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Metal News & Reports (GMT)

    • NEWS | 30 Jul 20:58
    • Noranda raises zinc metal output
    • Houston, 30 July (Argus) — Quebec-based Noranda Income Fund increased zinc production at its zine processing facility by 7.4pc in the second quarter from a year earlier. The fund, which owns a zinc processing facility at Salaberry de-Valleyfield, Québec, said production increased in t
    • Read more
    • NEWS | 30 Jul 20:22
    • DJ Barrick to Sell 50 of Chilean Mine to Antofagasta for $1.005 Bln
    • DJ Barrick to Sell 50% of Chilean Mine to Antofagasta for $1.005 Bln Barrick Announces Sale of 50 Percent of Zald #237;var Mine, Formation of New Partnership with Antofagasta Plc TORONTO, ONTARIO--(Marketwired - July 30, 2015) - All amounts expressed in US dollars Barrick Gold Corporation (N
    • Read more
    • NEWS | 30 Jul 19:14
    • DJ Gold Falls on Dollar Strength, Fed Rate Worries
    • By Tatyana Shumsky Gold futures drummed a retreat on Thursday as some investors adjusted their outlook on U.S. interest rates while others sold precious metals amid pressure from a stronger dollar. The most actively traded contract, for December delivery, fell $4.60, or 0.4%, to settle at $1,0
    • Read more
    • NEWS | 30 Jul 18:35
    • DJ Copper Slips From One-Week High on Dollar Pressure
    • By Tatyana Shumsky Copper futures fell on Thursday, pulling back from a one-week high, as declines in China's stock market and a stronger dollar weighed on the market. The most actively traded contract, for September delivery, settled down 3.05 cents, or 1.3%, at $2.3770 a pound on the Com
    • Read more
    • NEWS | 30 Jul 17:50
    • Vale lowers 2016 iron ore production target
    • London, 30 July (Argus) — Brazilian mining firm Vale will lower its iron ore production target for next year. The firm is still in the process of revising the goal, which will be announced at the end of this year, executive director for non-ferrous metals Peter Poppinga said today. I
    • Read more
    • NEWS | 30 Jul 16:56
    • Russian and Chinese firms talk REE projects
    • London, 30 July (Argus) — Russia's RT Global Resources is discussing joint development of domestic rare earth element (REE) resources with potential Chinese partners. RT Global Resources, a subsidiary of state-controlled defence and technology firm Rostec, and Russian private-sector i
    • Read more
    • NEWS | 30 Jul 16:20
    • DJ Canada's Economy Seen Likely Stagnant in May
    • OTTAWA #8212;Economists estimate that Canada's economy was stuck in neutral in May, reflecting weak manufacturing output and a likely temporary drop in oil production caused by forest fires. Gross domestic product data due on Friday could add to the debate over whether Canada entered a recessi
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    • NEWS | 30 Jul 16:13
    • Arch cuts 2015 target as coal burn falls: Update
    • updates with earnings call commentary, corrects guidance and 2014 production Washington, 30 July (Argus) — Arch Coal reduced its 2015 thermal coal shipments target by 2.4pc to 120mn-124mn short tons (109mn-113mn metric tonnes) as US thermal coal producers face falling demand from US
    • Read more
    • NEWS | 30 Jul 15:40
    • TMK Americas ships 41pc less steel pipe
    • Houston, 30 July (Argus) — The US division of Russia's TMK steel group shipped 40.6pc less steel pipe in the first half of 2015 than a year earlier, partly reflecting lower demand for pipes and tubes used in oil and gas drilling as crude prices fell. The American Division shipped 352,
    • Read more
    • NEWS | 30 Jul 15:19
    • Chinese steel mills post losses in 1H
    • Singapore, 30 July (Argus) — Members of the China iron and steel association (Cisa) made a combined loss of 1.64bn yuan ($264mn) in their steel businesses in January-June. Cisa said 43pc of its member companies posted a loss in this period, mainly because of falling steel prices as a
    • Read more
    • NEWS | 30 Jul 15:16
    • Policies fail to lift Chinese rare earths prices
    • London, 30 July (Argus) — The introduction of new domestic and export policies on rare earths in China at the start of this year and on 1 May have done little to support spot prices, which steadily declined in January-June. Total exports in the first half of this year stood at 13,880t
    • Read more
    • NEWS | 30 Jul 15:11
    • Arch Coal cuts 2015 sales target as demand falls
    • Washington, 30 July (Argus) — Arch Coal reduced its 2015 shipments guidance by 7pc to 120mn-124mn short tons (109mn-113mn metric tonnes) as US thermal coal producers face falling demand from utilities and competition from natural gas. The guidance remains higher than the 2014 producti
    • Read more
    • NEWS | 29 Jul 19:29
    • Arch Coal lenders object to exchange offer
    • Washington, 29 July (Argus) — Some of Arch Coal's lenders have objected to the company's offer to exchange $2.875bn in unsecured bonds for less than half that amount in secured debt and cash. Certain unidentified term-loan lenders "purporting to hold more than 50pc of the term loans"
    • Read more
    • NEWS | 29 Jul 19:26
    • Brazil's Usiminas postpones quarterly results
    • London, 29 July (Argus) — Brazilian steelmaker and iron ore mining firm Usiminas has delayed the release of its April-June results owing to the "high volatility of iron ore prices in the international market". Usiminas produced 1.46mnt of iron ore in the first three months of this yea
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    • NEWS | 29 Jul 19:21
    • China's Rising Nonferrous Metals forecasts loss
    • Beijing, 29 July (Argus) — Chinese state-owned rare earth element (REE) and tungsten producer Rising Nonferrous Metals (RNM) expects to report a loss of 33mn-36mn yuan ($5.3mn-5.8mn) for the first half of 2015. Major factors behind the expected loss are weaker sales and falling REE an
    • Read more
    • NEWS | 29 Jul 18:14
    • Southern Copper boosts copper, moly output
    • Houston, 29 July (Argus) — Southern Copper boosted its copper mine production by 8.6pc in the first half of this year, while molybdenum production climbed by 2pc over the same period from a year earlier. The producer's copper mine production output rose to 356,701t from 328,519t a ye
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    • NEWS | 29 Jul 17:46
    • Accuride reports strong Q2 for aluminium wheels
    • Houston, 29 July (Argus) — US commercial vehicle components manufacturer Accuride said its aluminium wheels segment increased net sales by 13.1pc in the second quarter to $114.4m from a year earlier. The segment's adjusted earnings before interest, taxes, depreciation and amortization
    • Read more
    • NEWS | 29 Jul 16:56
    • Cliffs cuts US ore outlook as sales fall
    • Houston, 29 July (Argus) — US-based iron ore producer Cliffs Natural Resources cut its full-year US sales and production outlook for a second time this year, reflecting low-capacity utilization at US steelmakers in the face of "heavy imported steel penetration." Ohio-based Cliffs cut
    • Read more
    • NEWS | 29 Jul 16:36
    • Vedanta sees drop in global zinc output in 2015
    • Mumbai, 29 July (Argus) — Indian mining firm Vedanta Resources expects mine closures to reduce global zinc output by 5pc this year. The company said the closure of its Lisheen facility in Ireland and Chinese company MMG's Century mine in Australia would remove 660,000t of zinc product
    • Read more
    • NEWS | 29 Jul 16:18
    • New molybdenum ore boosts Antofagasta output
    • Sao Paulo, 29 July (Argus) — Mining company Antofagasta's second-quarter molybdenum production at its Los Pelambres mine in Chile increased by 62.5pc on the year to 2,600t as it opened a new development phase. Output was up by nearly 24pc against the first three months of this year,
    • Read more
    • NEWS | 29 Jul 16:10
    • US Steel to idle Fairfield blast furnace
    • Houston, 29 July (Argus) — US Steel plans to idle its blast furnace at its Fairfield Works in Alabama next month as it makes more operating adjustments to align with market conditions. The company's chief executive Mario Longhi told a conference call today the blast furnace would be i
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    • NEWS | 29 Jul 15:35
    • Universal Stainless sees challenging market
    • New York, 29 July (Argus) — US stainless steel producer Universal Stainless and Alloy Products expects market conditions to remain "challenging" in the third quarter because of slack pricing and a severe downturn in the oil and gas industry. But customers see a potential rise in deman
    • Read more
    • NEWS | 29 Jul 15:25
    • Rail volume declines fail to stop rate gains
    • Houston, 29 July (Argus) — The rates metals shippers paid to move product by rail in the first quarter increased at a majority of Class I railroads, even as volumes fell across the board. The lower volumes were spread across the US rail system, with Canadian Pacific's (CP) US operati
    • Read more
    • NEWS | 29 Jul 15:19
    • US consumption of FeCr dips again in April
    • New York, 29 July (Argus) — Consumption of ferro-chrome in the US edged down 2.2pc in April compared with the same period last year, while imports rose 27.3pc, according to latest figures from the US Geological Survey (USGS). US consumption of high carbon and low carbon ferro-chrome t
    • Read more
    • NEWS | 29 Jul 15:14
    • Indonesia’s new regulation could hit tin exports
    • Indonesia's new regulation could hit tin exports London, 29 July (Argus) — Indonesia's new tin export regulation which comes into effect on 1 August could start delaying exports from the country and briefly push prices higher. The regulation requires Indonesian smelters to provide a "
    • Read more
    • NEWS | 29 Jul 15:00
    • US Steel loss widens, shipments fall
    • Houston, 29 July (Argus) — US Steel's loss widened to $261mn in the second quarter, more than half of it coming in a write-down of its retained interest in US Steel Canada, as shipments and realized prices fell. Pittsburgh-based US Steel's second quarter loss widened from a loss of $1
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    • NEWS | 29 Jul 14:55
    • Codelco: 'not evaluating Salvador closure'
    • Sao Paolo, 29 July (Argus) — Codelco chief Nelson Pizarro has said the state-controlled company is not weighing up the permanent closure of its Salvador division as he renewed calls for contract workers to come to the table to resolve a dispute over conditions that has left one person
    • Read more
    • NEWS | 29 Jul 14:51
    • Freeport to review copper, molybdenum production
    • Sao Paolo, 29 July (Argus) — Molybdenum prices at near 12-year lows have led Freeport McMoRan to review its production plans as part of a cost cutting drive. The Phoenix, Arizona-based company, which produced 95mn lbs of molybdenum in 2014 plans to unveil new copper and molybdenum pro
    • Read more
    • NEWS | 29 Jul 14:47
    • US Commerce slaps import duty on magnesium alloys
    • New York, 29 July (Argus) — US Magnesium LLC said that the US Department of Commerce has ruled that certain magnesium alloys jointly patented and developed by the Israeli magnesium producer Dead Sea Magnesium (DSM) and carmaker Volkswagen AG are within the scope of anti-dumping duties
    • Read more
    • NEWS | 29 Jul 14:32
    • Outokumpu sees healthy stainless demand in Q3
    • London, 29 July (Argus) — Finnish steelmaker Outokumpu expects stainless steel consumer demand to be relatively healthy in the third quarter of this year. But the European markets will be seasonally slow during the summer months, and in the Americas the pressure from Asian imports pe
    • Read more
    • NEWS | 28 Jul 20:51
    • Century Aluminum shutters Ravenswood smelter
    • Houston, 28 July (Argus) — Century Aluminum will permanently shutter its Ravenswood, West Virginia, aluminium smelter. The smelter has been idled since February 2009 and will be closed with immediate effect. The decision to permanently close the plant was based on the company's inabil
    • Read more
    • NEWS | 28 Jul 17:13
    • Chinese REE exports more than double in June
    • Beijing, 28 July (Argus) — China's rare earth element (REE) exports in June more than doubled to 3,219t compared with a year earlier, buoyed by lower prices, official customs data show. But total exports in the first half of the year of 13,880t were down by 1.6pc compared with the sam
    • Read more
    • NEWS | 28 Jul 17:06
    • AK Steel expects trade-case boost: Update
    • (Updates with new first pargraph) Houston, 28 July (Argus) — AK Steel expects that newly filed US trade cases will help stem the flow of allegedly unfairly traded steel imports in the second half of the year, boosting domestic shipments and prices. "The level of what the company be
    • Read more
    • NEWS | 28 Jul 16:41
    • IMH to increase special pig iron output
    • Moscow, 28 July (Argus) — Russia-based ferrous materials group Industrial Metallurgical Holding (IMH)is increasing production of special high-quality pig iron this year. IMH in October plans to launch a pig iron desulphurisation unit, which is expected to double the company's capacity
    • Read more
    • NEWS | 28 Jul 16:35
    • Diesel spills in Houston Ship Channel
    • Houston, 28 July (Argus) — The Houston Ship Channel closed from ITC Pasadena to the Kavanaugh dock and at the mouth of Greens Bayou after 1,000 USG of diesel spilled this morning, the US Coast Guard said. The spill occurred at 9:06am ET near South Central Cement, which is located far
    • Read more
    • NEWS | 28 Jul 16:30
    • Turkey's August EAF capacity utilisation to be low
    • London, 28 July (Argus) — Turkish electric arc furnaces (EAFs) will run at an average capacity utilisation of 45-55pc in August, according to Turkish steelmakers and traders. The average utilisation rate for Turkish metal manufacturers in August last year was 74pc, according to Turkish
    • Read more
    • NEWS | 28 Jul 16:20
    • US steelmakers file cold-roll antidumping cases
    • Houston, 28 July (Argus) — Five major US steel producers today filed petitions charging that allegedly unfairly traded imports of cold-rolled steel flat products from Brazil, China, India, Japan, South Korea, Netherlands, Russia and the UK are causing material injury to the US steel in
    • Read more
    • NEWS | 28 Jul 15:12
    • LME molybdenum prices rise
    • London, 28 July (Argus) — The London Metal Exchange (LME) cash molybdenum price rose in the past week, reflecting renewed strength in the physical market. The LME officially closed molybdenum cash prices at $13,000-13,500/t yesterday, which were up from $12,300-12,800/t a week earlier
    • Read more
    • NEWS | 28 Jul 14:42
    • AK Steel expects trade cases to boost prices
    • Houston, 28 July (Argus) — AK Steel expects that pending and anticipated US trade cases will stem the flow of allegedly unfairly traded steel imports in the second half, boosting domestic shipments and prices. "The level of what the company believes are unfairly traded imports of carb
    • Read more
    • NEWS | 27 Jul 20:14
    • US steel output falls by 9pc
    • Houston, 27 July (Argus) — Domestic raw steel production in the US declined by 9.1pc to 1.74mn net tons (nt) (1.6mn metric tonnes) in the week ended on 25 July from the same week a year earlier, while capacity utilization fell to 72.8pc. Production was down from 1.91mn nt a year earli
    • Read more
    • NEWS | 27 Jul 18:13
    • Global pig iron output dips in June
    • London, 27 July (Argus) — Global production of pig iron fell to just under 97.5mn t in June, with weak demand encouraging suppliers to cut output. June output was down by 3.6pc at 97.48mn t from May, according to the World Steel Association. There was also a month-on-month drop in out
    • Read more
    • NEWS | 27 Jul 17:55
    • Union says US Steel seeks to 'turn back clock'
    • Houston, 27 July (Argus) — The United Steelworkers (USW) union has received an outline of US Steel's initial labor contract proposal that the union said would "turn back the clock" on contractual improvements gained over decades. The US steelmaker is seeking to use "the current indust
    • Read more
    • NEWS | 27 Jul 15:13
    • CMC to build $250mn steel mill in Oklahoma
    • Houston, 27 July (Argus) — US steel producer and metals recycler Commercial Metals (CMC) will invest about $250mn to build its second micro-mill in Durant, Oklahoma, to serve northern Texas and expand into the lower mid-continental US. Texas-based CMC said the 350,000net tons (317,500
    • Read more
    • NEWS | 27 Jul 14:56
    • Codelco Salvador division seized by protestors
    • Sao Paulo, 27 July (Argus) — Chilean state-owned copper and molybdenum producer Codelco's Salvador division has been seized by contract workers in an escalation of violent protests that last week resulted in a fatality. The mining firm has expressed concern that safety experts are bei
    • 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 | 24 Jul 22:14
    • Essar spends $184m on Algoma upgrades
    • Houston, 24 July (Argus) — Essar Steel Algoma plans to spend C$240m ($184m) on upgrades that will boost capacity by a quarter at its Direct Strip Production Complex (DSPC) in Ontario, Canada. The DSPC upgrade will increase capacity to 3mn t/yr from a current 2.4mn t/yr at the only fac
    • Read more
    • NEWS | 24 Jul 18:15
    • US steel imports fall in June
    • Houston, 24 July (Argus) — US steel imports fell by 10.3pc in June from the prior month, led by declines in shipments of pipes used in oil and gas drilling, while gains in imports of finished steel slowed to a 14pc pace in the first half. Total steel imports were down to 3.05mn net to
    • Read more
    • NEWS | 24 Jul 14:53
    • Mexico’s Simec ships more steel at lower prices
    • Mexico's Simec ships more steel at lower prices Houston, 24 July (Argus) — Mexico-based steelmaker Grupo Simec shipped about 2pc more steel at lower prices in the second quarter than the same period last year, as declines in US and Canadian volumes partially offset gains in Mexico. Sim
    • Read more
    • NEWS | 24 Jul 12:38
    • South Korean firm Hyundai Steel's profit falls
    • London, 24 July (Argus) — South Korean firm Hyundai Steel's profit dropped by 44pc on the year in the second quarter, as a rise in output and sales failed to offset weakening global prices. The company's profit totalled 197bn South Korean won ($168.4bn) in April-June, down from W251bn
    • Read more
    • NEWS | 23 Jul 20:16
    • Noranda pulls back smelter output increase
    • Pitsburg, Kansas, 23 July (Argus) — Noranda Aluminum has slowed efforts to return its New Madrid, Missouri, smelter to full production by the middle of the third quarter after aluminum prices dropped sharply in May. The 263,000t/yr smelter operates at 85pc of capacity and company exe
    • Read more
    • NEWS | 23 Jul 19:00
    • Allegheny Tech shipments down amid weak demand
    • Pitsburg, Kansas, 23 July (Argus) — Allegheny Technologies (ATI) standard flat-rolled mill products shipments were 148,794,000 lbs in the second quarter, down 23.2pc from 193,699,000 lbs in the second of last year. High value flat-rolled mill products shipments were 130,061,000 lbs,
    • Read more
    • NEWS | 23 Jul 18:06
    • Brazilian Vale's ferro-alloys output falls
    • Sao Paulo, 23 July (Argus) — Brazilian mining firm Vale's second-quarter ferro-alloys production fell by 28.6pc from a year earlier to 31,000t. Production was 14.1pc higher compared with the first quarter of 2015. Lower output followed a decision by Vale to shut down the Barbacena and
    • Read more
    • NEWS | 23 Jul 18:03
    • MMX submits revised restructuring plan
    • London, 23 July (Argus) — Brazilian mining company MMX has submitted a revised restructuring plan to its creditors. MMX filed for bankruptcy protection in October last year and submitted a restructuring plan to creditors in December, which was not well received. The plan includes an
    • Read more
    • NEWS | 23 Jul 17:29
    • Kaiser posts record shipments in second quarter
    • Pitsburg, Kansas, 23 July (Argus) — Kaiser Aluminum shipped 160mn lbs of aluminum products in the second quarter to mark a new record for the company and an increase of 1.3pc from the 158mn lbs shipped in the same period a year ago. Kaiser's value added revenue for the second quarter
    • Read more
    • NEWS | 23 Jul 17:02
    • Industry associations urge Beijing to support FME
    • Beijing, 23 July (Argus) — State-sponsored metal industry associations China Nonferrous Metals Industry Association, Association of China Rare Earths Industry and China Society of Rare Earths have called on the Chinese government to offer bailout measures to support the troubled Fanya
    • Read more
    • NEWS | 23 Jul 16:59
    • India aluminium group seeks higher import tax
    • Washington, 23 July (Argus) — The Aluminium Association of India wants the Indian government to impose a 10pc tariff on imports of aluminium in response to a surge in shipments from China and the Middle East. The Aluminium Association of India has met with government officials to push
    • Read more
    • NEWS | 23 Jul 16:53
    • Slumping midcontinent iron ore hits ASC
    • Houston, 23 July (Argus) — Great Lakes maritime shipper American Steamship (ASC) has seen business drop off because of reduced iron ore demand, parent GATX said today. ASC is operating only 12 of its 17 vessels as Great Lakes iron ore tonnage in the first half of 2015 was about 10pc l
    • Read more
    • NEWS | 23 Jul 16:37
    • China likely to review ferro-alloys exports regime
    • 23 July (Argus) — The Chinese government is likely to review its export duty regime on ferro-alloys as the country considers removing trade barriers for a number of products it trades with western countries, according to market participants. China has been in talks with the European U
    • Read more
    • NEWS | 23 Jul 16:22
    • Freeport McMoRan cuts 2015 molybdenum forecast
    • 23 July (Argus) — Freeport McMoRan has cut its forecast for consolidated sales of molybdenum in 2015 to 93mn lbs from a previous forecast of 95mn lbs. The Phoenix, Arizona-based company also said that it continues to monitor market conditions and may adjust its molybdenum operating pl
    • Read more
    • NEWS | 23 Jul 16:09
    • Codelco halts Salvador operations amid protests
    • Sao Paolo, 23 July (Argus) — Codelco, Chile's state-controlled copper-molybdenum producer says it has temporarily halted operations at its Salvador division to protect the safety of workers and the surrounding population after violent protests by contract workers. Salvador, which prod
    • Read more
    • NEWS | 23 Jul 16:01
    • Molycorp secures court approval for $130mn funding
    • London, 23 July (Argus) — US rare earth mining firm and processor Molycorp has secured court approval to receive $130mn in debtor-in-possession (DIP) financing from Oaktree Capital Management, a major move forward in its Chapter 11 bankruptcy recovery plan. Molycorp filed for voluntar
    • Read more
    • NEWS | 23 Jul 16:00
    • Vale iron ore output rises to 85.3mn t in 2Q15
    • London, 23 July (Argus) — Brazilian mining group Vale increased iron ore production to 85.3mn t in the second quarter of this year, which reached the second-highest quarterly production total in the company's history. Iron ore output increased by 7.4pc from the second quarter of 2014
    • Read more
    • NEWS | 23 Jul 15:32
    • Weak fundamentals limit Brazil ferro-alloy exports
    • London, 23 July (Argus) — Brazilian ferro-alloy exports fell for all but one product for the first half of this year as a result of lower availability of domestic material and weaker international demand. The Brazilian ferro-alloys industry has remained under pressure this year from l
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    • NEWS | 23 Jul 15:16
    • US rare earth imports decline in May
    • New York, 23 July (Argus) — US imports of rare earths fell May compared with the same month a year earlier as consumers held back from completing deals as China reformed its export policies. US imports of rare earth oxides and chlorides dropped by 9.9pc on the year to 432,563kg in May
    • Read more
    • NEWS | 23 Jul 14:57
    • Reliance Steel’s sales, prices drop
    • Reliance Steel's sales, prices drop Houston, 23 July (Argus) — US metals service center Reliance Steel Aluminum's total sales fell by 2.1pc in the second quarter while average sales prices declined by 6pc, reflecting a weakening energy market, uneven demand and slumping commodity pric
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    • NEWS | 23 Jul 14:00
    • Nucor ships less steel at lower prices
    • Houston, 23 July (Argus) — US steelmaker Nucor produced and shipped less steel in the second quarter at lower prices, as high levels of imports cut into revenue. The North Carolina-based steelmaker's mill output fell by 2pc to 5.2mn net tons (nt) (4.7mn metric tonnes) in the quarter f
    • Read more
    • NEWS | 22 Jul 21:15
    • Noranda’s aluminum shipments fell 10.4pc in Q2
    • Noranda's aluminum shipments fell 10.4pc in Q2 Houston, 22 July (Argus) — Noranda Aluminum Holding said today its second quarter primary aluminum shipments of 128.3mn lbs were 10.4pc lower than the 143.2mn lbs shipped a year earlier. The company reported a loss of $25.4mn from sales of
    • Read more
    • NEWS | 22 Jul 20:26
    • USITC opens antidumping probes of welded pipe
    • Houston, 22 July (Argus) — The US International Trade Commission (USITC) has launched antidumping and countervailing duty investigations of heavy wall rectangular welded carbon steel pipes and tubes imported from South Korea, Mexico and Turkey. The investigations stem from a petition
    • Read more
    • NEWS | 22 Jul 19:25
    • US Steel Canada to lose $260mn by Sept.
    • Pitsburg, Kansas, 22 July (Argus) — US Steel Canada continued to lose money since filing for protection under Canada's Companies' Creditors Arrangements Act last September and will lose more than C$260mn ($200mn) by 11 September when its current creditor protection expires. The monit
    • Read more
    • NEWS | 22 Jul 18:29
    • Lower prices, premiums dent Norsk Hydro earnings
    • Washington, 22 July (Argus) — Falling premiums hurt Norsk Hydro's second quarter results, as the aluminium company projects a surge of exports from China will generate a global supply overhang of 0.5-1mn t this year. Norsk Hydro was not immune to the nearly 50pc drop in premiums thro
    • Read more
    • NEWS | 22 Jul 17:48
    • Latin American steel output down, imports up
    • Houston, 22 July (Argus) — Finished steel production in Latin America fell by 2pc in the first half of 2015, while finished steel imports surged by 11pc in the first five months of the year. Output of finished steel declined to 27.4mn t in Latin America in the first half from a year e
    • Read more
    • NEWS | 22 Jul 17:40
    • World steel output falls
    • London, 22 July (Argus) — Global crude steel production fell by 2.4pc year on year in June to 135.6mn t and by 2pc in the first six months of this year to 813mn t. World Steel Association statistics show Chinese production decreased slightly, by 0.8pc year on year to 68.95mn t in June
    • Read more
    • NEWS | 22 Jul 16:56
    • Codelco: Most divisions operating normally: Update
    • Updates from company on status of operations Sao Paolo, 22 July (Argus) — Codelco, Chile's state-controlled copper-molybdenum producer says seven of its eight divisions are working normally with the exception of Salvador after protesting contract workers blocked off access roads lea
    • Read more
    • NEWS | 22 Jul 16:49
    • US military selling ferro-chrome stocks
    • New York, 22 July (Argus) — The US military has nearly 4,000 short tons (st) of high-carbon and 2.8mn lbs of low-carbon ferro-chrome inventories available for sale this month. The US defence department's procurement arm, the Defense Logistics Agency, is offering 3,968st of Cr65.03pc a
    • Read more
    • NEWS | 22 Jul 16:44
    • US military selling ferro-chrome stocks
    • New York, 22 July (Argus) — The US military has nearly 4,000 short tons (st) of high-carbon and 2.8mn lbs of low-carbon ferro-chrome inventories available for sale this month. The US defence department's procurement arm, the Defense Logistics Agency, is offering 3,968st of Cr65.03pc a
    • Read more
    • NEWS | 22 Jul 16:22
    • Faults highlight lithium-ion battery issues
    • London, 22 July (Argus) — Problems with fire risks and charging faults in recent days have highlighted potential safety issues with lithium-ion batteries. Boeing has warned its customer airlines against carrying bulk shipments of lithium-ion batteries in the hold, citing known fire r
    • Read more
    • NEWS | 22 Jul 16:17
    • Steel Dynamics sees hot rolled back at $500/nt
    • Houston, 22 July (Argus) — US steel producer Steel Dynamics sees domestic hot rolled coil prices reaching the $480-500/net ton level, especially with antidumping duties expected to take effect later this year on corrosion-resistant steel. "Domestic pricing overcorrected to some degree
    • Read more
    • NEWS | 22 Jul 15:41
    • RTI shareholders approve Alcoa metals takeover
    • London, 22 July (Argus) — Aluminium producer Alcoa expects its acquisition of US titanium manufacturer RTI International Metals to close 23 July, as RTI shareholders have approved the deal. Alcoa will exchange 2.8315 shares for each RTI stakeholding, it said. The takeover is Alcoa's l
    • Read more
    • NEWS | 22 Jul 15:16
    • Codelco: Protests costing $27mn a day
    • Sao Paolo, 22 July (Argus) — Codelco, Chile's state-controlled copper-molybdenum producer has called on contract workers to attend urgent talks after they blocked off access roads leading to five of the company's sites in the early hours of 21 July. Roads leading to Codelco's Chuquica
    • Read more
    • NEWS | 22 Jul 15:12
    • North American Tungsten administrators seek buyers
    • 22 July (Argus) — Court appointed monitors overseeing the financial affairs of Canada's North American Tungsten have launched a process aimed at attracting investors or buyers for the business. The process has been approved by the British Columbia Supreme Court, which has also extende
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    • NEWS | 21 Jul 21:37
    • Workers strike at Codelco operations across Chile
    • Houston, 21 July (Argus) — The union representing 48,000 workers at Chile's state-owned copper miner Codelco, the world's largest, today blocked access and halted production at all but one of the company's divisions in a strike aimed at pressuring the company to negotiate. Manuel Ahum
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    • NEWS | 21 Jul 21:27
    • Steel union says ArcelorMittal seeks cuts: Update
    • Adds ArcelorMittal comments throughout Houston, 21 July (Argus) — Steelmaker ArcelorMittal USA has proposed a three-year contract to the United Steelworkers (USW) that the union said aims to freeze wages and cut benefits. The steelmaker said today it aims to "achieve parity" with
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    • NEWS | 21 Jul 18:28
    • LME settles aluminium users' anti-trust appeal
    • Washington, 21 July (Argus) — The Hong Kong Exchanges (HKEx) and the London Metal Exchange (LME) have settled a class-action lawsuit in which aluminium purchasers and consumers alleged anti-competitive and monopolistic behaviour in LME warehousing in connection with aluminium prices.
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    • NEWS | 21 Jul 17:43
    • Steel union says ArcelorMittal proposes cuts
    • Houston, 21 July (Argus) — The United Steelworkers (USW) union received an initial contract proposal from steelmaker ArcelorMittal USA for a three-year contract with no wage increases, reductions in incentive pay and reduced health care benefits. ArcelorMittal also proposed a two-tier
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    • NEWS | 21 Jul 17:35
    • LME molybdenum bounces in volatile trading
    • London, 21 July (Argus) — The London Metal Exchange (LME) cash molybdenum price has jumped by around 33pc in the past week amid renewed buying in the physical sector. The LME officially closed molybdenum cash prices at $12,300-12,800/t yesterday, up from an all-time low of $8,750-9,2
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    • NEWS | 20 Jul 23:27
    • Steel Dynamics profit thins amid lower prices
    • Houston, 20 July (Argus) — US-based Steel Dynamics' shipments rose in the second quarter from a year earlier, reflecting its acquisition of the Columbus steelworks from Russia's Severstal group last year, while ferrous costs declined faster than average sales price. Indiana-based Stee
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    • NEWS | 20 Jul 20:56
    • US steel output drops by 8.4pc
    • Houston, 20 July (Argus) — US domestic raw steel production fell by 8.4pc to 1.75mn net tons (nt) (1.6mn metric tonnes) in the week ended on 18 July from the same week a year earlier, while capacity utilization fell to 73.3pc. Production was down from 1.91mn nt a year earlier, when ca
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    • NEWS | 20 Jul 20:47
    • Texas signs JV processing deal with K-Tech
    • Houston, 20 July (Argus) — US-based miner Texas Rare Earth Resources (TRER) has signed a definitive joint venture agreement with K-Technologies to form a rare earths processing technology company. The JV will licence K-Techs' Continuous Ion Exchange (CIX) and continuous Ion Chromatolo
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    • NEWS | 20 Jul 20:34
    • Toyota Tsusho acquires Bermco Aluminum
    • Houston, 20 July (Argus) — Toyota Tsusho America has completed its acquisition of Bermco Aluminum, adding a secondary smelter to its fleet for a total of five in North America. Toyota Tsusho America, a trading unit of the Japan-based Toyota Group, said Bermco's business would be "oper
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    • NEWS | 20 Jul 16:56
    • US aluminium shipments rise, months’ supply down
    • US aluminium shipments rise, months' supply down Houston, 20 July (Argus) — US service center shipments of aluminium products rose by 3.8pc in June from a year earlier while the months' supply of inventory on hand fell. Shipments of aluminium products rose to 143,000 net tons (nt) (129
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    • 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
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    • 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, do
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    • 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
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    • 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
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    • 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.
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Market Talk (GMT)

    • NEWS | 29 Jul 21:00
    • DJ Canada P-E Deal Activity Down Sharply in 2Q -- Market Talk
    • 17:00 EDT - Total value of private equity deals in Canada falls 68% in 2Q from the year-ago period while the number of transactions drops 21%, according to the Canadian Venture Capital and Private Equity Association. The declines suggest PE investors aren t convinced oil prices in particular ar
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    • NEWS | 29 Jul 17:27
    • DJ Fitch: Miners Will Cope With $1,000/Ounce Gold -- Market Talk
    • 13:27 EDT - A pronounced decline in mining costs will help gold firms weather an extended period of $1,000/troy ounce prices, says Fitch, which thinks most of the miners it rates are likely to retain their current ratings at that price through 2018. It notes Russian gold companies have reporte
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    • NEWS | 29 Jul 17:08
    • DJ Mounting Copper Disruptions May Lift Prices -- Market Talk
    • 13:08 EDT - A string of operational problems at copper mines in recent days is reminiscent of earlier this year, when disruptions to output at some of the world s largest mines catapulted prices higher, notes ICBC Standard Bank s Leon Westgate. An electricity shortage is threatening to curb sup
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    • NEWS | 29 Jul 16:15
    • DJ Energy Slump Stalling Railroad Activity -- Market Talk
    • 12:15 EDT - Railroads report another tough week as total US traffic fell 2.5% compared to the same week a year ago. According to the Association of American Railroads, total carloads for the week ended July 25 dropped 6.7% to 286,660. Intermodal growth of 2.3% to 270,952 trailers and containers
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