinese prices of finished product fell to levels last seen in late 2015. US export sales to China slowed as buyers there held out for lower priced scrap. Secondary aluminum inventories of
    • Read more
    • NEWS | 22 Jan 19:25
    • Scrap companies, smelters adjust to low aluminum
    • Houston, 22 January (Argus) — Participants in the US aluminum scrap market may have to rethink operational strategies in 2016 to cope with prolonged, low primary and alloy prices. The London Metal Exchange price started the year at $1,466/t, down by 20pc from more than $1,821.5/t on the
    • Read more
    • NEWS | 22 Jan 18:57
    • Stainless steel scrap processor prices rise
    • Houston, 22 January (Argus) — Processor buying prices for US stainless steel scrap edged up this week, reflecting stronger nickel prices on the London Metal Exchange. Process buying prices for 304 (18-8) scrap solids were traded in the range of $830-915/gross ton, up from $830-895/gt a
    • Read more
    • COMMENTARY | 22 Jan 18:50
    • Secondary scrap prices up on winter weather
    • Houston, 22 January (Argus) — Prices for secondary aluminum scrap rose this week as colder weather restricted peddler flows into dealer yards. Aluminum copper radiators increased to $1-1.05/lb from $1-1.03/lb a week earlier as front month Comex copper settled 2¢ higher than a week ago.
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    • COMMENTARY | 22 Jan 18:30
    • Molybdenum strength boosts surcharges: Correction
    • Houston, 22 January (Argus) — U.S. stainless steel producers increased surcharges on type 316 stainless steel for the first time in eight months as prices of the alloy's component molybdenum rose. Allegheny Technologies pushed up its type 316 surcharge for February deliveries to $41.55/
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    • COMMENTARY | 22 Jan 18:30
    • Molybdenum strength boosts surcharges for February
    • Houston, 22 January (Argus) — U.S. stainless steel producers increased surcharges on type 316 stainless steel for the first time in eight months as prices of the alloy's component molybdenum rose. Allegheny Technologies pushed up its type 316 surcharge for February deliveries to $41.55/
    • Read more
    • NEWS | 22 Jan 16:35
    • Lundin Mining eyes more copper, zinc output
    • Lundin Mining eyes more copper, zinc output Houston, 22 January (Argus) — Canada-based Lundin Mining plans to boost output of copper and zinc this year after outperforming on its copper output guidance last year. Lundin Mining is targeting copper output of 241,500-255,000t in 2016, after
    • Read more
    • NEWS | 22 Jan 12:37
    • Weatherly's Tschudi mine attains commercial output
    • Johannesburg, 22 January (Argus) — AIM-listed mining company Weatherly International produced 4,076t of copper cathode in the December 2015 quarter at its Tschudi opencast mine in Namibia. The quarter was Weatherly's first period of commercial production after ramping up the mine up ove
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    • NEWS | 22 Jan 12:35
    • Woodie Woodie manganese ore mine to shut
    • Johannesburg, 22 January (Argus) — Woodie Woodie manganese ore mine in Western Australia will shut next month, owner Consolidated Minerals said. The company is putting the project on care and maintenance, with around 380 workers and contractors affected. The suspension is a result of th
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    • COMMENTARY | 22 Jan 00:03
    • European stainless steel scrap flat
    • Houston, 22 January (Argus) — Prices for stainless steel scrap in northern Europe held unchanged in the latest week as demand remained stable and blenders are finding enough material to meet their commitments. Stainless steel prices in northern Europe remained at 41-42¢/lb for 304 and a
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    • COMMENTARY | 21 Jan 23:26
    • European nickel premiums narrow
    • Houston, 21 January (Argus) — European premiums for nickel narrowed this week amid increased buying of full plate cathode and limited availability of quality material. Premiums were at $40-50/t this week, compared with $40-60/t a week earlier. Foundry premiums are at $190-200/t, up by
    • Read more
    • NEWS | 21 Jan 21:55
    • USSC motions for debt deadline extension
    • Houston, 21 January (Argus) — US Steel Canada (USSC) tomorrow is scheduled to ask its Ontario bankruptcy court to extend its debtor-in-possession (DIP) agreement set to expire on 28 January. In tomorrow's hearing, USSC will attempt to push the DIP agreement expiration to 28 July after i
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    • COMMENTARY | 21 Jan 20:44
    • US metcoal: Prices mainly lower amid turbulence
    • Houston, 21 January (Argus) — Spot prices of US coking coal were mainly lower in the latest week as global equity and commodity markets weakened sharply amid rising concern China's economic slowdown will deepen. Crude fell to 12-year lows this week and global equities declined sharply o
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    • NEWS | 21 Jan 18:32
    • PPG sales boosted by acquisitions
    • New York, 21 January (Argus) — Pittsburgh-based coatings producer PPG Industries' sales were little changed at $15.3bn in 2015 from the prior year, as acquisition-related sales helped offset negative foreign currency effects on sales. PPG boosted full year profits by 24pc to $1.4bn, led
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    • NEWS | 21 Jan 18:01
    • Mexico signs Kuwait energy deal during Gulf tour
    • Mexico City, 21 January (Argus) — Mexico strengthened its commercial ties with Kuwait during Mexican president Enrique Peña Nieto's state visit yesterday, part of a larger Middle East Gulf tour. Mexico's iron ore and steel specialists and pipes maker Tenaris Tamsa, a branch of Argentin
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    • NEWS | 21 Jan 17:27
    • US Steel may idle Lone Star tubular operations
    • Houston, 21 January (Argus) — US Steel may idle or curtail output at its Texas-based tubular operations beginning 16 March as falling crude prices have battered demand for drilling equipment. The company filed a Worker Adjustment and Retraining Notification (WARN) notice with the Texas
    • Read more
    • NEWS | 21 Jan 17:07
    • Oz Minerals reports record copper output
    • Johannesburg, 21 January (Argus) — Australian copper and gold mining company Oz Minerals produced 130,305t of copper last year and expects to make an investment decision on its new Carrapateena project in South Australia in February, it said. Oz Minerals' produced 32,636t of copper in t
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    • COMMENTARY | 21 Jan 15:56
    • Aluminum curtailments boost US premium
    • Houston, 21 January (Argus) — The US midwest premium paid for primary aluminum increased this week as London Metal Exchange (LME) prices for primary metal moved back into contango. Midwest buyers paid 8.9-9¢/lb, up from 8.75-9¢/lb the prior week as LME cash official prices settled today
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    • COMMENTARY | 21 Jan 14:26
    • LME nickel rises as surplus narrows
    • London, 21 January (Argus) — London Metal Exchange (LME) nickel traded higher this week as the global surplus of the metal narrowed and mining companies continued announcing production cuts. Three-month nickel futures traded at $8,630/t on Thursday, up from $8,380/t a week ago. The Int
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    • NEWS | 21 Jan 10:42
    • IFL settles UG2 agreement with Rustenburg Platinum
    • Johannesburg, 21 January (Argus) — Australia-based integrated chrome and ferro-chrome firm International Ferro Metals (IFL) has reached a settlement with South Africa's Rustenburg Platinum Mines (RPM) regarding the supply of UG2 chrome ore for the production of ferro-chrome. IFL launche
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    • NEWS | 21 Jan 10:15
    • Zinc gains in South32 1H production update
    • Johannesburg, 21 January (Argus) — Southern hemisphere-focused resource group South32 increased its zinc output to record levels in the six months to end December. But its production of manganese ore, manganese alloys, aluminium, alumina, silver, lead, energy coal and metallurgical coal
    • Read more
    • NEWS | 21 Jan 09:55
    • South32 Mn rises in Australia, falls in S Africa
    • Johannesburg, 21 January (Argus) — Southern hemisphere resource group South32 reported record manganese ore output from Australia in the six months to 31 December, as well as a rise in alloy production. This partially offset major falls in ore and alloy output from its battling South Afr
    • Read more
    • COMMENTARY | 20 Jan 23:07
    • European aluminum premiums fall
    • Houston, 20 January (Argus) — European aluminum premiums fell in the latest week amid thin trading and ample supply. The P1020 duty paid spot premium traded down at $150-170/t fob Rotterdam warehouses today, off by $20/t from last week. Duty unpaid was at $95-110t, down by $15-20 from
    • Read more
    • NEWS | 20 Jan 22:46
    • Precision to sell equipment and other assets
    • Houston, 20 January (Argus) — California-based stainless steel conversion mill Precision Specialty Metals will sell all of its equipment at auction early next month. Equipment for sale includes temper rolling mills, annealing and pickle lines, and other plant support equipment, the comp
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    • NEWS | 20 Jan 22:36
    • Essar under pressure to find buyers, investors
    • Houston, 20 January (Argus) — Indian-owned Essar Steel Algoma will begin seeking buyers or investors for its steelworks operation in Sault Ste. Marie, Canada, as a debt repayment deadline looms. The Ontario-based company, a member of the India-based Steel Algoma group, secured a $200mn
    • Read more
    • COMMENTARY | 20 Jan 21:45
    • US copper premiums flat amid ample stocks
    • Houston, 20 January (Argus) — US copper cathode premiums were flat this week as most consumers still had metal in inventory after end-of-year stockpiling. Market participants said copper prices garnered some support from China's reported economic growth rate of 6.9pc last year, the slow
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    • NEWS | 20 Jan 20:08
    • Canada service center aluminum stocks down 16pc
    • Houston, 20 January (Argus) — Canadian service center aluminum inventories fell by 16pc in December from a year earlier, while months' supply fell to 2.9 months from 3 months the prior month. Service center aluminum inventories fell to 34,300net tons (31,116metric tonnes) from 35,700nt
    • Read more
    • NEWS | 20 Jan 20:02
    • Canada service center steel inventories rise
    • Houston, 20 January (Argus) — Canadian service center steel inventories rose by 0.8pc in December from the prior month while seasonally adjusted shipments fell by 3.2pc, according to data compiled by the Metals Service Center Institute. Seasonally adjusted inventories rose to 1.3mn net
    • Read more
    • NEWS | 20 Jan 18:09
    • China's steel PMI rebounds in December: Correction
    • Corrects time references to 3 January. Singapore, 20 January (Argus) — China's steel purchasing managers index (PMI) rose by 3.6 points to 40.6 in December after hitting a seven-year low in November, as demand strengthened and the rate of contraction decreased, despite a fall in a key
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    • NEWS | 20 Jan 17:23
    • Europe FeW spot set for fall after lower tender
    • London, 20 January (Argus) — Two truckloads of the German steelmaker Bous tender went at €20.75/kg ($22.61) for the first delivery on 27 January, and €20.70 ($22.71) for the second shipment due on 10 February. The tenders are widely seen as a bellwether for the European spot market. Ano
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    • NEWS | 20 Jan 17:12
    • Manganese output at Cancana JV to fall in Q1
    • New York, 20 January (Argus) — Brazil Manganese Corporation (BMC), a joint venture between Canadian mining firm Cancana Resources and partner Ferrometals, said production of manganese mineral product is expected to be lower in the first quarter of 2016 compared with the prior quarter. V
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    • NEWS | 20 Jan 17:04
    • WTR advances Madagascar heavy minerals project
    • Johannesburg, 20 January (Argus) — Melbourne-based World Titanium Resources has completed a scoping study showing the viability of treating 12mn t/yr of heavy mineral materials at its Ranobe minerals sands project on the west coast of Madagascar. The study incorporates a 17-year mine li
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    • NEWS | 20 Jan 16:58
    • Largo Resources launches $26.5mn private placement
    • New York, 20 January (Argus) — Canadian mining firm Largo Resources, which is ramping up vanadium production at the Maracas Menchen mine in Brazil's northeast Bahia state, said it has arranged a non-brokered private placement offering for expected proceeds of up to $26.5mn. The Toronto-
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    • NEWS | 20 Jan 16:07
    • Zinc maker Horsehead secures debt forbearance
    • Houston, 20 January (Argus) — US zinc-based products maker Horsehead Holdings has reached debt forbearance and amendment agreements with two creditor banks after failing to make a scheduled 1 January payment on a convertible senior note. The agreements were made last week with Macquarie
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    • NEWS | 20 Jan 15:54
    • Mubadala to acquire Brazil mining, oil stakes
    • Rio de Janeiro, 20 January (Argus) — Abu Dhabi's government-owned Mubadala Development plans to acquire stakes in four companies from the rubble of erstwhile Brazilian tycoon Eike Batista's EBX commodities empire. Mubadala will pick up an 11.47pc stake in oil company OGP, a 28.79pc sta
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    • NEWS | 20 Jan 15:36
    • China's steel PMI rebounds in December
    • Singapore, 20 January (Argus) — China's steel purchasing managers index (PMI) rose by 3.6 points to 40.6 in December after hitting a seven-year low in November, as demand strengthened and the rate of contraction decreased, despite a fall in a key manufacturing PMI that triggered turmoil
    • Read more
    • NEWS | 20 Jan 13:58
    • US trucking volume rises 1pc in December
    • New York, 20 January (Argus) — US trucking volume rebounded 1pc in December after a fall of 0.9pc the month prior, according to data from the American Trucking Association (ATA). ATA advanced seasonally adjusted for hire truck tonnage index for December was 135.6 compared with 134.3 in
    • Read more
    • NEWS | 20 Jan 13:54
    • EU extends response time in SiMn probe
    • London, 20 January (Argus) — European Commission has extended the date for final responses into its anti-dumping investigation of silico-manganese imports from India to the European Union (EU), a senior industry participant said. Commission has received responses from Indian producers a
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    • NEWS | 20 Jan 11:40
    • BHP Billiton maintains copper guidance
    • Johannesburg, 20 January (Argus) — Global resources giant BHP-Billiton produced less copper and nickel in six months to 31 December than in the previous corresponding period while its zinc output remained roughly the same and silver production rose sharply. The company said in productio
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    • COMMENTARY | 20 Jan 00:28
    • Aluminum extrusion and mill scrap tracks LME
    • Houston, 20 January (Argus) — Spreads for most grades of mill grade aluminum scrap remained little changed this week, as outright prices kept pace with the London Metal Exchange (LME) price for primary metal. LME official cash prices increased today by the equivalent of a penny/lb to $1
    • Read more
    • COMMENTARY | 19 Jan 23:18
    • Copper premiums rise in Europe as LME gains
    • Houston, 19 January (Argus) — Premiums for copper cathode in Europe climbed amid a pickup in spot business as participants drifted back from holidays and prices on the London Metal Exchange (LME) pushed back from six-year lows. Premiums for copper cathode in Rotterdam warehouses rose
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    • NEWS | 19 Jan 22:23
    • US steel exports remain weak in November
    • Houston, 19 January (Argus) — US steel exports in November fall by 9.3pc in November from the prior month, driven mostly by low oil prices and weakness in the Canadian economy. US exports fell to 712,164 net tons (646,064 metric tonnes) in November from October, and were down by more th
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    • NEWS | 19 Jan 22:23
    • US steel exports fall on Canada, oil weakness
    • Houston, 19 January (Argus) — US steel exports in November fall by 9.3pc in November from the prior month, driven mostly by low oil prices and weakness in the Canadian economy. US exports fell to 712,164 net tons (646,064 metric tonnes) in November from October, and were down by more th
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    • NEWS | 19 Jan 21:15
    • Alcoa delays idling of Intalco aluminum smelter
    • Houston, 19 January (Argus) — Alcoa will delay the idling of its Intalco aluminum smelter in Ferndale, Washington state, until the second quarter of the year, citing favorable changes in raw material and energy costs. It is more cost effective in the near term to temporarily keep the sm
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    • NEWS | 19 Jan 20:24
    • Stainless steel stocks down at service centers
    • Houston, 19 January (Argus) — Stainless steel inventories at US service centers fell by 19.4pc to 435,700net tons (nt) (399,000metric tonnes) in December from 540,500nt a year earlier, representing a seasonally adjusted 2.8 months' supply. Seasonally adjusted December stainless shipment
    • Read more
    • NEWS | 19 Jan 20:16
    • US service center steel inventories edge lower
    • Houston, 19 January (Argus) — US service center inventories for steel fell in December by 2.9pc from the prior month while seasonally adjusted shipments remained flat, according to the Metals Service Center Institute. Total steel products seasonally adjusted inventories fell to 8.3mn ne
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    • NEWS | 19 Jan 19:22
    • Evraz North America slows steel output
    • Houston, 19 January (Argus) — The North American unit of Russian steel producer Evraz produced less raw and finished steel products in the fourth quarter compared to the same period a year earlier, partly reflecting increased competition from imports and decreased demand from the energy
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    • NEWS | 19 Jan 19:22
    • Samarco in compensation talks over ore dam breach
    • Sao Paulo, 19 January (Argus) — BHP Billiton-Vale iron ore mining joint venture Samarco began negotiations this week with federal and state governments over compensation for environmental, social and economic damages resulting from the 5 November rupture of its tailings dam. Attorney ge
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    • NEWS | 19 Jan 19:18
    • Brazil's domestic steel sales, consumption tumble
    • London, 19 January (Argus) — Brazil's apparent steel consumption — the sum of domestic sales and imports — dropped last year by 17pc year on year to 21.3mn t, while domestic steel sales fell by 16pc to 18.2mn t, the Brazil Steel Institute (IABr) said. Brazil's domestic steel demand in 2
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    • NEWS | 19 Jan 19:06
    • Votorantim suspends Ni-Co operations in Brazil
    • London, 19 January (Argus) — Brazilian mining company Votorantim said on Tuesday that it is suspending its nickel-cobalt mining and refining operations in Niquelândia and São Miguel Paulista respectively in light of low nickel prices. Mining operations at Niquelândia in the northern Goi
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    • NEWS | 19 Jan 18:21
    • Pure Metal Recycling assets to be auctioned off
    • Houston, 19 January (Argus) — Assets belonging to Chicago-based Pure Metal Recycling, which permanently closed all of its facilities in December, will be auctioned off later this month. On 29 January, as many as four lots containing scrap yard equipment, intellectual property, and real
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    • NEWS | 19 Jan 18:20
    • H.C. Starck confirms tantalum conflict-free status
    • London, 19 January (Argus) — Germany-based technology metals and ceramics producer H.C. Starck has received certification for processing conflict-free tantalum raw materials. Audit was performed by independent organisation the Electronics Industry Citizenship Coalition (EICC) and the Gl
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    • NEWS | 19 Jan 18:15
    • ATI writes off $267mn amid idlings and low prices
    • Houston, 19 January (Argus) — US specialty metals producer Allegheny Technologies (ATI) will write off $267mn in goodwill charges, mainly related to the idling of its facilities in Pennsylvania, and as the result of reduced raw material prices. The asset impairment charges will include
    • Read more
    • COMMENTARY | 19 Jan 17:47
    • Freight: Cape rates reach new lows
    • London, 19 January (Argus) — The cost of iron ore freight reached new lows today as Atlantic fronthaul Capesize rates continued to decline. The cost of freight between Tubarao and Qingdao fell again having not moved upwards since 9 December. Brazilian iron ore producer Vale booked a sh
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    • NEWS | 19 Jan 17:38
    • Nickel in 53,200t surplus in Jan-Nov 2015
    • London, 19 January (Argus) — Global nickel market was in a 53,200t surplus in the first 11 months of 2015, or about 50pc less than in the same period of 2014, said data from the International Nickel Study Group. World nickel usage increased to 1.738mn t in the January to November period
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    • NEWS | 19 Jan 16:55
    • Capstone targets gains in copper output
    • New York, 19 January (Argus) — Canadian miner Capstone Mining is targetting a 16pc gain in its copper output this year from 2015. The company expects to produce 108,000t of copper during 2016, compared with 92,900t of concentrate and cathode produced last year. Capstone has increased M
    • Read more
    • NEWS | 19 Jan 16:09
    • US raw steel production increases
    • Houston, 19 January (Argus) — US raw steel production rose by 3.6pc to 1.65mn net tons (1.49mn metric tonnes) in the week ending 9 January compared to the prior week, while capacity utilization rose to 69.1pc. Capacity utilization increased from 66.7pc in the prior week but was off from
    • Read more
    • NEWS | 19 Jan 15:19
    • Rio Tinto's copper and molybdenum output falls
    • London, 19 January (Argus) — UK-Australian resources group Rio Tinto's mined copper production fell by 16pc to 504,000t in 2015 compared with the previous year because of lower output at its Kennecott Utah Copper subsidiary in the US. Rio Tinto expects its mined copper production to inc
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    • NEWS | 19 Jan 13:40
    • Peel Mining flags new Cu deposit in Australia
    • London, 19 January (Argus) — Perth-based Peel Mining believes that encouraging drilling results have confirmed the discovery of a new and potentially high grade copper deposit at Wirlong within the Cobar Superbasin project in New South Wales. Multiple significant mineralised intervals h
    • Read more
    • NEWS | 19 Jan 12:43
    • Aquarius shareholders agree takeover by Sibanye
    • Johannesburg, 19 January (Argus) — Shareholders in Platinum group metals mining company Aquarius Platinum have approved its amalgamation into Sibanye Gold which yesterday said its own shareholders had approved its proposed purchase of assets from Rustenburg Platinum Mines. Sibanye made
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    • NEWS | 18 Jan 21:34
    • Center-right rivals vie in copper, gas-rich Peru
    • Lima, 18 January (Argus) — Peru's presidential race has entered the final stretch at a time when the copper and gas-driven economy is decelerating. Keiko Fujimori, daughter of jailed former president Alberto Fujimori (1992-2000), would garner 33pc of the votes if the 10 April election w
    • Read more
    • NEWS | 18 Jan 16:54
    • Kluchevsky cuts Cr sales after Russia contract
    • London, 18 January (Argus) — Russian chromium and ferro-chrome producer Kluchevsky Ferroalloy Plant expects to reduce its supply of chromium metal to the European spot market in the next two months as it focuses on long-term contracts. The plant, a subsidiary of MidUral Group, has secur
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    • NEWS | 18 Jan 16:42
    • Zinc in surplus as China, India increase output
    • London, 18 January (Argus) — Global refined zinc market was in a surplus of 176,000t over the first eleven months of last year with total reported inventories declining by 5,000t over the same period, said the latest data from the International Lead and Zinc Study Group. Between January
    • Read more
    • NEWS | 18 Jan 15:21
    • Drilling extended at Botswana Mahumo project
    • Johannesburg, 18 January (Argus) — Perth-based mining company MOD Resources has said it is working with partner Metal Tiger to explore high quality targets at its Botswana copper/silver project. It plans to drill for extensions below the high grade Mahumo resource which is around 100km
    • Read more
    • NEWS | 18 Jan 15:11
    • Consolidated Zinc nears Mexico resource estimate
    • Johannesburg, 18 January (Argus) — Perth-based mining company Consolidated Zinc has said that drilling results obtained at its 51pc-held Plomosas zinc/lead/silver project in Mexico will assist it in determining a maiden resource estimate. Company is continuing to examine the distributio
    • Read more
    • NEWS | 18 Jan 15:04
    • Sibanye shareholders approve PGM/chrome purchase
    • Johannesburg, 18 January (Argus) — South African precious metals producer Sibanye Gold's shareholders have approved the proposed acquisition of platinum group metal and chrome assets from Anglo American Platinum subsidiary Rustenburg Platinum Mines. Shareholders have approved its Septem
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    • NEWS | 18 Jan 14:54
    • Georgian Manganese to shut Mn ore production
    • London, 18 January (Argus) — Mining company Georgian Manganese will temporarily suspend its manganese ore mining and production at its Chiatura operations in central Georgia from 20 January for four months because of low international prices, an official at the company said Monday. Move
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    • NEWS | 18 Jan 14:40
    • Sherritt nickel, cobalt production rises in 2015
    • London, 18 January (Argus) — Canadian nickel-cobalt producer Sherritt International reported an increase in production at its joint venture subsidiaries in 2015. The Ambatovy JV in Madagascar produced 47,271t of nickel and 3,464t of cobalt, an increase of 28pc in nickel production and 1
    • Read more
    • NEWS | 18 Jan 14:33
    • Ulba Ta production dips, Nb rises in 2016
    • London, 18 January (Argus) — Ulba Metallurgical Plant in Kazakhstan produced 141.251t of tantalum products and 96.944t of niobium products in 2015, said its parent company, state corporation Kazatomprom. This represents an 8.55pc drop in the plant's tantalum production from 154.45t repo
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    • NEWS | 18 Jan 13:24
    • Nyrstar approves €275mn share offering
    • London, 18 January (Argus) — Shareholders of Belgian zinc and minor metals producer Nyrstarhave approved a new rights offering of a maximum of €275mn. Existing shareholders will have preferential subscription rights to new shares. Nyrstar will also cancel 12.571mn shares held by the co
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    • NEWS | 18 Jan 13:05
    • Cancana JV sells 7,500t of manganese
    • London, 18 January (Argus) — Brazil Manganese Corporation (BMC), a joint venture between Canadian mining firm Cancana Resources and partner Ferrometals, made a 7,500t sale of manganese product this month. Sale follows sample shipments last month, and is a step forward with what is now B
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    • NEWS | 18 Jan 12:18
    • UG2 supply contract hits sale of IFL chrome assets
    • Johannesburg, 18 January (Argus) — Australia-based integrated chrome and ferro-chrome producer International Ferro Metals (IFL) has asked a Johannesburg court to order Rustenburg Platinum Mines to continue supplying chrome-rich UG2 ore to its South African operations which are in busines
    • Read more
    • NEWS | 15 Jan 23:36
    • Teck files tax complaint to Alaskan superior court
    • New York, 15 January (Argus) — Canadian mining group Teck Resources filed a complaint in the Alaskan Superior Court over a tax increase affecting its lead and zinc Red Dog mine that would increase its payments to the state to $30-40mn per year, the company said. Teck Alaska has provided
    • Read more
    • NEWS | 15 Jan 23:31
    • Ecuador looks to draw $4bn in copper investments
    • Quito, 15 January (Argus) — Ecuador expects to attract as much as $4bn in investment over the next five years from Canadian and Chinese companies for four key mining projects, including the development of the Mirador and the Fruta Del Norte (FDN) large-scale cooper and gold deposits, acc
    • Read more
    • COMMENTARY | 15 Jan 23:10
    • This Week in Metals 11-15 January
    • Houston, 15 January (Argus) — European and Chinese equities officially entered bear markets this week as oil prices fell to their lowest levels in 12 years amid concerns of accelerating weakness in the Chinese economy and signs of slowing growth in the US and elsewhere. Both the Europe
    • Read more
    • ANALYSIS | 15 Jan 21:25
    • Mixed signals muddle February outlook for US scrap
    • Houston, 15 January (Argus) — A mixed week for US scrap and steel markets has sparked a lot of uncertainty over the direction of domestic scrap prices next month. US bulk export prices to Turkey dropped by $7/t in three days of trading this week, while west coast bulk prices increased b
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    • ANALYSIS | 15 Jan 21:08
    • West coast bulk market ends two-month lull
    • Houston, 15 January (Argus) — US west coast exporters sold at least six bulk cargoes to buyers this past week as low freight rates opened the door to longer-distance sales. The uptick in sales sent coastal fas scrap prices for bulk up by $12/t from a week earlier. Thailand and India boo
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    • COMMENTARY | 15 Jan 20:56
    • US ferromolybdenum prices rise
    • Houston, 15 January (Argus) — US ferromolybdenum prices rose by 6.1pc today from a week earlier, amid production cutbacks and low inventories. US ferromolybdenum spot prices traded in a range of $6.40-6.60/lb, up by 6.1pc from $6-6.25/lb a week earlier. Molybdenum oxide prices were $5.5
    • Read more
    • COMMENTARY | 15 Jan 19:46
    • US aluminum scrap export prices rise
    • Houston, 15 January (Argus) — Prices of US aluminum scrap exported to China rose this week as buyers rushed to plug inventory shortfalls ahead of the lunar new year holiday next month. Japanese buyers in mid-December tapped Chinese suppliers for secondary aluminum ingot to fill their ye
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    • NEWS | 15 Jan 19:36
    • Union claims gains in talks with ArcelorMittal
    • Houston, 15 January (Argus) — Luxembourg-based steel producer ArcelorMittal has dropped its demand for active employees to pay monthly premiums for medical coverage in its negotiations with the United Steelworkers (USW) union. USW is still displeased with the company's demand that woul
    • Read more
    • COMMENTARY | 15 Jan 19:32
    • WEEK IN REVIEW: Shaky start to 2016
    • London, 15 January (Argus) — With Brent crude dipping under $30/bl this week and BHP Billiton announcing a write-off on US shale gas assets, 2016 is off to a shaky start in the commodities markets. Falling oil and gas prices point to another difficult year for offshore and onshore exp
    • Read more
    • NEWS | 15 Jan 16:18
    • Court battle begins over US Steel Canada
    • Houston, 15 January (Argus) — A hearing began at an Ontario bankruptcy court yesterday to determine if US Steel is owed for investments it made in facilities owned by its indirect subsidiary US Steel Canada (USSC). US Steel argues it should receive priority treatment as a creditor for t
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    • NEWS | 15 Jan 16:04
    • European Metals upbeat on Czech lithium project
    • Johannesburg, 15 January (Argus) — Perth-based mining firm European Metals has said that assay results from drilling at its Cinovec lithium-tin project in the Czech Republic show that mineralisation is "robust and continuous." Further drilling and sampling is underway and a mini plant t
    • Read more
    • NEWS | 15 Jan 15:54
    • Traka advances Yallalong antimony project
    • Johannesburg, 15 January (Argus) — Perth-based mining company Traka Resources has reported encouraging drilling results from its Yallalong antimony project in Australia. Seven intersections of narrow high grade and broader low grade antimony mineralisation has been achieved through a re
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    • NEWS | 15 Jan 15:48
    • American Vanadium agrees to buy battery maker
    • Sao Paulo, 15 January (Argus) — Prospective vanadium miner American Vanadium has agreed to acquire Germany's DMG MORI's Gildemeister subsidiary, manufacturer of the CellCube vanadium flow energy storage system. Under the agreement American Vanadium has the sole right to sign a share pur
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    • NEWS | 15 Jan 15:23
    • European regulators to require Ball divestitures
    • Houston, 15 January (Argus) — European Commission regulators have granted conditional approval for US-based aluminum packaging manufacturer Ball's acquisition of British competitor Rexam after the company completes a series of divestitures. The commission will require Ball to sell eight
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    • NEWS | 15 Jan 14:17
    • US automotive supplier outlook falls in January
    • New York, 15 January (Argus) — US automotive supplier outlook fell slightly lower in January, but remained in positive territory on solid sales and bullish forecasts for this year, a monthly survey by the Original Equipment Suppliers Association (OESA) said. OESA automotive supplier bar
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    • NEWS | 15 Jan 14:07
    • EU proposes to end SiMn AD case against India
    • London, 15 January (Argus) — European Commission has made a preliminary decision to end its investigation into alleged dumping of silico-manganese from India to the European Union (EU), said a senior industry participant. Commission has said that there is a "lack of coincidence in time"
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    • NEWS | 15 Jan 14:01
    • Peninsula files lithium applications
    • Johannesburg, 15 January (Argus) — Perth-based mining company Peninsula Mines said today that its South Korean subsidiary has filed two tenement applications over land adjacent to the Boam Lithium Mine and five applications over pegmatites considered prospective for lithium and tin miner
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    • NEWS | 15 Jan 13:35
    • China copper imports up in 2015
    • Beijing, 15 January (Argus) — China's copper concentrate imports totalled 13.29mn t in 2015, up by 12.5pc compared with 2014, according to official customs data. Imports increased to 1.48mn t in December 2015, marking the highest monthly imports of last year, up by 26.5pc from December
    • Read more
    • COMMENTARY | 15 Jan 00:34
    • Secondary aluminum scrap prices in mixed market
    • Houston, 15 January (Argus) — Aluminum scrap prices for most secondary grades, barring old cast and aluminum-copper radiators, were unchanged this week amid tight supply. Flows of grades brought to dealer yards by peddlers, such as old cast aluminum, were the tightest. Peddlers have y
    • Read more
    • NEWS | 14 Jan 23:55
    • Chile copper agency lowers price outlook
    • Houston, 14 January (Argus) — The Chilean Copper Commission, Cochilco, today lowered its 2016 copper price estimate by 35¢/lb from its prior outlook in September, and warned that a quickening depreciation of the Chinese yuan may push prices lower. Cochilco forecasts copper prices will a
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    • NEWS | 14 Jan 20:00
    • Sadoff Iron and Metal to grow Nebraska facility
    • Houston, 14 January (Argus) — Sadoff Iron and Metal will begin expanding a Nebraska recycling facility in March. The facility is being expanded in an effort to grow its nonferrous indoor processing capability, company president Jason Lasky said. New additions will include a nonferrous b
    • Read more
    • COMMENTARY | 14 Jan 19:51
    • Aluminum can spreads show strength
    • Houston, 14 January (Argus) — Aluminum used beverage can price spreads are expected to tighten as low prices have constricted supply. Prices were steady this past week at 14¢/lb or 81pc of the midwest transaction price for primary aluminum but buyers have started to narrow spreads to ra
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    • NEWS | 14 Jan 19:07
    • Thompson Creek copper sales, production increase
    • New York, 14 January (Argus) — Colorado-based copper and molybdenum producer Thompson Creek Metals produced 71.4mn lbs (32,400t) of payable copper in 2015, an 11pc increase from a year earlier. Thompson Creek increased copper sales by 18pc to 76.5mn lbs from a year earlier, the company
    • Read more
    • NEWS | 14 Jan 18:32
    • Shiloh Industries boosts sales, profits
    • Houston, 14 January (Argus) — Ohio-based automotive part manufacturer Shiloh Industries increased profits by 8pc in the fourth quarter from a year earlier. The company generated $20.2mn in profit during the quarter ended October 31, up from $18.7mn, as sales were little changed at $296.
    • Read more
    • NEWS | 14 Jan 17:36
    • US Steel's PRO-TEC taps Veitch as president
    • Houston, 14 January (Argus) — Richard Veitch will succeed Brent Rosebrook as president of Ohio-based coating company PRO-TEC, a 50-50 venture between US Steel and Kobe Steel. Brent Rosebrook has served as an interim president since Bryan Vaughn's retirement in June 2015. Michael Terry
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    • NEWS | 14 Jan 17:25
    • Codelco tightens belt again as copper falls
    • Santiago, 14 January (Argus) — Chile´s state-owned copper producer Codelco aims to reduce cash costs by 11pc to $1.255/lb, equivalent to $574mn, by the end of 2016 in response to sliding copper prices. Adding to more than $1.1bn in cost savings in 2015, the company is targeting a total
    • Read more
    • NEWS | 14 Jan 17:15
    • US copper output rises in September
    • Houston, 14 January (Argus) — US production of mined copper rose by 4pc in September from the same month a year earlier while production of refined copper increased by 8pc. Mine production of recoverable copper totaled 116,000t in September, compared with 112,000t a year earlier, the US
    • Read more
    • COMMENTARY | 14 Jan 00:10
    • US aluminum premium posts flat month
    • Houston, 14 January (Argus) — US midwest premiums for primary aluminum marked their fourth week at current levels as London Metal Exchange (LME) prices remained stagnant. The premium stayed in a range of 8.75-9¢/lb as LME cash prices were nearly flat compared to a week earlier, falling
    • Read more
    • COMMENTARY | 13 Jan 23:29
    • US copper scrap spreads widen
    • Houston, 13 January (Argus) — US bare bright and No. 1 copper scrap price spreads widened by 1¢/lb this week as dealers scrambled to find buyers to maintain cash flow. Consumer buying price spreads for bare bright were assessed at 2-4¢/lb under March Comex contracts, down from 1-3¢/lb a
    • Read more
    • NEWS | 13 Jan 23:10
    • Rambler Metals acquires Thundermin Resources
    • Houston, 13 January (Argus) — Canadian copper and gold producer Rambler Metals and Mining has acquired all outstanding shares of Thundermin Resources. The transaction completed yesterday will give the company a stake in ten base metal and gold properties in Canada, including a 100pc int
    • Read more
    • NEWS | 13 Jan 22:51
    • US producers raise steel prices
    • Houston, 13 January (Argus) — Six US steel producers announced price increases this week on flat rolled steel as lead times extend at some facilities. US mills said they will attempt increases of $20-30/net ton; a month after most mills announced increases of around $40/nt. Ohio-based
    • Read more
    • COMMENTARY | 13 Jan 22:35
    • US copper cathode premiums steady
    • Houston, 13 January (Argus) — US copper cathode premiums were unchanged in thin trade this week as sellers were reluctant to lower premiums as exchange prices fell to near seven-year lows. Cathode Grade A premiums were at 5-6¢/lb today delivered midwest consumer for January. Activity i
    • Read more
    • COMMENTARY | 13 Jan 22:09
    • European aluminium alloys fall
    • Houston, 13 January (Argus) — European secondary aluminium alloy prices fell by 1-2¢/lb in the first trading week of 2016 as sellers accepted lower pricing amid weak demand. European selling prices for DIN 226 die casting ingot traded at 75-79¢/lb fob smelter, down from 77-80¢/lb a week
    • Read more
    • NEWS | 13 Jan 21:13
    • Noranda mulls idling all aluminum smelting
    • Houston, 13 January (Argus) — Tennessee-based Noranda Aluminum will idle its New Madrid, Missouri, aluminum smelter by 12 March if the company cannot reach a more favorable electricity agreement and improve its finances. Two of the smelter's three potlines were idled last week after an
    • Read more
    • COMMENTARY | 13 Jan 21:10
    • European aluminum premiums flat
    • Houston, 13 January (Argus) — European aluminium premiums were flat in the latest week in thin trading as sellers were reluctant to accept lower premiums in the face of falling London Metal Exchange (LME) pricing amid oversupply. The P1020 duty paid spot premium remained at $170-180/t f
    • Read more
    • NEWS | 13 Jan 19:14
    • US Steel Canada approved to sell mills
    • Houston, 13 January (Argus) — The Ontario Superior Court of Justice ruled that US Steel Canada may put its Hamilton Works and Lake Erie Works steel plants up for sale as part of its bankruptcy process. The company's motion to authorize the process of soliciting interest from potential b
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    • COMMENTARY | 13 Jan 18:28
    • Aluminum extrusion and mill scrap under pressure
    • Houston, 13 January (Argus) — Mill grade aluminum scrap spreads widened yesterday as outright prices inched downward despite nearly unchanged primary aluminum prices. London Metal Exchange cash prices for aluminum dropped by less than 1¢/lb to $1,457/t yesterday compared to a week earli
    • Read more
    • COMMENTARY | 13 Jan 18:01
    • European copper premiums rise amid falling LME
    • Houston, 13 January (Argus) — Premiums for copper cathode in Europe rose in the latest week as sellers battled to protect their margins amid prices on the London Metal Exchange that fell this week to a six-year low. Premiums for copper cathode in Rotterdam warehouses rose to $20-45/t fr
    • Read more
    • NEWS | 13 Jan 16:47
    • European copper scrap in mixed market
    • Houston, 13 January (Argus) — No. 2 copper scrap or Birch Cliff price spreads in Europe narrowed this week to 91-92pc of the London Metal Exchange (LME) settlement price, while other European scrap prices remained unchanged as LME prices fell. Three-month copper futures fell to a six-y
    • Read more
    • NEWS | 13 Jan 16:28
    • Capstone Mining copper, zinc production decline
    • New York, 13 January (Argus) — Canadian miner Capstone Mining produced 10pc less copper in 2015 from a year earlier. The company produced 92,900t of copper in concentrate and copper cathodes in 2015, while increasing fourth quarter production by 13pc to 26,000t from a year earlier. An
    • Read more
    • NEWS | 13 Jan 11:44
    • Sherritt expects $1.13bn impairment on Ambatovy
    • London, 13 January (Argus) — Canadian nickel-cobalt producer Sherritt International Corporation expects to post an impairment of its Ambatovy Joint Venture assets in Madagascar for the 2015 financial year due to lower forecast nickel prices. Using a long-term nickel price of $8.50/lb, a
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    • NEWS | 13 Jan 11:20
    • AusQuest flags drilling at Peru copper targets
    • AusQuest flags drilling at Peru copper targets Johannesburg, 13 January (Argus) — Perth-based exploration firm AusQuest expects five of its large-scale copper exploration targets in Peru to be drilled by joint venture partners during the course of 2016. The company announced to the Austr
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    • NEWS | 13 Jan 00:35
    • ArcelorMittal looks to reshape operations
    • Houston, 13 January (Argus) — Global steelmaker ArcelorMittal is looking to "optimize" its operations at its Indiana Harbour works and other US facilities, the company said today as it is in talks to sell four US facilities to Black Diamond Capital Management. "ArcelorMittal is consider
    • Read more
    • NEWS | 12 Jan 20:52
    • US maintains magnesia duties
    • New York, 12 January (Argus) — The US International Trade Commission (ITC) has rejected the removal of antidumping and countervailing duties on magnesia carbon bricks from China and Mexico during a scheduled five-year review. The ITC determined that removing existing orders would lead t
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    • NEWS | 12 Jan 19:30
    • Thyssenkrupp to build $65mn steering plant
    • Houston, 12 January (Argus) — German-based industrial and technology group Thyssenkrupp will build a new $65mn steering systems plant in Puebla, Mexico to grow its automotive components business in North America. The 12,500ft2 plant is scheduled for completion in early 2017. Thyssenkru
    • Read more
    • NEWS | 12 Jan 19:25
    • ArcelorMittal looks to sell four US facilities
    • Houston, 12 January (Argus) — Luxembourg-based ArcelorMittal is in talks to sell four of its US facilities to Black Diamond Capital Management. The facilities in Steelton, Pennsylvania; Harriman, Tennessee; Vinton, Texas; and La Place, Louisiana, have been for sale since June 2015, the
    • Read more
    • NEWS | 12 Jan 17:50
    • Mill Steel to increase US production
    • Houston, 12 January (Argus) — Michigan-based flat-rolled carbon steel distributor Mill Steel intends to increase existing production and distribution capability after acquiring certain assets from Indiana-based carbon flat-rolled steel service provider S S Steel Services (S S). The acqu
    • Read more
    • NEWS | 12 Jan 13:19
    • Rusal reshuffles aluminium division management
    • London, 12 January (Argus) — Russian aluminium producer Rusal has made new appointments in a management reshuffle of its aluminium division. Evgeny Popov, formerly director of the aluminium division's production department has been appointed managing director of Rusal's Sayanogorsk Alum
    • Read more
    • NEWS | 12 Jan 13:09
    • Amur's MKFL deposit shows higher nickel content
    • London, 12 January (Argus) — Russia-focused nickel and copper mining company Amur Minerals has received final analytical results from its Maly Kurumkon Flangovy (MKFL) deposit which shows that the previous estimates understated the metal content by about 5pc. The drilling of 468 sample
    • Read more
    • NEWS | 12 Jan 12:50
    • Redstone flags strong copper intercepts at Tollu
    • Johannesburg, 12 January (Argus) — Perth-based mining company Redstone Resources has announced significant copper intercepts at its Tollu project in Western Australia, taking it a step closer to announcing a maiden mineral resource at the project. The company said grades of up to 2.6pc
    • Read more
    • NEWS | 12 Jan 12:35
    • LME Moly: Reflecting small rise in physicals
    • London, 12 January (Argus) — London Metal Exchange (LME) cash molybdenum has moved up this year, settling at a cash price of $11,500/12,000/t on 11 January, up from $11,000/11,500/t late last month. This reflects a moderate increase in physical prices since year-end holidays in 2015, wi
    • Read more
    • NEWS | 12 Jan 00:12
    • Alcoa ships less aluminum, forecasts strong demand
    • Houston, 12 January (Argus) — Primary aluminum producer Alcoa expects aluminum demand to increase by 6pc in 2016 from a year earlier. Global demand will rise 60.5mn t/yr from 57mn t/yr and is on track to more than double between 2010 and 2020, the company said today. Alcoa expects a 1.
    • Read more
    • NEWS | 11 Jan 23:11
    • Korean, Turkish flat steels clear US subsidy case
    • Houston, 11 January (Argus) — The US Commerce Department today issued a preliminary determination that certain hot-rolled steel flat products from Brazil may face countervailing duties, but ruled out levying any such duties on imports of those products from South Korea and Turkey. All
    • Read more
    • NEWS | 11 Jan 22:52
    • Potential buyers eye US Steel Canada
    • Houston, 11 January (Argus) — Interested parties are discussing the acquisition of US Steel Canada's (USSC) assets and operating business with the United Steelworkers (USW) union, even though the union opposes US Steel playing a role in the sales process of its subsidiary. USW objects
    • Read more
    • NEWS | 11 Jan 22:33
    • River Valley Recycling to idle facility
    • Houston, 11 January (Argus) — Illinois-based scrap recycler River Valley Recycling has temporarily closed its Iroquois location. An "extreme drop" in commodity prices and decreased inbound volume during the winter months was the reason for the closure. The location is expected to be clo
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    • NEWS | 11 Jan 21:28
    • US raw steel production bucks downward trend
    • Houston, 11 January (Argus) — US raw steel production rose by 10.7pc to 1.6mn net tons (1.44mn metric tonnes) in the week ending 9 January compared to the week prior while capacity utilization rose to 66.7pc. Capacity utilization increased from 60.2pc in the prior week, but was off from
    • Read more
    • NEWS | 11 Jan 20:54
    • Workers strike at BHP copper mine in Chile
    • Houston, 11 January (Argus) — Around 700 workers at BHP Billiton's Cerro Colorado copper mine in Chile have gone on strike, Chile's mining federation union said.Introduction paragraph The strike that began early today follows the breakdown of negotiations between the Anglo-Australian co
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    • NEWS | 11 Jan 20:33
    • MGX Minerals receives mining lease approval
    • New York, 11 January (Argus) — Canadian mine developer MGX Minerals has received mining lease approval for its Driftwood Creek magnesium project by the Chief Gold commissioner of the Province of British Columbia. The mine has magnesite deposits over its two mineralized zones, which aver
    • Read more
    • NEWS | 11 Jan 18:54
    • Peru molybdenum production up in November
    • Sao Paulo, 11 January (Argus) — Molybdenum production in Peru increased 24.9pc to 1,981t in November from 1,586t in the same month a year earlier, said the country's mining ministry. The ministry publishes figures to the nearest tonne. Output rose 12.7pc against the 1,758t in October a
    • Read more
    • NEWS | 11 Jan 18:53
    • Sherwin Alumina files for bankruptcy
    • Houston, 11 January (Argus) — Texas-based alumina refiner Sherwin Alumina has filed for Chapter 11 bankruptcy with a Corpus Christi court. The company operates a single refinery in Gregory, Texas, with a 1.65mn t/yr capacity and cited a "challenging commodity pricing environment" as the
    • Read more
    • NEWS | 11 Jan 18:22
    • Almonty expects tungsten APT price uptick in 2016
    • Sao Paulo, 11 January (Argus) — Canadian natural resources group Almonty Industries president and chief executive Lewis Black has said he sees tungsten APT prices reaching $220-250/mtu by the end of 2016. The executive said he expects buyers to increasingly find it difficult to source t
    • Read more
    • NEWS | 11 Jan 17:28
    • Alcoa signs $1.5bn in GE aviation contracts
    • Houston, 11 January (Argus) — Primary aluminum producer Alcoa has signed a long-term contract worth more than $1.5bn to provide nickel-based superalloy, titanium and aluminum engine components for General Electric's (GE) aviation group. The parts will be manufactured at facilities in La
    • Read more
    • NEWS | 11 Jan 17:03
    • US scrap exports weaken in November: Correction
    • Corrects information in final paragraph by removing inaccurate import totals from Switzerland and the Bahamas. Houston, 11 January (Argus) — Ferrous scrap exports from the US dropped by 36.6pc in November from a year earlier, largely reflecting weaker demand in South Korea, Taiwan an
    • Read more
    • NEWS | 11 Jan 16:53
    • Huta Laziska returns to normal FeSi output
    • London, 11 January (Argus) — Polish ferro-silicon producer Huta Laziska will produce some 18,000t of standard grade ferro-silicon (75pc Si) this quarter amid shaky sentiment in the European ferro-alloys sectors. Huta Laziska produces 18,000t of ferro-silicon a quarter from a nameplate q
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    • NEWS | 11 Jan 16:46
    • Global copper capacity forecast to keep growing
    • Houston, 11 January (Argus) — Global copper mining production capacity is expected to grow at an annual rate of about 5pc by 2019 while smelter capacity growth will grow by an average annual 3pc rate. Based on existing facilities and announced projects in development, mine production ca
    • Read more
    • NEWS | 11 Jan 16:41
    • New Swiss trader targets spot ferro-alloys
    • London, 11 January (Argus) — A new manganese ore and ferro-alloys trading firm is setting up operations in Switzerland with the target of selling manganese ore and ferro-alloys on the spot market to various international destinations, said chief executive officer Yuri Rioneli. Helvetia
    • Read more
    • NEWS | 11 Jan 16:23
    • US FeSi imports fall in October
    • London, 11 January (Argus) — US imports of ferro-silicon were 6,170t in October 2015, a fall of 73pc from 22,700t in September 2015, and 70pc down from October 2014, said US Geological Survey (USGS) data. Canada contributed the biggest amount at 3,334t, with China the second-largest con
    • Read more
    • NEWS | 11 Jan 12:40
    • Weatherly releases option on Namibia facility
    • Johannesburg, 11 January (Argus) — AIM-listed mining firm Weatherly International has announced the release of its option to purchase the Tsumeb base metals tailings facility in Namibia from Dundee Precious Metals Tsumeb for $4mn. The copper producer said the amount will be settled by a
    • Read more
    • NEWS | 11 Jan 11:48
    • Bauba halts output at Moeijelijk chrome project
    • Johannesburg, 11 January (Argus) — South African mining firm Bauba Platinum said today that it has halted production at its Moeijelijk chrome project which has been placed on care and maintenance. The company's chrome project had become "financial unviable at present" due to a fall in c
    • Read more
    • ANALYSIS | 09 Jan 00:52
    • US scrap prices strengthen as week progresses
    • Houston, 9 January (Argus) — US ferrous scrap prices increased by $15-25/gross ton for January deliveries as separate pockets of intense demand lead to late sales concluding at better prices than early sales in specific regions. Demand for shredded and prime scrap was unexpectedly stron
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    • COMMENTARY | 09 Jan 00:41
    • Secondary aluminum alloy offers fade
    • Houston, 9 January (Argus) — Higher priced offers for secondary aluminum alloys exited the US market this week as some sellers revised a few prices downwards with an aim to ignite some buying. Spot market activity remained thin this week despite a 1-2¢/lb softening in some prices. Pric
    • Read more
    • NEWS | 08 Jan 23:35
    • US Steel mulls curtailment at Ohio plant
    • Houston, 8 January (Argus) — Pittsburgh-based US Steel may curtail production at its seamless pipe mill in Lorain, Ohio. A production curtailment is being considered, and is even likely, but it will "depend on the [number]of orders they receive," a United Steelworkers (USW) union repres
    • Read more
    • COMMENTARY | 08 Jan 23:28
    • This Week in Metals: 4-8 January
    • Houston, 8 January (Argus) — Prices of most metals and commodities tumbled this week as the first days of 2016 were marked by quickening depreciation of the Chinese yuan, slumping global equities and signs of slowing growth worldwide. China's main stock index fell by 7pc on two separate
    • Read more
    • NEWS | 08 Jan 23:08
    • Galitzine replaces Mitch as TMK IPSCO head
    • Houston, 8 January (Argus) — TMK IPSCO chairman Piotr Galitzine will replace David Mitch as chief executive, the company said today. Mitch has stepped down as president and chief executive but will remain with the company as a consultant. TMK IPSCO is the US subsidiary of Russian-based
    • Read more
    • NEWS | 08 Jan 22:33
    • US steel mill shipments decline in November
    • Houston, 8 January (Argus) — US steel mill shipments dropped by 12.4pc to 6.5mn net tons (5.9mn metric tonnes) in November from 7.4mn nt the prior month, the American Iron and Steel Institute said today. November shipments declined by 15.5pc from the 7.6mn nt shipped in the same month a
    • Read more
    • COMMENTARY | 08 Jan 20:45
    • US aluminum scrap export prices mixed
    • Houston, 8 January (Argus) — US aluminum scrap export prices were mixed this week as Chinese buyers continued to fill some inventory needs at lower prices heading into Asia's lunar new year celebrations early next month. Prices stayed within the same range as a week earlier or increased
    • Read more
    • NEWS | 08 Jan 20:22
    • Republic Steel will idle rolling mill
    • Houston, 8 January (Argus) — Grupo Simec subsidiary Republic Steel plans to temporarily idle its rolling mill operations in Lorain, Ohio. A negative 2016 economic forecast, continued dumping of steel imports and a decline in demand from the energy market were factors in the decision. T
    • Read more
    • NEWS | 08 Jan 20:13
    • Noranda idles two potlines at Missouri smelter
    • Washington, 8 January (Argus) — Noranda Aluminum idled two out of three potlines at its 263,000t/yr New Madrid smelter after an electrical circuit failure. Tennessee-based Noranda said it will release more details later today, but confirmed that the electric event caused the company to
    • Read more
    • NEWS | 08 Jan 20:11
    • LME warehouses to hike aluminum rent
    • Houston, 8 January (Argus) — London Metal Exchange-registered warehouses in the US are set to increase fees for storing aluminum when current rates expire in April, some by as much as 18¢/t. The largest nonferrous LME warehouse in the US, owned by Metro International Trade Services, wi
    • Read more
    • NEWS | 08 Jan 18:37
    • LME trading volumes fall in 2015
    • Houston, 8 January (Argus) — Trading volumes on the London Metal Exchange fell by 4.3pc in 2015, as slowing economies in China, Brazil, Russia and other large-metal consuming parts of the world demanded less metal. Total volumes of futures, options, and Traded Average Price Options (TAP
    • Read more
    • NEWS | 08 Jan 18:14
    • US judge dismisses zinc antitrust suit
    • Houston, 8 January (Argus) — A US judge has dismissed an antitrust suit alleging that affiliates of Glencore, JPMorgan Chase and Goldman Sachs engaged in a conspiracy to manipulate the price of zinc in warehouses licensed by the London Metal Exchange (LME) globally. US District Judge Ka
    • Read more
    • COMMENTARY | 08 Jan 16:59
    • LME copper falls to fresh 7-year low
    • London, 8 January (Argus) — The London Metal Exchange (LME) copper and aluminium prices fell to fresh lows as Chinese stock markets stopped trading twice this week and the yuan depreciated. Three-month copper futures fell to $4,430/t, a seven-year low, but then recovered slightly to set
    • Read more
    • COMMENTARY | 08 Jan 16:54
    • LME nickel, zinc, lead fall with Chinese equities
    • London, 8 January (Argus) — The London Metal Exchange (LME) nickel, zinc, lead and tin contracts traded lower this week in response to turmoil in the Chinese equity markets. Prices are likely to continue to trend lower early next week as traders become increasingly concerned that the tu
    • Read more
    • NEWS | 08 Jan 15:33
    • Fortune produces high purity cobalt sulphate
    • Sao Paulo, 8 January (Argus) — Canadian mining firm Fortune Minerals said a high purity cobalt sulphate heptahydrate sample has been produced from raw material extracted from its Nico gold-cobalt-bismuth-copper deposit in the Northwest Territories. The sample exceeds chemical specificat
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    • NEWS | 08 Jan 15:19
    • World manganese ore supply falls in October
    • London, 8 January (Argus) — World manganese ore production dropped year-on-year and month-on-month in October last year because of lower demand from the ferro-alloys sector, said data from the International Manganese Institute (IMnI). World ore production was 3.706mn t in October, off 2
    • Read more
    • NEWS | 08 Jan 15:14
    • World Mn alloys output down on demand in October
    • London, 8 January (Argus) — World silico-manganese production was down in October 2015 because of lower demand from steelmakers in most areas, said data from the International Manganese Institute. World production was off 23pc in the first 10 months of 2015, year-on-year. World producti
    • Read more
    • NEWS | 08 Jan 14:04
    • Channel widening studied at Port of Long Beach
    • Washington, 8 January (Argus) — The US Army Corps of Engineers is considering changes to the Port of Long Beach, California, that would allow bigger container ships to access the facility. The corps said it will examine the environmental impacts of improving navigational channels at the
    • Read more
    • NEWS | 07 Jan 23:03
    • Alcoa to cut more aluminum capacity
    • Houston, 7 January (Argus) — Primary aluminum producer Alcoa will permanently idle the 269,000t/yr Warrick Operations smelter in Evansville, Indiana, by the end of the first quarter. In addition, all alumina refining at its 810,000t/yr Point Comfort, Texas, facility will be curtailed by
    • Read more
    • NEWS | 07 Jan 22:46
    • Taseko plans to lower copper output
    • Houston, 7 January (Argus) — Vancouver-based producer Taseko Mines expects to lower its copper output this year and plans to mine lower average grades of copper as it aims to cut costs until copper pricing improves. Taseko, which has a 75pc stake in the Gibraltar mine in British Columbi
    • Read more
    • NEWS | 07 Jan 22:40
    • Nyrstar begins sale process for mining assets
    • New York, 7 January (Argus) — Belgian lead and zinc producer, Nyrstar has started the formal sale process for its mining assets, which will be led by BMO Capital Markets and Lazard. The company expects the process to require several months and is considering offers for all its mining as
    • Read more
    • NEWS | 07 Jan 22:38
    • RPM specialty coatings, pigments revenues increase
    • New York, 7 January (Argus) — Ohio-based coatings and building materials producer, RPM International increased revenues by 7.9pc over the three months ended 30 November from a year earlier. The company grew revenues to $1.16bn from $1.07bn from a year earlier. Profits rose by 20pc to $8
    • Read more
    • NEWS | 07 Jan 22:29
    • PPG expands Lake Charles silica capacity
    • New York, 7 January (Argus) — Pittsburgh-based coatings producer PPG Industries is increasing precipitated silica production by 10,000t/y at its Lake Charles Louisiana manufacturing plant in a bid to increase orders in the Americas. PPG first upgraded capacity at its Lake Charles facil
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    • NEWS | 07 Jan 21:26
    • US metal, machinery orders fall in November
    • Houston, 7 January (Argus) — US primary metal orders fell by 29pc in November from a year earlier, led by a 38pc decline in orders for aluminum and nonferrous metals. Orders for primary metals fell to a $19.5bn in November from $27.6bn a year prior, according to Commerce Department data
    • Read more
    • NEWS | 07 Jan 21:19
    • Nucor passes on $130mn incentive
    • Houston, 7 January (Argus) — US-based steel producer Nucor has missed a deadline on a potential $130mn incentive package offered by Louisiana for its direct reduced iron (DRI) plant. The company did not issue a final investment decision on whether it will proceed with future phases of
    • Read more
    • NEWS | 07 Jan 19:58
    • US titanium production, consumption increase
    • New York, 7 January (Argus) — US production of titanium ingot for the first three quarters of 2015 increased by 15pc to 46,100t from a year earlier. Data by the US Geological Survey (USGS) indicate that titanium ingot production during the third quarter increased by 16pc to 15,900t from
    • Read more
    • NEWS | 07 Jan 19:14
    • US military sells 1,154st of FeCr in December
    • New York, 7 January (Argus) — US defence department's procurement arm, the Defense Logistics Agency (DLA), sold 1,154 short tons (st) of ferro-chrome in December for about $1.38mn. Agency sold 1,000st of high carbon and 154st of low carbon ferro-chrome last month. Material was sold to
    • Read more
    • NEWS | 07 Jan 18:51
    • S&P cuts Noble's credit rating
    • S P cuts Noble's credit rating London, 7 January (Argus) — Ratings agency Standard Poor's (S P) has cut commodity trading firm Noble's credit rating, just over a week after a similar move by Moody's Investors Service. Noble's liquidity is "below what we expect for a strong liquidity po
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    • NEWS | 07 Jan 18:43
    • Schnitzer’s shipments fall alongside prices
    • Schnitzer's shipments fall alongside prices Houston, 7 January (Argus) — US-based Schnitzer Steel Industries shipped 22pc less nonferrous scrap in the latest quarter while volumes of ferrous scrap shipments fell by 18pc from the same period a year earlier. Schnitzer's nonferrous scrap vo
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    • COMMENTARY | 07 Jan 17:53
    • Aluminum can spreads grow amid low exchange prices
    • Houston, 7 January (Argus) — Aluminum used beverage can price spreads widened by two cents this week as average outright prices for the scrap fell more rapidly than the midwest transaction price. Average spreads grew to 15¢/lb under midwest aluminum transaction prices from 13¢/lb a week
    • Read more
    • COMMENTARY | 07 Jan 17:24
    • US copper cathode premiums flat
    • Houston, 7 January (Argus) — US copper cathode premiums were flat in the first trading days of 2016, amid soft demand and a surplus of material for spot deals. Cathode Grade A premiums remained at 5-6¢/lb delivered midwest consumer yesterday, with little spot activity. The market has he
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    • NEWS | 07 Jan 16:52
    • Tata Canada to draw down sinter fine output
    • Houston, 7 January (Argus) — Tata Steel Minerals Canada will scale down its direct shipping ore (DSO) project due to challenging steel and iron market conditions. The company said yesterday that the number of employees to be affected by the drawdown will be based on "operational needs,
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    • NEWS | 07 Jan 16:13
    • Ukraine cuts import tax on raw materials
    • London, 7 January (Argus) — Ukraine has cut a 5pc-10pc import tax on goods and raw materials from the beginning of January in a move designed to support Ukraine's foreign trade which will also help Ukrainian ferro-alloy producers. Before the cancellation the tax for imports of metallurg
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    • NEWS | 07 Jan 15:49
    • Magnetation to curtail production in January
    • Houston, 7 January (Argus) — US iron ore producer Magnetation plans to temporarily curtail iron ore concentrate production at a facility in Minnesota beginning 18 January. The company filed a Worker Adjustment and Retraining Notification (WARN) in November to alert workers at its Plant
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    • NEWS | 07 Jan 15:41
    • US copper scrap price spreads flat
    • Houston, 7 January (Argus) — US copper scrap price spreads were unchanged in the first trading days of 2016 amid tepid activity as participants trickled back to work following the holidays. US copper scrap price spreads were unchanged in the first trading days of 2016 amid tepid activit
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    • NEWS | 07 Jan 15:07
    • Vallex starts copper, moly operations at Kashen
    • London, 7 January (Argus) — Armenian mining company Vallex Group completed the construction of its copper and molybdenum ore processing plant near the Kashen deposit and started processing its first ore. Vallex already operates Teghut, the second largest copper-molybdenum mine and conce
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    • NEWS | 07 Jan 13:57
    • CAM increases copper production in Kazakhstan
    • London, 7 January (Argus) — AIM-listed mining company Central Asia Metals (CAM) which operates mines in Kazakhstan and Mongolia increased its copper output by 8.4pc year on year in 2015 to 12,071t. The company plans a further production increase in 2016 to between 13,000t-14,000t. The m
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    • NEWS | 07 Jan 13:34
    • Botswana Metals seeks extension of nickel licences
    • Johannesburg, 7 January (Argus) — Australia-listed Botswana Metals has applied to extend three exploration licences for its Maibele North nickel project in Botswana. Company is seeking to increase resource tonnes at the project, which has a reserve of 2.38mn t of nickel containing ore.
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    • NEWS | 07 Jan 13:10
    • Nippon Steel agrees Safran titanium alloy deal
    • Sao Paulo, 7 January (Argus) — Japan's Nippon Steel Sumitomo Metal Corporation has reached agreement with Safran Group, a France based manufacturer of aircraft, rocket engines, propulsion systems and aircraft equipment for the long-term supply of titanium alloy billet. Safran subsidia
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    • NEWS | 07 Jan 12:48
    • Almonty buys back Portugal tungsten mine
    • Sao Paulo, 7 January (Argus) — Canada-based tungsten miner Almonty Industries has taken ownership of the Panasqueira mine in Portugal for a second time after acquiring the site from Sojitz Tungsten Resources. Almonty has also signed an agreement with Korea Engineering Consultants Corpor
    • Read more
    • NEWS | 06 Jan 23:44
    • US Steel mulls Canadian assets liquidation
    • Houston, 6 January (Argus) — US Steel is considering the liquidation of its indirect subsidiary US Steel Canada, which filed for Canadian bankruptcy protection in September 2014. The company said it does not oppose the solicitation of liquidation bids as long as it is given the opportun
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    • COMMENTARY | 06 Jan 23:19
    • US aluminum premiums flat amid falling prices
    • Houston, 6 January (Argus) — US midwest premiums for primary aluminum remained flat this week as London Metal Exchange (LME) prices fell to nearly pre-December levels. The premium stayed in a range of 8.75¢-9¢/lb for the third consecutive week as market participants were bearish about a
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    • NEWS | 06 Jan 22:42
    • Canada dismisses duties on Russian, Indian steel
    • Houston, 6 January (Argus) — Canada ruled that hot-rolled carbon steel plate and high-strength low-alloy steel plate from Russia and India entering the country have not threatened or caused injury to the country's domestic steel industry. The Canadian International Trade Tribunal (CITT)
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    • NEWS | 06 Jan 22:01
    • US steel imports decline in December
    • Houston, 6 January (Argus) — Applications for US steel imports fell by 5pc in November from the prior month, led by decreases from South Korea and Japan. Applications totaled 2.55mn net tons (2.3mn metric tonnes) in December, compared with 2.68mn permit tons recorded in November and an
    • Read more
    • NEWS | 06 Jan 21:50
    • Imperial suspends Huckleberry mine operation
    • Houston, 6 January (Argus) — Canadian copper, silver, and gold producer Imperial Metals suspended operations at the Huckleberry mine in British Columbia because of declining copper prices. The shutdown will affect 100 of the mine's 260 employees, the rest of whom will continue to mill s
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    • COMMENTARY | 06 Jan 21:38
    • Ferrous scrap prices rise in US as Detroit settles
    • Houston, 6 January (Argus) — US ferrous scrap prices for January deliveries settled in Detroit today, a day after trading kicked off across the country at the higher levels suppliers had hoped to secure. Detroit-area mills stepped into the market mid-day to trade at price increases of $
    • Read more
    • NEWS | 06 Jan 21:01
    • US silicon production, imports drop
    • New York, 6 January (Argus) — US production of silicon alloys and metal for the first ten months of 2015 increased by 1,000t to 429,000t from a year earlier. Data by the US Geological Survey (USGS) show that silicon production during October fell by 10pc to 42,100t from a year earlier.
    • Read more
    • COMMENTARY | 06 Jan 20:59
    • European aluminum premiums unchanged
    • Houston, 6 January (Argus) — Aluminum spot premiums in northwestern and southern Europe were unchanged this week amid minimal trading as many market participants were on holiday. The P1020 duty-paid spot premium continued at $170-180/t delivered Rotterdam warehouse, unchanged from a wee
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    • NEWS | 06 Jan 20:52
    • Metal Technologies buys stake in Quimmco foundry
    • Houston, 6 January (Argus) — Indiana-based metal caster Metal Technologies (MTI) and Mexican industrial consortium Quimmco have agreed to jointly own and operate iron foundry Blackhawk de Mexico. MTI has agreed to acquire 49pc of the ownership of Blackhawk with the transaction expected
    • Read more
    • NEWS | 06 Jan 20:16
    • US ferrous scrap exports weaken in November
    • Houston, 6 January (Argus) — Ferrous scrap exports from the US dropped by 36.6pc in November from a year earlier, largely reflecting weaker demand in South Korea, Taiwan and Canada. Commerce Department data showed ferrous scrap exports decreased to 790,111t in November from 1.25mn t in
    • Read more
    • NEWS | 06 Jan 18:26
    • Russel Metals acquires Fab South assets
    • Houston, 6 January (Argus) — Canadian metal distributor Russel Metals has acquired the assets of Tennessee-based processing and fabrication firm Fab South. The company's JMS Russel Metals group operates in 11 states including Tennessee and the acquisition will increase processing capabi
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    • NEWS | 06 Jan 18:06
    • CMC expects ferrous scrap prices to stabilize
    • Houston, 6 January (Argus) — Commercial Metals expects ferrous scrap prices to stabilize in the coming weeks as decreased flows into scrapyards could push up prices. Although capacity utilization rates in mills float between 60pc-65pc, ferrous scrap prices are going to stabilize because
    • Read more
    • NEWS | 06 Jan 16:37
    • US Zinc taps Myers for new position
    • Houston, 6 January (Argus) — Houston-based zinc oxide manufacturer US Zinc has appointed Paul Myers to the newly created distribution manager role. Myers joined the company in February 2013 as the midwest sales lead and was responsible for zinc oxide sales to the rubber, plastics, coati
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    • NEWS | 06 Jan 15:44
    • Nucor plans to restart Louisiana DRI facility
    • Houston, 6 January (Argus) — US-based steel producer Nucor will resume operations at its direct reduced iron (DRI) plant in Louisiana by the end of January. The decision to temporarily suspend production after a scheduled maintenance outage was made based on market conditions, the compa
    • Read more
    • NEWS | 06 Jan 13:44
    • Intel products to be 'conflict mineral free'
    • London, 6 January (Argus) — US-based computing firm Intel's product base will be free of "conflict minerals" by this year, company chief executive Brian Krzanich has said. Conflict minerals, including minor metals such as tungsten, tantalum and niobium, and base metals, are mined in are
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    • NEWS | 06 Jan 00:13
    • Kaiser Aluminum taps Harvey for president
    • Houston, 6 January (Argus) — California-based rolled aluminum manufacturer Kaiser Aluminum today promoted Keith Harvey, executive vice president of fabricated products, to president and chief operating officer. Harvey joined the company in 1981 as an industrial engineer, was named vice
    • Read more
    • NEWS | 05 Jan 23:32
    • Specialty steel group elects officers
    • New York, 5 January (Argus) — Washington, DC-based metals trade association Specialty Steel Industry of North America (SSINA) elected Dennis Oates chairman, effective 1 January. SSINA officer positions have a two-yr term length. Dennis Oates replaces Carl Moulton, formerly with Alleghen
    • Read more
    • COMMENTARY | 05 Jan 22:57
    • European aluminum alloy prices fall
    • Houston, 5 January (Argus) — European secondary aluminum alloy prices were lower by 1-4¢/lb today, as prices reflect the drop in LME aluminum and continuing strength of the US dollar. Market participants are just back from a two-week holiday and will need several days to regain their b
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    • NEWS | 05 Jan 22:47
    • Rather Recycling opens Alabama scrap yard
    • Houston, 5 January (Argus) — Rather Recycling opened its first scrap yard yesterday on a 4-acre lot in Birmingham, Alabama. The facility collects ferrous and nonferrous scrap and intends to build a base of industrial clients. The facility also collects automotive and electronic scrap.
    • Read more
    • NEWS | 05 Jan 22:43
    • Ferro Corporation acquires Ferer Dis Ticaret
    • New York, 5 January (Argus) — US-based coatings and ceramics producer Ferro has acquired Turkish pigment and glass coatings distributor Ferer Dis Ticaret (Ferer) for $9mn to help it grow its presence in Turkey. The transaction may be subject to working capital and other adjustments and
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    • NEWS | 05 Jan 22:43
    • Ferro acquires Turkey's Ferer Dis Ticaret
    • New York, 5 January (Argus) — US-based coatings and ceramics producer Ferro has acquired Turkish pigment and glass coatings distributor Ferer Dis Ticaret (Ferer) for $9mn to help it grow its presence in Turkey. The transaction may be subject to working capital and other adjustments and
    • Read more
    • NEWS | 05 Jan 21:40
    • Kagiso divests stake in Lonmin
    • New York, 5 January (Argus) — Cape Town-based investment firm Kagiso Asset Management has divested its 12pc stake in South African primary platinum producer Lonmin. The investment firm as of 17 December finished selling all of it 33mn shares of a total 282mn outstanding Lonmin shares, t
    • Read more
    • NEWS | 05 Jan 21:11
    • US vehicle sales reach all-time high
    • Houston, 5 January (Argus) — US retail sales of light vehicles were higher for the fifth consecutive month in December as total-year volumes in 2015 hit an all-time high. Total US light vehicle sales for 2015 rose by 5.7pc to 17.47mn, up from 16.52mn units in the 2014 calendar year. The
    • Read more
    • COMMENTARY | 05 Jan 18:58
    • European copper scrap spreads unchanged
    • Houston, 5 January (Argus) — European copper scrap price spreads remained unchanged today in anticipation of lackluster trading in the first month of 2016. European copper scrap price spreads remained unchanged today in anticipation of lackluster trading in the first month of 2016. Mar
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    • NEWS | 05 Jan 18:24
    • CMC ships less, predicts steel weakness
    • Houston, 5 January (Argus) — Texas-based recycler Commercial Metals (CMC) does not expect market conditions to improve moving into the next quarter because of seasonally low demand from construction and pressure from foreign steel imports. CMC shipped 21pc less ferrous and 12pc less non
    • Read more
    • NEWS | 05 Jan 18:05
    • Codelco cuts tape on Ministro Hales mine
    • Sao Paulo, 5 January (Argus) — Chile's state-controlled copper-molybdenum producer Codelco officially inaugurated today its Ministro Hales mine in northern Chile, highlighting the project's recent ramp-up to nominal capacity. More than $3.2bn has been invested in Codelco's newest mine w
    • Read more
    • NEWS | 05 Jan 17:18
    • Reliance completes acquisition of Tubular Steel
    • Houston, 5 January (Argus) — Los Angeles-based Reliance Steel Aluminum has acquired Tubular Steel (TSI) as of 1 January, as part of its push to expand its market breadth and diversification. TSI is a steel pipe, tubing, and bar product distributor and processor based in St. Louis, Mis
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    • NEWS | 05 Jan 15:47
    • US Antimony boosts sales
    • New York, 5 January (Argus) — Montana-based antimony and zeolite miner US Antimony sold 44pc more antimony in 2015 than a year earlier. The company's antimony sales totaled 1,128t last year, up from 783t in 2014, as fourth quarter sales grew by 45pc to 280t from the previous year. US A
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    • NEWS | 05 Jan 14:06
    • Aeris sells two copper projects to Sandfire
    • London, 5 January (Argus) — Junior Australian copper producer Aeris Resources has completed the sale of its Temora and Currumburrama exploration projects in New South Wales to Perth-based mining firm Sandfire Resources. Aeris is Australia's fifth largest copper producer by volume. Its c
    • Read more
    • NEWS | 04 Jan 23:09
    • US to review China, Mexico copper tube duties
    • Houston, 4 January (Argus) — The US International Trade Commission plans to conduct full five-year reviews of antidumping duties levied on seamless refined copper pipe and tube from China and Mexico. During the reviews, the panel will seek to determine whether removing the duties is li
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    • NEWS | 04 Jan 22:58
    • US raw steel output falls for fourth week
    • Houston, 4 January (Argus) — US raw steel production dropped by 1.1pc to 1.44mn net tons (1.3mn metric tonnes) in the week ending 2 January, and capacity utilization fell to 60.2pc. Capacity utilization last week fell from 60.9pc in the prior week and was off from 75.1pc the week ending
    • Read more
    • NEWS | 04 Jan 22:22
    • US expedites review of China steel duties
    • Houston, 4 January (Argus) — The US International Trade Commission today voted to expedite full sunset reviews for duties set on certain seamless carbon and alloy steel standard, line, and pressure pipe from China. The reviews will determine whether the Commerce Department will revoke
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    • NEWS | 04 Jan 20:06
    • ArcelorMittal, steelworkers resume contract talks
    • Houston, 4 January (Argus) — Global steelmaker ArcelorMittal and the United Steelworkers (USW) union today resumed negotiations on a long-term contract that expired in September following a break for the holidays. The two sides met in Pittsburgh to continue negotiations after a schedul
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    • NEWS | 04 Jan 18:29
    • China weakness weighs on metals prices
    • Houston, 4 January (Argus) — China's main CSI 300 stock index fell by 7pc today, triggering a global selloff in equities on the first day of trading for 2016 that heightened concerns of slowing economic growth and weighed on prices of metals and other commodities including crude. The de
    • Read more
    • ANALYSIS | 04 Jan 17:31
    • China PMI falls amid global slowdown
    • London, 4 January (Argus) — China's manufacturing sector recorded a renewed contraction of activity in December, as the continued downturn in emerging markets saw global manufacturing growth decline to a three-month low, weighing on metals demand. In China, the Caixin purchasing manager
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    • NEWS | 04 Jan 17:22
    • Ball Aerospace makes two executive appointments
    • Houston, 4 January (Argus) — Ball Aerospace, subsidiary of Colorado-based packaging manufacturer Ball, has promoted technology director Mike Gazarik to vice president for engineering. Gazarik joined the company in March, serving before as associate administrator for the space technology
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    • NEWS | 04 Jan 16:01
    • Chile molybdenum production up in November
    • Sao Paulo, 4 January (Argus) — Chile's molybdenum concentrate output was 5,431t in November - 27.6pc higher than the 4,255t produced in the same month a year earlier, data from the national statistics institute (INE) shows. Production was boosted by the start of operations at KGHM's Sie
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    • NEWS | 04 Jan 15:54
    • Nickel falls as China stock markets halt trade
    • London, 4 January (Argus) — London Metal Exchange (LME) base metal prices fell across the board Monday after China's Purchasing Managers' Index (PMI) for manufacturing declined unexpectedly and domestic stocks dropped so sharply that local authorities had to halt trading nation-wide. Th
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    • NEWS | 04 Jan 15:38
    • US ferrous prices rise as January trading starts
    • Houston, 31 December (Argus) US steel mills have begun placing orders for January scrap deliveries and early transactions point to a stronger than expected price increase. Rising steel prices, weather-related supply disruptions and lower scrap collections caused domestic market sentiment fo
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    • COMMENTARY | 31 Dec 21:59
    • Nickel premiums unchanged in Europe
    • Houston, 31 December (Argus) — European premiums for nickel were unchanged this week with limited activity on the London Metal Exchange and demand for product at a minimum through the end of the year. Spot nickel prices on the London Metal Exchange closed today at $8,665/t, up from $8,5
    • Read more
    • COMMENTARY | 31 Dec 21:55
    • European, Asian stainless scrap prices steady
    • Houston, 31 December (Argus) — Northern European stainless steel scrap prices were steady this week at 41-42¢/lb for 304 solids and 54-55¢/lb for 316 scrap, both basis Rotterdam. In Germany, buyers are still matching Rotterdam prices but some have bid for material at 1-2¢/lb lower. Pri
    • Read more
    • COMMENTARY | 31 Dec 21:47
    • Stainless scrap prices holding firm in US
    • Houston, 31 December (Argus) — US stainless steel scrap prices held firm this week on limited trading activity. Processor buying prices for 304 (18-8) scrap solids were $830-$860/gross ton (gt) today, unchanged from a week earlier and 316 scrap solids traded at $1,040-1,095/gt. On the
    • Read more
    • COMMENTARY | 31 Dec 21:26
    • This Week in Metals: 28-31 December
    • Houston, 31 December (Argus) — Measures of business activity showed contractions in the US and China this week, as 2015 comes to an end with sharp declines in metals and other commodities that weighed on producer share prices. A measure of business activity in the US midwest region fell
    • Read more
    • COMMENTARY | 31 Dec 21:07
    • Aluminum scrap spreads tighten on supply concerns
    • Houston, 31 December (Argus) — Spreads for most mill grade aluminum scrap narrowed this week as many prices remained unchanged and the midwest transaction price slipped to 77¢/lb from the two-month high of 78¢/lb it reached last week. London Metal Exchange cash prices for aluminum fell
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    • COMMENTARY | 31 Dec 20:55
    • US copper scrap spreads unchanged
    • Houston, 31 December (Argus) — US copper scrap price spreads remained unchanged for the last two weeks of the year on lack of flow and availability. Market participants said traded volumes were thin this week because many participants were away for the holidays. Consumer buying price
    • Read more
    • COMMENTARY | 31 Dec 20:53
    • US copper cathode premiums unchanged
    • Houston, 31 December (Argus) — US copper cathode premiums remained unchanged this week to finish off a quiet end to 2015. Market participants said traded volumes were thin this week because many were away for the holidays. Cathode Grade A premiums were at 5-6¢/lb delivered midwest cons
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    • NEWS | 31 Dec 18:35
    • Essar Steel accepts loan repayment offer
    • Houston, 31 December (Argus) — Essar Steel Minnesota has accepted terms of repayment of loans just before the deadline set by the state expired. Minnesota state governor Mark Dayton said that Essar Steel Minnesota and its parent company, Essar Global Fund yesterday accepted the state's
    • Read more
    • NEWS | 31 Dec 18:16
    • US molybdenum output falls
    • New York, 31 December (Argus) — US molybdenum in concentrate production in the first ten months of 2015 declined by 13,700t or by 24pc to 44,000t from a year earlier. Data by the US Geological Survey (USGS) show US molybdenum in concentrate production for October 2015 fell by 25pc from
    • Read more
    • NEWS | 31 Dec 18:13
    • US vanadium imports, exports drop
    • New York, 31 December (Argus) — US ferrovanadium imports for the first ten months of the year fell by 39pc to 1,750t from a year earlier. Data by the US Geological Survey (USGS) show that imports of ferrovanadium during October 2015 rose by 45pc to 114t from a month earlier. Imports of
    • Read more
    • NEWS | 31 Dec 17:53
    • ATI to lay off 259 plant workers
    • Houston, 31 December (Argus) — US specialty metals producer Allegheny Technologies (ATI) plans to permanently lay off 259 employees at its flat rolled products operations in Midland, Pennsylvania. ATI filed the layoff notices under Worker Adjustment and Retraining Notification (WARN) Ac
    • Read more
    • COMMENTARY | 31 Dec 12:42
    • LME nickel: Funds reduce long positions
    • London, 31 December (Argus) — London Metal Exchange (LME) nickel prices rose $60/t during the short trading week as most stainless steel scrap yards remain closed and factories did not take new material. Also, over the Christmas period funds reduced their net overall long positions to 10
    • Read more
    • NEWS | 30 Dec 22:46
    • Mueller signs into Bahrain copper mill project
    • Houston, 30 December (Argus) — US-based copper manufacturer Mueller Industries has signed a joint venture agreement with Cayan Ventures and Bahrain Mumtalakat Holding to build a copper tube mill in Bahrain to serve the fast-growing air conditioning and refrigeration markets in the Middle
    • Read more
    • NEWS | 30 Dec 20:59
    • Regulator mediates in ATI lockout dispute
    • Houston, 30 December (Argus) — A federal mediator met today met with United Steelworkers (USW) union and Allegheny Technologies (ATI) officials to seek an end to a nearly five-month lockout of union employees. The parties spent three hours together to review their respective positions a
    • Read more
    • NEWS | 30 Dec 19:45
    • European copper scrap, premiums steady
    • Houston, 30 December (Argus) — European copper scrap price spreads saw no change today from last week in expectation of lackluster trading over the holidays. Market participants said traded volumes were thin this week as demand remains limited in the face of currently unlimited inventor
    • Read more
    • NEWS | 30 Dec 19:22
    • Nyrstar signs prepayment for zinc contract
    • New York, 30 December (Argus) — Global zinc and lead producer Nyrstar has signed a $150mn prepayment agreement with Deutsche Bank to make physical delivery of refined zinc metal to global base metals and energy trader Trafigura. The zinc sales contract will last three years, and the tr
    • Read more
    • COMMENTARY | 30 Dec 19:08
    • Chinese buyers push US aluminum scrap up
    • Houston, 30 December (Argus) — US aluminum scrap export prices increased this week as Chinese buyers continued to fill some of their inventory needs, taking advantage of the current low pricing. Nonferrous shredded scrap prices for zorba, 94pc metallic with 3-4pc red metal content, were
    • Read more
    • NEWS | 30 Dec 18:38
    • Haynes signs agreement with United Steelworkers
    • New York, 30 December (Argus) — US-based nickel and cobalt alloy producer Haynes International has ratified a five year agreement with the membership of the United Steelworkers Local 1505 to cover employees at the company's Arcadia, Louisiana facility. The Arcadia facility uses feedstoc
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    • NEWS | 30 Dec 16:32
    • US firm Fairchild receives unsolicited buy offer
    • London, 30 December (Argus) — US semiconductor and lighting component manufacturer Fairchild Semiconductor International has acknowledged receipt of an unsolicited proposal to acquire all outstanding shares of common stock in the company. The revised proposal would see each share value
    • Read more
    • NEWS | 30 Dec 16:17
    • US iron ore shipments fall in October
    • Houston, 30 December (Argus) — US domestic iron ore shipments decreased by 33pc in October compared to the same month a year prior as mines and a direct-reduced iron (DRI) facility were either shut down or idled. Iron ore shipments fell to 3.8mn metric tonnes from 5.8mn t in October the
    • Read more
    • NEWS | 30 Dec 15:48
    • US Steel Canada ships less steel, tops forecasts
    • Houston, 30 December (Argus) — US Steel Canada shipped 22pc less steel in the 11 months through November than the same period last year because of weak market conditions. But its performance last month topped projections in its Independent Business Plan (IBP) filed with the bankruptcy co
    • Read more
    • NEWS | 30 Dec 15:32
    • Norilsk sells Bystrinksy stake to Chinese fund
    • New York, 30 December (Argus) — Russian nickel and palladium producer MMC Norilsk Nickel sold a 13pc stake for $100mn in the Bystrinsky project to China-based investment group Highland Fund. The Bystrinksy mine is located in the Russian Trans-Baikal territory in the eastern Siberia regi
    • Read more
    • NEWS | 30 Dec 00:14
    • Essar Steel quiet on $66mn loan repayment
    • Houston, 30 December (Argus) — Essar Steel Minnesota has yet to respond to a proposal from Minnesota Governor Mark Dayton outlining terms for their repayment of $66mn in loans relating to its Mesabi Range iron ore project. The company has until 30 December to accept the proposal. The p
    • Read more
    • NEWS | 29 Dec 21:53
    • St. Louis steelmaker faces OSHA citations
    • Houston, 29 December (Argus) — The US Department of Labor's Occupational Safety and Health Administration (OSHA) cited steel bar manufacturer St. Louis Cold Drawn for two willful, seven repeated, and 22 serious safety and health violations. The citations, which were announced yesterday,
    • Read more
    • NEWS | 29 Dec 20:31
    • US court strikes down Buy America steel exemptions
    • Houston, 29 December (Argus) — A US district judge has ruled in favor of US steel producers and workers in their suit against the Federal Highway Administration (FHWA) and the Transportation Department. The ruling struck down two groups of exemptions from Buy America requirements for ste
    • Read more
    • NEWS | 29 Dec 20:21
    • US steel producers seek delay in antidumping case
    • Houston, 29 December (Argus) — US steel producers have requested the postponement of a final determination for antidumping duties on certain corrosion resistant steel products from Taiwan. Six companies asked the department yesterday to delay the final determination from 8 March to 10 M
    • Read more
    • COMMENTARY | 29 Dec 19:10
    • US indium: Price unchanged, watching Fanya
    • London, 29 December (Argus) — US indium price was locked in a holding pattern this week as business activity fell and a spate aggressive offers out of China eased. US indium price was assessed unchanged on 29 December in a range of $220-$250/kg. Price has come under downside pressure o
    • Read more
    • NEWS | 29 Dec 17:56
    • Chinese steel exports edge up in November
    • London, 29 December (Argus) — Steel exports from China increased by 6.5pc last month from October to 9.6mn t, customs data show. South Korea, the largest importer of steel products from China, increased its receipts by 12pc to 1.15mn t, while Indonesia's imports climbed by 60.6pc to aro
    • Read more
    • NEWS | 29 Dec 17:51
    • Chile targets price support for small copper mines
    • Sao Paulo, 29 December (Argus) — New legislation aimed at establishing a permanent price support mechanism for Chile's small-scale copper miners is being drafted. Proposals will go before lawmakers in the next six months, according to Chile's mining ministry. Smaller-scale copper produc
    • Read more
    • NEWS | 29 Dec 17:44
    • Brazil approves Ball, Rexam merger
    • Houston, 29 December (Argus) — Economic regulators in Brazil have approved Colorado-based packaging manufacturer Ball's acquisition of European competitor Rexam after voicing concerns in September that the transaction could harm competition in the country's aluminum can sector. The comp
    • Read more
    • NEWS | 29 Dec 16:55
    • Severstal considers boosting HRC shipments
    • Moscow, 29 December (Argus) — Russian steelmaker Severstal is considering ramping up its output and sales of hot-rolled coil (HRC) next year, but it is yet to set a target, as market conditions remain weak. The potential hike would follow the completion of planned reconstruction and mai
    • Read more
    • NEWS | 29 Dec 16:21
    • Desert Star receives Copper King drilling approval
    • London, 29 December (Argus) — Canada-based mineral exploration company Desert Star Resources has received approval from the US Forest Service to drill up to 10 sites at its Copper King project in Arizona. Drilling at the project is expected to start by the middle of January. The drilli
    • Read more
    • NEWS | 29 Dec 16:14
    • Aberdeen acquires Diabillos lithium project
    • London, 29 December (Argus) — Canadian mining firm Aberdeen International has purchased Argentinian lithium and potash producer Plasa from Toronto-based Rodinia Lithium. Plasa is developing the Diabillos lithium-potash project in Argentina. Aberdeen will pay Rodinia C$5mn ($3.6mn) for 1
    • Read more
    • ANALYSIS | 29 Dec 15:41
    • Metals prices rise as output cuts take effect
    • London, 29 December (Argus) — Prices for some battery and alloying metals have risen in recent weeks as supply has tightened following production cuts to reduce large surpluses in inventory. Minor metals markets moved lower for most of 2015 as demand from China's slowing economy weakene
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    • NEWS | 28 Dec 22:07
    • US indicators for primary metals continue to fall
    • New York, 28 December (Argus) — The US Geological Survey's primary metals leading index decreased by 4.1pc to 157.9 in November from 164.8 the year prior and by 0.1pc from the 158 in October of this year. Below average US manufacturing levels hindered metals demand for the first eleven
    • Read more
    • NEWS | 28 Dec 21:20
    • US steel production falls further
    • Houston, 28 December (Argus) — US raw steel production dropped by 4.4pc to 1.46mn net tons (1.32mn metric tonnes) in the week ending 26 December according to the American Iron and Steel Institute (AISI). Raw steel output in the latest week fell by 18.9pc compared to the same week a yea
    • Read more
    • ANALYSIS | 28 Dec 20:11
    • Viewpoint: US aluminium cuts to be less severe
    • Washington, 28 December (Argus) — US aluminium producers have eased plans to cut primary aluminium smelting capacity, helping to slightly soften the blow to US anode-grade petroleum coke markets. The cuts still shrink the US aluminium industry's demand for coke by nearly one-third from
    • Read more
    • NEWS | 28 Dec 18:20
    • Australia targets Chinese rebar imports in probes
    • Houston, 28 December (Argus) — Australia launched an investigation into alleged countervailable subsidies provided by the Chinese government on imports of steel rebar following an affirmative anti-dumping decision on the same imports. The investigation was initiated by Australia's Anti
    • Read more
    • NEWS | 28 Dec 18:03
    • Rail agency to define on-time passenger service
    • Washington, 28 December (Argus) — Federal railroad regulators want to define on-time performance for passenger trains, a move that could have big implications for freight carriers required to give Amtrak service preference on their lines. The Surface Transportation Board (STB) today iss
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    • NEWS | 28 Dec 16:13
    • Freeport-McMoRan’s chairman Moffett steps down
    • Freeport-McMoRan's chairman Moffett steps down Houston, 28 December (Argus) — US diversified miner Freeport-McMoRan's chairman of the board and co-founder James Moffett will step down from the board and as executive chairman. Moffett, who has been named chairman emeritus, will become a c
    • Read more
    • COMMENTARY | 24 Dec 20:51
    • This Week in Metals: 21-24 December
    • Houston, 24 December (Argus) — Chinese policymakers released a draft economic blueprint that implies slower, more balanced economic growth, while US economic data was mainly soft this week and Brazil's central bank forecast a deepening recession. Chinese policymakers released an economi
    • Read more
    • NEWS | 24 Dec 18:57
    • Petitioners seek Turkey steel trade case alignment
    • Houston, 24 December (Argus) — Petitioners in a US trade case have requested the Commerce Department's final determinations on antidumping and countervailing duties on imports of hot-rolled steel flat products from Turkey be aligned so the two decisions are published the same day. Attor
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    • NEWS | 24 Dec 18:37
    • US ferrous scrap price sentiment not hit by weaker exports
    • US scrap sentiment not hit by weaker exports Houston, 24 December (Argus) — US ferrous scrap bulk export prices for HMS 1/2 80:20 dropped to a range of $185-185.50/t cfr Turkey this week on the back of two east coast sales. The sales were the first from the US to Turkey since 11 November,
    • Read more
    • COMMENTARY | 24 Dec 18:30
    • US aluminum scrap export prices in mixed market
    • Houston, 24 December (Argus) — US aluminum scrap export prices were unchanged this week as Chinese buyers continued to fill some inventory needs at low prices. Market participants said that export sales to China continued to be slow this week as Chinese buyers picked between better lots
    • Read more
    • COMMENTARY | 24 Dec 18:19
    • US stainless steel scrap prices rise
    • Houston, 24 December (Argus) — US processor buying prices for stainless steel scrap strengthened this week as demand for prompt deliveries picked up. 304 (18-8) scrap solids traded at $830-860/gross ton (gt) this week, up from $815-850/gt a week earlier, while 316 scrap solids traded at
    • Read more
    • NEWS | 23 Dec 23:34
    • US zinc output falls to lowest since 2013
    • Houston, 23 December (Argus) — US recoverable zinc production from mines fell by 7.2pc to 58,900t in October from the same month a year earlier, reaching the lowest monthly level since March 2013 as prices weakened. Output rose in October from 58,400t the prior month, the US Geological
    • Read more
    • NEWS | 23 Dec 23:28
    • Globe, FerroAtlantica merge to form Ferroglobe
    • New York, 23 December (Argus) — US silicon producer Globe Specialty Metals has finalized its merger with Grupo FerroAtlantica, the Spanish based silicon and ferrosilicon producer. Their combined entity will be called Ferroglobe, the companies announced today after receiving all regulato
    • Read more
    • COMMENTARY | 23 Dec 22:12
    • US copper scrap spreads tighten
    • Houston, 23 December (Argus) — Copper spreads for bare bright tightened this week as strict inventory management prompted an uptick in demand for early deliveries next year. Consumer buying price spreads for bare bright traded at 1-3¢/lb under the most actively traded Comex contract, fo
    • Read more
    • COMMENTARY | 23 Dec 21:13
    • US copper cathode premiums flat on steady supply
    • Houston, 23 December (Argus) — US copper cathode premiums were unchanged this week as supply remained ample and mild weather eased rail and truck deliveries. Cathode Grade A premiums were 5-6¢/lb over the most actively traded Comex contract, for March delivery, to midwest consumers. One
    • Read more
    • NEWS | 23 Dec 21:01
    • US finished steel imports weaken in November
    • Houston, 23 December (Argus) — US imports of finished steel fell by 15.6pc in November from the previous month, led be declining imports from Turkey and South Korea. The US imported 1.92mn net tons (1.74mn metric tonnes) of finished steel products, compared with 2.27mn nt the prior mon
    • Read more
    • NEWS | 23 Dec 20:10
    • US aluminum scrap recoveries fall
    • Houston, 23 December (Argus) — US aluminum recovered from scrap fell by 8pc in October from the same month a year earlier, led by declines in recoveries from old scrap. Aluminum recovered from scrap totaled 297,000t, compared with 321,000t a year earlier. Recoveries in October fell from
    • Read more
    • NEWS | 23 Dec 19:13
    • US primary aluminum output, imports fall
    • Houston, 23 December (Argus) — Primary aluminum production in the US fell by 7pc in October from the same month a year earlier, while imports of aluminum for consumption fell by 2pc amid weakening prices. Production totaled 128,000t in October, compared with 137,000t the same month a ye
    • Read more
    • NEWS | 23 Dec 19:02
    • Rail regulator approves operating cost figure
    • Washington, 23 December (Argus) — The Surface Transportation Board (STB) approved a proposed figure submitted by Class I railroads that is used to calculate the fairness of shipping rates. STB approved the Association of American Railroads' (AAR) rail cost adjustment factor for the firs
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    • NEWS | 23 Dec 18:57
    • Magnetation unit allowed to ship ore to AK Steel
    • Houston, 23 December (Argus) — The MagPellet subsidiary of US iron ore producer Magnetation has been authorized by a Minnesota bankruptcy court to assume its iron ore pellet offtake agreement with AK Steel. The decision allows MagPellet to keep and enforce its long-term purchase agreeme
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    • COMMENTARY | 23 Dec 18:55
    • US bulk export price to Turkey drops
    • London, 23 December (Argus) — US-origin HMS 1/2 80:20 cfr Turkey steel scrap prices dropped by over $4/t to $185.50/t cfr Turkey today on the back of a US sale into Turkey yesterday evening. A US east coast supplier sold 20,000t of HMS 1/2 80:20 at $185.5/t, 10,000t of shred at $190.50/
    • Read more
    • NEWS | 23 Dec 18:05
    • Mexico levies large duties on Chinese steel
    • Houston, 23 December (Argus) — Mexico levied antidumping duties as high as $354.92t on imports of hot rolled steel from China and set lower antidumping duties on imports of the steel from Germany and France, in its latest move to protect its steelmakers from unfairly traded imports. Mex
    • Read more
    • NEWS | 23 Dec 17:39
    • Canada iron ore exports to China soar
    • London, 23 December (Argus) — Australia and Brazil accounted for more than 85pc of China's iron ore imports in November, with both countries ramping up shipments, driving an overall 8.76pc month-on-month increase in China's iron ore imports, customs data show. Of the 82.13mn t of iron o
    • Read more
    • NEWS | 22 Dec 23:09
    • China corrosion-resistant steel duties: correction
    • Corrects duty in paragrah 2 Houston, 22 December (Argus) — The US Commerce Department today levied preliminary duties of 255.8pc on imports of corrosion-resistant steel from China, and set lower duties on imports from Italy, India and South Korea after those countries were found to be
    • Read more
    • NEWS | 22 Dec 20:44
    • Stainless steel surcharges drop for January
    • Houston, 22 December (Argus) — US stainless steel producers have lowered nickel-based surcharges for January shipments for the seventh successive month due to continued weakness in nickel and chrome prices. North American Stainless (NAS), AK Steel and Allegheny Technologies (ATI) lowere
    • Read more
    • NEWS | 22 Dec 20:35
    • US truck tonnage index fell in November
    • Houston, 22 December (Argus) — US trucking volume decreased by 0.9pc in November compared with a month earlier, after an increase of 1.8pc was seen from September to October, according to data from the American Trucking Association (ATA). The ATA index for November was 134.3, down from
    • Read more
    • NEWS | 22 Dec 19:46
    • US rail agency powers expand under new law
    • Washington, 22 December (Argus) — The US Surface Transportation Board (STB) is set for an overhaul after President Barack Obama signed a law that increases its size to five members and aims to streamline the rate review process. Obama signed the Surface Transportation Board Reauthorizat
    • Read more
    • NEWS | 22 Dec 19:16
    • Axiom signs nickel ore deal with Gunvor
    • London, 22 December (Argus) — Australian mining company Axiom Mining has signed an off-take agreement with Singapore-based trading house Gunvor Group for one year's worth of nickel ore production from its Isabel Nickel mine. Mine is being developed in the Solomon Islands and is due to s
    • Read more
    • COMMENTARY | 22 Dec 18:55
    • Base metals mixed as US data weakens
    • Houston, 22 December (Argus) — Base metals were mixed on terminal exchanges today as US economic and housing data softened while China's leaders were meeting to discuss the course of economic policymaking. The US economy grew at a 2pc pace in the third quarter, the latest revision from
    • Read more
    • NEWS | 22 Dec 18:17
    • Keystone plans to build wire facility in Texas
    • Houston, 22 December (Argus) — Keystone Consolidated Industries plans to build a welded wire reinforcement mesh manufacturing operation through its subsidiary Engineered Wire Products (EWP) in Texas. The facility, located in Sherman, will be capable of producing roughly 140,000nt/yr (12
    • Read more
    • NEWS | 22 Dec 18:11
    • US sets preliminary duties on Turkish pipe, tube
    • Houston, 22 December (Argus) — The US Department of Commerce today found in its preliminary determination that counter-vailable subsidies were provided by the Turkish government to producers and exporters of heavy walled rectangular welded carbon steel pipes and tubes. The department ha
    • Read more
    • NEWS | 22 Dec 17:13
    • Tata enters talks to sell Long Products Europe
    • London, 22 December (Argus) — Indian steelmaker Tata Steel has entered negotiations to sell its Long Products Europe division to investment firm Greybull Capital. The negotiations concern Tata Steel's UK-based assets, including the entire Scunthorpe steelworks, steel mills in Teesside,
    • Read more
    • NEWS | 22 Dec 14:00
    • World stainless steel output falls slightly
    • London, 22 December (Argus) — Stainless steel melt shop production was 31.3mn t in the first nine months of 2015, a 0.5pc fall on the same period a year earlier, said new data from the the International Stainless Steel Forum (ISSF). Production increased in the Americas and in China, the
    • Read more
    • NEWS | 22 Dec 11:55
    • Peru forecasts increase in copper production
    • Sao Paulo, 22 December (Argus) — Peru's production of copper fines will rise 65.5pc in 2016 compared with 2015 to around 2.5mn t, Energy and Mines Minister Rosa Maria Ortiz said. The increase will come on the back of new projects at Las Bambas and Constancia, the expansion of Cerra Verd
    • Read more
    • NEWS | 21 Dec 23:16
    • US raw steel production decreases
    • Houston, 21 December (Argus) — US raw steel production dropped by 0.8pc to 1.52mn net tons (1.38mn metric tonnes) in the week ended 19 December from 1.54mn nt the prior week, the American Iron and Steel Institute (AISI) said today. Capacity utilization decreased to 63.7pc in the latest w
    • Read more
    • NEWS | 21 Dec 21:59
    • US Steel halts EAF build in Alabama
    • Houston, 21 December (Argus) — US Steel has postponed the construction of an electric arc furnace (EAF) at its Fairfield works facility due to challenging market conditions in the oil and gas steel industries. The company has postponed the construction of a 1.6mn net ton (1.45mn metric
    • Read more
    • NEWS | 21 Dec 21:33
    • Copper demand falls as output rises
    • Houston, 21 December (Argus) — Global apparent use of copper declined by around 1.5pc in the first nine months of 2015 compared with the same period last year, while production of refined copper rose by around 3pc. World refined usage fell to 16.8mn metric tonnes in the January-Septembe
    • Read more
    • NEWS | 21 Dec 21:24
    • Nexteer union employees ratify new contract
    • Houston, 21 December (Argus) — United Auto Workers (UAW) union members in Michigan approved a new contract with Nexteer following negotiations and a short strike earlier this month. Members approved the new contract that is valid until 20 March, 2020 by a vote of 61.4pc to 38.6pc, UAW l
    • Read more
    • NEWS | 21 Dec 21:18
    • Latin American steel output falls, imports rise
    • Houston, 21 December (Argus) — Production of finished steel in Latin America and the Caribbean fell by 4pc in the first 10 months of the year, while imports rose by 1pc in the same period. Output of finished steel declined to 44.9mn t from the same period a year earlier, the Latin Ameri
    • Read more
    • ANALYSIS | 21 Dec 19:07
    • Viewpoint: Low volumes force US recycling closures
    • Houston, 21 December (Argus) — US post-consumer ferrous scrap collections are down by an estimated 20-40pc year-to-date as falling demand from mills hit scrap prices and hurt margins. Sustained high levels of steel imports from countries now fighting antidumping and countervailing charg
    • Read more
    • NEWS | 21 Dec 18:09
    • Ball to boost Czech aluminum can output
    • Houston, 21 December (Argus) — Colorado-based packaging manufacturer Ball will increase aerosol can output at its Velim plant in the Czech Republic with a new impact extrusion line that is expected to begin production in the fourth quarter of 2016, the company said today. The plant curr
    • Read more
    • NEWS | 21 Dec 17:46
    • Vale to contest Brazil mining shutdown: Update
    • Adds Vale spokeswoman comment in second paragraph and context in fourth paragraph Sao Paulo, 21 December (Argus) — Brazilian mining company Vale will contest a 19 December ruling by Brazil's federal court suspending mining licences held by Vale and UK-Australian company BHP Billiton f
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    • NEWS | 21 Dec 17:34
    • Global pig iron output hits two-year low
    • London, 21 December (Argus) — Pig iron production worldwide fell in November to its lowest monthly total since November 2013, with China and the EU leading output cuts, the World Steel Association said. Output of 90.54mn t in November was down from 95.02mn t in October and 2.2pc lower t
    • Read more
    • NEWS | 21 Dec 16:51
    • US Steel, union reach accord
    • Houston, 21 December (Argus) — The United Steelworkers (USW) union reached a tentative agreement with US Steel on a three-year collective bargaining agreement for roughly 18,000 union employees. The contract must still be ratified by members from 26 USW localities, and details of the ag
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    • NEWS | 21 Dec 15:49
    • Global crude steel output down in November
    • London, 21 December (Argus) — Crude steel production in November fell by over 4pc compared with a year earlier and was down by nearly 4.5pc from October at just under 127mn t, World Steel Association data showed. China, the world's largest producer, cut November output by 1.6pc year on
    • Read more
    • NEWS | 21 Dec 14:25
    • Zimasco signs deal to restart HC FeCr production
    • London, 21 December (Argus) — Zimbabwe's biggest integrated ferro-chrome producer Zimasco has signed a five-year trading deal with South African trading company Portnex International that will allow the restart of production in the first quarter of next year. The move will see the resta
    • Read more
    • COMMENTARY | 19 Dec 00:21
    • US ferrous scrap prices expected to rise
    • Houston, 19 December (Argus) — US ferrous scrap prices are expected to increase by $10-20/gross ton in January in all regions of the country barring local markets that are predominantly geared to serve exporters. A recent push by steel producers to raise sheet and plate prices by $40/net
    • Read more
    • COMMENTARY | 19 Dec 00:18
    • This Week in Metals: 14-18 December
    • Houston, 19 December (Argus) — The US Federal Reserve raised its key overnight lending rate for the first time since 2006, boosting the dollar and sending the prices of many commodities including oil and some metals lower, while most US equity markets ended the week lower after initial g
    • Read more
    • NEWS | 18 Dec 22:14
    • Labor watchdog to cite ATI lockout
    • Houston, 18 December (Argus) — The US agency tasked with ensuring fair labor practices will issue a complaint against Allegheny Technologies (ATI) regarding its lockout of United Steelworkers (USW) union employees, the union said. The National Labor Relations Board's complaint will alle
    • Read more
    • NEWS | 18 Dec 22:06
    • Century Aluminum in deal to keep Mt. Holly running
    • Houston, 18 December (Argus) — Century Aluminum's Goose Greek smelter in Mt. Holly, South Carolina, will operate at half capacity as part of an agreement the company reached with utility company Santee Cooper to prevent a shutdown at the end of this year. The company appears set to cont
    • Read more
    • COMMENTARY | 18 Dec 19:55
    • US stainless scrap prices fall to 2009 levels
    • Houston, 18 December (Argus) — US processor buying prices for some stainless steel scrap grades fell by more than 5pc this week, pushing 304 stainless steel scrap prices to their lowest levels since 2009. US processor buying prices for 304 (18-8) stainless steel scrap solids were $815-8
    • Read more
    • NEWS | 18 Dec 19:34
    • Mexico opens antidumping probe of Chinese steel
    • Houston, 18 December (Argus) — Mexico launched antidumping investigations into imports of cold rolled flat steel products from China and Taiwan after two steel producers alleged the imports entered the country at below fair market value and harmed national producers. The probe was launc
    • Read more
    • COMMENTARY | 18 Dec 17:14
    • LME aluminium higher on China output decision
    • London, 18 December (Argus) — London Metal Exchange (LME) aluminium traded higher on production restrictions in China while copper traded lower on the back of a higher dollar. Both metals saw more volatility this week after the US Federal Reserve's decision to hike rate and the conseque
    • Read more
    • COMMENTARY | 18 Dec 17:06
    • LME nickel higher on output cuts, zinc, lead lower
    • London, 18 December (Argus) — London Metal Exchange (LME) nickel prices traded higher this week propped up by production cut news from China while zinc and lead tin prices declined as global oversupply increased for both metals. Tin futures traded marginally higher on the week. Three-mo
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    • NEWS | 18 Dec 17:01
    • Severstal sees drop in Russian steel demand
    • Riga, 18 December (Argus) — Russian demand for steel products in 2016 is likely to fall by 10–12pc on the year, under pressure from the rouble's depreciation against the dollar, Russia's economic instability and falling global steel prices, Russian steelmaker Severstal's chairman, Alexei
    • Read more
    • NEWS | 18 Dec 16:51
    • Ferbasa ferro-alloys output down in November
    • Sao Paulo, 18 December (Argus) — Leading Brazilian ferro-chrome producer Ferbasa said ferro-alloys production fell 20pc in November from a year earlier to 18,716t as the company continues to adapt to a new power deal with northeast regional utility Chesf. Ferbasa sold 9,868t of high-car
    • Read more
    • NEWS | 18 Dec 16:17
    • Largo agrees $27mn working capital deal
    • Sao Paulo, 18 December (Argus) — Canadian mining firm Largo Resources, which is ramping up vanadium production at the Maracas Menchen mine in Brazil's northeast Bahia state, has agreed terms for 104.5mn reals ($26.6mn) in working capital funding and the restructuring of the terms of its
    • Read more
    • NEWS | 18 Dec 16:11
    • PPG Industries sources titanium dioxide
    • Houston, 18 December (Argus) — Pittsburgh-based coatings and paints producer PPG Industries has begun sourcing commercial quantities of chloride-grade titanium dioxide from titanium and zirconium producer Henan Billions. PPG uses the titanium dioxide in the production of standard grades
    • Read more
    • NEWS | 18 Dec 16:04
    • US molybdenum output falls
    • Houston, 18 December (Argus) — US molybdenum in concentrate production fell by 40pc to 3,960t in September from the same month a year earlier, outpacing a decline in shipments. Output fell by 8pc from the prior month, according to the US Geological Survey (USGS). US molybdenum concentra
    • Read more
    • NEWS | 18 Dec 15:59
    • US consumption of FeCr falls in October
    • New York, 18 December (Argus) — US ferro-chrome consumption fell 5.4pc in October on a downturn on the stainless steel industry, while imports fell by more than half, said new data from US Geological Survey (USGS). US consumption of high carbon and low carbon ferro-chrome was 32,350t in
    • Read more
    • NEWS | 18 Dec 15:55
    • Chemours sees falling titanium dioxide prices
    • Houston, 18 December (Argus) — US-based titanium dioxide producer Chemours expects the global average price of titanium dioxide to fall by more than 3pc in the fourth quarter from the prior three months, faster than previously expected. The Delaware-based company said the lower pricing
    • Read more
    • NEWS | 18 Dec 15:32
    • US FeMo consumption falls in September
    • New York, 18 December (Argus) — Consumption of ferro-molybdenum in the US fell 34pc in September as the industry failed to rebound following the summer slump, said data from US Geological Survey (USGS). US consumption of ferro-molybdenum was 241,000kg, down from 365,000kg in September a
    • Read more
    • NEWS | 18 Dec 14:41
    • Shippers want more data from railroads
    • Washington, 18 December (Argus) — Shippers want federal regulators to force railroads to release more information about their operations, in part to see if the carriers are favoring one commodity over another. Staff of the Surface Transportation Board (STB) has been meeting with railroa
    • Read more
    • NEWS | 18 Dec 14:41
    • Railroads, shippers await Transport Canada review
    • Washington, 18 December (Argus) — The rail industry and shippers in Canada are waiting to see how newly-appointed government officials will respond to a mandated statutory review of the economic policies governing the country's transportation network. Rail and shipping interests antici
    • Read more
    • NEWS | 17 Dec 23:40
    • AK Steel expects fewer shipments, higher prices
    • Houston, 17 December (Argus) — US producer AK Steel expects shipments to fall by about 14pc in the fourth quarter, reflecting decreased spot market sales and prices that are under pressure from imports. The Ohio-based company expects shipments to total about 1.6mn net tons (1.45mn metr
    • Read more
    • NEWS | 17 Dec 22:44
    • US copper scrap sales fall on year
    • Houston, 17 December (Argus) Copper and brass scrap domestic shipments are down by 15-25pc from the year to date. Strong industrial scrap flows were a moot point as obsolete collections dropped amid falling commodity prices, market participants said this week. The 25-year bull market in cop
    • Read more
    • COMMENTARY | 17 Dec 22:22
    • Copper premiums rise as sellers hold ground
    • Houston, 17 December (Argus) — US copper cathode premiums rose this week as lower priced material exited the market. Cathode Grade A premiums rose to a 5-6¢/lb range over the most actively traded Comex contract for March delivery to midwest consumers, up from 4-6¢/lb a week earlier. M
    • Read more
    • NEWS | 17 Dec 22:05
    • Century Aluminum to keep Sebree smelter running
    • Houston, 17 December (Argus) — Century Aluminum will continue to operate its Sebree, Kentucky, smelter at full capacity. The company said in October that it planned to idle one of the facility's three potlines before the end of the year. The company said today that competitive electrici
    • Read more
    • NEWS | 17 Dec 22:02
    • Voestalpine lowers revenue expectations
    • Houston, 17 December (Argus) — Austria-based Voestalpine lowered its revenue expectations for the business year 2014-2015 because of slower than anticipated global economic growth and lower prices for raw materials over the past three years. The average annual revenue growth projected t
    • Read more
    • NEWS | 17 Dec 18:46
    • Worthington's production falls with profits
    • Houston, 17 December (Argus) — Ohio-based diversified metals manufacturer Worthington Industries' steel processing fell by 8.5pc in the latest quarter, amid lower pricing, compared with the same year earlier quarter. The company processed 828,208nt (751,337 metric tonnes) in the latest
    • Read more
    • NEWS | 17 Dec 18:44
    • Alcoa wins $2.5bn in Boeing contracts
    • Houston, 17 December (Argus) — Primary aluminum producer Alcoa has been awarded a series of long-term contracts worth $2.5bn to provide fasteners for Boeing aircraft and titanium seat tracks for the entire family of 787 Dreamliner aircraft. The fasteners will be made of titanium, stainl
    • Read more
    • NEWS | 17 Dec 18:11
    • Isdemir crude steel production hits record high
    • London, 17 December (Argus) — Turkish steelmaker Isdemir produced more than 5mn t of crude steel on 1 January-16 December, meaning that the company's output will exceed 5mn t/yr for the first time, it said today. The company, which is part of the Erdemir Group, increased crude steel pro
    • Read more
    • ANALYSIS | 17 Dec 18:00
    • Anglo niobium sale may attract second-tier miners
    • Sao Paulo, 17 December (Argus) — London and Johannesburg-listed mining group Anglo American's niobium business in Brazil could become the target of second-tier mining companies or those already involved in ferro-alloy production. Anglo plans to push through the sale of its niobium and p
    • Read more
    • NEWS | 17 Dec 17:01
    • US rare earths imports decline in October
    • New York, 17 December (Argus) — US imports of rare earth oxides fell by more than half in October from a year earlier, as demand struggled to shake off the summer slowdown, US International Trade Commission data show. The country's rare earth oxide and chloride receipts totalled 171,269
    • Read more
    • COMMENTARY | 17 Dec 16:34
    • Nickel: LME, Chinese prices rise
    • London, 17 December (Argus) — London Metal Exchange (LME) nickel prices rose this week, after the World Bureau of Metal Statistics (WBMS) said the market moved into deficit in the first 10 months of this year. Prices rose to as high as $8,740/t yesterday, following the implementation of
    • Read more
    • NEWS | 17 Dec 16:20
    • SSAB creates new group, changes executives
    • Houston, 17 December (Argus) — Swedish steelmaker SSAB plans to add a new unit to its special steels group that will handle the company's "extended global service offering" on 1 February. The group, which will be known as SSAB Services, will be led by current head of market development
    • Read more
    • NEWS | 17 Dec 15:57
    • Steel Dynamics ships less at lower prices
    • Houston, 17 December (Argus) — Indiana-based steel manufacturer Steel Dynamics said today that volumes shipped and prices so far in the fourth quarter have been "significantly lower" in comparison to the third quarter of 2015. The company said volumes have been lower because of high lev
    • Read more
    • NEWS | 17 Dec 12:20
    • Rolls-Royce announces management shake up
    • London, 17 December (Argus) — UK power engineering firm Rolls-Royce on Wednesday announced a shake-up that will restructure divisions and remove a layer of senior management. Current structure of Rolls-Royce's Aerospace and Land Sea divisions will be replaced by five businesses - Civi
    • Read more
    • NEWS | 17 Dec 00:26
    • US slaps import duties on Chinese steel
    • Houston, 17 December (Argus) — The US today levied preliminary duties of 227.29pc on imports of cold rolled steel from China and set lower duties on imports from Brazil, India and Russia after those countries were found to be subsidizing their exports. No suspect subsidies were found on
    • Read more
    • NEWS | 16 Dec 23:24
    • Refined zinc oversupply falls
    • Houston, 16 December (Argus) — Global oversupply of refined zinc fell in the first 10 months of the year as refined production rose faster than metal demand. World supply of refined zinc exceeded demand by 213,000t in the January-October period, compared with 242,000t in the same year e
    • Read more
    • NEWS | 16 Dec 23:21
    • Kaiser Aluminum to spend $150mn on Spokane mill
    • Houston, 16 December (Argus) — California-based Kaiser Aluminum plans to spend $150mn over five years to upgrade its Trentwood rolling mill in Spokane, Washington. Most of the improvements will focus on modernizing older equipment at the facility making thin-gauge aluminum plate for "ae
    • Read more
    • NEWS | 16 Dec 22:58
    • Lead glut grows on weak demand
    • Houston, 16 December (Argus) — The global glut of refined lead more than tripled in the first 10 months of the year from the same period a year earlier as demand fell faster than production. World supply of refined lead exceeded demand by 22,000t in the first 10 months of the year, comp
    • Read more
    • NEWS | 16 Dec 22:37
    • FerroAtlantica shelves $382mn silicon plant
    • Houston, 16 December (Argus) — Spanish ferro-alloy producer Grupo FerroAtlantica has cancelled the construction of a $382mn silicon plant in Port-Cartier, Quebec, citing Chinese competition as the cause. The plant was expected to begin operation in 2017 and had a 100,000t/yr production
    • Read more
    • NEWS | 16 Dec 22:17
    • Aluminum deficit narrows, copper in surplus
    • Houston, 16 December (Argus) — The calculated market deficit for primary aluminum in the first ten months of 2015 narrowed to 279,000t, following a deficit of 589,000t for the whole of 2014, the World Bureau of Metal Statistics (WBMS) said. Demand for primary aluminum for the January-Oc
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    • NEWS | 16 Dec 22:03
    • Fritz Winter to build foundry in Kentucky
    • Houston, 16 December (Argus) — German-owned automotive parts manufacturer Fritz Winter North America plans to build a $193.7mn foundry and production facility in Kentucky, the Kentucky Cabinet for Economic Development (KCED) said. Construction of the facility may start early next year,
    • Read more
    • NEWS | 16 Dec 21:31
    • Flack Steel and Precoat Metals buy CMP
    • Houston, 16 December (Argus) — Consolidated Systems has sold its Consolidated Metal Products (CMP) group to Ohio-based steel service center Flack Steel and Missouri-based Precoat Metals. Flack Steel expects the purchase to increase annual revenue to an excess of $300mn as it can now off
    • Read more
    • NEWS | 16 Dec 19:12
    • ArcelorMittal to restructure Americas group
    • Houston, 16 December (Argus) — Global integrated steelmaker ArcelorMittal plans to restructure its Americas business with dedicated leadership for four regional units after the segment's chief executive Lou Schorsch retires at the end of February. Jim Baske will become the chief executi
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    • NEWS | 16 Dec 17:55
    • Nucor halts restart of DRI plant
    • Houston, 16 December (Argus) US-based steel producer Nucor will not restart its direct reduced iron (DRI) facility located in Louisiana because of low raw materials prices, the company said today. Nucor Steel Louisiana, which operates the DRI facility in St. James, had an operating loss of
    • Read more
    • NEWS | 16 Dec 17:50
    • SSAB shipments and prices lower than expected
    • Houston, 16 December (Argus) — Sweden-based steel manufacturer SSAB today said that its prices and volumes shipped so far in the fourth quarter have been "significantly weaker" than anticipated in its third quarter earnings report. The company expects demand in North America to increas
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    • NEWS | 16 Dec 17:40
    • Nucor steel mill margins decrease as prices drop
    • Houston, 16 December (Argus) — US steelmaker Nucor expects operating performance at its steel mills to weaken in the fourth quarter from the prior three months, the company said today. The North Carolina-based producer said margins for sheet and bar steel mills in particular have decrea
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    • NEWS | 16 Dec 15:28
    • Russia's November steel output down on the year
    • Moscow, 16 December (Argus) — Russia's January-November crude steel output was 0.2pc lower on the year this year at 63.7mn t, with production down by 4.2pc last month from a year earlier at 5.6mn t, statistics agency Rosstat data show. Pig iron output rose by 4.5pc year on year in the f
    • Read more
    • NEWS | 16 Dec 15:06
    • Ruby Creek molybdenum mine sale completed
    • Sao Paulo, 16 December (Argus) — Sale of Adanac's stalled Ruby Creek molybdenum project in Canada to WBOX, an affiliate of hedge fund firm Whitebox Advisors has gone through. Adanac struggled to get the Ruby Creek open pit mine in British Columbia off the ground after molybdenum prices
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    • NEWS | 16 Dec 14:43
    • Sweden scoping study shows viable copper project
    • Johannesburg, 16 December (Argus) — Australia-based mining firm Avalon Minerals said on 13 December that a scoping study justifies the continued development of its Viscaria copper project in northern Sweden. The company said the scoping study demonstrated that the project has "robust fu
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    • NEWS | 16 Dec 14:34
    • US silicon metal output falls in September
    • New York, 16 December (Argus) — US silicon metal and alloys production fell in September, with latest data from US Geological Survey (USGS) showing a 6.6pc fall from the same month in 2014, but up 4.1pc on August. Silicon metal and alloys production in September was 38,400t compared wit
    • Read more
    • COMMENTARY | 16 Dec 12:25
    • US indium: Steady amid directionless market
    • New York, 16 December (Argus) — US indium price is unchanged and has started to show renewed signs of stability amid slack demand levels and a slight easing in cheaper offers. Price continues to sit in a range of $225-$260/kg this week as assessed on 15 December, a level last seen in Nov
    • Read more
    • NEWS | 16 Dec 12:16
    • US military offers FeCr for sale in December
    • New York, 16 December (Argus) — US military's procurement arm, the Defense Logistics Agency (DLA), has offered a total of 3,968 short tons (st) of high carbon ferro-chrome and 2.8mn lbs of low carbon material for sale in December. Agency is offering 3,968st of Cr65.03pc and C5.90pc high
    • Read more
    • NEWS | 15 Dec 23:08
    • O’Neal Industries to close manufacturing facility
    • O'Neal Industries to close manufacturing facility Houston, 15 December (Argus) — Metals service center group O'Neal Industries plans to close its manufacturing services facility in Alabama because of the weak industrial metals market, the company said. The Birmingham-based O'Neal Manufa
    • Read more
    • NEWS | 15 Dec 22:31
    • Novelis to produce aluminum sheet for Ford trucks
    • Houston, 15 December (Argus) — Atlanta-based recycler Novelis will produce high-strength aluminum sheet for Ford's F-Series Super Duty trucks at its Oswego, New York, plant with the first deliveries planned for spring 2016. The plant is in the process of commissioning a third automotive
    • Read more
    • NEWS | 15 Dec 16:44
    • Outokumpu divests stake in Fischer Mexicana
    • Houston, 15 December (Argus) — Finland-based stainless steel producer Outokumpu has completed the sale of its 50pc stake in Fischer Mexicana to former joint venture partner Fischer Edelstahlrohre for $63mn. The divestiture was first announced in late September and will decrease Outokump
    • Read more
    • NEWS | 15 Dec 16:27
    • Canada service center aluminum stocks fall by 11pc
    • Houston, 15 December (Argus) — Canadian service center aluminum inventories fell by 10.7pc in November from a year earlier, representing a seasonally adjusted 3 months of supply. Service center aluminum inventories fell to 35,700t from 39,900t the same month a year earlier, the Illinois
    • Read more
    • NEWS | 15 Dec 16:22
    • Canadian steel service center inventories fall
    • Houston, 15 December (Argus) — Canadian service center steel inventories fell in November by 5.4pc from the prior month while seasonally adjusted shipments fell by 0.4pc, according to data compiled by the Metals Service Center Institute. Seasonally adjusted inventories fell to 1.29mn n
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    • NEWS | 15 Dec 14:14
    • US FeSi imports rise in September
    • London, 15 December (Argus) — US imports of ferro-silicon totalled 22,700t in September, up by 15.8pc on the 19,600t imported in the same month last year, the latest data from the US Geological Survey (USGS) show. Despite the yearly rise, September's imports were down by 25pc from the 3
    • Read more
    • NEWS | 15 Dec 12:57
    • Project finance agreed for Mongolia mine
    • Johannesburg, 15 December (Argus) — Development of the Oyu Tolgoi underground copper-gold-molybdenum mine in Mongolia has taken a major step forward with the signing of a $4.4bn project finance agreement. Global resources giant Rio Tinto said the signing took place on Tuesday in Ulaanba
    • Read more
    • NEWS | 15 Dec 12:42
    • NioCorp signs funding deal for Elk Creek
    • Sao Paulo, 15 December (Argus) — US junior mining firm NioCorp said a funding deal with institutional investors worth up to $10.5mn is an important step in developing the Elk Creek niobium project in Nebraska. NioCorp has signed a staged agreement with an organisation managed by The Lin
    • Read more
    • COMMENTARY | 15 Dec 12:31
    • LME moly: Rises in line with physical sector
    • London, 15 December (Argus) — London Metal Exchange (LME) cash molybdenum has moved higher, settling at a cash price of $11,000/11,500/t on 14 December, up from $10,000/10,500/t a week before. This reflects an increase in physical prices where production cuts have influenced spot prices
    • Read more
    • NEWS | 14 Dec 23:25
    • US service center aluminum stocks drop
    • Houston, 14 December (Argus) — US service center aluminum inventories fell by 2pc in November to 391,300t from 399,300t a year earlier, representing a seasonally adjusted 3.1 months of supply. Seasonally adjusted shipments of aluminum from service centers fell by 7.1pc to 125,500t in No
    • Read more
    • NEWS | 14 Dec 23:22
    • Service center steel inventories fall in US
    • Houston, 14 December (Argus) — US service center inventories for steel fell in November by 4.2pc from the prior month while seasonally adjusted shipments fell by 1.5pc, according to the Metals Service Center Institute. Total steel products seasonally adjusted inventories fell to 8.6mn
    • Read more
    • NEWS | 14 Dec 22:50
    • Century Aluminum idles one Mt. Holly potline
    • Houston, 14 December (Argus) — Century Aluminum has begun idling one of two potlines at its Mt. Holly smelter in Goosecreek, South Carolina and said it expects the process to be complete by tomorrow. The remaining potline will be taken offline by 26 December if the company cannot negoti
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    • NEWS | 14 Dec 21:46
    • US raw steel production edges lower
    • Houston, 14 December (Argus) — US raw steel production dropped by 1.1pc to 1.54mn net tons (1.39mn metric tonnes) in the week ended 12 December from 1.55mn nt the prior week, while capacity utilization decreased to 64.2pc in the latest week from 65.0pc a week earlier, the American Iron a
    • Read more
    • NEWS | 14 Dec 21:10
    • Stainless steel service center stocks fall
    • Houston, 14 December (Argus) — US service center stainless steel inventories fell by 16.4pc to 428,000t in November from 502,100t a year earlier, representing a seasonally adjusted 2.8 month supply. Seasonally adjusted November stainless shipments from US service centers fell by 4.8pc t
    • Read more
    • NEWS | 14 Dec 19:02
    • Bloom Lake mine to be acquired by Champion Iron
    • London, 14 December (Argus) — Canadian iron ore mining company Champion Iron has agreed to acquire the Bloom Lake iron ore mine and related rail assets in Quebec from US mining group Cliffs Natural Resources. The 7mnt/yr Bloom Lake project, which was idled by Cliffs Resources in Novemb
    • Read more
    • NEWS | 14 Dec 18:46
    • Glen Eagle plans to merge Authier project
    • London, 14 December (Argus) — Canadian firm Glen Eagle Resources aims to maximise potential profits by merging its Authier lithium project holdings in Quebec with those of fellow Canadian firm RB Energy. The consolidation of the two projects would see a potential restart of Canada Lithi
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    • NEWS | 14 Dec 18:33
    • Nucor announces steel price increases
    • Houston, 14 December (Argus) — Nucor has become the latest steel producer to raise prices this month as mills make a push to trigger steel buying. In an email sent 11 December to its customers, Nucor said that the price per ton of hot rolled, cold rolled and galvanized steels will incr
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    • NEWS | 14 Dec 17:49
    • MMG lists on ASX, ships last Century zinc
    • London, 14 December (Argus) — Chinese state-controlled company MMG, the Hong Kong-listed arm of China's state-owned Minmetals, begun trading on the Australian Securities Exchange (ASX). The company issued Chess Depository Instruments, a type of security used by the ASX to allow foreign
    • Read more
    • NEWS | 14 Dec 17:26
    • Trafigura expects low metal prices next year
    • London, 14 December (Argus) — Switzerland-based trading firm Trafigura managed to navigate the choppy waters of declining metal and oil prices this year and increased net profit for the full year ended September 30 by 6pc to $1.103bn. Revenue declined by 23pc on the year to $97.2bn beca
    • Read more
    • NEWS | 14 Dec 17:07
    • Amur in investment deal for nickel project
    • London, 14 December (Argus) — Nickel-copper mining company Amur Minerals has entered into a subscription agreement with a subsidiary of Crede Capital Group, which will invest up to £12.5mn ($18.9mn) in the junior miner. The agreement, together with $6mn existing cash reserves, ensures t
    • Read more
    • NEWS | 14 Dec 15:08
    • Peru tungsten mine produces 12t in October
    • Sao Paulo, 14 December (Argus) — Peru's only commercial tungsten mine, owned by Minera Tungsteno, produced 12t in October compared with 4t in the same month a year earlier, data published by the country's mining ministry said. Tungsten output was down 1t or 7.7pc against the 13t produced
    • Read more
    • NEWS | 14 Dec 14:56
    • Peru cadmium output down in October
    • Sao Paulo, 14 December (Argus) — Peru's cadmium production was 66t in October - a 6t or 8.3pc decrease on the 72t in the same month a year earlier, but up 6.5pc on September output of 62t. For the first ten months of 2015 production was up 2.2pc at 644t from 630t in the same period last
    • Read more
    • NEWS | 14 Dec 13:18
    • High value RE ore discovered in Tanzania
    • Beijing, 14 December (Argus) — Tanzania has made a new high-value rare earth (RE) ore discovery on the edge of the Great Rift Valley that runs from Tanzania in the south to Ethiopia in the north, according to the economic and commercial counsellor's office of the Chinese embassy in Tanza
    • Read more
    • NEWS | 14 Dec 07:55
    • Yabulu issues pressure New Caledonia nickel supply
    • Sydney, 14 December (Argus) — Doubts over the financial strength of the Yabulu nickel refinery in northern Queensland are adding to pressure on nickel ore supplies from New Caledonia, which is one of the largest suppliers to the plant. Yabulu's owner Australian entrepreneur Clive Palme
    • Read more
    • COMMENTARY | 12 Dec 00:13
    • Aluminum extrusion scrap in mixed market
    • Houston, 12 December (Argus) — Aluminum extrusion scrap price spreads widened this week for most grades as buyers kept outright prices unchanged from a week earlier despite an uptick in exchange prices. Spreads calculated off the midwest transaction price on extrusion grades like 6063 b
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    • NEWS | 11 Dec 23:28
    • Aluminium lower, copper rallies on production cut
    • London, 11 December (Argus) — London Metal Exchange (LME) aluminium traded slightly lower this week despite a decision by major Chinese aluminium smelters designed to curtail overcapacity while copper rallied on production cuts from Freeport McMoRan. Aluminium settled at $1,495.50/t on
    • Read more
    • NEWS | 11 Dec 23:26
    • VanadiumCorp signs MOU with battery maker
    • London, 11 December (Argus) — North American mining firm VanadiumCorp has signed a memorandum of understanding (MOU) with a leading North American vanadium flow battery manufacturer. Vanadium flow batteries are an emerging technology for energy storage – specifically for energy generate
    • Read more
    • NEWS | 11 Dec 23:24
    • LME lead rallies, nickel and tin trade lower
    • London, 11 December (Argus) — London Metal Exchange (LME) lead rallied this week and is trading at a premium of almost $200/t over zinc while nickel, zinc and tin prices declined. Speculative traders were far less active in zinc and nickel than over the last few weeks as a long stretch
    • Read more
    • NEWS | 11 Dec 22:39
    • This Week in Metals: 7-11 December
    • Houston, 11 December (Argus) This was the week that big mining companies battened down the hatches, one by one, and acknowledged the need to shed loss-making capacity and assets to stay afloat in the rough seas of the commodity markets. As London Metal Exchange (LME) nickel dipped to a new
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    • NEWS | 11 Dec 22:05
    • Jaguar plans two aluminum intensive cars for 2016
    • Houston, 11 December (Argus) — British automaker Jaguar will increase the aluminum use in its 2016 sports utility vehicle to 75pc of its total metal content, from a company average of 50pc in its other vehicles. One of Jaguar's latest cars, the F-PACE sport utility vehicle, will featur
    • Read more
    • NEWS | 11 Dec 21:31
    • Matrix Metals to close Iowa casting facility
    • Houston, 11 December (Argus) — Matrix Metals will permanently close its Keokuk steel castings facility in Iowa early next year because of weak demand from the oil sector. Employees at the facility are being laid off, but the possibility that some of them may be moved to other Matrix fac
    • Read more
    • NEWS | 11 Dec 20:41
    • Aurubis sees “uncertainties” in new year
    • Aurubis sees "uncertainties" in new year Houston, 11 December (Argus) — Copper producer Aurubis Group forecast its business activities will continue to be affected by economic and market uncertainties in the new fiscal year and it expects earnings and return on capital to weaken. Aurubis
    • Read more
    • COMMENTARY | 11 Dec 20:35
    • US zinc premiums soften
    • Houston, 11 December (Argus) — US zinc premiums weakened this week because of a surplus of material and weak seasonal demand, which is expected to remain lackluster into the new year. Zinc premiums traded at 7-7.5¢/lb delivered, from a range of 7-7.75¢/lb a week earlier. Market partic
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    • NEWS | 11 Dec 19:51
    • US finds injury caused by imports of welded pipe
    • Houston, 11 December (Argus) — The United States International Trade commission (USITC) today determined that imports of circular welded carbon-quality steel pipe from four countries have caused material injury to US steel producers. Four US pipe and tube producers filed antidumping and
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    • NEWS | 11 Dec 19:38
    • Granite City to halt steel output this month
    • Houston, 11 December (Argus) — US Steel will shut down its steel operations at its Granite City Works plant in Illinois by 21 December, a union source said. The company said in October that it might temporarily idle its operations at the facility and lay off its 2,000 employees in respo
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    • COMMENTARY | 11 Dec 19:20
    • Copper cathode premiums weaken as demand slips
    • Houston, 11 December (Argus) — US copper cathode premiums fell this week on lower demand and plentiful supply. Copper cathode premiums fell to a 4-6¢/lb range over the most actively traded contract, for March delivery, on the Comex. Premiums softened from a prior week range of 5-6¢/lb.
    • Read more
    • NEWS | 11 Dec 18:15
    • Scrap freight rates remain low on oversupply
    • London, 11 December (Argus) — Freight rates for ferrous scrap continue to remain low towards the end of the year, as severe oversupply of tonnage has prevented a recovery for rates across the Atlantic and Pacific basins, a number of shipbrokers said this week. Shipbrokers said that rat
    • Read more
    • NEWS | 11 Dec 13:59
    • Indonesian tin exports drop on new regulation
    • London, 11 December (Argus) — Indonesia's refined tin exports are expected to fall below 70,000 t/yr for the first time since 2003 as new export rules require producers to show the origin of raw materials slow down exports in November and December. Based on pre-shipment checks made by s
    • Read more
    • NEWS | 10 Dec 23:19
    • Chicago dealers scramble for Pure Metal clients
    • Houston, 10 December (Argus) — Chicago area scrap dealers are in a race to secure new industrial accounts made available through a sudden and complete shutdown of the city's largest scrap company. Chicago-based Pure Metal Recycling, formerly Acme Refining, closed all its facilities and
    • Read more
    • NEWS | 10 Dec 23:10
    • US lawmakers poised to pass trade legislation
    • Houston, 10 December (Argus) — US lawmakers have reached a trade deal that will enhance US customs enforcement for steel imports, the Steel Manufacturers Association (SMA) said today. Provisions from the Enforcing Orders and Reducing Customs Evasion (ENFORCE) Act are included in the tr
    • Read more
    • NEWS | 10 Dec 22:44
    • GM's $171mn midwest spend to drive metal demand
    • Houston, 10 December (Argus) — General Motors will invest a total of $171.4mn in upgrades at two separate engine manufacturing facilities in Kentucky and Indiana as it ramps up production of aluminum engine blocks. The company will spend $44mn to increase the output of the Performance B
    • Read more
    • NEWS | 10 Dec 22:33
    • ATI to idle two facilities next year
    • Houston, 10 December (Argus) — US specialty metals producer Allegheny Technologies (ATI) will idle two facilities due to challenging market conditions for stainless steel products and aggressive pricing in the electrical energy distribution market, the company said today. The company wi
    • Read more
    • NEWS | 10 Dec 22:28
    • Auto aluminum venture to be built in Carolinas
    • Houston, 10 December (Argus) — Canadian manufacturer Linamar is looking at potential locations in Blythewood, South Carolina and Asheville, North Carolina, to build an automotive plant and aluminum foundry. The venture is jointly owned by the automotive division of Swiss manufacturer Geo
    • Read more
    • NEWS | 10 Dec 21:54
    • Workers end walkout at Nexteer
    • Houston, 10 December (Argus) — Striking members of the United Auto Workers (UAW) union returned to work late yesterday after a one-day walkout at a facility operated by autoparts maker Nexteer. UAW said that it had reached a "tentative agreement" with Michgan-based Nexteer. Local UAW c
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    • NEWS | 10 Dec 21:48
    • Klockner takes charge on America operations
    • Houston, 10 December (Argus) — German steel producer Klockner has written down €270mn ($295mn) in goodwill for its North American activities because of worsening metal markets, the company said today. The company's shipments in the Americas have fallen by 3.8pc in the first nine months
    • Read more
    • NEWS | 10 Dec 21:37
    • Northwest Pipe to idle Kansas tubular mill
    • Houston, 10 December (Argus) — Washington state-based Northwest Pipe plans to idle its Kansas energy tubular steel plant in coming weeks as cheaply priced imports of those products have hurt its sales. Northwest Pipe's Atchison, Kansas, mill has 325,000 nt/yr tubular capacity and was pr
    • Read more
    • NEWS | 10 Dec 18:06
    • US hikes duties on Chinese aluminum extruders
    • Houston, 10 December (Argus) — The Commerce Department has increased countervailing duties on 46 Chinese companies producing aluminum extrusions during its final review, after hiking antidumping duties for ten extruders from the country last week. All ten extruders named last week had c
    • Read more
    • NEWS | 10 Dec 17:42
    • Nucor fails to halt Big River Steel mill
    • Houston, 10 December (Argus) — An Arkansas court of appeals again rejected a challenge by Nucor to an air permit granted to a steel mill Big River Steel is building. The mill, which is under construction in eastern Arkansas, will have a planned capacity of 1.6mn net tons/yr and will be
    • Read more
    • NEWS | 10 Dec 15:19
    • Norilsk eyes first new cobalt output within days
    • London, 10 December (Argus) — Russian nickel mining company Norilsk Nickel's Kola subsidiary has finished developing a technology for the industrial production of high grade cobalt. The company expects to have the first batch of the metal within days. Norilsk said that developing cobalt
    • Read more
    • NEWS | 10 Dec 12:26
    • Glencore reviewing nickel, alumina assets
    • Johannesburg, 10 December (Argus) — Diversified resources group Glencore is reviewing its Minara Resources nickel-cobalt subsidiary in Western Australia and its Sherwin Alumina business in the US as part of its ongoing focus on only running cash positive assets. Chief executive Ivan Gla
    • Read more
    • NEWS | 09 Dec 23:41
    • Court invalidates ArcelorMittal's patent claim
    • Houston, 9 December (Argus) — A US District Court in Delaware invalidated a patent suit filed by global steelmaker ArcelorMittal for the third time in five years. The ruling was part of ongoing litigation that began in 2010, when ArcelorMittal alleged that AK Steel, along with two other
    • Read more
    • NEWS | 09 Dec 23:24
    • Government approves Waste Management purchase
    • Houston, 9 December (Argus) — National recycler Waste Management is expected to complete its acquisition of Florida-based Southern Waste Systems "in the next few weeks" after the Department of Justice assured the company on 1 December that it does not see any antitrust issues with the tr
    • Read more
    • NEWS | 09 Dec 23:18
    • US mills begin to raise flat steel prices: update
    • Update Houston, 9 December (Argus) US steel mills have begun to raise their flat rolled steel prices after months of decline, possibly pointing to the beginnings of a recovery in market steel prices. Ohio-based AK Steel said today it is increasing spot market base prices for all carbon f
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    • NEWS | 09 Dec 23:18
    • US mills begin to raise flat steel prices:
    • Update Houston, 9 December (Argus) — US steel mills have begun to raise their flat rolled steel prices after months of decline, possibly pointing to the beginnings of a recovery in market steel prices. Ohio-based AK Steel said today it is increasing spot market base prices for all ca
    • Read more
    • NEWS | 09 Dec 22:29
    • US steel mill shipments rise in October
    • Houston, 9 December (Argus) — US steel mill shipments rose by 3.5pc to 7.4mn net tons (6.7mn metric tonnes) in October from 7.1mn nt the prior month, the American Iron and Steel Institute said today. October shipments declined by 13.4pc from the 8.5mn nt shipped in the same month a year
    • Read more
    • NEWS | 09 Dec 20:43
    • US steel imports decline in November
    • Houston, 9 December (Argus) — Applications for US steel imports fell by 24pc in November from the prior month, partly reflecting decreased shipments from South Korea and Turkey. Applications totaled 2.6mn net tons (2.4mn metric tonnes) in November, compared with 3.5mn permit tons record
    • Read more
    • NEWS | 09 Dec 20:18
    • Canada finds India, Russia dumping steel
    • Houston, 9 December (Argus) — Canada ruled that hot-rolled carbon steel plate and high-strength low-alloy steel plate from Russia and India is entering the country at less than fair value and that the same imports are benefiting from subsidies in India. Canada's Border Service Agency (C
    • Read more
    • NEWS | 09 Dec 19:59
    • US mills begin to raise flat steel prices
    • Update Houston, 9 December (Argus) — US steel mills have begun to raise their flat rolled steel prices after months of decline, possibly pointing to the beginnings of a recovery in market steel prices. Ohio-based AK Steel said today it is increasing spot market base prices for all ca
    • Read more
    • NEWS | 09 Dec 19:21
    • SMW secures three-year conflict-free certification
    • London, 9 December (Argus) — Russian magnesium-titanium, tantalum-niobium and rare earths processor Solikamsk Magnesium Works has been certified as a conflict free smelter for three years. The Conflict Free Smelter Initiative (CFSI) Audit Review Committee for Areas of Conflict extended
    • Read more
    • NEWS | 09 Dec 18:57
    • North Atlantic Iron eyes pig iron plant site
    • Houston, 9 December (Argus) — North Atlantic Iron Company (NAIC) is considering Ohio and eastern Canada as possible locations for a $300mn new pig iron plant. NAIC, partly owned by Halifax-based Muskrat Minerals, Grand River Ironsands (GRI) and Petmin, expects the plant to produce pig i
    • Read more
    • NEWS | 09 Dec 18:56
    • US ferro-vanadium consumption falls
    • New York, 9 December (Argus) — US consumption of ferro-vanadium fell 10.6pc in September compared with the year earlier period as the industry was slow to return following the summer and amid a fall in volumes in the US steel industry, said new data from US Geological Survey (USGS). Fer
    • Read more
    • NEWS | 09 Dec 18:46
    • China to lower billet export tariff
    • London, 9 December (Argus) — China will lower the existing 25pc export tariff on semi-finished steel products to 20pc from 1 January. But the measure is unlikely to affect billet export volumes unless the government adjusts the existing export value-added tax (VAT) rebate system. With t
    • Read more
    • NEWS | 09 Dec 18:26
    • Decline in US brass imports outstrips export drop
    • Houston, 9 December (Argus) — US imports of brass products fell nearly six times as fast as exports in October from the same month a year earlier. Imports of brass products fell by 20pc to 36.8mn lbs in October from the same month a year earlier, the Copper Brass Fabricators Council s
    • Read more
    • NEWS | 09 Dec 18:17
    • US antimony imports fall in 3Q
    • New York, 9 December (Argus) — US antimony imports fell 13.7pc in the third quarter this year compared with the same period in 2014, but were up 10.8pc on the second quarter, said new data from US Geological Survey (USGS). Antimony imports for consumption were 5,970t in the third quarte
    • Read more
    • NEWS | 09 Dec 17:33
    • Dynacast to acquire Tek-Cast/MH
    • Houston, 9 December (Argus) — North Carolina-based precision metal components maker Dynacast has agreed to acquire Tek-Cast/MH Machining Group in a transaction that will expand Dynacast's multi-slide zinc and aluminum capacity and CNC machining depth in North America. "This acquisition
    • Read more
    • NEWS | 09 Dec 17:19
    • Amur Minerals in talks with investor
    • London, 9 December (Argus) — UK-listed mining firm Amur Minerals, which is developing the nickel-copper sulphide mineral deposits in far-eastern Russia, is in discussions with a potential investor, the company said. This could result in the unnamed partner making a cash investment of up
    • Read more
    • NEWS | 09 Dec 16:57
    • Freeport-McMoRan cuts metals output, oil spending
    • Houston, 9 December (Argus) — Diversified miner Freeport-McMoRan plans to make additional curtailments to its copper and molybdenum production and reduce its oil and gas capital spending plans in reaction to weak market conditions. The Arizona-based company is planning to completely shu
    • Read more
    • NEWS | 09 Dec 16:31
    • Eramet quashes talk of Mn alloys output cuts
    • London, 9 December (Argus) — French mining group Eramet has no plans to cut its manganese alloys production in the near term, despite historically low prices and production cuts by other alloy producers. A spokesman for the company said it is continuing with its alloys production for th
    • Read more
    • NEWS | 09 Dec 16:14
    • Ambatovy on track to up nickel and cobalt output
    • Johannesburg, 9 December (Argus) — The Ambatovy Joint Venture in Madagascar increased its nickel output in November, but experienced a slight drop in cobalt output. The venture is on track to eclipse 2014's annual output of both metals by the end of December. Canadian-based Sherritt Int
    • Read more
    • NEWS | 09 Dec 15:28
    • US sets antidumping duties on Chinese copper pipe
    • Houston, 9 December (Argus) — The US Department of Commerce intends to levy antidumping duties of 5.89pc on imports of seamless refined copper pipe and tube from 11 Chinese companies it found sold the goods at lower than fair value. The Commerce Department, in its administrative review
    • Read more
    • NEWS | 09 Dec 13:35
    • China rolls over metals, ferro-alloys tariffs
    • Beijing, 9 December (Argus) — The Chinese government has rolled over its export and import tariffs on metals, ferro-alloys and their ores and concentrates for 2016. But the government will introduce a 30pc export tariff on lithium from 1 January. Global lithium battery use is expected
    • Read more
    • NEWS | 09 Dec 12:00
    • Fesil shuts half of its ferro-silicon production
    • London, 9 December (Argus) — Norwegian ferro-silicon producer Fesil has stopped production at one of its two furnaces and plans to have it out of action until the middle of next month. Fesil's furnaces each have a capacity of 40,000 t/yr of ferro-silicon and 23,000 t/yr of microsilica.
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    • NEWS | 09 Dec 11:39
    • China Metallurgical Group and Minmetals to merge
    • Beijing, 9 December (Argus) — The Chinese government has approved the merger of China Metallurgical Group and Minmetals, both large state-owned companies in the metallurgical industry. China Metallurgical Group will become a subsidiary of Minmetals on completion of the merger, which wi
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    • NEWS | 08 Dec 22:53
    • Nexteer Automotive workers strike
    • Houston, 8 December (Argus) — Members of the United Auto Workers (UAW) union employed at Nexteer Automotive's complex in Michigan went on strike today to press for improved benefits and wages. Local UAW chapter 699 told its roughly 3,350 members that workers at the complex were to "leav
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    • NEWS | 08 Dec 21:15
    • Lundin Gold plans to develop Ecuador mine
    • Quito, 8 December (Argus) — Vancouver-based Lundin Gold plans to start work on the underground Fruta Del Norte (FDN) gold mine in southern Ecuador in January 2017, with first production set for late in 2019, according to the company's chief executive. The construction of the underground
    • Read more
    • NEWS | 08 Dec 19:30
    • Turkish steel exports edge up in November
    • London, 8 December (Argus) — Turkish steel exports rose by 0.5pc year on year to 1.2mn t in November, but the value of these exports dropped by almost 26pc thanks to the global deterioration of steel prices, the Turkish Steel Exporters Association (CIB) said today. Despite the slight ye
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    • NEWS | 08 Dec 18:30
    • US confronts China on aircraft tax exemptions
    • Houston, 8 December (Argus) — The US has requested consultations with China through the World Trade Organization (WTO) because the country is allegedly exempting certain domestically produced aircraft from a 17pc value added tax that it is levying on imported aircraft, the office of the
    • Read more
    • NEWS | 08 Dec 18:29
    • US Antimony reports higher sales
    • London, 8 December (Argus) — Montana-based mining and processing firm US Antimony (USAC) reported a rise in antimony production to 472,756lb (214t) contained in metal and oxide in October and November 2015, compared with 425,351/b (193t) produced in the fourth quarter of last year. At t
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    • NEWS | 08 Dec 17:24
    • Anglo American cuts 2016 iron ore guidance
    • London, 8 December (Argus) — UK-based mining group Anglo American has cut its iron ore production guidance for 2016 to 57mn-60mn t from up to 75mn t, as part of a wider restructuring announced today. The main reduction resulted from a cut in production guidance for Anglo American's larg
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    • NEWS | 08 Dec 17:05
    • US military reports no sales of metal in November
    • New York, 8 December (Argus) — The US defence department's procurement arm, the Defense Logistics Agency (DLA), reported no metal sales from its stockpile in November. The agency had offered a total of around 3.57mn lbs of low carbon ferro-chrome for sale last month. The DLA sold 306 s
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    • NEWS | 08 Dec 16:53
    • China rare earth exports rise in November
    • Beijing, 8 December (Argus) — China's rare earth exports rose by almost a quarter in November compared with a year earlier China exported 3,241t of rare earths in November, up by 22.6pc compared with the same month last year, according to official customs data. Export revenues totalled
    • Read more
    • NEWS | 08 Dec 16:01
    • MMG expects first Las Bambas copper in 1Q
    • London, 8 December (Argus) — Chinese state-controlled mining company MMG, which is developing the Las Bambas copper project in Peru, said commissioning continues on track with shipment of copper concentrate to customers due to start in the first quarter of 2016. MMG is the Hong Kong-lis
    • Read more
    • NEWS | 08 Dec 14:39
    • Rio Tinto plans aluminium output increase
    • London, 8 December (Argus) — Anglo-Australian mining company Rio Tinto plans to increase production of primary aluminium by 10pc to 3.6mn t next year, its output of alumina by 3pc to 8mn t and its bauxite output by 4pc to 45mn t. Rio said that its recently announced Amrun project in Aus
    • Read more
    • COMMENTARY | 08 Dec 12:56
    • LME cobalt: Tracks lower physical prices
    • London, 8 December (Argus) — London Metal Exchange (LME) cobalt cash price has dropped in the past few days, tracking a lower physical market where producers are offering more metal on the spot market amid book-squaring ahead of next year. LME cobalt cash price was settled at $23,500/24
    • Read more
    • NEWS | 08 Dec 12:08
    • Anglo American eyes restructuring measures
    • Johannesburg, 8 December (Argus) — Global resources group Anglo American plans to restructure into three businesses, focusing on industrial metals, bulk commodities and diamonds. And it has reconfirmed its intention to sell its Brazilian niobium and phosphates units next year. The grou
    • Read more
    • NEWS | 07 Dec 20:59
    • SMS poised to service Pure Metal Recycling clients
    • Houston, 7 December (Argus) — Chicago-based Pure Metal Recycling appears to have reached an agreement today with an investment group formed by Thunderbird and Metals Asset Management to provide "uninterrupted service" to its customers through Scrap Metal Services. According to a copy of
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    • NEWS | 07 Dec 20:15
    • US raw steel output increases
    • Houston, 7 December (Argus) — US raw steel production rose by 4.4pc to 1.55mn net tons (1.41mn metric tonnes) in the week ended 5 December from 1.49mn nt the prior week, while capacity utilization rose to 65pc in the latest week from 62.2pc a week earlier, the American Iron and Steel Ins
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    • NEWS | 07 Dec 19:15
    • Norsk Hydro initiates cost cuts amid oversupply
    • Washington, 7 December (Argus) — Norwegian aluminium company Norsk Hydro plans to cut costs by 2.9bn kroner ($334.45mn) by 2019 to better position itself on the aluminium cost curve amid current weak pricing. Norsk Hydro said that by the end of this year it will have reduced costs by 4.
    • Read more
    • NEWS | 07 Dec 18:58
    • Industrial overcapacity remains focus for China
    • London, 7 December (Argus) — Chinese prime minister Li Keqiang has reiterated China's commitment to addressing industrial overcapacity. "Firmer resolve and greater efforts" are needed to address the issue he said in a speech in Beijing on 3 December. "From next year, we should be determ
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    • NEWS | 07 Dec 18:42
    • Nyrstar gives Talvivaara agreement to Terraframe
    • London, 7 December (Argus) — Belgian zinc and minor metals producer Nyrstar has signed over its streaming agreement for zinc concentrate from bankrupt Finnish nickel producer Talvivaara Sotkamo to Finnish state-owned firm Terrafame, which now runs the Sotkamo mine. Nyrstar has assigned
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    • NEWS | 07 Dec 17:20
    • US scrap exports fall in October
    • Houston, 7 December (Argus) — Ferrous scrap exports from the US dropped by 32.3pc in October from a year earlier reflecting weak demand from Turkey, South Korea, and Taiwan. Commerce Department data showed ferrous scrap exports decreased to 837,896t in October from 1.24mn t in the same
    • Read more
    • NEWS | 07 Dec 16:55
    • Transalloys to cut silico-manganese output
    • London, 7 December (Argus) — South African manganese alloys firm Transalloys will cut as much as 80pc of its silico-manganese production next year because of "unfavourable market conditions". The firm is a wholly-owned subsidiary of Russia's Renova and has the capacity to produce 180,00
    • Read more
    • NEWS | 07 Dec 16:38
    • Pure Metal Recycling closes all facilities
    • Houston, 7 December (Argus) — Chicago-based Pure Metal Recycling issued a layoff notice to employees at all of its facilities on 4 December, effective immediately. The company, which was called Acme Refining until 2014, will "cease all production and terminate the operations" at three f
    • Read more
    • NEWS | 07 Dec 12:46
    • First Indian company escapes US AD duty on SiMn
    • Mumbai, 7 December (Argus) — Indian ferro-alloy producer Nava Bharat Ventures has won an appeal to withdraw anti-dumping duty on its silico-manganese exports to the US, making it the only Indian company exempt from such duty. The company resumed silico-manganese exports to the US in Mar
    • Read more
    • NEWS | 07 Dec 11:55
    • LME approves Norilsk Nickel copper for delivery
    • London, 7 December (Argus) — The London Metal Exchange (LME) has added copper produced by Russian nickel producer Norilsk Nickel to its list of brands approved for delivery. The exchange already lists four brands of nickel produced by the company: Norilsk Combine H-1, Norilsk Combine H-
    • Read more
    • NEWS | 07 Dec 11:47
    • Nyrstar closes Middle Tennessee zinc mines
    • London, 7 December (Argus) — Belgian zinc, lead and minor metal producer Nyrstar has placed its Middle Tennessee Mines (MTN) on care and maintenance which will result in about 50,000t of zinc in concentrate being taken out of the market. Middle Tennessee consists of three mines and one
    • Read more
    • NEWS | 05 Dec 01:19
    • US ferrous scrap prices strengthen in late trading
    • Houston, 5 December (Argus) — Cut grade and shredded scrap prices in some pockets of the midwest, southeast and Ohio valley increased late this week as mills with strong demand met resistance from suppliers and were forced to compete with some buyers willing to pay a little more to secur
    • Read more
    • NEWS | 05 Dec 00:28
    • Brazil, Japan may face retroactive steel duties
    • Houston, 5 December (Argus) — The US Commerce Department today determined that "critical circumstances exist" to consider imposing retroactive duties on hot-rolled products from Japan and Brazil. As a result of the determination, the Commerce Department may retroactively impose antidump
    • Read more
    • COMMENTARY | 04 Dec 23:38
    • This Week in Metals: 30 November-4 December
    • Houston, 4 December (Argus) — A strong US employment report for the month of November heightens the odds the Federal Reserve will begin to raise its benchmark lending rate at its next meeting this month, a sign that prices of dollar-denominated commodities including metals will remain un
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    • COMMENTARY | 04 Dec 22:28
    • UBC spreads tighten on growing demand
    • Houston, 4 December (Argus) — Aluminum used beverage can price spreads tightened by a penny this week on growing demand and concerns of supply. Large consumers have begun placing orders for January delivery as inventories for December have filled up or close to reaching this month's tar
    • Read more
    • NEWS | 04 Dec 22:25
    • US scrap aluminum export prices fall
    • Houston, 4 December (Argus) — US aluminum scrap export prices dropped this past week as China has nearly pulled out of the secondary market. Nonferrous shredded scrap prices for zorba, 94pc metallic with 3-4pc red metal content, were 46-48¢/lb cif China, down from 51-52¢/lb in the prior
    • Read more
    • COMMENTARY | 04 Dec 21:48
    • US stainless steel scrap gains
    • Houston, 4 December (Argus) — US processor buying prices for 304 stainless steel scrap increased this week, reflecting a similar increase in nickel prices after Chinese producers announced cutbacks. US processor buying prices for 304 (18-8) stainless steel scrap solids rose by nearly 3p
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    • NEWS | 04 Dec 21:34
    • Cliffs lawsuit against Essar Algoma dismissed
    • Houston, 4 December (Argus) — An Ohio court has dismissed without prejudice a $90mn lawsuit filed by Cliffs Natural Resources against Essar Steel Algoma. US-based iron ore producer Cliffs Natural Resources (Cliffs) filed the suit in January alleging that Essar Steel Algoma violated the
    • Read more
    • NEWS | 04 Dec 20:10
    • Brass ingot prices fall in US
    • Houston, 4 December (Argus) US brass and bronze ingot prices dropped this week as terminal market copper prices continued to fall amid further strengthening of the dollar and slowing exports in what market participants described as a buyers market. Selling prices for C83600 ingots were $2.
    • Read more
    • NEWS | 04 Dec 20:01
    • LME copper, aluminum up on curtailment plans
    • London, 4 December (Argus) — London Metal Exchange (LME) copper futures closed the week higher following a decision by Chinese producer to cut output next year while aluminum prices finished higher prompted by talk that a change in Chinese foreign trade policy on the metal may be in the
    • Read more
    • NEWS | 04 Dec 19:52
    • LME nickel, lead rally as zinc, tin trade lower
    • London, 4 December (Argus) — London Metal Exchange (LME) nickel and lead closed higher while zinc and tin prices declined during a week dominated by central bank decisions and statements, which in turn affected the dollar, the euro and equity markets. Some volatility came from the Europ
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    • NEWS | 04 Dec 19:19
    • Irepas forecasts lower global steel output
    • London, 4 December (Argus) — Global steel production is expected to decrease in the short term, as overcapacity and high exports from China lead to more mill closures, International Rebar Producers and Exporters Association (Irepas) said. "Some production reductions are observed in the
    • Read more
    • COMMENTARY | 04 Dec 19:13
    • WEEK IN REVIEW: Interest rate watch for metals
    • London, 4 December (Argus) — Central bank activity dominated metals markets this week as the Federal Reserve's Janet Yellen said that the US can sustain its first rate increase, which fed through into a more volatile dollar. Further pressure was added when the European Central Bank chan
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    • NEWS | 04 Dec 16:19
    • NS rejects CP offer, citing regulatory risks
    • Houston, 4 December (Argus) — Norfolk Southern (NS) rejected the unsolicited offer Canadian Pacific (CP) made last month for the eastern railroad because of regulatory risks and the lack of efficiency a combination would provide. The company does not believe the Surface Transportation B
    • Read more
    • NEWS | 04 Dec 15:10
    • US ferro-vanadium consumption falls
    • New York, 4 December (Argus) — US ferro-vanadium consumption fell by 7.7pc on the year in August, amid a slowdown in the US steel industry and seasonal factors, the latest data from the US Geological Survey (USGS) shows. Total ferro-vanadium consumption in the country stood at 229,000kg
    • Read more
    • NEWS | 04 Dec 14:10
    • New Brunswick approves Sisson minor metals project
    • London, 4 December (Argus) — The government of the Canadian province of New Brunswick has approved the environmental impact assessment (EIA) for domestic firm Northcliff Resources' Sisson tungsten-molybdenum project, despite opposition from local First Nations groups. The provincial go
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    • NEWS | 03 Dec 23:52
    • Mexico's Tyasa to build Castrip flat steel plant
    • Houston, 3 December (Argus) — Mexican steelmaker Talleres y Aceros SA (Tyasa) has placed orders for equipment and begun construction of a Castrip flat-rolled steel facility that will have capacity to produce 500,000 net tons (453,000 metric tonnes)/yr of high-strength sheet steel. The s
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    • NEWS | 03 Dec 23:48
    • Derichebourg to set up regional hub in Montreal
    • Houston, 3 December (Argus) — France-based Derichebourg Environment, a metals and waste recycler and processor, plans to set up its North American headquarters in Montreal, in a move that will generate 500 jobs over five years and help boost economic development in Canada's Quebec provin
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    • NEWS | 03 Dec 22:33
    • US targets French, Italian brass: Correction
    • Corrects end of review year in paragaph 3 Houston, 3 December (Argus) — The US Commerce Department proposes to levy antidumping duties on imports of brass sheet and strip from Italy and France using tougher guidelines included in the Trade Preferences Extension Act of 2015 signed into
    • Read more
    • NEWS | 03 Dec 21:00
    • US targets French, Italian brass for duties
    • Houston, 3 December (Argus) — The US Commerce Department proposes to levy antidumping duties on imports of brass sheet and strip from Italy and France using tougher guidelines included in the Trade Preferences Extension Act of 2015 signed into law in late June by President Barack Obama.
    • Read more
    • NEWS | 03 Dec 19:01
    • US increases duties on Chinese aluminum extrusions
    • Houston, 3 December (Argus) — The Commerce Department has increased antidumping duties on 10 Chinese aluminum extrusion exporters. Duties on 10 of 21 Chinese companies originally hit with duties in December 2014 have risen to 86.01pc from 32.79pc, the department said on 1 December in th
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    • COMMENTARY | 03 Dec 17:33
    • Nickel prices fall further
    • London, 3 December (Argus) — London Metal Exchange (LME) nickel prices continued to decline this week, falling to $8,810/t from $9,140/t last week amid a sell-off of other base metals. The market briefly turned quiet in the middle of the week as traders argued that nickel prices may h
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    • NEWS | 03 Dec 15:57
    • Lundin targets higher zinc output
    • London, 3 December (Argus) — Canada-listed copper, nickel and zinc miner Lundin Mining expects to produce a total of 241,000-255,000t of copper next year and almost the same amount in 2017 on improved output from its Candelaria mine in Chile. By 2018 Lundin's total annual output of copp
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    • COMMENTARY | 03 Dec 15:48
    • US SiMn: Nucor tender causes concern
    • London, 3 December (Argus) — US silico-manganese spot market is expected to drop after domestic steelmaker Nucor settles a big tender for shipment in 2016 in the next few weeks. US spot silico-manganese price have been at or below 39¢/lb over the past week, at an average last seen in Ma
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    • NEWS | 03 Dec 14:48
    • US ferro-molybdenum August demand, imports fall
    • London, 3 December (Argus) — US ferro-molybdenum consumption fell by 31pc on the year in August, amid a seasonal downturn, and imports continued to decline, the latest data from the US Geological Survey (USGS) show. Total ferro-molybdenum demand in the country stood at 250,000kg in Augu
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    • NEWS | 03 Dec 12:23
    • US ferro-chrome consumption falls in August
    • New York, 3 December (Argus) — US ferro-chrome consumption continued its decline in August, as the industry struggled to build traction through the sluggish summer months, according to figures from the US Geological Survey (USGS). US consumption of high and low-carbon ferro-chrome total
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    • NEWS | 03 Dec 03:18
    • Anemic supply sends Texas, southwest scrap higher
    • Houston, 3 December (Argus) Ferrous scrap prices in Colorado, Nebraska, Utah and Texas have traded at increases of $10-20 per gross ton this week for December deliveries due to supply concerns. Months of falling scrap prices sent dealer yard and shredder feed collection prices to 6-year low
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    • NEWS | 03 Dec 03:10
    • Chicago, Indiana mills push to keep scrap flat
    • Houston, 3 December (Argus) Midwest ferrous scrap prices for December deliveries are expected to trade at levels unchanged from the prior month as sales concluded into some mills in Chicago, Indiana and Detroit. Buyers and sellers that have concluded transactions this week said prices staye
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    • NEWS | 03 Dec 03:07
    • Ferrous prices hold in Montreal on healthy demand
    • Houston, 3 December (Argus) Ferrous scrap prices in Montreal have stayed flat for December delivery after the region s closest steel producers in the US completed negotiations at unchanged prices. For a few months until November, prices in Montreal trended well below neighboring values in O
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    • NEWS | 03 Dec 03:04
    • Uncertainty prevails in Ohio ferrous scrap market
    • Houston, 3 December (Argus) Steel producers in the Ohio valley have begun negotiations with scrap companies for December suppliers and most have bid at prices unchanged from November. Early indications are that prime scrap prices could stay steady or come under a little pressure, while shre
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    • NEWS | 03 Dec 03:02
    • Detroit ferrous prices steady as demand improves
    • Houston, 3 December (Argus) Ferrous scrap prices in Detroit for December deliveries have traded at levels unchanged from the prior month as tight supply of obsolete scrap and increased steel output in the region prevented an overhang of prime scrap from sending prices lower. Some producers
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    • NEWS | 03 Dec 02:59
    • Exports push Philadelphia scrap prices higher
    • Houston, 3 December (Argus) Ferrous scrap prices in Philadelphia increased for December deliveries after an uptick in November export sales pushed collection prices well above prior month domestic levels. Spot buying for December concluded today in the Philadelphia region and prices for shr
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    • NEWS | 02 Dec 19:15
    • Poppinga: Iron ore, steel to rebound in 2017
    • New York, 2 December (Argus) — Weakness in global iron ore and steel markets will not reverse until 2017 as a supply overhang is finally worked off, executive director of Brazilian miner Vale Peter Poppinga said Tuesday at an event in New York. "The big earthquake happened in 2015 and i
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    • NEWS | 02 Dec 18:56
    • Ford to upgrade Kentucky auto plant
    • Houston, 2 December (Argus) — Ford Motor will spend $1.3bn to upgrade its Louisville, Kentucky, truck factory to support its aluminum-bodied 2017 F-Series trucks. Facility improvements will include a new body shop and are expected to create 2,000 new jobs in the area, said the company y
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    • NEWS | 02 Dec 18:20
    • US firms ramp up solar installations
    • London, 2 December (Argus) — A report from US trade body the Solar Energy Industries Association (SEIA) said that an increasing amount of US businesses are making the switch to solar energy. Growth in the solar energy market has increased 183pc among top US-based companies in the past f
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    • NEWS | 02 Dec 12:04
    • LME Mo moves up in line with physical market
    • London, 2 December (Argus) — The London Metal Exchange (LME) molybdenum cash price has moved up in the past couple of weeks in line with the physical sector where Chinese state buying has been evident. The LME market settled at $10,300/10,800/t on Tuesday, 1 December, and has been mostl
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    • NEWS | 01 Dec 22:58
    • US vehicle sales slow from peak
    • Houston, 1 December (Argus) — US retail sales of light vehicles held near a record pace in November while ending a four-month period of consecutive gains. US light vehicle sales slowed in November to a seasonally adjusted annualized pace of 18.19mn units, down by 0.3pc from 18.24mn in O
    • Read more
    • NEWS | 01 Dec 19:05
    • US manufacturing sector contracts
    • New York, 1 December (Argus) — US manufacturing output contracted in November for the first time since November 2012 amid a sluggish global economy, while a strong US dollar continued to weigh on domestic manufacturers. The US-based Institute for Supply Management (ISM), which surveys m
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    • NEWS | 01 Dec 18:44
    • US Steel to change flat-rolled management
    • Houston, 1 December (Argus) — US Steel plans to change the structure of its North American flat-rolled steel segment after the top commercial officer for the segment retires at the end of the year. The North American flat-rolled segment realignment will include the transition of operati
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    • NEWS | 01 Dec 18:00
    • Reliance Steel acquires Tubular Steel
    • Houston, 1 December (Argus) — US metals service center Reliance Steel Aluminum will buy steel pipe, tubing, and bar products distributor and processor Tubular Steel. The transaction is expected to close in early 2016, but the terms of the acquisition were not provided. Reliance Steel
    • Read more
    • NEWS | 01 Dec 17:36
    • Brazil, Korea lead increase in US steel imports
    • Houston, 1 December (Argus) — US steel imports rose by 5.4pc to 3 million net tons (2.7mn metric tonnes) in October from September, led by an increase in imports from Brazil and South Korea. Imports from Brazil rose by 54pc to 576,000nt while imports from South Korea increased by 26.8pc
    • Read more
    • NEWS | 01 Dec 17:21
    • Molycorp seeks approval to seal Chapter 11 plan
    • New York, 1 December (Argus) — Troubled US rare earth miner and processor Molycorp is seeking court approval to keep elements of its Chapter 11 bankruptcy plan temporarily confidential. In a filing to the US bankruptcy court in the district of Delaware at the end of November, the embat
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    • NEWS | 01 Dec 16:01
    • Johnson Controls forecasts 2016 growth
    • Houston, 1 December (Argus) — Wisconsin-based Johnson Controls expects to post stronger sales in fiscal 2016, led by its power solutions and building efficiency segments, as it moves ahead on the planned spin-off of its automotive business. Johnson Controls, which offers energy products
    • Read more
    • NEWS | 01 Dec 13:18
    • BHP Billiton sees lower copper costs
    • Johannesburg, 1 December (Argus) — Diversified resources giant BHP Billiton plans to lower copper unit production costs to $1.08/lb in its 2016/17 financial year and grow its annual copper output to 1.7mn t. BHP Billiton's head of copper, Danny Malchuk, said this will support strong cas
    • Read more
    • NEWS | 01 Dec 13:10
    • Kaz produces first copper cathode from Aktogay
    • Moscow, 1 December (Argus) — London-listed Kazakhstan-focused copper mining firm Kaz Minerals today announced first copper cathode production from oxide ore at the Aktogay project in eastern Kazakhstan, one of its main new growth projects. The first oxide ore from the open pit mine was
    • Read more
    • NEWS | 01 Dec 00:22
    • Century Aluminum power proposal rejected
    • Houston, 1 December (Argus) — South Carolina electricity provider Santee Cooper rejected a Century Aluminum plan to purchase all of its power from an unnamed third-party provider and use Cooper's lines to transmit the power to the company's Mt. Holly smelter. Under a current agreement,
    • Read more
    • NEWS | 30 Nov 23:38
    • Thompson Creek's Mount Milligan output rises
    • Houston, 30 November (Argus) — Colorado-based copper producer Thompson Creek Metals' daily mill throughput at its Mount Milligan copper and gold mine in British Columbia, Canada, rose by 19pc in November compared with the average during the third quarter. Average daily mill throughput w
    • Read more
    • NEWS | 30 Nov 22:15
    • US Steel executive will retire
    • Houston, 30 November (Argus) — US Steel's vice president of industrial solutions Joe Scherrbaum will retire at the end of the year. Scherrbaum, who has been with the Pittsburgh-based steel producer for over 36 years, is currently the top commercial officer at the company's North America
    • Read more
    • NEWS | 30 Nov 20:51
    • US steel capacity use near 6-year low
    • Houston, 30 November (Argus) — US raw steel capacity utilization fell to a near six-year low as raw steel production fell to 1.49mn net tons (1.35mn metric tonnes) in the week ended 28 November from 1.56mn nt the prior week. Capacity utilization fell to 62.2pc in the latest week from 65
    • Read more
    • NEWS | 30 Nov 19:58
    • Steelworkers urge Allegheny Technologies to talk
    • Houston, 30 November (Argus) — The United Steelworkers (USW) union urged specialty steel producer Allegheny Technologies (ATI) to end a lockout at 12 US facilities and return to contract talks. "We remain prepared to return to bargaining and, when we do, the company needs to be prepared
    • Read more
    • NEWS | 30 Nov 18:25
    • Asarco employees to rally for new contract
    • Houston, 30 November (Argus) — Workers from Asarco's copper mines and processing facilities represented by eight international labor unions will rally for a fair contract at the company's headquarters in Tucson, Arizona, tomorrow. More than 2,000 hourly production and maintenance employ
    • Read more
    • NEWS | 30 Nov 17:09
    • Global manganese alloy output falls in September
    • London, 30 November (Argus) — World production of manganese alloys in September was down on the year and on the month, data from the International Manganese Institute show. Silico-manganese World silico-manganese production fell, on lower demand from steelmakers in China, the US and Me
    • Read more
    • NEWS | 30 Nov 16:08
    • Constellium taps ex-Novelis executive as advisor
    • Houston, 30 November (Argus) — Amsterdam-based aluminum producer Constellium today appointed Martha Brooks as a special advisor to its board of directors. The board also expects to nominate Brooks as a non-executive director at the company's annual meeting in June 2016, replacing Matthe
    • Read more
    • NEWS | 30 Nov 15:58
    • Avalon Rare Metals to delist from NYSE
    • London, 30 November (Argus) — Canadian mining firm Avalon Rare Metals plans to voluntarily delist from the New York Stock Exchange (NYSE) in December as a result of its low share price that would require a share consolidation to remain in compliance with exchange regulations. The decis
    • Read more
    • COMMENTARY | 27 Nov 18:22
    • LME copper, aluminium rally on talk of China probe
    • London, 27 November (Argus) — London Metal Exchange (LME) copper and aluminium prices rallied on Friday, with trading volumes surging amid talk of a potential probe by Chinese authorities of short-selling in domestic commodity markets. Aggressive short covering was seen on the Shanghai
    • Read more
    • NEWS | 27 Nov 10:35
    • Zambia will not nationalise copper mines
    • Johannesburg, 27 November (Argus) — The Zambian government does not intend to take over copper mines that are suspending operations and laying off workers due to the continuing low price of the metal. Zambian president Edgar Lungu said that while the government could run the mines, it h
    • Read more
    • NEWS | 27 Nov 05:22
    • Rio Tinto approves Amrun bauxite mine
    • Sydney, 27 November (Argus) — UK-Australian mining firm Rio Tinto has approved the development of the $1.9bn, 22.8mn t/yr Amrun bauxite mine on Cape York in northern Queensland. It will replace falling output from the depleting east Weipa mine and increase exports by about 10mn t/yr. Pr
    • Read more
    • NEWS | 26 Nov 19:02
    • Canada imposes anti-dumping duty on Chinese pipes
    • London, 26 November (Argus) — The Canada Border Services Agency (CBSA) has imposed provisional anti-dumping duties on imports of carbon and alloy steel line pipes originating in or exported from China. The duties will be applied to all relevant items that are released from customs as of
    • Read more
    • NEWS | 26 Nov 18:45
    • Tin market short of supply in 2015-16
    • London, 26 November (Argus) — The global tin market has been in deficit this year and this will extend into 2016, despite declining demand, according to the International Tin Research Institute (ITRI). Tin demand started contracting towards the end of last year but has accelerated in re
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    • NEWS | 26 Nov 12:41
    • US trucking volume rebounds in October
    • New York, 26 November (Argus) — US trucking volume increased by 1.9pc in October compared with a month earlier, having dropped in September from August, and was 2pc higher than in October last year, according to the latest figures from the American Trucking Association (ATA). The ATA ad
    • Read more
    • ANALYSIS | 26 Nov 00:09
    • US ferrous scrap poised for mixed December market
    • Houston, 26 November (Argus) — US ferrous scrap prices are expected to strengthen in Texas and Philadelphia and come under some pressure in the midwest and southeast as differing regional demand and supply balances appear poised to deliver differing price movements in December. Shredded
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    • NEWS | 25 Nov 22:21
    • Low volumes force scrapyard closures across US
    • Houston, 25 November (Argus) — Weak demand for metals and falling prices have hurt operating margins at scrapyards, causing 70-100 facilities owned by medium to large sized recyclers in the US to close since the beginning of the year. The closures have led to 1,200-1,500 worker layoffs
    • Read more
    • COMMENTARY | 25 Nov 22:12
    • This Week in Metals: 23-25 November
    • Houston, 25 November (Argus) — The dollar this week rose to nearly its highest level in more than a decade amid heightened geopolitical tensions and expectations the US Federal Reserve will begin raising its benchmark lending rate at its policy meeting next month. The stronger dollar we
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    • NEWS | 25 Nov 21:15
    • Primetals to supply Voestalpine briquetting plant
    • Houston, 25 November (Argus) — Primetals Technologies will supply a briquetting plant to Voestalpine's direct reduction plant currently under construction in Texas, the company said this week. Primetals Technologies, a joint venture of Japanese firm Mitsubishi and Germany's Siemens, wil
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    • NEWS | 25 Nov 21:03
    • US steel imports rise in October
    • US steel imports rise in October Houston, 25 November (Argus) — US imports of finished steel rose by 1.4pc in October from the previous month, the American Iron and Steel Institute said today, based on preliminary Census Bureau data. The US imported 2.26mn net tons (2.05mn metric tonnes)
    • Read more
    • NEWS | 25 Nov 20:55
    • Metalforming companies expect flat conditions
    • Houston, 25 November (Argus) — Executives at metalforming companies in North America forecast little change in business conditions in the next three months, according to the latest survey on business conditions from the Precision Metalforming Association (PMA). Twenty-one percent of sur
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    • NEWS | 25 Nov 19:58
    • US delays ruling on antidumping probe
    • Houston, 25 November (Argus) — The US Commerce Department postponed its preliminary determination on an antidumping investigation into certain cold-rolled steel flat products from Brazil, China, and five other countries until 23 February. The department determined that additional time i
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    • COMMENTARY | 25 Nov 19:32
    • Weak nickel prices send December surcharges lower
    • Houston, 25 November (Argus) — US stainless steel producers dropped nickel based surcharges for December shipments for the sixth successive month amid continued weakness in nickel, chrome, molybdenum and iron prices. North American Stainless, the largest stainless steel producer in the
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    • NEWS | 25 Nov 19:18
    • US copper cathode premiums soften for 2016
    • Houston, 25 November (Argus) — US copper cathode premiums for 2016 delivery contracts are poised to finish marginally below prices contracted for 2015 as negotiations draw to a close. Market participants said most consumers have completed contract negotiations for next year barring one
    • Read more
    • NEWS | 25 Nov 17:22
    • Khoemacau Copper updates Botswana resouces
    • Johannesburg, 25 November (Argus) — Gaborone-based Khoemacau Copper Mining's Zone 5 copper-silver project in Botswana has updated its resource to 100.3mn t of ore, grading 1.95pc copper and 20 g/t silver. US-based Cupric Canyon Capital, which wholly owns Khoemacau, said the measured, in
    • Read more
    • NEWS | 25 Nov 17:10
    • US aluminum producers may slash output: correction
    • Corrects volume in paragraph 6 Houston, 25 November (Argus) — US primary aluminum producers may be forced to shut down as much as 60pc of their capacity by early next year should Chinese production remain at current levels, Century Aluminum chief executive Michael Bless said today. H
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    • NEWS | 24 Nov 23:48
    • AK Steel promotes three executives
    • Houston, 24 November (Argus) — Ohio-based steel producer AK Steel will promote three new executives when chief executive James Wainscott steps down on 1 January. Jaime Vasquez will take over as vice president and chief financial officer. He will be replacing Roger Newport, who was recen
    • Read more
    • NEWS | 24 Nov 23:07
    • US, Canada buy less aluminum scrap in September
    • Houston, 24 November (Argus) — The US aluminum industry purchased 5.8pc less scrap in September than a year earlier, decreasing purchases to 761.6mn lbs from 808.1mn lbs. Aluminum recovered from scrap fell by 6.1pc to 761mn lbs in September in line with decreased purchases, the Aluminum
    • Read more
    • NEWS | 24 Nov 22:52
    • TMK's Americas pipe sales slump
    • Houston, 24 November (Argus) — US demand for oil country tubular goods (OCTG) will remain low into next year and a gradual recovery in the North American market is not expected until the second half of 2016, subject to oil price growth, increased drilling and inventory reduction, Russian
    • Read more
    • NEWS | 24 Nov 22:03
    • October aluminum production flat in US, Canada
    • Houston, 24 November (Argus) — North American primary aluminum production, excluding Mexico, increased by 0.1pc in October compared to the same month a year earlier. US and Canadian production increased to 376,959t in October, up from 376,585t from a year earlier, the Aluminum Associati
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    • NEWS | 24 Nov 20:54
    • Caledonian Alloys sues Solumet Metal & Powder
    • Caledonian Alloys sues Solumet Metal Powder Houston, 24 November (Argus) — US superalloy recycler Caledonian Alloys has filed suit against Solumet Metal Powder, alleging breach of contract and failure to fully repay a $1mn loan. North Carolina-based Caledonian Alloys alleges that Sol
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    • NEWS | 24 Nov 19:36
    • Nevada Sunrise applies for Neptune lithium permit
    • New York, 24 November (Argus) — Canada-based mineral exploration firm Nevada Sunrise Gold Corp has applied to the US Bureau of Land Management (BLM) for a drilling permit to explore for lithium brines on its Neptune property in Clayton Valley, Esmeralda County, Nevada. The Vancouver-bas
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    • NEWS | 24 Nov 19:16
    • Alcoa taps leaders for primary, value-add split
    • Houston, 24 November (Argus) — Primary aluminum producer Alcoa appointed executive vice president and global primary product manager Roy Harvey as chief executive of its planned upstream spinoff, effective the second half of 2016 when the two companies are expected to be fully separated.
    • Read more
    • NEWS | 24 Nov 18:16
    • Votorantim 3Q zinc revenues rise 32pc
    • London, 24 November (Argus) — Brazilian metals and industrial firm Votorantim Industrial said its third quarter net revenue from zinc and by-products increased by 32pc on the year to Brazilian real 1.803bn ($486.4mn). Aluminium revenues were up 34pc to R1.217bn ($328mn) while nickel rev
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    • NEWS | 24 Nov 17:27
    • Alcoa retracts Massena West idling plan
    • Houston, 24 November (Argus) — Primary aluminum producer Alcoa has agreed to keep its Massena West smelter online after receiving $38mn in business incentives from New York state to keep it operational. The company said in October that it would idle the smelter by the end of the first q
    • Read more
    • NEWS | 24 Nov 15:58
    • Constellium to build auto plant in the US
    • Houston, 24 November (Argus) — Amsterdam-based aluminum producer Constellium will start construction in early 2016 on a new automotive manufacturing plant in Bartow County, Georgia. The 84,000ft2 facility is expected to open in 2017 and will produce lightweight aluminum parts for North
    • Read more
    • NEWS | 24 Nov 15:05
    • NioCorp agrees $10.5mn investment deal
    • Sao Paulo, 24 November (Argus) — US niobium and minor metals miner NioCorp, which is aiming to develop the Elk Creek niobium project in Nebraska has reached agreement on the key points of a convertible equity investment of up to $10.5mn in the miner with a New York-based institutional fu
    • Read more
    • NEWS | 24 Nov 00:00
    • US Steel to idle Granite City plant
    • Houston, 24 November (Argus) — US Steel said today that it will temporarily idle its Granite City Works steelmaking and finishing operations in response to "challenging" market conditions. The idling of the Illinois plant "is a result of continued challenging global market conditions i
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    • NEWS | 23 Nov 21:36
    • Hedge fund takes 6.4pc stake in Alcoa
    • Washington, 23 November (Argus) — Hedge fund Elliott Management has taken a 6.4pc stake in Alcoa, calling the company "dramatically undervalued by the public market." News of the stake boosted investor confidence and lifted Alcoa's share price by 4.4pc on the day to $9.08. The hedge fun
    • Read more
    • NEWS | 23 Nov 20:27
    • US raw steel production drops
    • Houston, 23 November (Argus) — US raw steel production fell by 2.4pc to 1.56mn net tons (1.41mn metric tonnes) in the week ended 21 November from 1.6mn nt the prior week, while capacity utilization fell to 65.3pc in the latest week from 67pc a week earlier, the American Iron and Steel In
    • Read more
    • NEWS | 23 Nov 20:09
    • Latin American steel output falls
    • Houston, 23 November (Argus) — Production of finished steel in Latin America and the Caribbean fell by 4pc in the first nine months of this year compared with a year earlier. Finished steel output fell to 40.3mn t from the same period of last year, while output of raw steel declined by
    • Read more
    • NEWS | 23 Nov 19:40
    • US delays antidumping investigation
    • Houston, 23 November (Argus) — The US Commerce Department postponed its preliminary determination on an antidumping investigation into hot-rolled steel flat products imported from South Korea, Turkey and five other countries by a month and a half until 8 March. The postponement of the
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    • NEWS | 23 Nov 18:25
    • Almonty upbeat on tungsten market prospects
    • Sao Paulo, 23 November (Argus) — Canadian mining firm Almonty Industries expects tungsten prices to start rising in the near future after cutbacks by Chinese producers and a crackdown on illegal mining in China. Output cuts of 20pc by eight large Chinese producers this month came as Ch
    • Read more
    • ANALYSIS | 21 Nov 00:56
    • Volume drops hit US shredders as closures loom
    • Houston, 21 November (Argus) — US ferrous scrap dealers reported a 15-30pc drop in obsolete scrap collections this month from October, and inbounds are now estimated to have dropped by 50-70pc from typical November levels depending on location. Weak demand from mills, which sent prices
    • Read more
    • COMMENTARY | 20 Nov 23:24
    • This Week in Metals: 16-20 November
    • Houston, 20 November (Argus) — London Metal Exchange (LME) nickel fell through $9,000/t mid-week to trade at its lowest level in more than 12 years, well below prices traded at the end of 2008, the year of the financial crisis when the market lost roughly 57pc of its value over four mont
    • Read more
    • COMMENTARY | 20 Nov 22:58
    • US aluminum premiums rise with demand
    • Houston, 20 November (Argus) — US midwest premium prices for primary aluminum rose this week as demand for faster deliveries increased. Premiums increased to a range of 8.5-9.5¢/lb this week, up from 7.5-8.5c a week earlier, and marked the first significant movement in two weeks. Prem
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    • NEWS | 20 Nov 22:16
    • US scrap consumption down on weak production
    • Houston, 20 November (Argus) — US steel scrap consumption fell by 6.6pc in the first eight months of this year as steel producers continue to battle cheap steel imports. Steel producers consumed 32.6 million metric tonnes of scrap from January through August this year, from 34.9mn t in
    • Read more
    • NEWS | 20 Nov 19:02
    • Global pig iron output rebounds in October
    • London, 20 November (Argus) — Global pig iron production rose in October after touching a year-to-date low in September, as the EU and Brazil increased output, the World Steel Association said. Total global output reached 95.3mn t, up from 94.3mn t in the previous month. The increase wa
    • Read more
    • NEWS | 20 Nov 17:38
    • Global crude steel production slows in October
    • London, 20 November (Argus) — Global crude steel output declined by 3.1pc on the year in October to 133.64mn t, statistics from the World Steel Association show. China, the world's largest crude steel producer, cut production by 3.1pc to 66.124mn t in October, which represented a 49.48p
    • Read more
    • NEWS | 20 Nov 17:37
    • Vale’s Manitoba smelter closure delayed two years
    • Vale's Manitoba smelter closure delayed two years Houston, 20 November (Argus) — Brazilian ore and metals producer Vale has pushed out to 2018 plans to close its nickel smelting and refining operations in Canada's western Manitoba province from an earlier 2016 target under an agreement wi
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    • NEWS | 20 Nov 17:20
    • Turkey aims to ramp up export sheet sales
    • London, 20 November (Argus) — Strong consumption of steel sheet in Turkey this year has been a key driver of domestic flat steel producers' sales this year, but Turkish producers aim to increase their export sales next year as they look to become more competitive in export markets, Tayla
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    • NEWS | 20 Nov 17:08
    • Alcoa issues layoffs warnings at Ferndale smelter
    • Houston, 20 November (Argus) — Integrated aluminum producer Alcoa has issued layoff notices to workers at its Intalco smelter in Ferndale, Washington state, after the company said earlier in the month that it plans to take 503,000mt of primary aluminum capacity off-line starting in the f
    • Read more
    • NEWS | 20 Nov 17:03
    • Chile pledges up to 45pc emissions cut by 2030
    • Santiago, 20 November (Argus) — The Chilean government is hoping the Cop 21 meeting in Paris next month will yield a binding international agreement to curb greenhouse gas emissions. Chile has pledged to reduce CO2 emissions per GDP unit by 30pc below their 2007 level by 2030, with the
    • Read more
    • NEWS | 20 Nov 16:58
    • CC resumes ferro-silicon production
    • London, 20 November (Argus) — US ferro-alloys producer CC Metals and Alloys has restarted ferro-silicon production at its Calvert City plant, Kentucky after idling its operations in July this year. The company, which has three electric arc furnaces capable of making 100,000 t/yr of ferr
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    • NEWS | 20 Nov 16:52
    • North American Tungsten gets bankruptcy extension
    • Sao Paulo, 20 November (Argus) — North American Tungsten has been granted an extension to a bankruptcy protection order until 31 March 2016 as it places the Cantung tungsten mine in Canada's Northwest Territories on care and maintenance. It follows a court order this week authorizing th
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    • NEWS | 20 Nov 16:37
    • US begins antidumping probe into welded imports
    • Houston, 20 November (Argus) — The Commerce Department began probes to determine whether circular welded carbon-quality steel pipe from Pakistan and four other countries is being imported at less than fair value or receives help from government subsidies. Four US pipe and tube producers
    • Read more
    • NEWS | 20 Nov 15:14
    • Appliance Recycling Centers volumes, revenues drop
    • Houston, 20 November (Argus) — Appliance Recycling Centers of America said that lower volumes in appliance replacement programs and a significant drop in metal prices contributed to a fall in revenues in the third quarter. The Minnesota-based company yesterday reported a loss of $800,00
    • Read more
    • NEWS | 20 Nov 13:06
    • Mexico molybdenum site gets drilling boost
    • Sao Paulo, 20 November (Argus) — Toronto-based junior miner Minera Alamos has said drilling at the Los Verdes copper-molybdenum-silver project in Mexico's northwestern Sonora state shows potential for a second mining area. Reserves on the North deposit area of the site may match or even
    • Read more
    • NEWS | 20 Nov 00:31
    • Global aluminium in deficit through September
    • Houston, 20 November (Argus) — Global primary aluminum markets showed a deficit of 370,000t from January through September compared to a deficit of 654,000t for all of 2014, the World Bureau of Metal Statistics said in its November report. Demand for primary aluminum in the first nine m
    • Read more
    • NEWS | 20 Nov 00:11
    • Senators urge US action on extrusions
    • Houston, 20 November (Argus) — US senators Rob Portman and Sherrod Brown today sent a letter urging Customs and Border Protection and the Commerce Department to enforce antidumping and countervailing duty orders on Chinese aluminum extrusions. The letter was signed by five other senato
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    • NEWS | 19 Nov 23:59
    • Sims cutbacks to hit 35 North America facilities
    • Houston, 19 November (Argus) — Global recycler Sims Metal Management's cost-cutting strategy will affect 800 employees at 35 underperforming facilities, mostly in the company's North American central region. The company yesterday said its streamline cost reductions would "align fixed co
    • Read more
    • NEWS | 19 Nov 23:12
    • US aluminum producers may slash more output
    • Houston, 19 November (Argus) — US primary aluminum producers may be forced to shut down as much as 60pc of their capacity by early next year should Chinese production remain at current levels, Century Aluminum chief executive Michael Bless said today. He told the China Trade Taskforce i
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    • NEWS | 19 Nov 22:33
    • Warren Steel to idle furnace, plant
    • Houston, 19 November (Argus) — Ohio-based Warren Steel Holdings plans to idle its electric arc furnace (EAF) and related operations in Champion township because of weak demand for oil and gas drilling pipe. Warren Steel produces about 800,000t/yr of high-grade carbon and alloy steel con
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    • NEWS | 19 Nov 20:21
    • US steel exports drop in September
    • Houston, 19 November (Argus) — US steel exports fell by 1.8pc to 811,584 net tons (736,256 metric tonnes) in September from August, reflecting low oil prices and weakness in the Canadian economy. US exports fell by 21.5pc in September from the same month a year earlier, the American Ins
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    • COMMENTARY | 19 Nov 18:02
    • Nickel prices fall on speculative sell-off
    • London, 19 November (Argus) — London Metal Exchange (LME) nickel prices dropped sharply this week, settling at a 12-year low of $8,930/t on 19 November, down from $9,440/t a week ago. The fall was driven by speculative investors that also sold copper, zinc and lead this week because of
    • Read more
    • NEWS | 19 Nov 15:31
    • Molybdenum output up in 2Q, demand weaker
    • Changes made to figures in second paragraph - corrected 2Q 2014 production figures to 145.8mn lbs from 142.9mn lbs Sao Paulo, 19 November (Argus) — Global molybdenum production in the second quarter of this year rose by a tenth from the first quarter, despite a slight fall in demand f
    • Read more
    • NEWS | 19 Nov 12:56
    • Canada's Teck to shut Coal Mountain, cut jobs
    • New York, 19 November (Argus) — Canadian mining group Teck Resources will cut 1,000 jobs as part of a C$650mn ($488mn) cost reduction plan. And it has abandoned expansion plans for its Coal Mountain pulverised coal injection (PCI) mines, which will cease operations in fourth-quarter 2017
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    • NEWS | 18 Nov 21:22
    • LKQ taps former Bosch executive for board
    • Houston, 18 November (Argus) — Chicago-based automotive part manufacturer LKQ appointed Robert Hanser to its board of directors, effective immediately. Hanser served as president of German manufacturer Robert Bosch's automotive aftermarket division from 2006-2013 and currently holds a p
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    • NEWS | 18 Nov 18:55
    • LME Clear chief to join HKEx
    • London, 18 November (Argus) — The Hong Kong Exchanges and Clearing (HKEx) has appointed Trevor Spanner, chief executive of the London Metal Exchange's (LME) clearing house LME Clear, as its news chief operating officer in a major re-shuffle. The exchange has plans for the next three yea
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    • NEWS | 18 Nov 18:12
    • US military offers ferro-chrome stocks for sale
    • New York, 18 November (Argus) — The US military has made 3,968 short tonnes (st) of high carbon ferro-chrome and 2.8mn lb of low-carbon material for sale in November, the same amounts as October. The Defense Logistics Agency is offering 3,968st of Cr65.03pc and C5.90pc high-carbon metal
    • Read more
    • NEWS | 18 Nov 18:09
    • Samarco pellet stocks to run out by early December
    • London, 18 November (Argus) — Brazilian iron ore producer Samarco, a joint venture between UK-Australian mining group BHP Billiton and Brazilian mining group Vale, will run out of pellet stocks at Ponta Ubu port in Espirito Santo state by the beginning of December, the company said toda
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    • NEWS | 18 Nov 17:45
    • Zinc market balances as Chinese imports rise
    • London, 18 November (Argus) — The global refined zinc market was balanced in the third quarter, compared with oversupply of 38,000t in the second quarter and oversupply of 150,000t in the first quarter, the International Lead and Zinc Study Group said. The shift in market fundamentals w
    • Read more
    • NEWS | 18 Nov 17:26
    • US steelmakers slam trade deals
    • Houston, 18 November (Argus) — The Steel Manufactures Association (SMA) told a US trade policy hearing yesterday that most free-trade agreements in the past three decades had failed to prevent foreign governments from generating overcapacity in their steel industries while boosting US im
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    • NEWS | 18 Nov 17:01
    • Magnetation mulls another production curtailment
    • Houston, 18 November (Argus) — US iron ore producer Magnetation may temporarily curtail iron ore concentrate production at a facility in Minnesota early next year. The company said today that it has filed a mandatory employment notice to alert workers at its Plant 2 facility in Bovey, M
    • Read more
    • NEWS | 18 Nov 16:32
    • Ferbasa's ferro-chrome output down in October
    • Sao Paulo, 18 November (Argus) — Leading Brazilian producer Ferbasa was responsible for 19,450t of ferro-chrome last month, down by 15.5pc from a year earlier. The company had to adapt to a new power deal with northeast regional utility Chesf, it said. Ferbasa sold 12,077t of high-carb
    • Read more
    • NEWS | 18 Nov 15:27
    • Novelis opens heat treatment line in Germany
    • Houston, 18 November (Argus) — Atlanta-based recycler and aluminum product manufacturer Novelis today opened a new automotive heat treatment line in Nachterstedt, Germany. The $85mn facility is adjacent to the company's existing rolling mill and recycling center in the area and will inc
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    • NEWS | 17 Nov 22:19
    • Samarco shoring up two more tailings dams
    • Sao Paulo, 17 November (Argus) — Samarco, the Brazilian iron ore mining joint venture belonging to Vale and BHP Billiton, is carrying out emergency works on its Germano and Samarco tailings dams following a catastrophic breach of two of its other dams on 5 November. The emergency work
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    • NEWS | 17 Nov 21:12
    • US brass mill imports, exports continue slide
    • Houston, 17 November (Argus) — US imports and exports of brass mill products dropped in September from their 2014 levels with imports down 9.4pc and exports down 8.4pc. Brass mill imports in September totaled 37.8mn lbs compared to 41.7mn lbs during the previous September, the Washingto
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    • NEWS | 17 Nov 17:15
    • Cliffs idles Minnesota pellet operation
    • Houston, 17 November (Argus) — US-based iron ore producer Cliffs Natural Resources will idle its Northshore Mining iron ore pellet operation in Minnesota by 1 December in response to low capacity utilization rates at US steelmakers. The company anticipates that the Northshore operation
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    • NEWS | 16 Nov 23:51
    • Accuride taps executive leadership
    • Houston, 16 November (Argus) — Indiana-based wheelmaker Accuride today appointed Michael Hajost chief financial officer and senior vice president, effective 30 November. Hajost joins the company with more than 20 years of financial experience, serving most recently as head of treasury a
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    • NEWS | 16 Nov 22:51
    • US finds injury from Indian pipe imports
    • Houston, 16 November (Argus) — The US International Trade Commission has found "reasonable indication" that a US industry is materially injured due to imports of welded stainless steel pressure pipe from India. The commission today gave notice that the investigation into the imported pi
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    • NEWS | 16 Nov 22:14
    • Latin America’s steel imports from China rise
    • Latin America's steel imports from China rise Houston, 16 November (Argus) — Latin America's imports of finished steel from China grew by 5pc in the first nine months of 2015 compared with the same year-earlier period, led by gains in Central America, Mexico and Argentina. The region's i
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    • NEWS | 16 Nov 20:23
    • US raw steel production declines
    • Houston, 16 November (Argus) — US raw steel production fell by 1.1pc to 1.6mn net tons (1.45mn metric tonnes) in the week ended 14 November from 1.62mn nt the prior week, while capacity utilization fell to 67pc in the latest week from 67.7pc a week earlier, the American Iron and Steel In
    • Read more
    • NEWS | 16 Nov 18:11
    • Scrap freight rates to remain low for rest of year
    • London, 16 November (Argus) Freight rates for transporting scrap are expected to remain low for the rest of 2015, because an oversupply of available shipping capacity across the Atlantic and Pacific basins will prevent any recovery, market participants said. Rates for Supramax vessels holdi
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    • NEWS | 16 Nov 17:08
    • US service center aluminum shipments rise
    • Houston, 16 November (Argus) — US service center shipments of aluminum products rose by 4pc in October from the prior month while months' supply of inventory fell to 3 months from 3.1 months in September. Service center aluminum shipments totaled 134,900 net tons (122,300 metric tonnes)
    • Read more
    • NEWS | 16 Nov 16:41
    • Canadian service center steel shipments fall
    • Houston, 16 November (Argus) — Canadian service centers shipments of steel products fell by 7pc in October from the prior month while months' supply of stockpiles stayed unchanged at 3.2 months. Service center steel shipments fell to 422,400nt (382,000 metric tonnes) from 451,600nt in S
    • Read more
    • NEWS | 16 Nov 16:30
    • US service center steel shipments rise
    • Houston, 16 November (Argus) — US service center shipments of steel products rose by 3pc in October from the prior month while months' supply of inventory fell to 2.7 months from 2.8 months in September. Service center steel shipments totaled 3.36mn net tons (3mn metric tonnes) in Octob
    • Read more
    • NEWS | 16 Nov 15:59
    • Aleris taps new leadership
    • Houston, 16 November (Argus) — Rolled aluminum manufacturer Aleris today appointed Mike Keown senior vice president and general manager of North America and Ronald Lane as senior vice president, global manufacturing, effective immediately. Keown has spent 17 years with the company in fi
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    • NEWS | 16 Nov 13:45
    • Ice buys Trayport in $650mn all-share deal
    • London, 16 November (Argus) — Exchange operator Ice has agreed to buy UK trading software firm Trayport from US firm GFI Group, for $650mn in shares. Trayport is the most-used platform in the European gas and power over-the-counter (OTC) markets, which Ice today said are unlikely to be
    • Read more
    • NEWS | 13 Nov 23:46
    • Tata Steel Canada ships ore, advances project
    • Houston, 13 November (Argus) — Tata Steel Minerals Canada shipped 10 cargoes of crushed and screened iron ore totaling 1.7mn t in the 2015 operating season ended in September from its eastern Canada Direct Shipping Ore (DSO) project. Tata Steel Minerals Canada is also close to completin
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    • NEWS | 13 Nov 23:14
    • This Week in Metals: 9-13 November
    • Houston, 13 November (Argus) The fall in copper prices to a six-year low of $4,800/t on the London Metal Exchange (LME) this week sent global mining shares tumbling to historic lows by the end of this week. Switzerland-based commodity Glencore was trading below 1.00 in London for the first
    • Read more
    • NEWS | 13 Nov 22:37
    • Rusal cuts 2015 aluminum demand forecast
    • Houston, 13 November (Argus) — Russian primary aluminum producer UC Rusal has reduced its 2015 global aluminum demand forecast to 5.6pc growth for the year from 6pc. The company said its decision to cut its outlook to 43.4mn t of demand growth for the year was driven by a global surplus
    • Read more
    • NEWS | 13 Nov 19:56
    • Noble earnings hit by metals and mining loss
    • London, 13 November (Argus) — Hong Kong-based multi-commodities trader Noble Group saw a $69mn loss in its Metals Mining segment in the first nine months of this year. The results come amid a protracted downturn in ore and metal prices, which are at multi-year lows, and a slowdown in
    • Read more
    • NEWS | 13 Nov 19:26
    • Vale, BHP hint at reviving Brazil iron ore mine
    • Sao Paulo, 13 November (Argus) — The eventual restart of a major Brazilian iron ore mine belonging to Vale-BHP Billiton joint venture Samarco hinges on the approval of local authorities following a devastating breach of two tailings dams. Samarco halted iron ore production after the dam
    • Read more
    • NEWS | 13 Nov 17:50
    • LME zinc heavily sold off, nickel, lead also lower
    • London, 13 November (Argus) — London Metal Exchange (LME) zinc was heavily sold off this week reacting to a drop in copper prices, the weakening of equity markets in the US and Asia, the gains in the dollar and weak economic data from China. Nickel and lead also traded lower and only tin
    • Read more
    • NEWS | 13 Nov 17:33
    • LME copper falls, aluminum follows
    • London, 13 November (Argus) — London Metal Exchange (LME) copper was sold heavily by funds this week after it fell below the $5,000/t mark last Friday triggering stop losses and aluminum followed suit but on slightly lower volumes. The initial selling was prompted by weaker economic data
    • Read more
    • NEWS | 13 Nov 15:54
    • MEPS sees moderate world steel recovery in 2016
    • London, 13 November (Argus) — International steel consultancy MEPS reckons that a modest upturn in world steel production is expected in 2016, with an increase of 1.2pc on 2015, it said in a report this week World liquid steel production will be reported at 1.62bn t this year, resulting
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    • NEWS | 12 Nov 23:38
    • Ryerson ships less metal at lower prices
    • Houston, 12 November (Argus) — Metals processor and distributor Ryerson Holding shipped 5pc less tonnage in the third quarter than a year earlier while average realized prices fell by 12.2pc. The Chicago-based company's overall volumes declined to 492,000net tons (446,000 metric tonnes)
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    • NEWS | 12 Nov 21:05
    • Texas DRI plant nears completion
    • Houston, 12 November (Argus) — Austria-based Voestalpine expects to complete its direct reduction plant in southeast Texas by the first quarter of 2016, the company said today. The steelmaker plans to invest $740mn in the project, making it the company's largest ever foreign investment.
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    • NEWS | 11 Nov 19:32
    • Low premiums hinder LME aluminum contract launch
    • Houston, 11 November (Argus) — The London Metal Exchange's imminent US aluminum premium contracts will need more warehouse participation and more volatility in the open market to succeed, according to market participants. The LME premium contract launches 23 November amid market uncerta
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    • NEWS | 10 Nov 23:02
    • US iron ore shipments fall amid lower production
    • Houston, 10 November (Argus) — US domestic iron ore shipments decreased to 4.7mn t in June, down from 5.9mn t a year earlier amid production shut downs and low prices. Year to date shipments through June fell by 9pc to 17mn t from 19mn t, according to the United States Geological Survey
    • Read more
    • COMMENTARY | 07 Nov 00:17
    • US ferrous scrap prices fall on weak demand
    • Houston, 7 November (Argus) — US ferrous scrap prices traded anywhere between sideways to drops of as much as $20 per gross ton in some regions and prime scrap grades were the weakest across the country. Despite upward momentum in export prices, domestic mills were able to negotiate pr
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    • COMMENTARY | 07 Nov 00:10
    • US export prices rise on demand from India, Turkey
    • Houston, 7 November (Argus) — US bulk export prices increased between $5-10/t this week as demand from Turkey and India continued to drive values higher. An east coast exporter sold a cargo this week at an HMS 1/2 (80:20) level of $190/t cif Turkey, which was $5/t above a cargo sale boo
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    • COMMENTARY | 07 Nov 00:04
    • Chicago weakest scrap market in November
    • Houston, 7 November (Argus) — Ferrous scrap prices in Chicago dropped by $20-23 per gross ton this week as demand dropped to a six-year low. Market participants said that of the four producers that comprise Chicago's local market, one producer did not buy any scrap from the scrap market
    • Read more
    • NEWS | 31 Oct 00:06
    • This Week in Metals: 26-30 October
    • Houston, 31 October (Argus) Base metal prices marched lower after Federal Reserve officials said an interest-rate increase was still a strong policy option this year, highlighting a December meeting as the setting for examining whether the US economy can handle higher borrowing costs. A pol
    • Read more
    • NEWS | 23 Oct 23:21
    • This Week in Metals: 19-23 October
    • Houston, 23 October (Argus) China s sixth interest rate cut in less than a year came as the global impact of its economic slowdown tore through the steel industry in the UK while it hosted Chinese President Xi Jinping s visit this week. The People s Bank of China today cut its basic interes
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    • NEWS | 23 Oct 22:21
    • OmniSource increases shipments to SDI plants
    • Houston, 23 October (Argus) — Steel Dynamics ferrous scrap shipments to its own steel mills climbed to nearly 60pc of its total ferrous shipments in the latest quarter from less than half the same time last year, reflecting its choice to fuel its own steel mills at a time when US market
    • Read more
    • NEWS | 16 Oct 22:38
    • This Week in Metals: 12-16 October
    • Houston, 16 October (Argus) As the metals community descended on London this week, so did a gloomy mood as the Chinese manufacturing slowdown and oversupply set the scene for historically low prices in most metal markets carrying on into next year. The Chinese industry, faced with a slowing
    • Read more
    • NEWS | 09 Oct 23:35
    • This Week in Metals: 5-9 October
    • Houston, 9 October (Argus) — Global equities, metals, oil and emerging market currencies rallied after the soft US jobs report last week persuaded investors the Federal Reserve would hold its benchmark rate unchanged for longer than previously anticipated, possibly into next year. Minut
    • Read more
    • NEWS | 07 Oct 00:32
    • US scrap prices drop in October
    • Houston, 7 October (Argus) — US ferrous scrap prices have dropped by $50 per gross ton in most regions of the country as mill demand for scrap nosedived. A few large producers are now pushing for decreases of up to $60/gt below prior month settlements. This month's price drop of $50/gt
    • Read more
    • NEWS | 06 Oct 22:45
    • US consumption of scrap falls amid weak production
    • Houston, 6 October (Argus) — US steel scrap consumption fell by 6pc in the first half of this year as production dropped amid global oversupply. Steel producers consumed 24.5mn t of scrap from January through June this year, from 26mn t in the same period last year, according to data co
    • Read more
    • NEWS | 02 Oct 22:31
    • This Week in Metals: 28 Sept - 2 October
    • Houston, 2 October (Argus) Economic headwinds intensified this week, as a weak US jobs report for September, and slowing factory activity in the US, China and Europe reinforced concerns of a global slowdown that is being highlighted by the slide in commodity prices. The monthly US jobs repo
    • Read more
    • NEWS | 25 Sep 22:43
    • This Week in Metals: 21-25 September
    • Houston, 25 September (Argus) Prices of most base metals, emerging market currencies and stocks tumbled through the first days of the week in reaction to the Federal Reserve s decision last week not to lift its key rate as it warned of weakness in China and financial market turbulence. Fed
    • Read more
    • NEWS | 25 Sep 19:18
    • Nucor-Yamato to expand production capability
    • 25 September (Argus) — Nucor-Yamato Steel, a joint venture of railroad track component manufacturer Yamato Kogyo and steel producer Nucor, is installing a $75mn quench and self-tempering process at its steel mill in Blytheville, Arkansas. The process will enable the company to produce
    • Read more
    • NEWS | 25 Sep 19:04
    • Group urges steel talks in Li visit with Obama
    • Houston, 25 September (Argus) — The US Congressional Steel Caucus today urged President Barack Obama to "address long-standing steel issues" with Chinese President Li Xi Jinping during Li's state visit to the US this week. The letter, signed by 69 congressional members of the group, in
    • Read more
    • NEWS | 23 Sep 22:10
    • Steelmakers, union to resume talks next week
    • Houston, 23 September (Argus) — Contract talks between the United Steelworkers union and steelmakers US Steel and ArcelorMittal will resume early next week after a hiatus of more than a week for union negotiators to brief their membership on the state of discussions. "Although the parti
    • Read more
    • NEWS | 23 Sep 19:04
    • US aluminum group seeks talks on China exports
    • Washington, 23 September (Argus) — The US Aluminum Association sent a letter to US government officials asking them to bring before the World Customs Organization the issue of Chinese exports of semi-fabricated aluminium and urge discussions between China and the US on the global alumini
    • Read more
    • NEWS | 23 Sep 15:47
    • Latin America boosts steel exports
    • London, 23 September (Argus) Latin American exports of rolled steel rose by 6.5pc on the year in January-July, as the region s steelmakers increased overseas sales, amid reduced local demand and an influx of cheap Chinese product eroding their domestic market share. The region shipped 4.9mn
    • Read more
    • NEWS | 22 Sep 16:34
    • Metaldyne expands Bluffton plant
    • Houston, 22 September (Argus) — Michigan-based automotive parts manufacturer Metaldyne will expand its Bluffton, Indiana plant by 16pc to support recent growth. The addition will be used for "transmission-related programs" involving differential assemblies and aluminum valve bodies, and
    • Read more
    • NEWS | 22 Sep 16:22
    • US Steel Canada employees want court to block move
    • Houston, 22 September (Argus) — Employees and retirees of US Steel Canada (USSC) are urging the Ontario Superior Court to block the company's parent, US Steel, from moving output of its highest-value steel back to the US. Court appointed representatives of active employees and retirees
    • Read more
    • NEWS | 21 Sep 17:03
    • Global crude steel output declines in August
    • London, 21 September (Argus) — Global crude steel production decreased year on year in August, with almost every major steel-producing nation reporting declines in output figures over the period, according to the World Steel Association. Total crude steel output was 132mn t last month,
    • Read more
    • NEWS | 18 Sep 22:25
    • This Week in Metals: 14-18 September
    • Houston, 18 September (Argus) The US Federal Reserve s decision to keep its benchmark lending rate unchanged this week and its warning of heightened concerns about growth in China and other emerging markets sent a new wave of jitters through global markets from equities and currencies to c
    • Read more
    • NEWS | 18 Sep 18:18
    • US, Canadian aluminium production dips in August
    • Washington, 18 September (Argus) — US and Canadian aluminium production declined by 1.2pc in August compared with the year-ago month. US and Canada produced 378,100t of aluminium in August, down from 382,550t in August 2014, according to the US Aluminum Association, in cooperation with
    • Read more
    • NEWS | 18 Sep 14:39
    • TJN opens scrap yard in Sioux Falls
    • 18 September (Argus) — TJN Enterprises has started operations at a new facility in Sioux Falls, South Dakota, where it has operated a 4-acre yard for the past 25 years. The new location, which spans 25 acres, will process ferrous and nonferrous materials collected from industrial accoun
    • Read more
    • NEWS | 17 Sep 23:00
    • Aluminum group urges look at China exports
    • Houston, 17 September (Argus) The Aluminum Association has asked US government officials to open an investigation into misconduct by Chinese aluminum exporters in a letter dated September 4. In particular, the group is concerned that some companies are misclassifying aluminum exports to dod
    • Read more
    • NEWS | 17 Sep 21:15
    • AK Steel sees more sales, lower prices
    • Houston, 17 September (Argus) US producer AK Steel anticipates its third quarter shipments will climb by about 3pc from the second quarter, largely due to rising automotive demand, while prices will fall. Ohio-based AK Steel expects shipments will total 1.86mn net tons (1.7mn metric tonnes)
    • Read more
    • NEWS | 17 Sep 18:24
    • Chile copper mine near quake to restart soon
    • Santiago, 17 September (Argus) — Chile´s Antofagasta Minerals plans to gradually restart its Los Pelambres copper mine today following a major earthquake yesterday evening. "The operations of Minera Los Pelambras remain suspended and it is expected they will resume gradually within the
    • Read more
    • NEWS | 17 Sep 18:01
    • Steel shipments down at US service centers
    • Houston, 17 September (Argus) — US service center shipments of steel products fell by 8.9pc in August from the same month of 2014 while inventories rose. Service center steel shipments totaled 3.3mn net tons (nt) (3mn metric tonnes) in August, down from 3.64mn nt a year earlier, the Met
    • Read more
    • NEWS | 17 Sep 17:57
    • US service center aluminium shipments fall
    • Houston, 17 September (Argus) — US service center shipments of aluminium products fell by 2.2pc in August from the same month of 2014 but inventories fell for the first time in more than a year. Service center aluminium shipments fell to 131,800nt from 134,700nt a year earlier, the Meta
    • Read more
    • NEWS | 17 Sep 17:13
    • Gulf Manganese advances Indonesia smelter plans
    • London, 17 September (Argus) — Australian producer Gulf Manganese's project to develop a manganese smelter in Timor, Indonesia, can advance after the company secured a government licence for foreign investment. The company received the licence from Indonesia's investment co-ordinating b
    • Read more
    • NEWS | 17 Sep 15:06
    • US ferro-vanadium consumption down in June
    • New York, 17 September (Argus) — US consumption of ferro-vanadium dropped by 4.1pc in June from a year earlier, the latest figures from the country's USGS geological survey show. Ferro-vanadium demand totalled 233,000kg in June, down from 243,000kg on the year, but up from 227,000kg in
    • Read more
    • NEWS | 17 Sep 10:37
    • Chile copper mines shut after earthquake
    • London, 17 September (Argus) — Chilean copper producers Codelco and Antofagasta shut their larger mines following a 8.3 magnitude offshore earthquake, some 280km from the capital Santiago. The earthquake prompted a tsunami warning and the government ordered an emergency evacuation along
    • Read more
    • NEWS | 16 Sep 21:45
    • Shiloh Industries restates profit lower
    • Houston, 16 September (Argus) Ohio-based Shiloh Industries reduced its profit for the first and second quarters of the year by nearly $2mn in a restatement of its earnings after conducting an investigation into accounting practices at its Wellington facility. The company said the error was
    • Read more
    • NEWS | 16 Sep 17:58
    • Anode-grade industry warned of looming shortage
    • Washington, 16 September (Argus) — The global aluminium industry could face a shortage of anode-grade petroleum coke, an essential feedstock, within the next three years, according to an industry analysis. Using a baseline scenario of steady aluminium demand growth at 5pc/yr, supply of
    • Read more
    • NEWS | 16 Sep 14:40
    • Nucor anticipates stronger mill performance
    • Houston, 16 September (Argus) US steelmaker Nucor expects third quarter operating performance at its steel mills will improve from the prior quarter, with improved margins as its mills benefit from lower inventory costs. The US automotive market is strong while non-residential construction
    • Read more
    • NEWS | 11 Sep 20:45
    • This Week in Metals: 7-11 September
    • Houston, 11 September (Argus) Economic headwinds stiffened this week amid signs of accelerating slowdown in China, Brazil s downgrade to junk credit status and continued volatility in equity markets ahead of a Federal Reserve meeting next week that may result in the first US rate hike in nin
    • Read more
    • NEWS | 04 Sep 22:59
    • This Week in Metals: 31 August-4 September
    • Houston, 4 September (Argus) Global equity markets gyrated lower amid signs of slowing growth from China to Brazil and Canada, weakening factory activity in the US, and ongoing currency volatility that partly reflects concerns over the Federal Reserve s anticipated rate increase. China s fa
    • Read more
    • COMMENTARY | 28 Aug 21:54
    • This Week in Metals: 24-28 August
    • 28 August (Argus) — Concerns of a quickening economic slowdown in China helped trigger a global equity-market selloff, climaxing in "Black Monday" on 24 August, which spawned fears of more commodity and currency volatility and slowing global growth. While the market calmed towards the en
    • Read more
    • NEWS | 21 Aug 22:48
    • This Week in Metals: 17-21 August
    • Tumbling stock markets across the globe have sent shivers through metals markets amid weak manufacturing figures that raise concerns the Chinese economic slowdown will deepen. Chinese manufacturing contracted at its fastest rate in more than six years in August, with modest growth in Eu
    • Read more
    • NEWS | 18 Aug 20:04
    • Fire hits Codelco’s Chuquicamata mine
    • Fire hits Codelco's Chuquicamata mine London, 18 August (Argus) — Chilean state-controlled copper-molybdenum producer Codelco's Chuquicamata mine, in the northern Antofagasta region, was struck by an underground fire yesterday. The incident occurred yesterday afternoon in an underground
    • Read more
    • NEWS | 14 Aug 22:05
    • This Week in Metals: 10-14 August
    • 14 August (Argus) — Developments in China have dominated what would normally be one of the quietest weeks of the year for the global metals industry. The impact of China's currency devaluation on 11 August had hardly sunk in before massive explosions the following night at hazardous goo
    • Read more
    • NEWS | 10 Aug 20:33
    • US steel output falls by 9pc
    • Houston, 10 August (Argus) — US domestic raw steel production dropped by 9pc to 1.76mn net tons (nt) (1.6mn metric tonnes) in the week ended 8 August from the same week a year earlier, while capacity utilization declined to 73.4pc. Production declined from 1.93mn nt a year earlier, when
    • Read more
    • NEWS | 07 Aug 23:40
    • This Week in Metals: 3-7 August
    • Houston, 7 August (Argus) The height of summer 2015 is proving to be the toughest period in living memory for many players in the metals markets as demand has petered out and activity is even slower than usual for this time of year. China s role in global metals markets is manifold. Underly
    • Read more
    • NEWS | 31 Jul 22:24
    • Tredegar's extrusion sales rise with higher prices
    • Pitsburg, Kansas, 31 July (Argus) — The Bonnell Aluminum extrusion operations of Virginia-based manufacturer Tredegar increased sales volumes by 12.4 pc in the second quarter to 42.9mn pounds from 38.2mn pounds in the same quarter a year ago. Aluminum extrustion sales volumes are up 10.
    • Read more
    • NEWS | 31 Jul 22:09
    • This Week in Metals: 27-31 July
    • Houston, 31 July (Argus) Weaker growth in the eastern US and the onset of summer holidays in the west are dragging on metal demand and prices, promising tougher weeks ahead. Some market players are taking advantage of the prevailing bearish sentiment to pick up stocks of metal at current hi
    • Read more
    • NEWS | 24 Jul 22:35
    • This Week in Metals: 20-24 July
    • Houston, 24 July (Argus) Prospects of Federal Reserve interest rate hikes as soon as September appeared to drive investors away from commodities, metals companies and miners this week as broader equities also stumbled amid disappointing earnings. London Metal Exchange (LME) aluminum, copper
    • Read more
    • NEWS | 17 Jul 22:21
    • This Week in Metals: 13-17 July
    • Houston, 17 July (Argus) US equities rebounded and the three major indexes ended the week higher although energy stocks weighed on the Dow and S P 500. The dollar posted its biggest weekly rise in two months on the likelihood of a Federal Reserve rate hike this year. US housing starts rose
    • Read more
    • NEWS | 13 Jul 15:15
    • Capstone Mining holds to copper production outlook
    • Houston, 13 July (Argus) — Canada-based copper producer Capstone Mining is holding to its 2015 production guidance of 90,000t of copper as improved performance at its Minto mine is expected to offset a shortfall at Cozamin. Capstone produced 21,100t of copper in the second quarter, down
    • Read more
    • NEWS | 13 Jul 14:25
    • Aleris aluminium appoints new chief executive
    • Houston, 13 July (Argus) Ohio-based aluminium producer Aleris s board of directors appointed Sean Stack as the company s new chief executive, replacing Steve Demetriou. Stack, who has been at Aleris since its formation in 2004, most recently served as chief executive of the company s North
    • Read more
    • NEWS | 02 Jul 22:26
    • This Week in Metals: 29 June - 2 July
    • Uncertainty continued to surround the Greek debt crisis ahead of a weekend referendum on tough terms for bailout aid. This pushed the euro close to parity against the US dollar on 1 July. A second consecutive monthly improvement in the health of global manufacturing was seen in Purchasing Man
    • Read more
    • NEWS | 02 Jun 20:32
    • US zinc prices shrug off Horsehead rampup
    • By Philip Burgert Houston, 2 June A near doubling of zinc production from Horsehead Holding Corp s plant in Mooresboro, North Carolina, has not impacted US zinc prices. The plant produced about 4,100t of zinc metal in May, compared to 2,600t tons and 2,800t in March and April, respectively.
    • Read more

Market Talk (GMT)

    • NEWS | 11 Feb 17:08
    • DJ Rio Dividend Cut Eases Credit Risk, Says Fitch -- Market Talk
    • Rio Tinto s decision to scrap its progressive dividend policy gives the group greater financial flexibility and should ease some of the near-term pressures on its credit rating, says Fitch Ratings. But it notes that market conditions will remain weak in 2016 and any improvement to the credit
    • Read more
    • NEWS | 11 Feb 16:38
    • DJ S&P Cuts Glencore Recommendation -- Market Talk
    • Shares in mining giant Glencore drop 6.3% to 88p on a rough day for markets. The company s share value will not be helped by a recommendation drop from Standard Poor s equity research unit. S P drops Glencore to strong sell from sell, although it slightly raises target price to 65p from 60p
    • Read more
    • NEWS | 11 Feb 16:28
    • DJ Spot Gold Hits One-Year High -- Market Talk
    • Gold has soared to a one-year high in Europe, trading up 4.4% at $1,249.07/oz, as a weaker dollar, watered down expectations on the timing of a U.S. rate rise and safe-haven demand boost appetite for the precious metal. The metal is at levels not seen since February last year with the softer g
    • Read more
    • NEWS | 11 Feb 15:59
    • DJ Rio Tinto Dividend Decision Marks a Sharp Change -- Market Talk
    • Rio Tinto s decision to cut its dividend marks a sharp change in tone from its management who hiked the interim dividend by 12% in August, says Liberum Capital. Nevertheless, we think the move is a positive step that more accurately aligns capital allocation priorities with shareholders, Lib
    • Read more