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Current News Search

Metal News & Reports (GMT)

    • NEWS | 27 Jul 15:11
    • Chile's Antofagasta advances Antucoya copper mine
    • London, 27 July (Argus) — Chilean copper and molybdenum producer Antofagasta has advanced the ramp-up of its Antucoya copper mine in northern Chile, with 14,400t produced in April-June, up by 13pc quarter on quarter. The firm expects full 85,000t/yr capacity to be reached in the second
    • Read more
    • NEWS | 27 Jul 14:40
    • DJ Comex Futures Open Interest
    • DJ Comex Futures Open Interest - Jul 27 Data for previous business day. Open Interest subject to revision. Source: CME Group Gold Open Open Interest Change Silver Interest Change GC N16 17
    • Read more
    • ANALYSIS | 27 Jul 14:18
    • Environmental inspection affect Mn alloy supply, prices
    • Beijing, 27 July (Argus) — Manganese alloy production in China has fallen as a number of alloy furnaces have shut down or avoided producing because of environmental inspections. Beijing launched environmental inspections in Ningxia, Inner Mongolia, Jiangsu, Jiangxi, Yunnan, Heilongjiang
    • Read more
    • NEWS | 27 Jul 13:18
    • China vanadium pentoxide exports up, other alloys fall
    • Beijing, 27 July (Argus) — Chinese vanadium pentoxide exports rose by 15pc to 3,796t in the first half of 2016 from 3,287t a year earlier, but June exports fell by 21pc to 400t. The half-year increase was driven by higher demand from Europe, as a result of a drop in supplies from South A
    • Read more
    • NEWS | 27 Jul 13:12
    • JSW Steel’s profit up nearly tenfold
    • JSW Steel's profit up nearly tenfold London, 27 July (Argus) — Indian steelmaker JSW Steel made a profit of 10.82bn rupees ($161mn) in the April-June quarter, nearly 10 times higher than a year earlier, driven by higher sales. Sales hit a record quarterly high of 3.34mn t in April-June
    • Read more
    • NEWS | 27 Jul 12:05
    • DJ Comex Futures Volume
    • DJ Comex Futures Volume - Jul 27 For previous business day. In contracts. Source: CME Group Composite Composite Globex Gold Volume Globex Silver Volume Volume GC N16 63 63 SI N16 171
    • Read more
    • NEWS | 27 Jul 12:03
    • DJ Comex Globex Final Volumes
    • DJ Comex Globex Final Volumes - Jul 27 For previous business day, in contracts. Source: CME Group Futures Gold 299,201 Silver 36,291 Copper 60,455 Write to Linda Rice at csstat@dowjones.com (END) Dow Jones Newswires July 27, 2016 0
    • Read more
    • NEWS | 27 Jul 11:47
    • Minera Autlan restarts idled SiMn plant
    • London, 27 July (Argus) — Mexico's Minera Autlan, the biggest manganese alloys maker in North America, has restarted its idled silico-manganese Gomez Palacio plant in the country after a 12-month shutdown. The company shut the plant about 12 months ago, initially for planned maintenanc
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    • NEWS | 27 Jul 11:40
    • De Grey flags Au/Ag/Zn/Pb/Cu resource
    • Johannesburg, 27 July (Argus) — Australian base and precious metals explorer De Grey Mining has discovered a shallow, high grade gold-silver-zinc-lead-copper oxide resource at the Discovery prospect within in its Turner River project in the Pilbara region of Western Australia. The compa
    • Read more
    • NEWS | 27 Jul 11:38
    • Poseidon/Kidman enter Li processing agreement
    • Johannesburg, 27 July (Argus) — Australian mining companies Poseidon Nickel and Kidman Resources have entered into an agreement to process lithium ore produced at the Mt Holland project in Western Australia. The agreement provides for Kidman to make use of Poseidon Nickel's 1.5mn t/yr L
    • Read more
    • NEWS | 27 Jul 11:03
    • Chinese stainless mill Tisco guides for 1H profit rise
    • Beijing, 27 July (Argus) — China's largest stainless steel producer Taiyuan Iron and Steel Group (Tisco) has forecast a surge in January-June profit to 286mn-317mn yuan ($32mn-48mn), from Yn63.92mn a year earlier. Tisco attributes the large expected rise in profit to a price recovery i
    • Read more
    • NEWS | 27 Jul 10:19
    • Chile's Antofagasta advances Antucoya copper mine
    • London, 27 July (Argus) — Chilean copper and molybdenum producer Antofagasta has advanced the ramp-up of its Antucoya copper mine in northern Chile, with 14,400t produced in April-June, up by 13pc quarter on quarter. The firm expects full 85,000t/yr capacity to be reached in the second
    • Read more
    • NEWS | 27 Jul 09:57
    • China's gold consumption falls in January-June
    • Beijing, 27 July (Argus) — Chinese gold consumption fell by 7.7pc year on year to 528.52t in the first half of 2016, as rising investment demand was unable to offset shrinking physical demand. Demand from the jewellery industry, the biggest consumer, fell by 13.8pc on the year to 340.6
    • Read more
    • NEWS | 26 Jul 22:57
    • US steel imports fall in June
    • Houston, 26 July (Argus) — US steel product imports fell by 8.6pc in June from the prior month, while finished steel imports were up by 6.3pc, led by increases in imports from Turkey and Japan. Finished steel imports totaled 2.22mn net tons (2.01mn metric tonnes) in June from 2.09mn nt
    • Read more
    • COMMENTARY | 26 Jul 22:51
    • Copper: Cathode, scrap battle weak markets
    • Houston, 26 July (Argus) — Copper cathode premiums and scrap prices traded in narrow ranges and thin volumes in Asia and Europe in the latest week amid weak summer demand and consistent oversupply of metal. Grade A copper cathode premiums increased to $30-40/t in warehouse Rotterdam in
    • Read more
    • NEWS | 26 Jul 22:44
    • US Steel forecasts higher prices in second half of 2016
    • Houston, 26 July (Argus) — Pittsburgh-based US Steel expects "better" averaged realized steel prices during the second half of the year primarily in its flat-rolled and European segments. Should current market conditions hold, US Steel expects approximately $50mn in net earnings for 201
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    • NEWS | 26 Jul 22:39
    • US aluminum scrap: Mill grade spreads mixed
    • Houston, 26 July (Argus) — Mill-grade aluminum scrap spreads were mixed Tuesday from a week earlier amid declines in exchange prices and reduced demand from consumers. Spreads widened for segregated clips as some mills are ahead of their buying goals amid planned maintenance outages. P
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    • NEWS | 26 Jul 22:39
    • Accuride predicts slowing heavy truck output
    • Houston, 26 July (Argus) — Indiana-based wheelmaker Accuride reduced its 2016 forecast for North American class 8 truck output in its latest earnings, in addition to lowering expectations for annual sales. Accuride cut projections for the production of class 8 vehicles, the largest cat
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    • NEWS | 26 Jul 21:42
    • Southern Copper’s output rises as prices fall
    • Southern Copper's output rises as prices fall Houston, 26 July (Argus) — US-based Southern Copper is expecting to boost output at the Buenavista project to 500,000t next year following completion of the $3.2bn expansion and infrastructure buildout. The company's copper mine output rose b
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    • NEWS | 26 Jul 21:20
    • AK Steel shipments fall in latest quarter
    • Houston, 26 July (Argus) — US steelmaker AK Steel's product shipments fell by 14pc in the second quarter of 2016 from a year prior as the company continued its strategy of reducing its exposure to the commodity carbon steel spot market. The Ohio-based steelmaker shipped 1.56mn net tons
    • Read more
    • NEWS | 26 Jul 20:41
    • United Technologies raises 2016 forecast
    • New York, 26 July (Argus) — Connecticut-based aerospace manufacturer United Technologies has increased its annual revenue forecast amid stronger organic sales. United revised its annual revenue forecast to $57-58bn from $56-58bn in the first quarter. The company expects organic sales gr
    • Read more
    • NEWS | 26 Jul 20:30
    • Outokumpu expects US stainless steel demand to drop
    • Houston, 26 July (Argus) — Finish stainless steel producer Outokumpu expects stainless steel real demand in the Americas to drop by 4.4pc between July and September, when compared to the prior quarter. The company expects global stainless steel real demand to decrease by 1pc in the thir
    • Read more
    • NEWS | 26 Jul 19:59
    • Southern Copper eyes Tia Maria Cu start up in 2020
    • London, 26 July (Argus) — Southern Peru Copper (SPCC) expects its delayed 120,000 t/yr Tia Maria copper cathode project in Peru to be fully operational in 2020. SPCC has budgeted $375mn in capital expenditures for the Tia Maria project in 2017 and has provisionally revised down its orig
    • Read more
    • NEWS | 26 Jul 19:52
    • ATI expects late year profitability for flat products
    • Houston, 26 July (Argus) — US specialty metals producer Allegheny Technologies (ATI) expects its flat rolled products segment to be "modestly profitable" in the fourth quarter of 2016 after the segment's sales dropped by 39pc in the second quarter of 2016. ATI's shipments of standard f
    • Read more
    • NEWS | 26 Jul 19:14
    • Caterpillar expects continued weakness in second half
    • New York, 26 July (Argus) — Illinois-based mining and earthmoving equipment manufacturer Caterpillar cut its annual sales forecast amid continued global uncertainty and higher restructuring costs. Caterpillar reduced its annual revenue forecast to $40-40.5bn from an initial forecast of
    • Read more
    • NEWS | 26 Jul 18:46
    • Freeport-McMoRan copper sales rise
    • Houston, 26 July (Argus) — Diversified miner Freeport-McMoRan's consolidated copper sales rose by 15pc from a year earlier, primarily reflecting higher volumes from its Cerro Verde mine in Peru. Second quarter copper sales totaled 1.1bn lbs, compared with 964mn lbs a year earlier. Sales
    • Read more
    • NEWS | 26 Jul 18:05
    • BIR calls for China to cut steel output, not capacity
    • London, 26 July (Argus) — China needs to start talking about "cuts in steel production rather than capacity", the Bureau of International Recycling (BIR) said today. Capacity cutbacks alone have no impact on output and "will not move the needle", BIR ferrous division president William Sc
    • Read more
    • NEWS | 26 Jul 17:57
    • UBS predicts 2H oversupply to cap iron ore, coal prices
    • London, 26 July (Argus) — Swiss bank UBS expects higher than expected prices for iron ore and metallurgical coal to be capped by increased supply and seasonally lower demand from the steel industry in the second half of this year. "Better demand, some supply discipline and stabilising c
    • Read more
    • NEWS | 26 Jul 17:52
    • Outokumpu to cut FeCr production in 3Q
    • London, 26 July (Argus) — Finnish ferro-chrome producer Outokumpu will cut production about 30pc in the current quarter because of planned maintenance at its biggest furnace, the company said. The company produced 135,000t of ferro-chrome in the second quarter of 2016, and the producti
    • Read more
    • COMMENTARY | 26 Jul 17:42
    • Turkish scrap: Import price breaches $230/t cfr
    • London, 26 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has moved up $2/t to $231/t cfr Turkey, on the back of the assessment of a continental European sale into Turkey this morning. A continental European supplier sold 22,000t of HMS 1/2 75:25, 5,000
    • Read more
    • NEWS | 26 Jul 17:36
    • Philippines considers ore export ban
    • London, 26 July (Argus) — The new speaker of the Philippines House of Representatives Pantaleon Alvarez has called for the country to introduce a ban on unrefined ore exports similar to the one brought in by Indonesia in 2014. The decision could potentially affect exports of nickel ore
    • Read more
    • NEWS | 26 Jul 17:24
    • Turkish steelmaker Yolbulan and Kibar stop bankruptcy
    • London, 26 July (Argus) — Turkish steelmaker Yolbulan and steel trading company Kibar Dis Ticaret have signed a profit-sharing agreement, enabling Yolbulan to return to full production capacity. Under the deal, signed on 20 June, Yolbulan will re-roll billet imported by Kibar into merch
    • Read more
    • NEWS | 26 Jul 17:10
    • Noranda zinc production rises, sales decline in quarter
    • Houston, 26 July (Argus) — Investment trust Noranda Income Fund, which has zinc processing operations in Canada, increased it zinc production and lowered its zinc metal sales in the second quarter of 2016 from a year earlier. Zinc production totaled 69,289t in the second quarter of 2016
    • Read more
    • COMMENTARY | 26 Jul 16:53
    • US minor metals: Silicon unchanged on low demand
    • New York, 26 July (Argus) — US silicon metal prices settled unchanged in the latest week amid infrequent spot market trading. Silicon metal (Si 98.5pc) prices were flat at 89-93¢/lb for a second straight week. US and Canadian aluminum smelters were largely absent from the spot market am
    • Read more
    • COMMENTARY | 26 Jul 16:49
    • US minor metals: Cobalt up as demand outpaces supply
    • New York, 26 July (Argus) — US high-grade cobalt prices were up for a fourth week amid limited near-term supplies and strong forward demand. High-grade cobalt (Co 99.8pc) prices rose to $11.75-12.20/lb from $11.75-12.00/lb a week earlier. Stronger than expected demand for cobalt deliver
    • Read more
    • NEWS | 26 Jul 16:36
    • Mueller Industries sales fall on lower copper prices
    • Houston, 26 July (Argus) — Revenues at US-based industrial manufacturer Mueller Industries fell by 2.2pc in the second quarter as higher sales volumes helped absorb a 23pc decline in copper prices. Revenues were $544mn compared with $555.6mn a year earlier, the Tennessee-based producer
    • Read more
    • NEWS | 26 Jul 16:00
    • World Bank raises 2016 oil price forecast
    • Washington, 26 July (Argus) — The World Bank has increased its 2016 crude price forecast by $2/bl to $43/bl and projects that oversupply in the market should diminish and then vanish later this year. Recent supply disruptions, which occurred while demand continued to increase, narrowed
    • Read more
    • NEWS | 26 Jul 15:50
    • Dark Horse acquires Argentinian lithium explorer
    • Johannesburg, 26 July (Argus) — Australia's Dark Horse Resources has agreed terms to acquire 100pc of Oronegro which has exclusive rights to explore for lithium and strategic minerals in the San Luis and Cordoba provinces of Argentina. Oronegro has an exclusivity agreement to acquire th
    • Read more
    • NEWS | 26 Jul 15:32
    • Sherritt 2Q loss widens on lower Ni, oil prices
    • London, 26 July (Argus) — Canadian mining company Sherritt International widened its loss in the second quarter as lower nickel and oil prices hit revenue, which dropped by 24pc year on year. And lower than expected output from the 40pc-owned Ambatovy joint venture in Madagascar has let
    • Read more
    • NEWS | 26 Jul 14:55
    • Copper capacity to grow 4pc/yr
    • London, 26 July (Argus) — Based on existing facilities and announced project developments copper mine capacity is expected to grow at an average rate of around 4pc a year to reach 26.5mn t/yr in 2019, according to the International Copper Study Group (ICSG). This is an increase of 3.9m
    • Read more
    • NEWS | 26 Jul 14:55
    • Global copper capacity to grow
    • London, 26 July (Argus) — Based on existing facilities and announced project developments copper mine capacity is expected to grow at an average rate of around 4pc/yr to reach 26.5mn t/yr in 2019, according to the International Copper Study Group (ICSG). This is an increase of 3.9mn t
    • Read more
    • NEWS | 26 Jul 14:55
    • Global copper mine capacity to grow
    • London, 26 July (Argus) — Based on existing facilities and announced project developments copper mine capacity is expected to grow at an average rate of around 4pc/yr to reach 26.5mn t/yr in 2019, according to the International Copper Study Group (ICSG). This is an increase of 3.9mn t
    • Read more
    • NEWS | 26 Jul 14:39
    • Platypus gains option for Quebec lithium project
    • Johannesburg, 26 July (Argus) — Australia's Platypus Minerals has signed an option to acquire a majority stake in the Royal lithium project in Quebec, Canada. The project comprises five contiguous claims spread over 286 hectares. It is 4km from the Quebec Lithium Mine which has a minera
    • Read more
    • NEWS | 26 Jul 14:39
    • Platypus gains option for Quebec lithiium project
    • Johannesburg, 26 July (Argus) — Australia's Platypus Minerals has signed an option to acquire a majority stake in the Royal lithium project in Quebec, Canada. The project comprises five contiguous claims spread over 286 hectares. It is 4km from the Quebec Lithium Mine which has a minera
    • Read more
    • COMMENTARY | 26 Jul 14:34
    • LME minors: Cobalt extends gains, Mo falls
    • London, 26 July (Argus) — London Metal Exchange (LME) cobalt has moved higher in the past couple of weeks as increased consumer demand in the longer term is prompting short covering among traders on a spot basis. Molybdenum prices are moving in the opposite direction amid lower demand in
    • Read more
    • NEWS | 26 Jul 14:15
    • India’s Moil get mining lease for Bharveli Mn mine
    • India's Moil get mining lease for Bharveli Mn mine Mumbai, 26 July (Argus) — Indian state-owned manganese ore producer Moil has obtained a lease for a mining project in Bharveli Awalajhari in the central state of Madhya Pradesh. The mining lease covers an area of over 53 hectares in the
    • Read more
    • NEWS | 26 Jul 11:58
    • India to auction 100 mineral blocks for exploration
    • Mumbai, 26 July (Argus) — India plans to auction 100 blocks for the exploration of minerals including, among others, iron ore, manganese and chromite, under the first phase of the new national mineral exploration policy (NMEP) . The 100 blocks include 6 blocks of iron ore, 5 blocks of
    • Read more
    • NEWS | 26 Jul 11:39
    • Indium leads China’s minor metal exports in 1H
    • Indium leads China's minor metal exports in 1H Beijing, 26 July (Argus) — Chinese indium exports soared to 98,357kg in January-June from 32,182kg a year earlier, Chinese customs data show. China exported 21,235kg of indium in June, up by 113pc from 9,970kg a year earlier. This massive i
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    • COMMENTARY | 26 Jul 10:51
    • Chinese Pr/Nd and Gd prices continue to soften
    • London, 26 July (Argus) — Chinese praseodymium-neodymium and gadolinium markets have extended losses, as some suppliers have cut prices to generate sales amid subbed market conditions. Dysprosium and terbium prices have been rangebound in the past few days as producers withhold material
    • Read more
    • NEWS | 26 Jul 10:36
    • Peak's Ngualla RE study due in 1Q 17
    • Johannesburg, 26 July (Argus) — Perth-based Peak Resources expects to complete a bankable feasibility study at its Ngualla rare earths project in Tanzania in the first quarter of 2017 and has commissioned the final pilot plant for the project. The company said a specific leach process i
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    • NEWS | 26 Jul 10:36
    • Tanzania rare earths study due in Q1 2017
    • Johannesburg, 26 July (Argus) — Perth-based Peak Resources expects to complete a bankable feasibility study at its Ngualla rare earths project in Tanzania in the first quarter of 2017 and has commissioned the final pilot plant for the project. The company said a specific leach process i
    • Read more
    • NEWS | 26 Jul 10:26
    • Queensland Mining updates Cu mineral resource
    • Johannesburg, 26 July (Argus) — Australia's Queensland Mining has updated the mineral resource at its Young Australian copper deposit near Cloncurry in Queensland. The company said the deposit's indicated and inferred mineral resource now stands at 5.1mn t grading 0.79pc copper with a c
    • Read more
    • NEWS | 26 Jul 10:19
    • Inspections, flooding cut Chinese molybdenum output
    • Beijing, 26 July (Argus) — China's molybdenum production has fallen as a result of environmental inspections and flooding. Heavy rains in northeastern China, one of the largest molybdenum producing regions, have disrupted mining operations. Producers have raised their offer prices and a
    • Read more
    • NEWS | 25 Jul 22:17
    • Court sets date in Aluminicaste civil case
    • Houston, 25 July (Argus) — A northern district of Mississippi court has selected a date for a civil trial concerning a payment dispute between Mexican extrusion billet producer Aluminicaste and US-based consumer Aluminum Extrusions (AEI). Judge Sallie Wilkerson has set a date of 24 July
    • Read more
    • NEWS | 25 Jul 20:51
    • US, Canadian aluminum mill product orders up in June
    • Houston, 25 July (Argus) — US and Canadian orders of aluminum mill products increased by 3.5pc in June from a year earlier, carried by increases in demand for flat-rolled aluminum. Measured on an index prepared by the Aluminum Association, June mill product orders rose to 114.4 from 110
    • Read more
    • NEWS | 25 Jul 20:20
    • Great Lakes region drives US raw steel output lower
    • Houston, 25 July (Argus) — US raw steel production fell by 2.5pc in the week ending 23 July compared to a week earlier, led by falling production in the Great Lakes region. Output in the latest week decreased to 1.70mn net tons (1.54mn metric tonnes) from 1.75mn nt a week earlier. Capa
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    • NEWS | 25 Jul 17:46
    • Riotinto copper mine output up in 2Q
    • London, 25 July (Argus) — Copper concentrate production at the historic Riotinto mine in Spain, reopened by AIM-listed Atalya Mining increased by 10pc in the second quarter 2016 to 4,442t from 4,048t in the first quarter. The increase came despite shutdowns due to a two-week administrat
    • Read more
    • NEWS | 25 Jul 17:46
    • Rio Tinto copper mine output up in 2Q
    • London, 25 July (Argus) Copper concentrate production at the historic Riotinto mine in Spain, reopened by AIM-listed Atalya Mining increased by 10pc in the second quarter 2016 to 4,442t from 4,048t in the first quarter. The increase came despite shutdowns due to a two-week administrative su
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    • NEWS | 25 Jul 17:37
    • W Resources gets Portuguese exploration licence
    • London, 25 July (Argus) — UK-based tungsten miner W Resources has been granted the Monforte-Tinoca exploration licence in southern Portugal, which contains the former Tinoca and Azeiteiros copper mines. W Resources said the licence is highly prospective not only for copper but also tung
    • Read more
    • NEWS | 25 Jul 17:26
    • Amur Minerals progresses Ni feasibility study
    • London, 25 July (Argus) — AIM-listed miner Amur Minerals said it is working to complete a definitive feasibility study (DFS) on its Kun-Manie nickel-polymetallic project in far-eastern Russia by 31 December, 2017. It has already completed parts of the DFS including the geological assess
    • Read more
    • COMMENTARY | 25 Jul 17:26
    • US ferro-alloys: FeCr steady amid low stainless demand
    • New York, 25 July (Argus) — US high carbon ferro-chrome prices traded flat in the past week amid seasonal outages at stainless steel mills. US high carbon ferro-chrome (Cr 60pc C 6-8pc) was unchanged at 84-89¢/lb for a second week. Stainless steel mills purchased few 20t lots of high ca
    • Read more
    • COMMENTARY | 25 Jul 17:17
    • Turkish scrap: Price inches up close to $230/t cfr
    • London, 25 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has moved up $1/t to $229/t cfr Turkey on the back of the latest deals, bids and offers into Turkey. A US supplier was confirmed to have sold 8,000t of HMS 1/2 80:20 at $229/t, 13,000t of shred a
    • Read more
    • NEWS | 25 Jul 16:49
    • BMA tipped to win Anglo coking coal mine bid
    • London, 25 July (Argus) — The BHP Mitsubishi Alliance (BMA) joint venture between UK-Australian resources group BHP Billiton and Japanese trading firm Mitsubishi is expected to be announced as the winning bidder for UK-South African mining group Anglo American's Grosvenor and Moranbah No
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    • NEWS | 25 Jul 15:46
    • Bushveld agrees reduced purchase price for Vametco
    • London, 25 July (Argus) — South Africa-focused AIM-listed miner Bushveld Minerals has negotiated a lower purchase price and amended terms for its acquisition of multinational mining group Evraz's interest in Vametco vanadium mine and processing plant in South Africa. Under the agreemen
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    • NEWS | 25 Jul 15:37
    • UK manufacturers wary after EU vote
    • London, 25 July (Argus) — UK manufacturing saw an upturn in output and orders in the three month to July, but business optimism fell at the fastest rate since 2009 after the referendum on EU membership, said the Confederation of British Industry (CBI). The CBI's latest quarterly survey
    • Read more
    • NEWS | 25 Jul 15:06
    • Indonesia's tin shipments up 42pc in June
    • London, 25 July (Argus) — Indonesian tin exports rose sharply in June, up 42pc on the month to 7,652t, the highest amount this year. But this is still 8pc less than the country exported in June 2015. Last month's increase is more pronounced than usual because exports earlier this year w
    • Read more
    • NEWS | 25 Jul 14:49
    • Cu output falls at Namibia's Tschudi mine
    • Johannesburg, 25 July (Argus) — Namibian copper producer Weatherly International saw cathode output at its open pit Tschudi mine fall by 630t or 14pc to 3,812t in the June quarter. The company said its costs rose to $4,689/t due to lower output which was mainly due to difficulties manag
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    • NEWS | 25 Jul 14:49
    • Cu output falls at Namibia's Tschudii mine in June qtr
    • Johannesburg, 25 July (Argus) — Namibian copper producer Weatherly International saw cathode output at its open pit Tschudi mine fall by 630t or 14pc to 3,812t in the June quarter. The company said its costs rose to $4,689/t due to lower output which was mainly due to difficulties manag
    • Read more
    • NEWS | 25 Jul 12:52
    • India’s OMC raises base prices for chrome ore tender
    • India's OMC raises base prices for chrome ore tender Mumbai, 25 July (Argus) — Odisha state–controlled mining firm OMC has increased its base prices for various chrome ore grades by 16-19pc from last month, in a tender to sell 95,270t of chrome ore and concentrate. OMC is offering to sel
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    • NEWS | 25 Jul 12:43
    • Latin America boosts steel exports, local demand wanes
    • London, 25 July (Argus) — Latin America's steel exports increased by 12pc year on year in January-May, preliminary data from Latin American steel association Alacero show, as declining local consumption compelled producers to redirect tonnage overseas. Latin America exported 3.6mn t of
    • Read more
    • NEWS | 25 Jul 11:48
    • Kaz cuts Aktogay copper project cost
    • London, 25 July (Argus) — London-listed Kazakh copper miner Kaz Minerals said it has reduced the projected capital cost for its Aktogay project by $100mn to $2.2bn after a review. The project has benefited from the experience gained at its sister project Bozshakol, where production fro
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    • NEWS | 25 Jul 11:06
    • Lithium processing facility eyed for Malaysia
    • Johannesburg, 25 July (Argus) — Perth-based Pilbara Minerals has entered into an agreement with China's General Lithium Corporation to consider developing a downstream lithium oxide and carbonate processing facility in Malaysia. Pilbara Minerals has an offtake agreement to supply 140,00
    • Read more
    • NEWS | 25 Jul 11:02
    • Amplats' earnings down 58pc in 1H of 2016
    • Johannesburg, 25 July (Argus) — World leading platinum producer Anglo American Platinum (Amplats) has reported a 58pc drop in headline earnings to 1.04bn South African rand ($72.7mn) for the six months to 30 June on the back of lower platinum group metals output and weaker prices. The g
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    • NEWS | 25 Jul 10:59
    • Study nearing completion at Solomon Islands Ni project
    • Johannesburg, 25 July (Argus) — Queensland-based Axiom Mining is nearing completion of a pre-feasibility study on the Isabel nickel laterite ore project in the Solomon Islands. The company said the study includes the more advanced San Jorge deposits and the less advanced Kolosori deposi
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    • NEWS | 25 Jul 10:54
    • China's Changhong Magnesium to build new alloy plant
    • Beijing, 25 July (Argus) — Chinese private-sector Hebi Changhong Magnesium has obtained government approval for a new magnesium alloy plant. The plant is expected to cost Yn40mn ($6mn) and will have a production capacity of 10,000 t/yr. Construction is scheduled for completion in Decem
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    • ANALYSIS | 23 Jul 00:27
    • US ferrous markets likely to bottom in August
    • Houston, 23 July (Argus) — Market sentiment is mixed on US domestic ferrous scrap trade in August as mills expect to send prices a lot lower than dealers believe the market can bear. Early indications from mill buyers were bearish this week but dealers were quick to brush off any overly
    • Read more
    • ANALYSIS | 22 Jul 22:33
    • This Week in Metals: 18-22 July
    • Houston, 22 July (Argus) — The summer weather was the only thing traders described as hot this week, as spot metal markets hibernated amid seasonal shutdowns at steel mills. The US dollar rose to its highest level since March, pressuring prices of metals and other commodities and helpin
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    • NEWS | 22 Jul 20:46
    • US ferrous scrap exports to India soar with bulk sales
    • Houston, 22 July (Argus) — US ferrous scrap exports to India increased by 38pc in the first five months of this year due to a steady rise in bulk exports. Total US exports to India grew to 572,164 metric tonnes (t) up from 413,659t a year earlier, according to the US Commerce Departmen
    • Read more
    • NEWS | 22 Jul 20:17
    • SSAB expects slower US demand
    • SSAB expects slower US demand Houston, 22 July (Argus) — SSAB Americas expects demand for heavy plate to weaken in the current quarter as a result of seasonal plant maintenance outages and slowdowns. The Sweden-based steel processor said that demand improved during the second quarter of
    • Read more
    • COMMENTARY | 22 Jul 19:46
    • Oil futures: Crude falls as US drilling rig count rises
    • Houston, 22 July (Argus) — Crude prices fell today as the US drilling rig count rose for the fourth straight week, possibly prolonging the global oversupply as output recovers. Nymex September light, sweet crude futures fell by 56¢/bl to $44.19/bl, declining for a second day. Ice Septe
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    • COMMENTARY | 22 Jul 18:49
    • Turkish scrap: European sale trades at higher level
    • London, 22 July (Argus) — A continental European supplier sold a cargo of HMS 1/2 80:20 at $224/t cfr Izmir for August shipment today, according to market participants. The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up $3/t to $228.0/t on the assessment of the
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    • COMMENTARY | 22 Jul 18:26
    • Stainless steel: LME nickel pushes US scrap higher
    • Houston, 22 July (Argus) — US stainless steel scrap prices continued to rise this week as London Metal Exchange nickel prices hit a 2016-high this week. LME cash nickel prices closed at $10,655/metric tonne (t) today, up from $10,360/t a week earlier. Nickel has rallied 11.75pc this m
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    • NEWS | 22 Jul 17:57
    • Norislk completes sale of Bystrinsky stake
    • London, 22 July (Argus) — Russia's nickel miner Norilsk Nickel has completed the sale of a stake in its major new copper development to a consortium of Chinese investment funds and companies called Highland Fund. The $100mn deal was agreed in December last year and gives Highland Fund
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    • NEWS | 22 Jul 17:34
    • WEEK IN REVIEW: Markets quiet amid holiday shutdown
    • London, 22 July (Argus) — The summer weather was the only thing traders described as hot this week, as spot metal markets hibernated amid seasonal shutdowns at steel mills. The London Metal Exchange (LME) is having its new home fixed while the sun shines. Its traditional ring trading ha
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    • NEWS | 22 Jul 17:21
    • China’s Brazil iron ore imports rise fastest
    • China's Brazil iron ore imports rise fastest London, 22 July (Argus) — China's iron ore imports from Brazil rose by more than a fifth year on year in the first six months of 2016 to 101.86mn t, customs data show. The growth of imports from the world's second-largest iron ore-producing na
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    • NEWS | 22 Jul 17:06
    • New titanium-gold alloy developed for medical implants
    • London, 22 July (Argus) — A new super-hard titanium-gold alloy developed in the US could potentially replace conventional titanium implants, if widely adopted by medical practitioners. The alloy, referred to as beta-Ti3Au, was developed by a team of physicists at Rice University in Hous
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    • NEWS | 22 Jul 16:55
    • US secondary aluminum: Nasaac supports A380.1 prices
    • Houston, 22 July (Argus) — A380.1 prices remained flat for a fourth week but a sustained rise in London Metal Exchange pricing may help lift prices. A380.1 prices stayed at 83-85¢/lb as producers quoted aggressively, willing to lose sales rather than sell lower. LME North American Spe
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    • NEWS | 22 Jul 15:59
    • US stainless steel surcharges rise on nickel gains
    • Houston, 22 July (Argus) — US stainless steel producers increased nickel-based surcharges for August shipments for 304 and 316 (18-8) scrap solids as nickel prices reached 2016 highs. North American Stainless, AK Steel and Allegheny Technologies boosted surcharges on 304 material to 40.
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    • COMMENTARY | 22 Jul 15:49
    • LME copper flat, aluminium lower
    • London, 22 July (Argus) — London Metal Exchange (LME) copper traded barely changed on the week as large sell orders capped a move higher. Aluminium prices declined as a large amount of new material arrived in LME warehouses. Copper traded at $4,968/t, within 50 cents of last week's clo
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    • NEWS | 22 Jul 15:45
    • Grupo Simec ships less steel in first half
    • Houston, 22 July (Argus) — Mexican steel maker Grupo Simec's finished steel shipments dropped by 1pc in the first six months of the year from a year earlier as average sales prices fell. Grupo Simec's shipments totaled 1.1mn metric tonnes, 16,000t less than the 1.12mn t shipped the sam
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    • NEWS | 22 Jul 15:27
    • CSP unlikely to wean Dongkuk off merchant slab
    • London, 22 July (Argus) — The commissioning of Brazilian steelmaker Companhia Siderurgica do Pecem's (CSP) 3mn t/yr slab plant is not expected to end to Dongkuk Steel's purchases of slab from merchant slab suppliers, market sources told Argus . Dongkuk holds a 30pc stake in CSP, while
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    • NEWS | 22 Jul 14:47
    • Vital focuses on gold while tungsten project waits
    • London, 22 July (Argus) — Australian mining firm Vital Metals has focused on gold exploration while development of its Watershed tungsten project has been delayed. During the second quarter, ending June 2016, it identified gold exploration potential on a tenement that forms part of the
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    • NEWS | 22 Jul 14:43
    • Venezuelan military carves out oil, mining business
    • Caracas, 22 July (Argus) — Venezuela's military is courting foreign investors to set up joint ventures with its fledgling oil, gas and mining company Camimpeg, a potentially far-reaching enterprise born out of a deal with the unpopular government to ensure its loyalty, defense ministry a
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    • COMMENTARY | 22 Jul 14:40
    • LME nickel, zinc higher on deficit, supply disruption
    • London, 22 July (Argus) — Supply disruptions and a deficit in the global market lifted prices for London Metal Exchange (LME) nickel and zinc this week. Tin prices declined following a very fast rally last week while lead traded slightly lower on profit taking. Three-month nickel touch
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    • NEWS | 22 Jul 14:38
    • FinnAust Greenland ilmenite exploration approved
    • London, 22 July (Argus) — AIM-listed FinnAust Mining, which is developing the Pituffic titanium project in north-west Greenland has received approval from the country's Mineral Licence and Safety Authority for its 2016 exploration programme on the coastal site. The company is expecting
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    • COMMENTARY | 22 Jul 14:26
    • US ferro-alloys: FeMn up on small-volume orders
    • New York, 22 July (Argus) — US high carbon ferro-manganese prices increased during the latest week amid strong small-volume steel mill orders. US high carbon ferro-manganese (Mn 80pc, C 6-8pc) prices edged up to $810-860/gt from $810-840/gt a week earlier. Prices for medium carbon ferro
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    • NEWS | 22 Jul 14:23
    • Steelmaker Posco encouraged by signals from China
    • London, 22 July (Argus) — South Korean steelmaker Posco expects Chinese steel prices to hold steady in the third quarter as severe flooding is hampering production, and sees positive indications for pricing in the long-term based on the assumption that China will finally give in to globa
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    • NEWS | 22 Jul 13:45
    • Posco tips lower iron ore, stable coking coal prices
    • London, 22 July (Argus) — South Korean steelmaker Posco expects iron ore spot prices to soften slightly in the third quarter. The firm expects an average of $54/t cfr China for 62pc Fe fines, down from $56/t in the second quarter. It expects coking coal prices to remain at around $90/t
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    • NEWS | 22 Jul 12:20
    • Oz Minerals' Cu output falls in June quarter
    • Johannesburg, 22 July (Argus) — Australia's Oz Minerals produced less copper in the June quarter compared to the March quarter due to an unscheduled plant closure at its Prominent Hill mine. The company said copper output came to 27,350t, well down on the 31,018t produced in the March q
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    • NEWS | 22 Jul 12:12
    • Ukraine FeMn output higher in May
    • London, 22 July (Argus) — Bulk ferro-alloy output at Ukraine's largest smelters increased by 2.55pc in May compared with April to 91,780t on higher output of ferro-manganese, data from Ukrainian Ferroalloy Producers Association (UkrFA) showed. Output of silico-manganese, for which Ukrai
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    • NEWS | 22 Jul 11:47
    • China’s Western Mining to buy Qinghai Lithium
    • China's Western Mining to buy Qinghai Lithium Beijing, 22 July (Argus) — Chinese state-controlled non-ferrous metals producer Shanghai-listed Western Mining plans to acquire lithium producer Qinghai Lithium and the Sichuan Huidong Daliang Mining zinc and lead concentration plant. Wester
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    • NEWS | 22 Jul 10:55
    • Global Metals completes Zinc of Ireland acquistion
    • Johannesburg, 22 July (Argus) — Australia's Global Metals Exploration has completed the acquisition of Zinc Mines of Ireland Limited and has changed its name to Zinc of Ireland NL. The company said it will initially proceed with exploration at the Kildare project where zinc and lead min
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    • NEWS | 22 Jul 10:48
    • Yunhai seeks to sell die-casting Mg alloy to military
    • Beijing, 22 July (Argus) — Nanjing Yunhai Special Metals is applying for a certificate that will allow the firm to sell die-casting magnesium alloy for military use. The Chinese company has not started large-scale output but is producing for certification. Listed on the Shenzhen Stock
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    • NEWS | 22 Jul 10:39
    • Chinese producers raise ferro-manganese prices
    • Beijing, 22 July (Argus) — A number of Chinese private-sector producers have raised their offers for high-carbon ferro-manganese alloy, owing to tight supply availability and higher manganese ore prices. Henan Xinyang Ferroalloys has hiked its offers for high-carbon 65pc ferro-manganese
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    • NEWS | 22 Jul 09:20
    • Chinese mill profits support feedstock prices
    • Singapore, 22 July (Argus) — Production of construction-grade steel remains profitable in China despite the summer lull, supporting feedstock prices. Output limits in north China and rain in south China have shaved production runs, limiting the build-up of steel inventories over the sum
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    • NEWS | 21 Jul 22:47
    • Zinc maker Horsehead posts decline in revenues
    • Houston, 21 July (Argus) — Pittsburgh-based zinc manufacturer Horsehead Holding, which filed for bankruptcy in February, posted a 28pc decline in revenues in the first half of the year compared to the same period last year. Year-to-date sales were $161.8mn, down from $224.9mn in the fi
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    • NEWS | 21 Jul 22:39
    • US sets duties on cold-rolled steel from five countries
    • Houston, 21 July (Argus) — The US Commerce Department today levied combined final antidumping and countervailing duties as high as 64.68pc on certain cold-rolled steel flat products from one South Korean producer, and set lower duties on imports from four other countries. South Korean
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    • COMMENTARY | 21 Jul 22:38
    • Stainless steel: Scrap rises with LME nickel
    • Houston, 21 July (Argus) — Stainless steel scrap prices moved higher in Asian trade while 316 scrap solids gained in Europe on the back of higher nickel prices on the London Metal Exchange (LME). European stainless steel mill buying formulas have shifted in favor of the mills, allowing
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    • NEWS | 21 Jul 22:32
    • Court approves Noranda Aluminum upstream auction dates
    • Houston, 21 July (Argus) — Integrated smelter Noranda Aluminum, which declared bankruptcy in February, has received court approval of bidding rules for an auction of its upstream assets. Bids must be submitted by 15 September with the final hearing for a prospective sale planned for 27
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    • COMMENTARY | 21 Jul 22:30
    • US aluminum scrap: Secondary smelter grades unchanged
    • Houston, 21 July (Argus) — Smelter-grade aluminum scrap prices were flat this week as there were fewer suppliers and consumers in the market because of planned maintenance and summer holidays. Old cast aluminum scrap, a bellwether for grades purchased by secondary alloy smelters, remain
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    • NEWS | 21 Jul 22:11
    • US affirms duties on two Chinese silicon exporters
    • New York, 21 July (Argus) — The US reaffirmed duties on two importers of Chinese silicon metal during a final determination of an administrative review. The Commerce Department applied the existing China-wide 139.49pc margin on imports from the Shanghai Jinneng and Shanghai Jinfeng duri
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    • ANALYSIS | 21 Jul 21:56
    • US imports of Canadian ferrous scrap fall
    • Houston, 21 July (Argus) — Ferrous scrap imports into the US from Canada fell by 8.6pc to 837,708metric tonnes (t) in the first five months of this year, down from 916,727t a year earlier. The decline is primarily because Buffalo, New York imported 32,227 fewer tonnes during this perio
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    • NEWS | 21 Jul 20:04
    • Komatsu to acquire Joy Global
    • Houston, 21 July (Argus) — Japanese mining equipment manufacturer Komatsu has signed an agreement to acquire US Joy Global, in a deal worth about $3.7bn. Under the terms of the agreement announced today, Komatsu will buy 100pc of Joy Global at a price of $28.30/share with the latter ope
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    • NEWS | 21 Jul 19:50
    • Novelis promotes three top executives
    • Houston, 21 July (Argus) — Rolled aluminum producer Novelis today made three executive appointments in Europe and the US, each effective 1 September. The company said Emilio Braghi will soon be senior vice president of Novelis and president of Novelis Europe. Braghi joined the company i
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    • COMMENTARY | 21 Jul 19:02
    • US metcoal: Prices fall as US dollar strengthens
    • New York, 21 July (Argus) — Prices of US coking coal for export dipped this week as the US dollar touched a four-month high. Prices for coking coal for delivery in the prompt 90 days from Hampton Roads, Virginia, fell across all Argus assessed coal specifications in the latest week. Pr
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    • NEWS | 21 Jul 18:59
    • Reliance Steel sees slow pickup as sales rise
    • Houston, 21 July (Argus) — US metals service center Reliance Steel Aluminum's expects demand to pick up slowly in the second half of the year, amid steady car output and growth in infrastructure and aerospace after its sales volumes edged up in the second quarter from a year earlier.
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    • NEWS | 21 Jul 18:24
    • Norsk Hydro forecasts higher aluminum demand from China
    • Houston, 21 July (Argus) — Norwegian aluminum producer Norsk Hydro revised its forecast for global primary aluminum demand upward to 4-5pc for the year from a projection of 3-4pc growth made in the previous quarter. The increase will be driven by Chinese demand, which the company upgrad
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    • COMMENTARY | 21 Jul 18:11
    • CIS pig iron: Market watches scrap for direction
    • London, 21 July (Argus) — Trading activity in the Black Sea pig iron market has been extremely sparse this week, with continued uncertainty about price direction exacerbated by turbulent political events in Turkey. A major Ukrainian steelmaker sold 5,000t of basic pig iron (BPI) to Turk
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    • NEWS | 21 Jul 18:09
    • Scrap freight rates decline with more vessels
    • London, 21 July (Argus) — Freight rates for scrap cargoes heading to Turkey from US east coast ports edged down this week. This was because of continuing pressure caused by vessels ballasting over from Europe and Asia, with the conclusion of the South American grain season taking effect
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    • COMMENTARY | 21 Jul 17:40
    • Turkish scrap: Mills not ready to talk to US suppliers
    • London, 21 July (Argus) — Market discussions came to a halt today, as a result of political events in Turkey yesterday and ratings agency Standard Poor's downgrading Turkey's credit rating to BB from BB+ yesterday evening. US suppliers' indications of a minimum $230/t cfr Turkey price
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    • NEWS | 21 Jul 17:29
    • Nucor expects improved earnings as output rises
    • Houston, 21 July (Argus) — US steelmaker Nucor expects a strong improvement in its third quarter earnings alongside a significant improvement in its raw materials segment after it produced 13.5pc more steel in the second quarter of 2016. The North Carolina-based company produced 5.9mn
    • Read more
    • NEWS | 21 Jul 17:27
    • Johnson Controls' battery shipments rise
    • Houston, 21 July (Argus) — Diversified US manufacturer Johnson Controls (JCI) reported a slight decline in net sales and a significant increase in net income in its third fiscal quarter. An increase in the company's business efficiency unit's sales offset declines in its automotive segme
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    • COMMENTARY | 21 Jul 17:09
    • US ferro-alloys: FeTi falls on competitive offering
    • New York, 21 July (Argus) — US ferro-titanium prices edged down during the past week amid competitive supplier offers. US ferro-titanium (Ti 70pc) prices decreased to $1.77-1.80/lb in the latest week from $1.85-1.95/lb a week earlier. Traders and suppliers lowered offers early in the we
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    • NEWS | 21 Jul 17:08
    • Vale sets quarterly records for copper, nickel
    • Houston, 21 July (Argus) — Brazilian-based diversified miner produced second quarter record volumes of copper and nickel, on rising output in Canada, Brazil and Indonesia. Copper output rose by 3.4pc to 105,600t in the second quarter from a year earlier, largely because of higher output
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    • NEWS | 21 Jul 16:52
    • Mali Li project shows high grade assay results
    • Johannesburg, 21 July (Argus) — Perth-based Birimian has received further high-grade assay results at its Bougouni lithium project in Mali, West Africa, and expects to announce a JORC-compliant mineral resource before the end of the year. The company said that it has received several as
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    • NEWS | 21 Jul 16:45
    • American Steamship’s 2Q iron ore volumes up
    • American Steamship's 2Q iron ore volumes up Houston, 21 July (Argus) — Great Lakes iron ore hauler American Steamship (ASC) carried 8.9mn t in the second quarter, up from 8.4mn t in the year-prior period, as the company continues to navigate a weaker metals market. ASC continues to run o
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    • NEWS | 21 Jul 16:16
    • Hindustan Zinc 1Q output down 46pc on yr
    • London, 21 July (Argus) — Hindustan Zinc, a subsidiary of Indian mining conglomerate Vedanta Resources and one of the world's largest zinc producer, reported a 46pc decline in its zinc production in the first quarter of 2017 to 101,000t because of low mine output and a major mine closure
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    • COMMENTARY | 21 Jul 14:39
    • Nickel prices rise on Philippines mine stoppages
    • London, 21 July (Argus) — London Metal Exchange (LME) nickel traded higher this week as the Philippines, a major nickel ore producer, continued to clamp down on local mining firms over environmental issues. The country's mines and geosciences bureau halted operations at Berong mine, a m
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    • COMMENTARY | 21 Jul 14:31
    • US ferro-alloys: FeMn rises, FeV and FeMo edge down
    • New York, 21 July (Argus) — US ferro-vanadium and ferro-molybdenum prices continued to edge down in the latest week amid falling orders. High carbon ferro-manganese traded slightly higher, boosted by firm steel mill demand. FeCr US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices trad
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    • NEWS | 21 Jul 13:38
    • REC Silicon targets increased output
    • London, 21 July (Argus) — Norwegian polysilicon producer REC Silicon plans to increase production in the second half of 2016 after output fell in the second quarter. The firm is targeting polysilicon production of 4,490t and 5,520t in the third and fourth quarters, respectively. Output
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    • ANALYSIS | 21 Jul 13:22
    • Turkish lira exposed to risks following coup attempt
    • London, 21 July (Argus) — The Turkish lira may suffer further losses in the weeks ahead as foreign investors and ratings agencies assess the damage caused to Turkey's economy after the failed coup on 15 July. The currency fell to a record low of TL3.09 against the US dollar yesterday af
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    • NEWS | 21 Jul 12:11
    • Lundin gets extension on Tenke first offer rights
    • London, 21 July (Argus) — Canadian firm Lundin Mining has been granted an extended deadline to take advantage of its right of first offer on the majority interest in copper-cobalt mine Tenke Fungurume in the Democratic Republic of Congo. Lundin owns a 30pc interest in Bermuda-registered
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    • NEWS | 21 Jul 12:07
    • Mariana lithium project gets $12mn funding
    • London, 21 July (Argus) — Toronto Venture exchange-listed International Lithium (ILC) and its Chinese partner Ganfeng Lithium have agreed to invest $12mn to accelerate exploration and development on their Mariana Lithium brine project in Argentina. A budget proposal to complete definiti
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    • NEWS | 21 Jul 11:58
    • South32 makes first foray into northen hemisphere
    • Johannesburg, 21 July (Argus) — Southern hemisphere-focused mining group South32 has shown its intention to consider projects in the northern hemisphere by indicating its interest in a copper-nickel-platinum group elements prospect in Canada. The group said in its June quarter and fisca
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    • NEWS | 21 Jul 11:56
    • Corning launches new Gorilla Glass product
    • London, 21 July (Argus) — US glass and ceramics manufacturer Corning will expand its indium-tin oxide sputtered Gorilla Glass range of products. Gorilla Glass is chemically strengthened and used in smartphone screens. It is able to survive falls from shoulder height, Corning said. Smar
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    • NEWS | 21 Jul 11:56
    • Sayona completes purchase of Authier Li project
    • Johannesburg, 21 July (Argus) — Queensland-based Sayona Mining has completed the acquisition of the Authier lithium project in Quebec, Canada, for 4mn Canadian dollars ($3.04mn). The company said it will now complete a pre-feasibility study, undertake a final round of drilling, proceed
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    • NEWS | 21 Jul 09:32
    • Chrome ore stocks at Chinese ports fall again
    • Beijing, 21 July (Argus) — Chrome ore stocks at China's main ports have declined by 58,000t to 1,149,000t from 1,207,000t a week earlier. Port stocks are falling as a result of fewer shipments and increased buying by ferro-chrome alloy producers in southern China that have restarted
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    • NEWS | 21 Jul 04:35
    • South32 manganese output falls by 8pc
    • Sydney, 21 July (Argus) — Australia-listed mining firm South32 produced 4.78mn t of manganese ore in the 2015-16 financial year that ended 30 June, down by 8pc from 5.22mn t a year earlier. Record output from its Australian mines was not enough to offset a decline in production from its
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    • NEWS | 21 Jul 03:59
    • South32 alumina output up 3pc in 2015-16
    • Sydney, 21 July (Argus) — Alumina production at Australia-listed mining firm South32 rose by 3pc to 5.3mn t in 2015-16 financial year that ended 30 June from 5.15mn t a year earlier, thanks to record output at its Worsley alumina plant in Western Australia. Aluminium production fell by 4
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    • ANALYSIS | 20 Jul 23:18
    • Bulk cargoes drive rise in US scrap exports to Mexico
    • Houston, 20 July (Argus) — US ferrous scrap exports to Mexico increased by 24pc in the first five months of this year, driven by a 54pc increase in bulk exports. Total US exports to Mexico grew to 454,409 metric tonnes (t), up from 367,169t a year earlier, according to data from the US
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    • COMMENTARY | 20 Jul 23:09
    • Aluminium: Premiums rise in Rotterdam trade
    • Houston, 20 July (Argus) — Aluminium premiums rose in Rotterdam in the latest week after a small number of deals concluded at higher prices despite ample supply. In Rotterdam, in-warehouse premiums for duty unpaid material rose to $65-75/t from $60-65/t a week earlier, while duty paid p
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    • NEWS | 20 Jul 22:45
    • Kaiser Aluminum cuts auto extrusion forecast
    • Houston, 20 July (Argus) — US-based sheet manufacturer Kaiser Aluminum has revised its outlook for automotive extrusion revenue growth to 6pc for the year, down from an initial prediction of 10pc. One extrusion program was "terminated sooner than expected" and another is "ramping up at
    • Read more
    • COMMENTARY | 20 Jul 21:55
    • US copper: Premiums drop as Comex rises
    • Houston, 20 July (Argus) — US copper cathode premiums dropped slightly this week amid a surplus of material. Pressure increased from consumers seeking to hold on to gains in their all-in price after exchange prices rose. Cathode grade A premiums traded at 5.75-6.5¢/lb delivered midwest
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    • COMMENTARY | 20 Jul 21:51
    • US copper scrap: Spreads pressured by Comex rise
    • Houston, 20 July (Argus) — Consumer buying price spreads for No. 1 bare bright remained at level September Comex to 2¢/lb over Comex for a sixth week. Consumers are starting to push for lower spreads but sellers have been able to maintain spreads at current levels while material contin
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    • COMMENTARY | 20 Jul 21:24
    • US aluminum: Midwest premium flat
    • Houston, 20 July (Argus) — The US midwest premium for primary aluminum was unchanged this week amid weak interest. Traders received very few inquiries this week as seasonal summer shutdowns has slowed activity. The premium remained flat at 6.9-7¢/lb this week. London Metal Exchange c
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    • COMMENTARY | 20 Jul 21:19
    • US aluminum scrap: UBC spreads flat
    • Houston, 20 July (Argus) — Used aluminum beverage can price spreads were flat Wednesday from a week earlier as planned summer shutdowns negatively impacted demand. Consumers purchased UBCs at about 76-77pc of the Argus midwest transaction price, unchanged from a week earlier. Outrig
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    • NEWS | 20 Jul 21:16
    • Madison-Kipp completes Wisconsin expansion
    • Houston, 20 July (Argus) — Aluminum foundry Madison-Kipp Corporation has completed its expansion at its Sun Prairie business park facility, eight months after initiating the project. The facility has been expanded by 90,000sq ft at a cost of $3.5mn and will integrate the company's ware
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    • NEWS | 20 Jul 21:06
    • Nucor to buy Joy Global Texas steel mill for $29mn
    • Houston, 20 July (Argus) — Nucor has agreed to acquire Joy Global's steel plate mill located in Texas for $29mn. Argus reported in April that Nucor was likely to be the buyer of the mill, which is capable of producing 180,000net tons (163,293metric tonnes) of carbon and alloy plate pr
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    • NEWS | 20 Jul 20:57
    • Anheuser-Busch merger with SABMiller clears US hurdle
    • Houston, 20 July (Argus) — The US Justice Department has entered into a consent decree with brewer Anheuser-Busch InBev, "which clears the way for US approval" of its proposed merger with London-based brewer SABMiller. The companies expect the transaction to close before the end of the
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    • COMMENTARY | 20 Jul 19:36
    • Oil futures: Crude rise snaps two days of losses
    • Houston, 20 July (Argus) — Crude prices rose today, breaking two days of declines as the latest data showed a ninth consecutive week of declines in US crude stockpiles. Nymex August light, sweet crude futures settled up by 29¢/bl at $44.94/bl. The more actively traded September contrac
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    • NEWS | 20 Jul 19:20
    • World aluminium deficit rises: WBMS
    • Houston, 20 July (Argus) — The global primary aluminium deficit rose by 56pc from January through May compared to the same period a year earlier, according to the World Bureau of Metal Statistics. The deficit rose to 408,000metric tonnes (t) in the first five months of the year, from 26
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    • NEWS | 20 Jul 19:11
    • Mexico crude steel output falls in June
    • Houston, 20 July (Argus) — Mexico's crude steel production dropped by about 1pc in June for a second month of declines compared to a year earlier. Mexico's crude steel output has fallen every month of the year compared to a year earlier, except for an increase in April, according to Wor
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    • NEWS | 20 Jul 19:06
    • Lawmakers want railcar company investigated
    • Washington, 20 July (Argus) — More than 50 members of Congress want the US to investigate a transfer of ownership between a North Carolina-based railcar manufacturer and two Chinese government-sponsored corporations. Representative Peter DeFazio (D-Oregon) led the effort to get the US T
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    • NEWS | 20 Jul 18:58
    • Global copper market posts deficit through May
    • Houston, 20 July (Argus) — Global copper demand outpaced production in the first five months of the year, driven primarily by Chinese consumption. The world copper market recorded a deficit of 48,000t between January-May, compared to a 196,000t surplus in the same months of 2015, accor
    • Read more
    • COMMENTARY | 20 Jul 18:51
    • Turkish scrap: US suppliers expect no less than $230/t
    • London, 20 July (Argus) — Two US suppliers said today that they would only accept bids at a minimum of $230/t cfr Turkey for second half of August shipment cargoes. US exporters' sales prices to local steelmakers based on current domestic prices theoretically average the equivalent of $
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    • NEWS | 20 Jul 18:34
    • Anti-dumping investigations against China rise
    • London, 20 July (Argus) — China was the subject of 65 trade-remedy investigations in all commodities launched by 17 countries in the first half of 2016. This was an increase of 66.7pc compared with investigations launched for trade damages in the same period in 2015, according to the c
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    • NEWS | 20 Jul 18:18
    • Global tin market deficit narrows
    • Houston, 20 July (Argus) — The global tin market posted a deficit of 2,000t between January- May, compared to a 12,000t deficit in the same months of 2015, according to data released by the World Bureau of Metal Statistics. World reported production of refined metal (excluding re-proce
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    • NEWS | 20 Jul 18:15
    • North American aluminum shipments up in June
    • Houston, 20 July (Argus) — US and Canadian shipments of aluminum sheet and plate total were up less than a tenth of percentage point in June from a year earlier. Shipments were up by 1.3pc in the first six months of the year. Plate and sheet shipments rose to 729.3mn lbs in June from 72
    • Read more
    • NEWS | 20 Jul 18:04
    • AMG expands Brazil lithium operations
    • London, 20 July (Argus) — Dutch speciality metals producer AMG has approved the construction of a lithium concentrate-spodumene plant at its Mibra mine in Brazil's Minas Gerais state. The plant is expected to begin operations in the first quarter of 2018 and will have an initial produc
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    • NEWS | 20 Jul 18:04
    • Global zinc market swings to deficit through May
    • Houston, 20 July (Argus) — The global zinc market posted a deficit of 52,000t between January-May, compared to a 214,000t surplus in the same months of 2015, according to data released by the World Bureau of Metal Statistics. World production of refined zinc fell by 5pc in the first fi
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    • NEWS | 20 Jul 18:01
    • China starts ferro-silicon environmental inspections
    • Beijing, 20 July (Argus) — China's ministry of environmental protection will conduct inspections in eight provinces in the coming months. The provinces are Inner Mongolia, Ningxia, Heilongjiang, Jiangsu, Jiangxi, Henan, Guangxi and Yunnan. One team is carrying out inspections in Inner
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    • COMMENTARY | 20 Jul 17:50
    • US minor metals: Selenium rises, indium, tellurium fall
    • New York, 20 July (Argus) — US selenium prices increased during the past week amid tight near-term supplies and firm demand from Indian consumers. Selenium (Se 99.5pc) prices settled higher at $9.50-11.50/lb, up from $8.25-10.00/lb a week earlier. Limited near-term availability continue
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    • NEWS | 20 Jul 17:39
    • World crude steel output contracts
    • London, 20 July (Argus) — Global crude steel output in the first six months of 2016 totalled 794.8mn t, 1.9pc less on the year, according data from the World Steel Association. But June's production of 135.7mn t matched that of the same month last year, having only declined by 0.1pc year
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    • NEWS | 20 Jul 17:06
    • Chinese producers raise alloy prices on tight supply
    • Beijing, 20 July (Argus) — A number of large producers in China have increased offer prices for silico-manganese and ferro-manganese alloys because of reduced supply and increased enquiries. Most material for delivery before early August has been booked. But the market has seen higher
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    • NEWS | 20 Jul 16:29
    • Evraz North America optimistic in current market
    • Houston, 20 July (Argus) — Russia-based Evraz's North America segment said it is "cautiously optimistic" about its near-term outlook after producing 23.8pc less crude steel in the second quarter of 2016 from a year earlier. The company produced 326,000t of steel in the second quarter, d
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    • NEWS | 20 Jul 16:28
    • Global pig iron output slips in June
    • London, 20 July (Argus) — Global pig iron output declined by nearly 2pc month on month in June to 97.5mn t as production fell in China, the EU and the CIS region. Production exceeded the year-to-date monthly average and was slightly higher than June 2015's output, signalling little chan
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    • NEWS | 20 Jul 16:20
    • Ganzhou rolls over RE guide prices
    • Beijing, 20 July (Argus) — China's Ganzhou Rare Earth Association has rolled over its guide prices for ion-absorption rare earth (RE) concentrate for the second half of July. The guide price for medium yttrium and rich europium concentrates is Yn190,000/t ($28,400/t), unchanged from the
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    • NEWS | 20 Jul 16:09
    • China’s BaoTi posts higher net loss in 1H
    • China's BaoTi posts higher net loss in 1H Beijing, 20 July (Argus) — China's largest titanium producer BaoTi Group has posted an increased loss in the first half of this year because of falling prices. The state-controlled company reported a net loss of Yn90mn in the January-June period
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    • NEWS | 20 Jul 16:08
    • Mexico levies tariffs on Korean ferromanganese
    • Houston, 20 July (Argus) — Mexico's Economy Ministry has levied preliminary antidumping duties of 35.64pc on ferro-manganese with South Korea origins. The duty came into effect 12 July, a day after the ministry published its decision in the country's official gazette. The Mexican mini
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    • NEWS | 20 Jul 15:56
    • Global aluminium output down 1.3pc in 1H
    • London, 20 July (Argus) — Global primary aluminium production in the January to June period of this year declined slightly to 27.67mn t, down 1.35pc from 28.05mn t during the same period in 2015, data from the International Aluminium Institute showed. Data also showed that production i
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    • NEWS | 20 Jul 15:52
    • Zinc market swings into 64,000t deficit
    • London, 20 July (Argus) — Global zinc market has moved from a surplus in the first four months of the year into a 64,000t deficit in May, data from the International Lead and Zinc Study Group showed. The tightness in the zinc market has been building up over the last nine months as the
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    • NEWS | 20 Jul 15:28
    • Boeing ups outlook for airplane sales in India
    • Mumbai, 20 July (Argus) — US-based aircraft manufacturer Boeing lifted its outlook for airplane sales in India, now expecting about 1,850 new airplanes in India, valued at $265bn, over the next 20 years. This is up from an earlier prediction of 1,740 new airplanes in India. Boeing said
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    • ANALYSIS | 20 Jul 15:10
    • Rare earth industry faces fresh downstream challenge
    • London, 20 July (Argus) — Rare earth prices face fresh downward pressure as leading manufacturers pour resources into new technologies that either reduce or eliminate the rare earth content from their products. Japanese carmaker Honda this month said it plans to incorporate a new neodym
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    • NEWS | 20 Jul 14:51
    • China's steel output falls in early July
    • Singapore, 20 July (Argus) — China's crude steel production fell in early July as heavy flooding in south China disrupted output at some mills. Crude steel output at members of the China iron and steel association (Cisa), comprising around 100 of the country's largest steel mills, fell
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    • NEWS | 20 Jul 14:50
    • Output edges up Anglo American's Chagres copper smelter
    • London, 20 July (Argus) — Production at London-listed mining firm Anglo American's Chagres copper smelter in Chile edged up by 1pc on the year to 35,500t in the second quarter. Chagres produced 125,700t of sulphuric acid as a by-product of the smelting process in April-June, up by 1pc f
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    • NEWS | 20 Jul 14:22
    • EU considers new anti-dumping rules
    • Brussels, 20 July (Argus) — The European Commission is to propose changes to the EU's methods for assessing tariffs on dumped and subsidised imports. These have been widely criticised, particularly the lesser-duty rule that typically results in duties being set at low levels that do lit
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    • NEWS | 20 Jul 14:20
    • Anglo American retains metallurgical coal target
    • London, 20 July (Argus) — London-listed mining group Anglo American has retained its 21mn-22mn t production guidance for its Australian metallurgical coal mines in 2016, the bulk of which it hopes to sell before the end of this year. The company's Australian operations boosted metallurg
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    • NEWS | 20 Jul 12:54
    • Anglo American cuts 2016 iron ore output guidance
    • London, 20 July (Argus) — London-listed mining group Anglo American expects to produce at least 1mn t less iron ore this year than previously predicted because of constraints at its Brazilian mine Minas-Rio. But the company expects to make up a first-half production shortfall at its majo
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    • NEWS | 20 Jul 12:54
    • Lithium Power International eyes Chile joint venture
    • Johannesburg, 20 July (Argus) — Sydney-based Lithium Power International has entered into an agreement regarding a joint venture to develop the Maricunga lithium brine project in Chile. Its partner in the joint venture is Chilean-based Minera Salar Blanco. Lithium Power International wi
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    • NEWS | 20 Jul 12:36
    • Anglo American ups Ni output; Nb/Mn/Cu lower
    • Johannesburg, 20 July (Argus) — Diversified mining group Anglo American produced more nickel and platinum group metals in the June quarter and the first half of 2016. But copper, niobium and manganese output was lower than a year earlier. The group said its nickel output rose by 76pc to
    • Read more
    • NEWS | 20 Jul 12:29
    • W Resources to double Spanish tungsten mine production
    • London, 20 July (Argus) — UK-based tungsten miner W Resources has optimised plans to almost double ore and concentrate production at La Parilla mine in Spain. Tungsten concentrate production at the brownfield La Parilla site in Extremadura, south-western Spain, began two years ago from
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    • NEWS | 20 Jul 11:40
    • Aleris expands aluminium semis supply to Airbus
    • London, 20 July (Argus) — Cleveland, Ohio-based aluminium semis fabricator Aleris has signed a new multi-year contract to supply aluminum plate and sheet to European aircraft manufacturer Airbus. The contract for the aluminium rolled products to be used in aircraft fuselage and wing str
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    • NEWS | 20 Jul 11:21
    • Anglo American Platinum ups Pt, Pd, Rh output in 2Q
    • Johannesburg, 20 July (Argus) — World-leading platinum producer Anglo American Platinum achieved a sharp rise in refined platinum, palladium and rhodium production in the June quarter compared to a year earlier. The company said its refined platinum output came to 748,000 ounces, up 33p
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    • NEWS | 20 Jul 05:19
    • Queensland offers new exploration areas
    • Sydney, 20 July (Argus) — The Queensland state government in Australia will release 826km² of land for exploration of minerals, coal, oil and gas over the next 12 months. Seven areas from Cloncurry in state's northwest to near the Surat basin in the southwest will be released for compet
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    • NEWS | 20 Jul 04:16
    • Nickel output falls at BHP Billiton
    • Sydney, 20 July (Argus) — UK-Australian resources firm BHP Billiton produced 80,700t of nickel in the 2015-16 financial year that ended 30 June, down from 89,900t a year earlier despite an increase in output in April-June. The firm expects its nickel production to increase by about 10pc
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    • NEWS | 20 Jul 04:08
    • BHP Billiton’s copper output beats guidance
    • BHP Billiton's copper output beats guidance Sydney, 20 July (Argus) — UK-Australian resources firm BHP Billiton produced 413,200t of copper in April-June, down from 435,200t in the same period a year earlier. But it expects output to rebound in the 2016-17 financial year that started 1 Ju
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    • COMMENTARY | 19 Jul 23:06
    • US aluminum scrap: Spreads widen amid shutdowns
    • Houston, 19 July (Argus) — Spreads widened for most mill-grade aluminum scrap this week as some consumers worked through planned outages and others reduced bids. Price spreads of scrap containing 6061 alloy widened the most. 6061 extrusion spreads widened to 88-89pc of the Argus midwe
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    • NEWS | 19 Jul 23:00
    • Steel Dynamics anticipates improved metal spread
    • Houston, 19 July (Argus) — US-based Steel Dynamics expects an improved metal spread in the third quarter of 2016 amid rising domestic flat roll steel utilization. Average steel selling prices at SDI rose by $66 to $640/nt in the latest quarter from the first three months of the year, t
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    • NEWS | 19 Jul 21:57
    • US ferrous scrap use drops as metallics rise in April
    • Houston, 19 July (Argus) — US iron and steel scrap consumption fell by 3.5pc in April from a year earlier, amid increased use of pig iron and direct reduced iron (DRI). Scrap consumption by electric arc furnace producers dropped despite an increase in total US steel capacity utilization
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    • NEWS | 19 Jul 19:37
    • SDI redirects more scrap for internal use as sales fall
    • Houston, 19 July (Argus) — US-based Steel Dynamics (SDI) shipped 10.3pc more ferrous scrap to its own steel mills in the second quarter of 2016 from a year earlier, as shipments to external customers dropped. SDI collects, processes and ships scrap through its wholly-owned subsidiary O
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    • COMMENTARY | 19 Jul 19:34
    • Oil futures: Crude falls as growth outlook weakens
    • Houston, 19 July (Argus) — Crude prices fell for a second day as the IMF cut projections for economic growth in many advanced economies as a result of UK's vote to leave the EU. Nymex August light, sweet crude futures settled down by 59¢/bl at $44.65/bl. Ice September Brent fell by 30¢
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    • NEWS | 19 Jul 17:42
    • EU files WTO case against China over metals exports
    • London, 19 July (Argus) — The EU today opened a third case at the WTO against China's restrictions on exports of raw materials, including nine base and minor metals. The materials cited in the case are antimony, cobalt, copper, indium, lead, chromium, graphite, magnesia, talcum, tantal
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    • NEWS | 19 Jul 17:38
    • Boliden increases 2Q zinc, copper output
    • London, 19 July (Argus) — Swedish miner Boliden reported higher output across its base metals in the second quarter of this year. The company's zinc production increased by 11pc year on year to 84,719t and its output of copper by 8pc to 24,028t. Boliden completed the acquisition of th
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    • NEWS | 19 Jul 17:35
    • Nemak aluminum autopart shipments up on European demand
    • Houston, 19 July (Argus) — Mexico-based aluminum die caster Nemak boosted shipments by 1.6pc in the second quarter compared to a year earlier, driven by consumption in Europe. Shipments edged up to 13.1mn units from 12.9mn units, as higher European shipments offset lower sales volumes i
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    • COMMENTARY | 19 Jul 17:28
    • Turkish scrap: Two UK sales push price up
    • London, 19 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up $4.10/t to $224/t on the back of two UK cargoes concluded on 15 July. A UK supplier sold two cargoes containing 38,000t of HMS 1/2 80:20 each at "slightly above $220/t cfr Turkey", for A
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    • NEWS | 19 Jul 17:26
    • EU fines truck producers for participating in cartel
    • London, 19 July (Argus) — The European Commission has found several truck producers guilty of breaking EU anti-monopoly rules. The truck producers participated in a cartel, "colluded for 14 years on truck pricing" and passed on the cost of compliance with stricture emissions rules to cus
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    • NEWS | 19 Jul 17:22
    • Chinese provinces announce steel capacity cuts
    • London, 19 July (Argus) — The provinces of Sichuan and Liaoning in China have this week announced steel capacity cuts totalling a combined 10mn t/yr to be implemented by 2017, according to the Chinese Iron and Steel Association (CISA). Sichuan province, in central China, announced it wi
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    • COMMENTARY | 19 Jul 17:16
    • US minor metals: Silicon flat amid summer slowdowns
    • New York, 19 July (Argus) — US silicon metal prices were unchanged in the past week amid sporadic low-volume trading. Silicon metal (Si 98.5pc) prices were flat at 89-93¢/lb during the latest week. Traders and suppliers resisted lowering offers through the week despite minimal ongoing s
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    • NEWS | 19 Jul 17:02
    • Rusal sells Alpart to Jisco
    • London, 19 July (Argus) — Russian integrated aluminium producer Rusal is to sell its 100pc stake in Alumina Partners of Jamaica (Alpart) to Chinese state-owned industrial group Jiuquan Iron Steel (Jisco). The deal is part of Rusal's strategy of divesting non-profitable assets. Alpart
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    • NEWS | 19 Jul 16:51
    • LME to trade from recovery site until 24 July
    • London, 19 July (Argus) — The London Metal Exchange (LME) will keep operating its open outcry trading from a recovery site between 20 July and 22 July as the structural issues found in the building that houses the LME offices remain ongoing. LME's clearing arm, LME Clear, will operate du
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    • COMMENTARY | 19 Jul 15:11
    • US minor metals: Limited supplies push cobalt higher
    • New York, 19 July (Argus) — US high-grade cobalt prices rose for a third week amid tight offshore supplies. High-grade cobalt (Co 99.8pc) prices increased to $11.75-12.00/lb from $11.20-11.90/lb a week earlier. US traders and distributors raised offers amid lack of near-term availabilit
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    • NEWS | 19 Jul 14:41
    • Vietnam sets safeguard duties on billet, longs
    • London, 19 July (Argus) — Vietnam has imposed a 23.3pc duty on imports of billet and a 15.4pc duty on imports of long steel products, having launched an investigation in December last year following complaints from four local producers that imports have been harming the domestic steel se
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    • NEWS | 19 Jul 14:39
    • Baosteel starts up Zhanjiang No.2 blast furnace
    • Singapore, 19 July (Argus) — China's state-controlled Baosteel has successfully started up the No.2 blast furnace at its Zhanjiang steel works. The 5,050m³ blast furnace in south China's Guangdong province was ignited on 15 July, Baosteel and construction firm Metallurgical Corporation
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    • COMMENTARY | 19 Jul 13:57
    • US minor metals: Antimony falls, cobalt strengthens
    • New York, 19 July (Argus) — Antimony and cadmium prices declined during the past week amid limited spot market demand, along with electronic metals such as bismuth and indium. But cobalt prices continued to rise on tighter near-term supplies. Antimony Thin domestic trading outweighed
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    • NEWS | 19 Jul 13:00
    • Indian chrome ore production down in May
    • Mumbai, 19 July (Argus) — India produced 253,000t of chrome ore in May, virtually flat on 252,000t in April but well below the 263,000t produced in May 2015. Merchant mining firms reduced chrome ore production in May, as weak demand from ferro-chrome alloy producers kept prices under pr
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    • NEWS | 19 Jul 12:06
    • Cloncurry Cu project gets environment approval
    • Johannesburg, 19 July (Argus) — Australia's Altona Mining has received an Amended Environmental Authority for its Cloncurry copper-gold project near Mt Isa in Queensland, satisfying a condition precedent for its proposed $238.5mn joint venture with China's Sichuan Railway Investment Grou
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    • NEWS | 19 Jul 11:28
    • ERG refinances $5.8bn debt
    • London, 19 July (Argus) — Luxembourg-based miner and metals producer Eurasian Resources Group has reached agreements with two key Russian lenders to refinance its debt. The agreements with the two banks, VTB and Sberbank, extend the repayment schedules, with most of the outstanding $5.8
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    • NEWS | 19 Jul 11:22
    • Poseidon progresses re-start of Silver Swan nickel mine
    • Johannesburg, 19 July (Argus) — Perth-based Poseidon Nickel is progressing with the re-start of its Silver Swan underground nickel mine in Western Australia. Geotechnical studies are being completed, regulatory approvals are being sought and a life of mine schedule is being finalised as
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    • NEWS | 19 Jul 11:20
    • Mt Cattlin Li output increased, first offtake on track
    • Johannesburg, 19 July (Argus) — Joint venture partners General Mining Corporation and Galaxy Resources have significantly upgraded processing capacity at the Mt Cattlin lithium project in Western Australia and have confirmed a maiden offtake shipment for September. The project is now ex
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    • NEWS | 19 Jul 10:35
    • Merafe 2Q FeCr output falls 3pc, 1H output up1pc
    • Johannesburg, 19 July (Argus) — South African ferro-chrome producer Merafe Resources experienced a 3pc reduction in attributable production to 93,000t in the three months to 30 June compared to a year earlier. The company said its output for the six months to 30 June rose by 1pc to 196,
    • Read more
    • NEWS | 19 Jul 10:23
    • India's MMTC to select ferro-alloy suppliers
    • Mumbai, 19 July (Argus) — Indian state-owned trading company MMTC has invited expressions of interest from Indian ferro-alloy producers and suppliers. The trading agency is seeking suppliers for Indian steelmaker Neelachal Ispat Nigam (NINL) and for export and domestic enquiries. MMTC w
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    • NEWS | 19 Jul 06:06
    • Rio Tinto increases copper, aluminium output
    • Sydney, 19 July (Argus) — UK-Australian resources firm Rio Tinto produced more copper, bauxite, alumina and aluminium in April-June compared with both the year-earlier period and January-March. Rio Tinto's mined copper production rose by 5pc from a year earlier to 141,000t during April-
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    • NEWS | 18 Jul 23:26
    • China unfairly blamed for US aluminum woes: UNO
    • Houston, 18 July (Argus) — Increasing Chinese aluminum production has little effect on the viability of the US upstream market, which instead is "hamstrung" by higher energy costs than competitors in other nations, according to trade consultancy UNO International Trade Strategy. China c
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    • NEWS | 18 Jul 22:26
    • Sandvik quarterly revenues edge down
    • New York, 18 July (Argus) — Swedish machinery and tool maker Sandvik's second quarter revenues declined by 4pc amid lower machining and materials segment sales. Sandvik's second quarter revenues totaled Skr20.3bn ($2.4bn), down from SKr22.2bn a year earlier. Second quarter profits decl
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    • NEWS | 18 Jul 20:14
    • US raw steel production rises by 2pc in latest week
    • Houston, 18 July (Argus) — US raw steel production rose by 2pc in the week ended 16 July compared to a week earlier, driven mostly by increased production in the Great Lakes and south. Output in the latest week increased to 1.75mn net tons (1.58mn metric tonnes) from 1.71mn nt a week e
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    • COMMENTARY | 18 Jul 19:40
    • US zinc: Premiums drop while metal at year high
    • Houston, 18 July (Argus) — US zinc premiums dropped by half a cent this week as spot demand remained poor and three-month London Metal Exchange zinc prices remained at a 13-month high. Physical spot demand remains soft as the summer doldrums continue. Argus assessed the US zinc premi
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    • NEWS | 18 Jul 19:31
    • Canadian service center aluminum shipments fall
    • Houston, 18 July (Argus) — Canadian service center shipments of aluminum products, excluding extrusions, were 16.5pc lower in June than a year earlier, as inventories were off by 15.9pc over the same period. Shipments totaled 10,800 net tons (9,797 metric tonnes) in June compared to 12
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    • COMMENTARY | 18 Jul 19:25
    • Oil futures: Crude falls amid softer demand
    • Houston, 18 July (Argus) — Crude futures fell amid growing expectations of softening demand as summer consumption ends while global supplies remain elevated. Nymex August light, sweet crude futures settled down by 71¢/bl at $45.24/bl. Ice September Brent fell by 65¢/bl to $46.96/bl. Th
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    • NEWS | 18 Jul 19:10
    • US-flag cargo movements down in June
    • Houston, 18 July (Argus) — US-flag Great Lakes freighters moved 9.65mn net tons (8.75mn metric tonnes) in June, a 6.4pc fall from year-ago figures according to preliminary data released from the Lake Carriers Association (LCA). The Cleveland-based organization said that iron ore cargoes
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    • NEWS | 18 Jul 19:08
    • Shippers want more transparent investigative rules
    • Washington, 18 July (Argus) — Prominent shipper groups urged federal regulators to put more teeth into "fact-finding" missions to determine if railroad practices should be investigated. Shippers told the Surface Transportation Board (STB) it should not allow the initial fact-finding sta
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    • COMMENTARY | 18 Jul 17:42
    • Turkish scrap: Market pauses after failed coup attempt
    • London, 18 July (Argus) — The Turkish scrap market took a pause today as market participants reflected on the failed coup attempt on 15 July. Market participants expect there to be little effect on the market, with deep-sea scrap suppliers confident of new business running smoothly with
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    • NEWS | 18 Jul 17:36
    • Zimbabwe RHA tungsten mine starts production
    • London, 18 July (Argus) — AIM-listed miner Premier African Minerals has started tungsten concentrate production at its majority-owned RHA tungsten mine in Zimbabwe having completed plant upgrades in Juy. The company is the operator of the 49pc-owned brownfield project designed to produc
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    • NEWS | 18 Jul 17:26
    • Zijin Mining 1H income drops 60pc
    • London, 18 July (Argus) — Chinese gold, copper and zinc miner Zijin Mining reported a 60pc decline in profit in the first six months of 2016 to Yn530mn ($79.34mn). The Shanghai and Hong Kong-listed company said that although production increased on the same period last year income fell
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    • NEWS | 18 Jul 17:23
    • US metallurgical coal exports to Europe drop
    • London, 18 July (Argus) — Exports of metallurgical coal from the US to Europe fell by 33pc on the year in January-May, data from the US Census Bureau show. US metallurgical coal suppliers shipped 6.37mn t to European ports in the first five months of this year, with the continent's larg
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    • NEWS | 18 Jul 17:18
    • Nexus pipeline project advances at FERC
    • Houston, 18 July (Argus) — The US Federal Energy Regulatory Commission (FERC) has issued a favorable draft environmental impact statement for Spectra Energy's planned 1.5 Bcf/d (42mn m³/d) Nexus pipeline and the related expansion of the Texas Eastern Transmission system. FERC staff conc
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    • NEWS | 18 Jul 17:05
    • US aluminum service center shipments sag
    • Houston, 18 July (Argus) — US service center shipments of aluminum products were down by 6.5pc in June from a year earlier while inventories were off by 1.5pc over the same period. Shipments totaled 133,600net tons (121,199 metric tonnes) in June, a decrease from 143,000nt the same mont
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    • NEWS | 18 Jul 16:10
    • Aluminum extruder Sapa creates new staff positions
    • Houston, 18 July (Argus) — Aluminum extrusion joint venture Sapa has created two new positions for its North American business, both of which are based in Chicago. Dawn Young joins Sapa as director of compliance and has more than 20 years of experience in industries including aerospace
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    • NEWS | 18 Jul 16:05
    • US steel service center shipments rise in June
    • Houston, 18 July (Argus) — US service center shipments of steel products fell by 5.1pc in June from a year earlier, as inventories sank by 16.5pc from June a year ago. Service center steel shipments totaled 3.4mn net tons (3.1mn metric tonnes) in June, compared with 3.6mn nt a year ea
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    • NEWS | 18 Jul 15:25
    • Kobe Steel starts making Ti forgings for Safran
    • London, 18 July (Argus) — Japanese metals fabricator Kobe Steel has started mass production of large titanium forged parts for supply to French aerospace engineering firm Safran Landing Systems. The forged parts will be used in the landing gears of the Airbus A350 XWB, the new extra wid
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    • NEWS | 18 Jul 15:23
    • Turkish mills retain credit access
    • London, 18 July (Argus) — Steel mills in Turkey will continue to gain letters of credit to make purchases after a failed coup attempt in the country last week, with the central bank saying it will boost banking sector liquidity. Some deep-sea ferrous scrap suppliers to Turkey at the end
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    • NEWS | 18 Jul 15:12
    • Turkish industrial ouput rebounds in May
    • London, 18 July (Argus) — Turkey's industrial output grew by 5.6pc in May compared with a year earlier, the strongest rate since February, while energy output grew by 3.3pc, according to calendar-adjusted data from Turkish statistics agency Turkstat. Manufacturing output closely followe
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    • NEWS | 18 Jul 14:39
    • Japan's Softbank to buy UK semiconductor maker ARM
    • London, 18 July (Argus) — The mobile phone component sector continues to consolidate with an announcement that Japanese telecommunications firm Softbank has agreed to buy UK semiconductor manufacturer ARM for £24bn ($32bn). Cambridge-based ARM designs microchips and semiconductors used
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    • COMMENTARY | 18 Jul 14:24
    • US ferro-alloys: FeCr flat amid summer slowdowns
    • New York, 18 July (Argus) — US high carbon ferro-chrome prices were flat in the latest week amid limited spot market trading and summer slowdowns. US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices were unchanged at 84-89¢/lb in the past week, after edging down a week earlier. Spot ma
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    • NEWS | 18 Jul 13:47
    • China Baotou Rare Earth Exchange launches new system
    • Beijing, 18 July (Argus) — China's state-controlled Baotou Rare Earth Products Exchange (REPE) has officially launched its new trading system. REPE started trial operation of the new trading system on 6 June. It offers seven transaction modes including e-shop, spot listing and spot bidd
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    • NEWS | 18 Jul 13:18
    • China’s new energy vehicle output rises
    • China's new energy vehicle output rises Beijing, 18 July (Argus) — China's output of new energy vehicles (NEVs) reached 177,000 units in January-June, up by 125pc year on year, China's automobile manufacturers association said. New energy vehicles is a broad term that includes 100pc batt
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    • NEWS | 18 Jul 12:58
    • India asks Tesla to open Indian manufacturing hub
    • Mumbai, 18 July (Argus) — India's transportation minister Nitin Gadkari met with Tesla executives on 16 July and proposed the establishment of a manufacturing hub in the country to supply vehicles throughout Asia-Pacific. The minister also asked the company to outline its plans for entr
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    • NEWS | 18 Jul 12:58
    • India asks Tesla to build manufacturing hub
    • Mumbai, 18 July (Argus) — India's transportation minister Nitin Gadkari met with US electric car manufacturer Tesla executives on 16 July and proposed the establishment of a manufacturing hub in the country to supply vehicles throughout Asia-Pacific. The minister also asked the company
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    • NEWS | 18 Jul 11:09
    • Brazil machinery makers urge action to boost business
    • Sao Paulo, 18 July (Argus) — Brazilian capital machinery and equipment makers, a vital source of business for steel makers and ferro-alloys producers, have put their names to a document urging government to improve the climate for doing business. A 158-page document consisting of nearly
    • Read more
    • NEWS | 18 Jul 10:59
    • Chinese lithium imports up, exports down
    • Beijing, 18 July (Argus) — Chinese lithium carbonate imports rose by 47pc year on year to 7,689t in January-May, and average prices grew by 35pc to $6,732/t. While lithium hydroxide exports fell by 36pc to 2,699t with average prices surging by 68pc to $12.35/kg Lithium carbonate import
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    • NEWS | 18 Jul 10:43
    • Stavely Minerals flags scoping study for Cu project
    • Johannesburg, 18 July (Argus) — Perth-based Stavely Minerals is to proceed with a scoping study to assess the viability of the Thursday's Gossan deposit within its Stavely copper-gold project in Western Australia. A conceptual study has indicated an inferred mineral resource of 28mn t g
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    • NEWS | 18 Jul 04:36
    • LME temporarily moves ring trading floor
    • Singapore, 18 July (Argus) — The London Metal Exchange (LME) will move its open outcry trading floor to a backup site today and tomorrow after a structural issue was found in its building. The issue was discovered on 16 July on a floor above the LME premises in Finsbury Square, leading
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    • NEWS | 15 Jul 23:19
    • US southeast ferrous scrap imports soar
    • Houston, 15 July (Argus) Ferrous scrap imports into the southeast rose by 50.5pc to 394,308metric tonnes (t) in the first five months of this year, up from 261,964t a year earlier. Southeastern imports are on pace to have a record year as import totals this summer are expected to exceed the
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    • ANALYSIS | 15 Jul 22:38
    • This Week in Metals: 11-15 July
    • Houston, 15 July (Argus) — The global aerospace industry had a rough landing at the Farnborough International Airshow in the UK this week. Aircraft order bookings ended the week at their lowest in six years, and down by more than 40pc from the Paris Airshow in June 2015. France's Air
    • Read more
    • COMMENTARY | 15 Jul 21:52
    • Turkish scrap: More enquiries, Turks dependent on sales
    • London, 15 July (Argus) — Buyers have continued to make enquiries for deep-sea scrap, with one continental European supplier and one US supplier confirming that they rejected Turkish enquiries today, without formally offering their cargoes. No bids were given during the communications, i
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    • COMMENTARY | 15 Jul 21:20
    • Aluminium: Asian scrap prices weak despite LME rally
    • Houston, 15 July (Argus) — Aluminium scrap prices for secondary smelter grades stayed mostly unchanged this week despite an increase in terminal market prices as scrap remains oversupplied relative to demand. Three-month official aluminium prices on the London Metal Exchange closed toda
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    • NEWS | 15 Jul 21:12
    • US levies steel pipe duties on three countries
    • Houston, 15 July (Argus) — The US Commerce Department today issued an affirmative final determination on antidumping duties for imports of heavy walled rectangular welded carbon steel pipes from South Korea, Mexico and Turkey. It also levied countervailing duties on Turkish producers. T
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    • COMMENTARY | 15 Jul 20:17
    • US stainless: Scrap tracks nickel gains
    • Houston, 15 July (Argus) — US stainless steel scrap prices continued to rise in the latest week, as London Metal Exchange cash nickel prices hit their highest level in nine months. The higher processor buying prices are threatening margins as mills are hesitant to increase prices. US s
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    • COMMENTARY | 15 Jul 20:07
    • LME copper, aluminium prices rise
    • London, 15 July (Argus) — London Metal Exchange (LME) copper and aluminium prices climbed this week, following a rally in global equities, a slight depreciation of the dollar in currency markets and bullish Chinese trade data. Copper traded heavily, rising sharply midweek, particularly
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    • NEWS | 15 Jul 19:40
    • Power issue reduces Ferbasa ferro-alloys output
    • Sao Paulo, 15 July (Argus) — Leading Brazilian ferro-chrome producer Ferbasa said ferro-alloys production fell 34.6pc in June from a year earlier to 16,105t as the company continues to adapt to a new power deal with northeast regional utility Chesf. Ferro-alloy sales rose 17.3pc to 22,6
    • Read more
    • NEWS | 15 Jul 19:02
    • US secondary aluminum: Alloys mixed on higher LME
    • Houston, 15 July (Argus) — Secondary aluminum alloy prices were mixed this week as exchange prices ticked up to multi-month highs and some smelters prepared for seasonal maintenance. Prices for A380.1 held at 83-85¢/lb for a sixth week as some producers noticed better traction for highe
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    • NEWS | 15 Jul 18:34
    • Horsehead reorganization plan approved for vote
    • Houston, 15 July (Argus) — Pittsburgh-based zinc manufacturer Horsehead Holding and its subsidiaries have proposed a Chapter 11 reorganization plan that the bankruptcy court has approved to put to a vote of its creditors by 19 August. If the plan is approved, Horsehead will receive $160
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    • NEWS | 15 Jul 17:43
    • US Steel requests resumption of China steel probe
    • Houston, 15 July (Argus) — US Steel has submitted a request to the US International Trade Commission requesting that the agency reverse the suspension of its investigation on China's steel companies. The Pittsburgh-based producer filed a complaint under section 337 of the Tariff Act of
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    • NEWS | 15 Jul 17:12
    • Sapa boosts aluminum extrusion sales in second quarter
    • Houston, 15 July (Argus) — Shipments from Norwegian aluminum extrusion producer Sapa rose by 2.2pc in the second quarter from a year earlier, as consumption grew in North America and Europe. The company shipped 366,000t of extrusions in the second quarter, up from 358,000t a year earlie
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    • NEWS | 15 Jul 17:10
    • US titanium production down in first quarter
    • New York, 15 July (Argus) — US titanium mill product and ingot production declined by 6.7pc in the first quarter amid falling ingot and scrap consumption. The US produced 24,600t of titanium ingot and mill products in the first quarter, down from 26,380t a year earlier, according to the
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    • NEWS | 15 Jul 16:39
    • New Age to drill for tungsten, tin at former UK site
    • Sao Paulo, 15 July (Argus) — Australia's New Age Exploration is planning a tungsten-tin drilling campaign for the first half of 2017 at the formerly producing Redmoor mine in Cornwall, southwest England. Funding for the campaign rests on payments totalling $1.6mn by London-listed Strate
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    • ANALYSIS | 15 Jul 16:31
    • China nonferrous output falls in June
    • London, 15 July (Argus) — Growth rates for China's production of non-ferrous metals shrank in June, reflecting widespread production cutbacks and output suspensions for summer maintenance work. Total output of the measured nonferrous metals production industry reached 4.43mn t, up sligh
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    • NEWS | 15 Jul 15:55
    • Plymouth to upgrade Li mineral resource in Spain
    • Johannesburg, 15 July (Argus) — Perth-based Plymouth Minerals is working on upgrading the foreign estimate of mineralisation at its San Jose lithium project in Spain to Australia's Jorc mineral resource estimation standards. The company validated the estimate of 14mn t grading 0.9pc lit
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    • NEWS | 15 Jul 15:45
    • Shaft sinking begins at Platreef PGM/Ni/Cu/Au mine
    • Johannesburg, 15 July (Argus) — Vancouver-based Ivanhoe Mines has begun sinking the first underground mining shaft at the Platreef platinum group metals, copper, nickel and gold mine in South Africa's Limpopo province. The mine is being developed in three phases with the first phase set
    • Read more
    • COMMENTARY | 15 Jul 15:24
    • US ferro-alloys: Tight supplies drive SiMn higher
    • New York, 15 July (Argus) — US high carbon ferro-manganese prices were unchanged during the past week despite minimal trading. US high carbon ferro-manganese (Mn 80pc, C 6-8pc) prices were flat at $810-840/gt for a second week. Meanwhile, medium carbon ferro-manganese (Mn 80pc, C 1-2pc)
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    • NEWS | 15 Jul 15:05
    • China's Apr-Jun GDP growth stable at 6.7pc
    • Singapore, 15 July (Argus) — China's gross domestic product (GDP) growth in the April-June quarter was unchanged from the previous quarter at 6.7pc, in line with analyst expectations. China's state-run think-tank, the national academy of economy strategy, had accurately forecast the sec
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    • NEWS | 15 Jul 15:00
    • Strong bidding interest in UK power storage tender
    • London, 15 July (Argus) — UK grid operator National Grid saw "good interest" today in the enhanced frequency response (EFR) service tender expected to draw interest primarily from battery storage projects. The tender — undertaken in partnership with renewables developer RES — comes at
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    • NEWS | 15 Jul 14:16
    • Hyundai Steel blast furnace returns to normal output
    • Singapore, 15 July (Argus) — South Korean steel producer Hyundai Steel is returning its No. 1 blast furnace to normal operations this month, prompting leading coking coal sellers to position for sales. Hyundai is still trying to determine what led to a heat transmission problem in the f
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    • NEWS | 15 Jul 13:49
    • Indian BMPA seeks talks on new monazite limit in AMCR
    • Mumbai, 15 July (Argus) — The Beach Minerals Producers Association BMPA has appealed directly to India's prime minister Narendra Modi to delay implementation of the draft Atomic Mineral Concession Rules 2016 (AMCR) until the proposed 0.75pc monazite threshold limit is discussed with all
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    • NEWS | 15 Jul 13:37
    • European car registrations rise in June
    • London, 15 July (Argus) — New passenger car registrations in the EU rose by 6.9pc in June from a year earlier, according to European car manufacturers' body ACEA. EU car registrations posted a year-on-year increase for the 34th consecutive month reaching 1,459,508 units. Total registrat
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    • NEWS | 15 Jul 10:17
    • Chinese manganese ore port stocks up
    • Beijing, 15 July (Argus) — Manganese ore stocks at China's main ports have risen to 2.46mn t, up by 6.5pc from 2.31mn t on 4 July. There are 2.07mn t of manganese ore stocks at Tianjin port, 360,000t in Qinzhou port, 12,000t in Fangcheng port, 8,000t in Beihai port, 5,000t in Zhanjiang
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    • NEWS | 15 Jul 10:05
    • Venus flags Li/Nb/Ta potential at Nardoo Hill project
    • Johannesburg, 15 July (Argus) — Australian minor metals explorer Venus Metals has reported high-grade lithium, niobium and tantalum mineralisation at its Nardoo Hill project in the Gascoyne region of Western Australia. The company has extended its exploration area as a result of the exp
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    • NEWS | 15 Jul 09:44
    • 'Unprecedented' copper-lead find hailed in Brazil
    • Sao Paulo, 15 July (Argus) — Brazil's geological survey department CPRM, a division of the mining ministry, has released some details of what it describes as an "unprecedented" copper-lead discovery in the country's remote Rondonia state. Preliminary findings on the P16 discovery on the
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    • NEWS | 15 Jul 09:27
    • Zimbabwe's first-quarter nickel output climbs
    • Johannesburg, 15 July (Argus) — Zimbabwe increased its output of most metals and minerals in the first quarter compared with a year earlier. Nickel production rose by around 435t year on year to just over 4,870t, while platinum and gold output climbed to 4,320kg from 3,020kg and to 5,06
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    • NEWS | 15 Jul 09:12
    • Australian South32 cuts Mn ore export prices for August
    • Beijing, 15 July (Argus) — Australia-based mining company LSE-listed South32 has released its manganese ore export prices for China for August shipment. South32 has lowered its prices for Australian lumpy manganese ore 45.5pc, Fe 5pc and Australian lumpy manganese ore 49pc, Fe 5pc to $2
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    • NEWS | 15 Jul 04:08
    • China's daily steel output hits 2016 high in June
    • Singapore, 15 July (Argus) — China's crude steel output hit a fresh high for the year in June on a t/d basis, beating the previous record set in April. June output was 2.315mn t/d, up by 2pc compared with 2.27mn t in May and slightly higher than April's 2.31mn t/d. A five-day halt to s
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    • NEWS | 15 Jul 03:09
    • BlueScope Steel lifts profit forecast again
    • Sydney, 15 July (Argus) — Australian steelmaker Bluescope has increased its profit guidance for the 2015-16 year that ended 30 June for the second time in two months, because of stronger margins and higher Asia-Pacific steel prices. The firm expects its preliminary, unaudited underlying
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    • COMMENTARY | 14 Jul 23:25
    • Stainless steel: LME lifts scrap prices
    • Houston, 14 July (Argus) — European and Asian stainless steel scrap prices moved higher this past week following increases in terminal market prices. In Rotterdam, 304 scrap solids traded at 49-50¢/lb this week, up by 2¢/lb from a week earlier. Demand was weaker for 316 scrap which kept
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    • COMMENTARY | 14 Jul 22:37
    • US secondary aluminum: Scrap prices drop
    • Houston, 14 July (Argus) — Smelter-grade scrap prices were mixed this week as some consumers adjusted buying to reflect planned summer outages. Old cast prices fell to 57-59¢/lb from 58-59¢/lb a week earlier and old sheet fell to 55-57¢ from 56-58¢/lb. Painted siding prices also fell to
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    • NEWS | 14 Jul 22:05
    • KPS pulls out of Essar Steel Algoma purchase
    • Houston, 14 July (Argus) — Canada-based Essar Steel Algoma today said that perspective buyer KPS Capital (KPS) has pulled out of an agreement to purchase the bankrupt company's assets. Essar Steel Algoma has been undergoing a sales and solicitation process after filing for bankruptcy in
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    • NEWS | 14 Jul 21:54
    • Essar Steel names new CEO to resume ore project
    • Houston, 14 July (Argus) — Essar Steel Minnesota today named a new chief executive, Matthew Stock, who will head the company's bid to resume construction on a stalled 7mn nt/year (6.35mn t) iron ore mine and pellet plant in northern Minnesota. The announcement comes after Essar filed fo
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    • COMMENTARY | 14 Jul 20:31
    • US scrap freight rates to Turkey cooling off
    • London, 14 July (Argus) — Freight rates for scrap cargoes going to Turkey from US east coast ports fell in the past week because of downward pressure from ballasting vessels from Asia and Europe to US ports, along with a fall in cargoes from the US. Rates for scrap cargoes on Supramax v
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    • COMMENTARY | 14 Jul 20:28
    • Turkish scrap: US exporter withdraws after price rise
    • London, 14 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up $4.80/t to $219.90/t on the back of two deep-sea deals concluded today. A St. Petersburg supplier sold 18,000t of HMS 1/2 80:20 at $218.50/t and 4,000t of bonus at $228.50/t cfr Iskende
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    • NEWS | 14 Jul 20:23
    • Genesee & Wyoming quarterly metals traffic declines
    • Genesee Wyoming quarterly metals traffic declines New York, 14 July (Argus) — Shortline railroad company Genesee Wyoming shipped 7.6pc fewer carloads of metals, ores, and minerals across all segments in the second quarter from a year earlier. Genesee moved 150,406 carloads of metals,
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    • COMMENTARY | 14 Jul 20:16
    • US metcoal: Prices rise on tight supply
    • Houston, 14 July (Argus) — Prices of US coking coal for export rose in the latest week amid tighter US supply in the wake of cutbacks, multiple bankruptcies and sales, and a truckers' strike in Colombia. Prices for low-volatile coking coal increased 50¢ to $91.80/t FOB Hampton Roads, Vi
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    • NEWS | 14 Jul 18:20
    • US iron ore production down, shipments up in April
    • Houston, 14 July (Argus) — US production of iron ore decreased by 29.9pc in April from a year earlier. Shipments increased by 19.2pc over the same period. Production decreased to 2.7mn t in April from 3.9mn t a year earlier while shipments increased to 4.3mn t from 3.6mn t a year earlie
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    • NEWS | 14 Jul 18:06
    • US chrome, chrome alloy consumption down in April
    • New York, 14 July (Argus) — Reported US consumption of chrome by content fell by 2.5pc in April from a year as demand for low carbon ferro-chrome weakened. The US consumed 19,800t of chrome by weight during April, down from 20,300t a year earlier, according to data from the US Geologica
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    • NEWS | 14 Jul 17:57
    • VSMPO, Safran sign titanium supply deal
    • London, 14 July (Argus) — Russian titanium manufacturer VSMPO-AVISMA has signed a long-term supply agreement for rolled titanium products with French engine maker Safran. The agreement was signed at the UK's Farnborough International Airshow and builds on a 15-year partnership between t
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    • NEWS | 14 Jul 17:49
    • US molybdenum production falls in April
    • New York, 14 July (Argus) — US molybdenum concentrate production declined by 53pc in April amid ongoing byproduct molybdenum circuit mine suspensions. Molybdenum production totaled 2,110t in April, down from 4,480t a year earlier, according to data from the US Geological Survey (USGS).
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    • NEWS | 14 Jul 17:48
    • Australia's Alkane progresses REE JV talks
    • London, 14 July (Argus) — Australian prospective rare earth and rare metals producer Alkane Resources said it has progressed in discussions with specialist chemicals and advanced materials company Vietnam Rare Earth JSC since signing a preliminary agreement for a rare earth toll processi
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    • NEWS | 14 Jul 17:14
    • Iron ore prices lack fundamental support: Macquarie
    • London, 14 July (Argus) — Lower oil prices and a weaker Chinese currency are providing artificial support for higher iron ore prices in the absence of strengthening market fundamentals, Australian banking group Macquarie said yesterday. Lower forecast crude oil prices of $30-40/bl in th
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    • COMMENTARY | 14 Jul 17:05
    • CIS pig iron: Sales to US boost prices
    • London, 14 July (Argus) — CIS prices of basic pig iron (BPI) have risen this week, on the back of fresh sales to the US and the latest bid and offer indications in the market. And sellers are hopeful of further price gains in the near term, with Turkish buyers now returning to the market
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    • NEWS | 14 Jul 17:04
    • Improving demand boosts NLMK USA production
    • Houston, 14 July (Argus) — NLMK USA increased crude steel production by 38pc in its second quarter, from a year earlier. The company produced 180,000t of crude steel in the second quarter and finished steel output increased by 3pc to 510,000t. In the first half of this year, the compa
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    • NEWS | 14 Jul 16:49
    • BHP casts fresh doubt over 2016 Samarco restart
    • London, 14 July (Argus) — Brazilian iron ore producer Samarco Mineracao is unlikely to resume output at its 25mn t/yr mine in Minas Gerais this year, Anglo-Australian mining firm BHP Billiton said today. Samarco, which is a 50:50 joint venture between BHP and Brazil-based resources grou
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    • NEWS | 14 Jul 16:47
    • LME opens consultation on capping warehousing charges
    • London, 14 July (Argus) — The London Metal Exchange (LME) has proposed imposing caps on how much warehouses can charge customers to control escalating warehousing costs. The proposal has been submitted to members of the exchange for a consultation which will end on 19 August. The LME
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    • NEWS | 14 Jul 16:41
    • Developments in the Philippines to impact nickel prices
    • Houston, 14 July (Argus) — Price forecasts for nickel will be determined by potential mine closures in the Philippines, according to US investment bank Goldman Sachs. The Philippines, which produces 20pc of global nickel supply, announced on 8 July that its Department of Environment an
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    • NEWS | 14 Jul 16:38
    • AISI casts doubt on Chinese steel cutbacks
    • Houston, 14 July (Argus) — The American Iron and Steel Institute (AISI) does not expect China to make meaningful cutbacks to its steel production despite commitments from China's government to do so. In June, China pledged to rein in the country's steel capacity by 100-150mn t/yr by 202
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    • NEWS | 14 Jul 15:56
    • Harsco sees pickup in metals, minerals segment
    • Houston, 14 July (Argus) — US-based industrial services company Harsco sees a "meaningful improvement" in second quarter operating income for its metals and minerals segment. The improvement in the segment has been driven by internal performance initiatives and external market momentum,
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    • NEWS | 14 Jul 14:59
    • Australia's Iluka ups zircon, rutile output in 1H
    • Johannesburg, 14 July (Argus) — Perth-based mineral sands producer ASX-listed Iluka Resources increased its output of zircon, rutile and synthetic rutile in the six months to 30 June, but its ilmenite production was sharply lower than a year earlier. The Perth-based company said zircon
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    • NEWS | 14 Jul 14:45
    • Goldman raises revised forecast for aluminum
    • Houston, 14 July (Argus) — US bank Goldman Sachs has revised its forecasts for 2016 aluminum prices by taking it 10pc higher amid stronger-than-expected demand from China. But the firm still anticipates aluminum prices to decline as they expect "strong growth in Chinese supply to drive
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    • COMMENTARY | 14 Jul 14:44
    • US ferro-alloys: FeTi settles higher on firm demand
    • New York, 14 July (Argus) — US ferro-titanium prices gained for a fourth straight week amid consistent steel mill demand. US ferro-titanium (Ti 70pc) prices increased to $1.85-1.95/lb from $1.77-1.90/lb during the past week. Several 20t lot sales settled between $1.90-1.95/lb, after a p
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    • NEWS | 14 Jul 14:38
    • Consolidated Zinc finds high grades in Mexico
    • Johannesburg, 14 July (Argus) — Australian mining company Consolidated Zinc has confirmed high grade zinc and lead mineralisation at its Plomosas base metals project in Mexico. A finalised mineral resource estimate is expected before the end of the year, the Perth-based company said. A
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    • COMMENTARY | 14 Jul 14:26
    • US ferro-alloys: FeMo, FeV slide, FeTi edges up
    • New York, 14 July (Argus) — US ferro-molybdenum and ferro-vanadium prices declined in the latest week amid easing supplies and summer slowdowns. Meanwhile, consistent low-volume demand supported offers for ferro-manganese and ferro-silicon. FeCr US high carbon ferro-chrome (Cr 60pc C 6
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    • NEWS | 14 Jul 14:20
    • India's Nalco obtains lease for Pottangi bauxite mines
    • Mumbai, 14 July (Argus) — Indian state-controlled metal and mining company National Aluminium (Nalco) has received a mining lease for the Pottangi bauxite mines in the eastern state of Odisha. The mining lease for Pottangi mine covers 1,738 hectares and runs for 50 years. The new bauxit
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    • NEWS | 14 Jul 14:12
    • Copper prices seen declining amid rising oversupply
    • Houston, 14 July (Argus) — Copper prices are forecast to decline this year and next as mine expansions and commissioning of new mines will accelerate the increase in supply, according to US bank Goldman Sachs. The bank forecasts London Metal Exchange copper to average $4,565/t ($2.07/l
    • Read more
    • NEWS | 14 Jul 14:09
    • Capesize ship scrapping falls globally
    • London, 14 July (Argus) — Capesize ship scrapping declined sharply in the second quarter as the monsoon season in India, Pakistan and Bangladesh limited scrappers' demand and higher market rates discouraged owners from deleting additional ships. A total of 24 Capesize vessels were scrap
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    • NEWS | 14 Jul 11:22
    • Norway's Norsk Titanium bags orders for aerospace parts
    • London, 14 July (Argus) — Norwegian titanium 3D printing company Norsk Titanium has secured orders from leading aerospace companies at this week's Farnborough International Airshow as it increases production capability. Norsk Titanium signed an agreement with Thales Alenia Space, the jo
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    • NEWS | 14 Jul 10:09
    • Orion secures option for South African Ni/Cu project
    • Johannesburg, 14 July (Argus) — Perth-based Orion Gold has secured the right to earn up to 80pc of the Jacomynspan nickel-copper project in South Africa's Northern Cape province. The company can earn its interest by completing a feasibility study at the project which has an estimated re
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    • NEWS | 14 Jul 10:09
    • Orion secures option for S Africa Ni/Cu project
    • Johannesburg, 14 July (Argus) — Perth-based Orion Gold has secured the right to earn up to 80pc of the Jacomynspan nickel-copper project in South Africa's Northern Cape province. The company can earn its interest by completing a feasibility study at the project which has an estimated re
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    • NEWS | 14 Jul 09:01
    • Australian Tin Resources plans tailing processing plant
    • London, 14 July (Argus) — Australian explorer and developer Australian Tin Resources (ATR) is aiming to build a pilot plant for processing tin tailings at the site of the now closed Ardlethan tin mine in New South Wales. The results of bulk testing were encouraging and the company is t
    • Read more
    • COMMENTARY | 13 Jul 22:57
    • Aluminium: Weak demand hits premiums in EU, Korea
    • Houston, 13 July (Argus) — A lack of demand for physical aluminium due to seasonal plant shutdowns in several regions of the world led to weaker premiums in the latest week. Primary aluminium remains well supplied across the world which has added to the downward pressure facing premiums
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    • ANALYSIS | 13 Jul 22:05
    • Zinc prices forecast to outperform
    • Houston, 13 July (Argus) — US bank Goldman Sachs has revised its forecasts for 2016 zinc prices 8pc higher on accelerating infrastructure buildup in China and a widening supply deficit. While the firm had already viewed zinc as the "bullish exception" in previous forecasts, Chinese dema
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    • NEWS | 13 Jul 21:44
    • Bonnell Aluminum facility to stay down for months
    • Houston, 13 July (Argus) — US extruder Bonnell Aluminum has confirmed that its Newnan, Georgia, casting house will be down for "several months" before normal operations resume. The cast house suffered an explosion on 29 June injuring five. The closure of the casting facility has not aff
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    • COMMENTARY | 13 Jul 21:29
    • US copper scrap: Bare bright spreads steady
    • Houston, 13 July (Argus) — Consumer buying price spreads for No. 1 bare bright were at level September Comex to 2¢/lb over Comex Wednesday, flat for a fifth week. Traded volumes were healthy as cash Comex has gained 12¢/lb since 8 July. The price of Comex copper for the most active con
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    • NEWS | 13 Jul 21:23
    • Baja to cut underground mining in half
    • New York, 13 July (Argus) — Canadian-based mine developer Baja Mining plans to decrease underground mining by 50pc while offsetting the reduction with an equal increase in surface production. Baja shipped 6,309t of copper cathode through May with an average feedstock grade of 1.04pc, t
    • Read more
    • COMMENTARY | 13 Jul 21:19
    • US aluminum: Midwest premium falls
    • Houston, 13 July (Argus) — The US midwest premium for primary aluminum fell this week as traders reported a drop in inquiries. Consumer demand dropped because of seasonal maintenance shutdowns of plants. The premium decreased to 6.9-7¢/lb this week, from 7-7.25¢/lb a week earlier. The
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    • NEWS | 13 Jul 21:16
    • US aluminum scrap: UBC spreads weaken
    • Houston, 13 July (Argus) — Used aluminum beverage can spreads softened for a second week as some consumers stepped out of the market resulting in less competition for supply. Consumers purchased UBCs at approximately 76-77pc of the Argus midwest transaction price, down from 77-79pc a
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    • COMMENTARY | 13 Jul 21:16
    • US copper: Premiums flat in thin trade
    • Houston, 13 July (Argus) — US copper cathode premiums were unchanged for a fourth week as spot activity remained muted. Cathode grade A premiums were at 6-7¢/lb delivered midwest consumer Wednesday. A preponderance of deals were in the low to mid-6¢ range. Physical spot copper activit
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    • NEWS | 13 Jul 19:56
    • China to challenge US stainless steel duties at WTO
    • Houston, 13 July (Argus) — China plans to challenge the US before the World Trade Organization (WTO) over a decision by the US Commerce Department this week to levy anti-subsidy duties as high as 193.12pc on imports of Chinese stainless steel sheet and strip. China's Ministry of Commerc
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    • COMMENTARY | 13 Jul 18:11
    • Turkish scrap: US and European sales 'set market floor'
    • London, 13 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up by 30¢/t today to $215.10/t on the back of four cargo bookings concluded today and yesterday. The prices of today's cargoes were slightly higher compared to prices of yesterday's cargoes
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    • NEWS | 13 Jul 17:51
    • Steel demand less sensitive to China stimulus: Goldman
    • London, 13 July (Argus) — Increased levels of corporate debt, higher land prices and a shift to light industry have eroded the responsiveness of Chinese steel demand to economic stimulus, according to analysis by US investment bank Goldman Sachs. The bank said in a note published yester
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    • NEWS | 13 Jul 17:36
    • Capstone Mining boosts copper output
    • Houston, 13 July (Argus) — Vancouver-based Capstone Mining boosted copper output by a third in the second quarter from a year earlier, as its Pinto Valley mine reached record quarterly output. Capstone produced 28,100t of copper in concentrate in the quarter, compared with 21,100t in th
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    • NEWS | 13 Jul 17:25
    • Aluminum extrusion shipments up in US, Canada
    • Houston, 13 July (Argus) — April shipments of wrought alloys and extrusion billet from Canadian and US producers rose by 47.6pc from a year earlier, as US companies reported steady increases in year-to-date extrusion shipments. April shipments of billet and wrought alloys rose to 62,000
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    • NEWS | 13 Jul 17:10
    • Tin smelting feed market in oversupply
    • London, 13 July (Argus) — The global tin smelting feed market is in oversupply with a feed capacity of 1.08mn t/yr and tin refining capacity of just 633,000 t/yr according to UK-based industry association the International Tin Research Institute. Utilization rates for tin smelting stoo
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    • NEWS | 13 Jul 17:04
    • Nemaska Lithium begins drilling to extend Quebec mine
    • London, 13 July (Argus) — Explorer Nemaska Lithium has started a targeted drilling programme aimed at extending the mine life and increasing the mineral resource of its Whabouchi lithium project in Quebec province, Canada. The programme, expected to be completed by September, will invol
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    • NEWS | 13 Jul 16:49
    • US files WTO case against China on copper, minor metals
    • Houston, 13 July (Argus) — The US has launched a new trade enforcement action against China at the World Trade Organization (WTO), accusing it of failing to eliminate export duties on copper, tin, lead, cobalt and five other raw materials. The US said China had agreed to eliminate these
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    • NEWS | 13 Jul 16:46
    • Cauquenes ramp-up lifts Amerigo 2Q copper output
    • Sao Paulo, 13 July (Argus) — Canada-based metals processor Amerigo Resources said copper production increased by 57.5pc to a quarterly record in April-June as it ramps up output in Chile. Output rose to 14.36mn lbs from 9.12mn lbs a year earlier and was 11.7pc higher than January-March
    • Read more
    • NEWS | 13 Jul 15:46
    • Buffalo scraps Upstate Shredding project
    • Houston, 13 July (Argus) — Buffalo city council members have voted to not move forward with Oswego-based Upstate Shredding's proposal to buy a metal shredding and recycling operation in the city. The 23.5 acre site, which is currently owned by Gerdau Ameristeel, has operated as a metal
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    • NEWS | 13 Jul 15:20
    • Mexico addresses tariff elusion by Chinese steel makers
    • Houston, 13 July (Argus) — Mexico has determined that cold rolled steel sheets from China eluded tariffs by adding low levels of boron to its products. In a decision announced Monday, the country's ministry of economy ruled that most Chinese cold rolled steel products with boron levels
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    • NEWS | 13 Jul 15:12
    • Tata Steel targets Kalinganagar expansion
    • Singapore, 13 July (Argus) — Indian private-sector steelmaker Tata Steel is pushing ahead with expansion of its Kalinganagar steel project in east India's Orissa state. "Today [the Kalinganagar plant] is buzzing with activity and this is just the beginning. The operation has the potenti
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    • NEWS | 13 Jul 15:07
    • China's steel exports rise in June
    • Singapore, 13 July (Argus) — China's steel exports accelerated in June, as the depreciation of the yuan made export prices cheaper. Exports totalled 10.94mn t in June, up by 16.1pc from May. Exports were 23pc higher against a year earlier. Cumulative January-June exports were higher by
    • Read more
    • NEWS | 13 Jul 14:51
    • Thompson Creek's copper output falls
    • Houston, 13 July (Argus) — Colorado-based copper producer Thompson Creek Metals cut production of payable copper by 28pc in the second quarter from a year earlier because of scheduled downtime at its Mount Milligan mine, while its copper sales fell by 4.2pc. Still, Thompson Creek held i
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    • NEWS | 13 Jul 14:49
    • Essar Global-backed group seeks Steel Algoma purchase
    • Houston, 13 July (Argus) — Ontario Steel Investment, which is comprised of "steel industry specialists" and shareholders of Essar Global, has signed a letter of intent with the United Steelworkers (USW) union to negotiate the framework of an acquisition of Essar Steel Algoma. Earlier t
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    • COMMENTARY | 13 Jul 14:35
    • US minor metals: Selenium surges, indium falls
    • New York, 13 July (Argus) — US selenium prices surged during the latest week amid continued tightness and strong offshore demand. Selenium (Se 99.5pc) prices rose to $8.25-10.00/lb from $7.20-8.50/lb a week earlier, rallying for an eighth straight week. Offshore supplies of the metal ti
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    • NEWS | 13 Jul 11:39
    • Ardiden secures third Canadian lithium project
    • Johannesburg, 13 July (Argus) — Australian lithium and graphite explorer Ardiden has secured its third lithium project in Canada by acquiring the Root Bay project in Ontario. The project comprises three claims covering 720 hectares and is situated 5km east of its existing Root Lake proj
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    • NEWS | 13 Jul 11:32
    • Inquiry continues to hold up Korea Zinc maintenance
    • London, 13 July (Argus) — Maintenance at South Korean firm Korea Zinc's plant in Ulsan has yet to resume because of a continuing investigation into a sulphuric acid spill that injured six subcontractors on 28 June. The 3-4 weeks of routine maintenance was originally planned to finish
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    • NEWS | 13 Jul 11:25
    • Australian Vanadium sells first flow battery
    • Johannesburg, 13 July (Argus) — Perth-based Australian Vanadium has sold its first vanadium flow battery and started the construction of a vanadium electrolyte pilot plant. The company aims to produce batteries for its domestic market and Asia-Pacific. The firm's manufacturing and distr
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    • NEWS | 13 Jul 11:23
    • China’s rare earth exports up in January-June
    • China's rare earth exports up in January-June Beijing, 13 July (Argus) — China exported 23,213t of rare earths in the first half of 2016, up by 67.2pc from 13,880t exported a year earlier, according to official trade data. Export revenues in January-June totalled Yn1.11bn ($167.1mn), nu
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    • NEWS | 13 Jul 10:49
    • China chrome ore port stocks fall sharply
    • Beijing, 13 July (Argus) — Chrome ore stocks at China's main ports have fallen by 222,000t to 1,207,000t, from 1,429,000t at the beginning of July. The decrease is the result of reduced shipments and bulk buying from ferro-chrome smelters in southern China, most of which have restarted
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    • NEWS | 13 Jul 10:44
    • Honda to adopt new NdFeB magnet free of heavy REEs
    • London, 13 July (Argus) — Japanese automobile manufacturer Honda plans to incorporate a new neodymium-iron-boron (NdFeB) permanent magnet free of the heavy rare earth elements (REEs) dysprosium and terbium, into the driving motor of the company's new hybrid electric model. NdFeB permane
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    • NEWS | 13 Jul 10:25
    • China's Tianqi Lithium forecasts big rise in 1H profits
    • Beijing, 13 July (Argus) — China's largest lithium salts producer private-sector Shenzhen-listed Tianqi Lithium has issued profits guidance of 720mn-750mn yuan ($108mn-112mn) for the first half of this year. The profit forecast is up sharply from actual profits of Yn41.98mn for the firs
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    • NEWS | 13 Jul 08:00
    • IEA tweaks 2016 oil demand growth forecast
    • London, 13 July (Argus) — The IEA has edged up its forecast for global oil demand growth this year to 1.38mn b/d in its latest Oil Market Report (OMR). It projected a rise of 1.33mn b/d in last month's report . "The upgrade is largely attributable to Europe's resilience," the OMR sai
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    • COMMENTARY | 12 Jul 23:16
    • Copper: Global cathode premiums weaken
    • Houston, 12 July (Argus) — Copper cathode premiums dropped in key regions this past week amid a drop in copper consumption. Grade A copper cathodes dropped by $5/t to $30-40/t in-warehouse Rotterdam Tuesday and are expected to remain under downward pressure. Business conditions though s
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    • NEWS | 12 Jul 23:11
    • Grupo Simec to build new steel plants in Mexico
    • Houston, 12 July (Argus) — Mexican steel producer Grupo Simc plans to build a 600,000t/yr steel mill in northern Mexico to meet growing demand. The new special bar quality (SBQ) products mill will require an estimated investment of $700mn, the company said. The company also plans to in
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    • NEWS | 12 Jul 22:54
    • Codelco mulls private sector alliances
    • Sao Paulo, 12 July (Argus) — Chile's state controlled copper-molybdenum producer, Codelco, is considering strategic alliances with private sector companies. Following sharp falls in copper prices the miner is considering a range of options to plug gaps in funding for a portfolio of deve
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    • NEWS | 12 Jul 22:45
    • US aluminum scrap: Mill-grade spreads tighten
    • Houston, 12 July (Argus) — Aluminum scrap spreads narrowed for some mill-grades this week as tight supply of spot material supported prices amid summer maintenance slowdowns. London Metal Exchange cash official aluminum prices rose to $1,640.50/t (74.4¢/lb) Tuesday from $1,624/t (73.6¢/
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    • NEWS | 12 Jul 22:35
    • Alcoa expects aluminum in auto to grow with new alloys
    • Houston, 12 July (Argus) — Alcoa chief executive Klaus Kleinfeld expects automotive use of existing aluminum alloys to grow by 20pc between 2015 and 2020. Aluminum use in automotive hoods is expected to increase to 28pc from 6pc between 2015 and 2020, according to Kleinfeld. The metal's
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    • NEWS | 12 Jul 22:22
    • Higher gas prices seen lifting production: EIA
    • Houston, 12 July (Argus) — The recent rally in natural gas prices should continue through the second half of 2016, lifting production, the US Energy Information Administration (EIA) said today. Henry Hub spot prices in June averaged $2.52/mmBtu, up by a third from the previous month and
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    • NEWS | 12 Jul 22:15
    • US levies preliminary duties on Chinese stainless steel
    • New York, 12 July (Argus) — The US Commerce Department set preliminary countervailing duties on imports of Chinese stainless steel sheet and strip today. As a result of the its preliminmary determination, 12 Chinese companies including Ningbo Baoxin Stainless, Baosteel Stainless, and Ba
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    • COMMENTARY | 12 Jul 20:49
    • Latam metcoal: Strike prompts force majeure: Update
    • Houston, 12 July (Argus) — A truckers' strike in Colombia that is in its sixth week is blocking delivery of coking coal and coke from the interior to export ports, delaying shipments and prompting at least two companies to declare "force majeure". Metallurgic coke exporter Carbones Andi
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    • NEWS | 12 Jul 19:58
    • Global semiconductor market to grow slightly in 2016
    • New York, 12 July (Argus) — Worldwide semiconductor equipment sales are expected to grow by 1.1pc in 2016, led by stronger wafer processing sales from a year earlier. Semiconductor equipment sales are projected to total $36.9bn in 2016, up from $36.5bn in 2015, according to estimates t
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    • NEWS | 12 Jul 19:41
    • Mexico extends tariffs on US steel pipe
    • Houston, 12 July (Argus) — Mexico's Economy Ministry extended until 2020 tariffs as high as 25.43pc on steel carbon pipes with straight longitudinal seams imported from the US. In its decision published yesterday in the government's official gazette, the ministry extended a 6.77pc tari
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    • COMMENTARY | 12 Jul 19:25
    • Latam metcoal: Prices rise amid strike
    • Houston, 12 July (Argus) — A truckers' strike in Colombia that is in its sixth week is blocking delivery of coking coal and coke from the interior to export ports, delaying shipments. The strike that began on 6 June has turned violent, amid reports of rocks hurled at buses, trucks and o
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    • NEWS | 12 Jul 19:11
    • BP fined $20mn for alleged gas price manipulation
    • Washington, 12 July (Argus) — The Federal Energy Regulatory Commission (FERC) has approved a $20.2mn penalty against BP for allegedly manipulating natural gas prices following Hurricane Ike's landfall in Texas in September 2008. FERC made public its accusations that BP manipulated gas p
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    • NEWS | 12 Jul 18:46
    • EIA boosts WTI, Brent price forecasts
    • Houston, 12 July (Argus) — The US Energy Information Administration (EIA) moved its 2016 estimate for WTI and Brent prices slightly higher and predicted continued parity between the two benchmarks. The agency said WTI prices this year would average $43.57/bl, up by 74¢/bl from the prev
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    • NEWS | 12 Jul 17:42
    • Weak steel prices dent Metinvest's revenues
    • London, 12 July (Argus) — Weaker steel pricing more than offset increases in Ukrainian steelmaker Metinvest's sales in the first quarter, with revenues dropping by 29pc on the year to $1.29bn. Higher sales of square billets and long products were outweighed by lower prices across all st
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    • NEWS | 12 Jul 17:41
    • Turkish steel exports rise in June
    • London, 12 July (Argus) — Turkish steel exports increased by 23pc on the year to 1.6mn t in June, as a result of deals concluded in April and May when steel product prices firmed amid strong international demand. Turkish steel exports rose by 3pc on the year in the first half, to 8.4mn
    • Read more
    • COMMENTARY | 12 Jul 17:33
    • Iron ore swaps: curve reacts to futures rises
    • London, 12 July (Argus) — Iron ore swaps prices saw significant gains across the forward curve today, as traders reacted to the upward surge in futures contracts for both iron ore and steel. The sharpest increases were seen in the August contract, which settled on average $2.80/t higher
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    • NEWS | 12 Jul 17:31
    • Metinvest’s domestic raw materials sales recover
    • Metinvest's domestic raw materials sales recover London, 12 July (Argus) — The mining arm of Ukrainian steel producer Metinvest increased steelmaking raw materials sales to local customers by 52pc year on year in the first quarter. The jump in domestic deliveries more than offset sharp de
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    • NEWS | 12 Jul 17:27
    • Northwest Pipe to close and sell Denver facility
    • Houston, 12 July (Argus) — Vancouver, Washington-based Northwest Pipe will permanently close its Denver water pipe production facility by the end of this year. The facility, which represents approximately 20pc of the companies steel water pipe capacity, is scheduled to conclude product
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    • COMMENTARY | 12 Jul 17:13
    • Turkish scrap: Turkey bags European cargoes
    • London, 12 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved down by 30¢ to $214.80/t cfr Turkey on the back of bookings from UK and continental Europe. A UK supplier sold a consignment consisting of 23,000t of HMS 1/2 80:20 at $211/t, 5,000t of shre
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    • NEWS | 12 Jul 16:54
    • US raises duties on some Vietnamese pipe producers
    • Houston, 12 July (Argus) — The US has raised preliminary antidumping duties on two Vietnamese producers of circular welded carbon-quality steel pipe because of "significant ministerial errors". Producers Vietnam Haiphong Hongyuan Machinery Manufactory and Hoa Phat Steel Pipe will now fa
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    • ANALYSIS | 12 Jul 16:45
    • Chinese indium exports rise to maximise trades
    • London, 12 July (Argus) — Exports of indium from China increased between January and May, despite low export prices and persistent oversupply. Chinese indium production and exports increased, despite export prices at their lowest since at least November 2009. Total exports of unwrought
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    • NEWS | 12 Jul 16:40
    • US ports to receive millions in DOT grants
    • New York, 12 July (Argus) — The US Department of Transportation (DOT) proposed awarding grants totaling more than $115mn to five US port projects as part of its grant program for nationally significant projects. The proposed port grants include $44mn to the Georgia Ports Authority for i
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    • NEWS | 12 Jul 16:24
    • Turkish vehicle registrations rise in May
    • London, 12 July (Argus) — The number of new motor vehicles registered in Turkey totalled 116,000 in May, up by 8pc from April and higher by 5pc on the year, data from statistical institute TUIK show. Of May's total, 71,100 units or 61.3pc were cars, up from 64,500 in April and 62,100 in
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    • NEWS | 12 Jul 16:01
    • Boeing, Airbus forecast $5 trillion aircraft demand
    • London, 12 July (Argus) — US-based aircraft manufacturer Boeing forecasts global demand for 39,620 new commercial aircraft valued at more than $5.9 trillion in the next 20 years, in its latest Current Market Outlook to 2035. Rival aircraft manufacturer Airbus predicted demand for 33,0
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    • NEWS | 12 Jul 15:54
    • US brass mill imports fall in May
    • Houston, 12 July (Argus) — US imports of brass mill products fell by 9.2pc in May from the same month a year earlier. Imports of brass mill products totaled 42.7mn lbs in May, compared with 47.1mn lbs the same month a year earlier, the Copper and Brass Fabricators Council said today. Y
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    • COMMENTARY | 12 Jul 15:51
    • US minor metals: Silicon falls on thin trading
    • New York, 12 July (Argus) — US silicon metal prices fell during the past week amid thin spot market trading. Silicon metal (Si 98.5pc) prices decreased to 89-93¢/lb from 91-93¢/lb a week earlier. US traders and suppliers lowered offers early in the week in an attempt to increase demand.
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    • NEWS | 12 Jul 15:34
    • Copper Mountain’s second quarter output rises 8.7pc
    • Copper Mountain's second quarter output rises 8.7pc Houston, 12 July (Argus) — Vancouver-based Copper Mountain Mining produced 8.7pc more copper in the second quarter than the same period a year earlier and the producer is "on track" to meet its production guidance for the year. Copper M
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    • NEWS | 12 Jul 15:11
    • Russia's Kosaya Gora boosts ferro-manganese sales
    • London, 12 July (Argus) — Russian ferro-manganese and pig iron producer Kosaya Gora increased its shipments of ferro-manganese in the first half by 10.1pc on the year to 29,600t. The company mainly supplies buyers in Russia and Belarus. It increased shipments of pig iron by 14.6pc to 6
    • Read more
    • COMMENTARY | 12 Jul 14:45
    • US minor metals: Cobalt rises on strong demand
    • New York, 12 July (Argus) — US high-grade cobalt prices increased during the latest week as spot market demand outpaced near-term supplies. High-grade cobalt (Co 99.8pc) prices rose to $11.20-11.90/lb from $11.00-11.55/lb a week earlier. Spot market inquiries were up during the latest w
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    • NEWS | 12 Jul 14:33
    • Baosteel to cut 9.2mn t/yr capacity by 2018
    • Singapore, 12 July (Argus) — China's state-run Baosteel aims to eliminate 9.2mn t/yr of steel production capacity by 2018. The capacity reduction plan will involve Baosteel's flagship plant in Shanghai as well as subsidiaries. It is the biggest capacity cut announced by a Chinese state-
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    • NEWS | 12 Jul 14:31
    • G20 cites steel overcapacity issues
    • Singapore, 12 July (Argus) — Excess capacity in commodities such as steel have been exacerbated by weak global economic growth and created negative impact on trade and workers globally, trade ministers of the G20 grouping of major economies said after a meeting in China's Shanghai. Subs
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    • COMMENTARY | 12 Jul 14:23
    • USW moves to block KPS bid for Essar Steel Algoma
    • Houston, 12 July (Argus) — The United Steelworkers (USW) union filed a motion to block hedge fund KPS Capital's bid to purchase Ontario-based Essar Steel Algoma, saying KPS's bid was contingent on a new labor agreement that would abolish current pension and other labor benefits. Essar S
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    • NEWS | 12 Jul 13:52
    • Tharisa aims at 1.25mn t chrome, 129,400oz PGMs in FY16
    • Johannesburg, 12 July (Argus) — Cyprus-based chrome and platinum group metals producer Tharisa is on track to achieve guidance of 1.25mn t of chrome concentrate and 129,400 ounces of platinum group metals (PGMs) in its financial year to 30 September. It produced 307,100t of chrome conce
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    • NEWS | 12 Jul 12:43
    • China’s Ganfeng Lithium invests in value-added products
    • China's Ganfeng Lithium invests in value-added products Beijing, 12 July (Argus) — Chinese private-sector Shenzhen-listed Jiangxi Ganfeng Lithium has announced new projects aimed at developing its value-added lithium product business. The company will invest 302.8mn yuan ($45.3mn) in th
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    • NEWS | 12 Jul 12:06
    • Birimian to complete Mali Li scoping study by year end
    • Johannesburg, 12 July (Argus) — Perth-based ASX-listed mining firm Birimian is on track to complete a scoping study at its Bougouni lithium project in southern Mali and release a mineral resource before the end of the year. The company said assays received from recent drilling indicate
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    • NEWS | 12 Jul 11:43
    • Mt Caitlin JV signs second Li offtake agreement
    • Johannesburg, 12 July (Argus) — Australian joint-venture mining partners ASX-listed Galaxy Resources and General Mining have signed a second offtake agreement for lithium from their Mt Caitlin project in Western Australia. The partners said a $4.5mn pre-payment has been received from Ja
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    • NEWS | 12 Jul 11:43
    • Australian partners sign second Li offtake agreement
    • Johannesburg, 12 July (Argus) — Australian joint-venture mining partners ASX-listed Galaxy Resources and General Mining have signed a second offtake agreement for lithium from their Mt Caitlin project in Western Australia. The partners said a $4.5mn pre-payment has been received from Ja
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    • NEWS | 12 Jul 11:03
    • US Boeing wins $660mn ALC order for 737 Max jets
    • London, 12 July (Argus) — US aerospace manufacturer Boeing and aircraft lessor Air Lease (ALC) announced an order for six 737 MAX 8 aircraft at the 2016 Farnborough International Airshow today. The order is valued at $660mn at current list prices. Three of the orders are new and three w
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    • NEWS | 11 Jul 22:21
    • Alcoa sees shrinking global aluminum deficit
    • Houston, 11 July (Argus) — US aluminum producer Alcoa reduced its forecast for 2016 global aluminum deficits as projected growth of supply has picked up since the end of the first quarter. The company today revised its forecast for aluminum supply growth upward to 2.5pc from a prior 2pc
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    • NEWS | 11 Jul 21:21
    • US revokes Italian, Spanish stainless rod duties
    • New York, 11 July (Argus) — The US International Trade Commission (USITC) revoked existing antidumping duties against imports of stainless steel wire rod from Italy and Spain, while maintaining them on products from Japan, South Korea and Taiwan. The USITC on 8 July revoked duties again
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    • NEWS | 11 Jul 20:36
    • Weak Great Lakes drives US raw steel production down
    • Houston, 11 July (Argus) — US raw steel production fell by 1.4pc in the week ended 9 July compared to a week earlier, following declining output in five of the six documented districts. Output in the latest week decreased to 1.71mn net tons (1.55mn metric tonnes) from 1.74mn nt a week
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    • COMMENTARY | 11 Jul 20:16
    • US zinc: Metal at 1-year high on shortage concerns
    • Houston, 11 July (Argus) — US zinc premiums rose by a half penny this week amid tight supply and expectations that shortages may emerge after exchange traded prices for primary zinc rose to their highest in more than a year. The US zinc premium was at 7-8¢/lb delivered Monday, up from 6
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    • NEWS | 11 Jul 19:53
    • US, Canadian rail regulators seek more cooperation
    • Washington, 11 July (Argus) — US and Canadian railroad regulators are meeting today in Ottawa, Ontario, to discuss how to better work together. US Surface Transportation Board chairman (STB) Dan Elliott made the trip at the invitation of Canadian Transportation Agency (CTA) chief execut
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    • NEWS | 11 Jul 19:49
    • Norsk to build titanium component plant in New York
    • New York, 11 July (Argus) — Norwegian aerospace component manufacturer Norsk Titanium expects to start operations at its largest industrial-scale metal additive manufacturing plant in New York state by the end of 2017. The facility will be located in Plattsburgh, New York, and is a part
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    • NEWS | 11 Jul 19:06
    • Spirit to upgrade aerostructure facilities
    • New York, 11 July (Argus) — Kansas-based aerostructure manufacturer Spirit AeroSystems has begun upgrades to its Plant 2 facilities, which currently produce Boeing 737 structures. Spirit will install robotic drilling and fastening, expand the propulsion manufacturing facility and build
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    • COMMENTARY | 11 Jul 19:02
    • EU secondary aluminium: Ingot prices rise
    • Houston, 11 July (Argus) — German and UK secondary aluminium ingot prices moved higher in the latest week, largely reflecting currency fluctuations following the 23 June UK vote to leave the EU. Secondary ingot producers succeeded in pushing prices higher even amid slightly weaker deman
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    • NEWS | 11 Jul 18:06
    • US aluminum scrap exports fall in May
    • Houston, 11 July (Argus) — US exports of aluminum scrap fell by 11pc to 122,158t in May from a year earlier. Exports other than used beverage cans (UBC) and remelt scrap ingot (RSI) fell by 10pc to 114,199t. RSI exports were down by 36pc at 4,043t and UBC exports fell by 18pc to 3,915t
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    • NEWS | 11 Jul 18:03
    • More than 33,000 new jets needed by 2035: Airbus
    • London, 11 July (Argus) — The aviation sector will need to add more than 33,000 commercial aircraft to the global fleet in the next 20 years, according to Airbus' latest Global Market Forecast , released to coincide with the launch of the Farnborough International Airshow. The France-b
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    • COMMENTARY | 11 Jul 18:00
    • Turkish scrap: Mills approach sellers on first day back
    • London, 11 July (Argus) — Turkish mills contacted deep-sea scrap suppliers on the first day back after the Bayram holiday, reaching out to at least one supplier in each of the deep-sea scrap supplying regions — the US, Europe and Russia's St Petersburg. No firm bids or offers have been
    • Read more
    • NEWS | 11 Jul 17:44
    • Mexican mining firm boosts copper output
    • London, 11 July (Argus) — Mexican mining company MMB's copper, cobalt and zinc project in Santa Rosalia, Mexico, produced 5,000t of copper cathode and shipped 6,300t in the first five months of this year, compared with copper cathode production of 7,300t for the whole of 2015. MMB has r
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    • NEWS | 11 Jul 17:41
    • Volatility dogs steel, scrap markets: Irepas
    • Riga, 11 July (Argus) — Global prices for long steel products and ferrous scrap remain volatile, as they have been throughout this year. Demand, muffled by lower summer trading activity, will continue to challenge suppliers, despite low inventories, international rebar producer associati
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    • NEWS | 11 Jul 17:19
    • Banks split on iron ore price forecasts
    • London, 11 July (Argus) — US bank Citi Group has stuck to its price outlook for 62pc Fe iron ore cfr China, despite acknowledging market instability. "The spot iron ore price has been extremely volatile in 2016… but is not yet falling sharply as we enter the second half of 2016, as had
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    • NEWS | 11 Jul 17:14
    • More than 33,000 new jets needed by 2035: Airbus
    • London, 11 July (Argus) — The aviation sector will need to add more than 33,000 commercial aircraft to the global fleet in the next 20 years, according to Airbus' latest Global Market Forecast , released to coincide with the launch of the Farnborough International Airshow. The France-b
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    • NEWS | 11 Jul 17:00
    • Goldfields Lithium Alliance secures exploration rights
    • Johannesburg, 11 July (Argus) — Australia's Goldfields Lithium Alliance has acquired exploration rights for the Widgiemooltha lithium project, 25km south of the Mount Marion lithium mine in Western Australia. The rights cover 81km² and include a confirmed 1.8km of exposed lithium-contai
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    • NEWS | 11 Jul 16:50
    • Boeing signs UK defence, investment deals
    • London, 11 July (Argus) — The UK government has announced a strategic partnership with aircraft manufacturer Boeing that includes a £3bn ($3.9bn) deal for new marine aircraft. The deal will last 10 years and cover the purchase of nine new Poseidon P8 marine patrol aircraft and building
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    • NEWS | 11 Jul 16:38
    • US copper scrap exports fall in May
    • Houston, 11 July (Argus) — US exports of copper scrap fell by 14.3pc in May from a year earlier, led by declines in shipments of No. 2 scrap, refined and other scrap material. Exports of copper scrap fell to 81,335t in May from the same month a year earlier, according to US Commerce Dep
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    • NEWS | 11 Jul 16:35
    • Gränges wins Noranda Aluminum downstream auction
    • Houston, 11 July (Argus) — Swedish rolled aluminum producer Gränges has been selected as the winning bidder in a court-supervised auction for the downstream assets of the vertically integrated US smelter Noranda Aluminum, which filed for chapter bankruptcy in February. Gränges' winning
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    • NEWS | 11 Jul 16:09
    • Canada's Bacanora makes progress on lithium project
    • London, 11 July (Argus) — Canadian mineral exploration company Bacanora Minerals is working to optimise lithium recovery at its pilot processing plant while progressing with a definitive feasibility study on its Sonora lithium project in Mexico. The company expects to complete the study
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    • NEWS | 11 Jul 14:37
    • German electric car subsidy scheme launch sucessful
    • London, 11 July (Argus) — The number of applications submitted for Germany's new electric car subsidy scheme is in line with expectations, German export control office Bafa said today. The programme launched on 2 July. Bafa has received 718 applications since then, it said today. The o
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    • NEWS | 11 Jul 14:37
    • German electric car subsidy scheme launch successful
    • London, 11 July (Argus) — The number of applications submitted for Germany's new electric car subsidy scheme is in line with expectations, German export control office Bafa said today. The programme launched on 2 July. Bafa has received 718 applications since then, it said today. The o
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    • COMMENTARY | 11 Jul 14:18
    • US ferro-alloys: Oversupply weakens FeCr market
    • New York, 11 July (Argus) — US high carbon ferro-chrome prices declined during the past week amid oversupply and low-volume demand. US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices edged down to 84-89¢/lb over the past week from 86-89¢/lb. Offers for the alloy declined as abundant s
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    • NEWS | 11 Jul 14:12
    • Independence hits zinc output guidance, exceeds copper
    • Johannesburg, 11 July (Argus) — Australia-based Independence Group achieved its zinc output guidance for the year to 30 June and surpassed its copper output guidance. The firm's Jaguar mine produced 8,936t of zinc concentrate in April-June and 39,334t in the full fiscal year, at the upp
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    • NEWS | 11 Jul 13:53
    • India's crude steel output falls in June
    • Singapore, 11 July (Argus) — India's crude steel output in June fell by 1.4pc from the previous month to 7.9mn t. But output increased by 5.9pc against a year earlier. Cumulative crude steel output in the first three months of the 2016-17 year that started 1 April rose by 4.2pc against
    • Read more
    • NEWS | 11 Jul 13:50
    • Baosteel, Wisco merger announcement by 28 July
    • Singapore, 11 July (Argus) — China's state-controlled steelmakers Baosteel and Wuhan Iron Steel are expected to make an announcement on their continuing merger talks by 28 July. The two companies have told the Shanghai stock exchange their share trading suspension, announced on 27 Jun
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    • NEWS | 11 Jul 13:49
    • Neometals, Mineral Resources mull Malaysia Li plant
    • Johannesburg, 11 July (Argus) — Australian joint-venture partners Neometals and Mineral Resources will assess the possibility of a lithium carbonate/hydroxide plant in Malaysia following the successful outcome of a feasibility study into their patented Eli technology. The study confirm
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    • NEWS | 11 Jul 13:42
    • UK's Virgin Atlantic places $4.4bn order for A350 jets
    • London, 11 July (Argus) — UK-based airline Virgin Atlantic has placed an order worth $4.4bn with European aircraft manufacturer Airbus for 12 extra wide-body A350-1000 aircraft. The agreement between Virgin and Airbus was announced today at the opening of the Farnborough International A
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    • NEWS | 11 Jul 13:12
    • Jubilee on track with second chrome/PGM tailings plant
    • Johannesburg, 11 July (Argus) — South African mining firm AIM-listed Jubilee Platinum produced 15,188t of chromite concentrate at its Dilokong tailings project in the June quarter and is on track to commission its 55,000 t/month platinum and chrome tailings plant at Hernic Ferrochrome by
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    • NEWS | 11 Jul 13:12
    • Pilbara upgrades Pilgangoora lithium resource
    • Johannesburg, 11 July (Argus) — Australian firm Pilbara Minerals has significantly increased the reported mineral resource at its Pilgangoora hard rock lithium and tantalite project in Western Australia. The project's measured, indicated and inferred resource has risen by 60pc to 128.6
    • Read more
    • NEWS | 11 Jul 10:18
    • Chinese steel mills raise NPI purchase prices
    • Beijing, 11 July (Argus) — Leading Chinese stainless steelmaker Taiyuan Iron and Steel (Tisco) has increased July prices in tenders to buy high-grade nickel pig iron (NPI). Tisco's July tender price rises to 780-820 yuan/metric tonne unit ($118-121/mtu) on a delivered basis, up from Yn
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    • NEWS | 11 Jul 10:15
    • China RE permanent magnet exports up in May
    • Beijing, 11 July (Argus) — Chinese exports of rare earth permanent magnets totalled 2,303t in May, a rise of 10.2pc on a year earlier. The average export price was $48/kg, down by 17.4pc. In January-May China exported 10,370t of rare earth permanent magnets, up by 7.8pc compared with a
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    • NEWS | 11 Jul 09:57
    • China's Fugu Tongyuan starts overhaul at Mg plant
    • Beijing, 11 July (Argus) — Chinese private-sector producer Fugu Tongyuan has started maintenance at its magnesium plant which is expected to last for 1-2 months. The plant, which is located in Yulin city in Shaanxi province, has a production capacity of 20,000 t/yr. Production has falle
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    • NEWS | 11 Jul 09:43
    • ALT Resources flags new Ag/Au/Bi zone in NSW
    • Johannesburg, 11 July (Argus) — Australian base and precious metals explorer ALT Resources has identified a new silver-gold-bismuth mineralisation zone at its Paupong project in New South Wales (NSW). The Lone Ranger zone was discovered through rock chip sampling and soil sampling and w
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    • ANALYSIS | 08 Jul 23:30
    • This Week in Metals: 4-8 July
    • Houston, 8 July (Argus) — As the height of summer approaches, signs are emerging of a slowdown in Europe's largest economies. The impact of the UK's vote to leave the EU may not be seen until August, and summer shutdowns at factories in Europe have always weighed on third quarter figure
    • Read more
    • COMMENTARY | 08 Jul 23:23
    • Prime scrap demand prevents shred from big drops in US
    • Houston, 8 July (Argus) — US steel mills have concluded most purchases for July delivery with national trends pointing to unchanged prices for prime grades, drops of $10/gross ton on heavy melt and plate and structural scrap, and drops of $10-15/gt on shredded scrap. Price drops were lar
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    • NEWS | 08 Jul 23:05
    • Essar Steel Minnesota files for Chapter 11 protection
    • Houston, 8 July (Argus) — Essar Steel Minnesota filed for Chapter 11 bankruptcy protection today as Minnesota moved to terminate the steelmaker's Nashwauk, Minnesota, iron ore mining and steel mill project. Essar filed in the US Bankruptcy Court for the District of Delaware. Essar's sec
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    • COMMENTARY | 08 Jul 22:48
    • Turkish scrap: Market awaits buyers’ return
    • Turkish scrap: Market awaits buyers' return London, 8 July (Argus) — The Turkish market was extremely quiet on the final day of the Bayram holiday while US exporters finalised some July settlements with domestic mills this afternoon. Turkish steel mills will resume business at the start
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    • NEWS | 08 Jul 22:43
    • US suspends 337 probe into Chinese steel imports
    • Houston, 8 July (Argus) — The US International Trade Commission (USITC) suspended until October 2017 an investigation regarding imports of certain carbon and alloy steel products from China because of ongoing proceedings before the Commerce Department. In light of the suspension of the
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    • NEWS | 08 Jul 22:19
    • US aluminum cast alloy shipments drop
    • Houston, 8 July (Argus) — US shipments of aluminum cast alloys fell by 8pc in the first four months of 2016 from the year earlier period, led by a drop in A380 shipments. Domestic shipments of A380 aluminum alloy, the most widely consumed aluminum cast alloy, were down by 4pc from Janua
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    • NEWS | 08 Jul 22:16
    • Great Lakes iron ore shipments fall in June
    • Houston, 8 July (Argus) — Iron ore shipments on the Great Lakes and St. Lawrence Seaway totaled 5.8mn net tons (5.26mn metric tonnes) in June, a 7.3pc fall from year-ago figures according to the Lake Carriers Association. The Cleveland –based trade organization said that US ports accou
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    • NEWS | 08 Jul 21:48
    • Minnesota to terminate Essar mine project
    • Houston, 8 July (Argus) — Minnesota governor Mark Dayton ordered the state's Department of Natural Resources to terminate Essar Steel's Nashwauk, Minnesota mineral leases, following the steelmaker's failure to make progress on a state-backed ore and steel project at the mine site. Dayt
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    • COMMENTARY | 08 Jul 20:54
    • Oil futures: Crude up on US jobs data, supply
    • Houston, 8 July (Argus) — US crude prices rose today, ending a short week that saw both Nymex WTI and Brent plunge nearly 5pc each for two days amid economic uncertainty and higher supplies. Nymex August light, sweet crude futures settled up by 27¢/bl at $45.41/bl, after ending 4.8pc l
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    • COMMENTARY | 08 Jul 20:07
    • Aluminum scrap: Zorba prices fall
    • Houston, 8 July (Argus) — US export zorba prices fell in China trade this week, while export prices were steady in European trading. Zorba, 94pc metallic with 3-4pc red metal content, fell to 59-61¢/lb from 60-62/lb the prior week. Smelters in northern China dropped their prices to 59-6
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    • NEWS | 08 Jul 19:42
    • European cargoes drive US ferrous scrap imports higher
    • Houston, 8 July (Argus) — US ferrous scrap imports rose by 34.3pc in May from the same month a year earlier, boosted by bulk cargoes arriving from Europe. Ferrous scrap imports in May increased to 349,078t from 259,907t during the same month a year earlier, according to US census data.
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    • COMMENTARY | 08 Jul 19:24
    • US stainless: Scrap rises on nickel gain
    • Houston, 8 July (Argus) — US stainless steel scrap prices gained this week as London Metal Exchange nickel prices reached a nine-month high. Supply of both 304 (18-8) and 316 scrap solids remained tight and processors are paying higher prices for tonnage. Scrap flow is still relatively
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    • NEWS | 08 Jul 19:04
    • Chile forecasts copper price at $2.15/lb this year
    • Houston, 8 July (Argus) — The Chilean Copper Commission (Cochilco) kept its 2016 copper price estimate unchanged at $2.15/lb as supply/demand and economic and financial conditions in main global markets remain little changed. Cochilco forecasts copper prices will average $2.20/lb in 201
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    • NEWS | 08 Jul 18:55
    • US and Europe scrap freight rates to Turkey rise
    • London, 8 July (Argus) — Scrap freight rates for cargoes heading to Turkey from the US and Europe rose this week, supported by increased cargo availability but reduced tonnage because of sustained strength in US Gulf rates. Rates for 40,000t scrap cargoes on Supramax vessels from New Je
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    • NEWS | 08 Jul 18:01
    • Tata in talks with ThyssenKrupp on UK steel tie-up
    • London, 8 July (Argus) — Indian-owned steelmaker Tata Steel confirmed today that it is in discussions with German rival ThyssenKrupp AG about a potential deal involving Tata's UK business, which includes the Port Talbot steelworks, but stressed that it was too early to say whether any tr
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    • NEWS | 08 Jul 17:36
    • WEEK IN REVIEW: Slowdown hits Europe
    • London, 8 July (Argus) — As we hit the height of summer, economic data is trickling in and signs are emerging of a slowdown in Europe's largest economies. The post-Brexit vote impact in the UK may not be seen until August, and summer shutdowns at factories in Europe always weight on thi
    • Read more
    • COMMENTARY | 08 Jul 16:44
    • LME copper, aluminium trade lower after selloff
    • London, 8 July (Argus) — London Metal Exchange (LME) copper and aluminium settled lower at the end of the week after a heavy speculative sell-off, particularly in copper. Three-month copper futures traded at $4,696/t on 8 July, down from $4,800/t a week earlier, as speculative investor
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    • NEWS | 08 Jul 16:38
    • Ukraine’s pig iron exports rise as prices fall
    • Ukraine's pig iron exports rise as prices fall Riga, 8 July (Argus) — Ukraine exported 1.8mn t of pig iron in the first half of 2016, a rise of 27.8pc compared with the same period last year, customs data from the country's fiscal service show. Revenues did not rise, as prices have falle
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    • COMMENTARY | 08 Jul 16:34
    • LME nickel volatile as Zn, Pb, Sn higher
    • London, 8 July (Argus) — Nickel was the most volatile metal on the London Metal Exchange (LME) this week as the Philippines closed down two mines in a bid to cut down on environmental damaged caused by local miners. Zinc, lead and tin also traded higher in a move which was prompted by a
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    • NEWS | 08 Jul 16:09
    • Authier Li due diligence close to completion
    • Johannesburg, 8 July (Argus) — Australia's Sayona Mining is close to completing technical and financial due diligence on acquiring the Authier lithium project in Quebec, Canada. The company said the project has a mineral resource of 9.12mn t grading 0.96pc Li20 for 87,302t of lithium.
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    • NEWS | 08 Jul 15:52
    • US confirms duties on German brass imports
    • Houston, 8 July (Argus) — The US has made a final determination that imports of brass sheet and strip from Germany were sold at less than fair value in the US by seven companies while three others made no shipments during the review period. The Commerce Department, in its final determin
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    • NEWS | 08 Jul 15:16
    • Baltimore Scrap sues Republic Steel
    • Houston, 8 July (Argus) — Maryland-based Baltimore Scrap filed a lawsuit against Ohio-based Republic Steel for allegedly failing to pay for scrap shipments. Baltimore Scrap is asking for $1.28mn for Republic Steel's alleged failure to pay for the products, interest accruing from 30 June
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    • NEWS | 08 Jul 14:58
    • US jobs growth surges in June
    • Houston, 8 July (Argus) — US payrolls increased by 287,000 in June, the most in eight months, following revised growth of 11,000 jobs the prior month, the Labor Department reported today. Factory payrolls rose by 14,000 jobs in June, following a decline of 16,000 jobs the prior month. P
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    • NEWS | 08 Jul 14:41
    • Steel exports fall in May
    • Houston, 8 July (Argus) — US steel exports decreased by 7.7pc in May from a year earlier despite an increase in exports to Canada. Exports decreased to 803,464nt (728,890t) in May from a year earlier, according to the American Institute for International Steel. Canada increased its in
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    • NEWS | 08 Jul 14:13
    • Zinc, tin scrap imports rise in May
    • Houston, 8 July (Argus) — US zinc scrap exports decreased in May, while exports of tin scrap soared in the same period. Exports of zinc scrap fell by 29.4pc to 3,754t in May from 5,318t in the same month last year, according to US census data. Year to date, exports fell by 46.3pc to 14
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    • NEWS | 08 Jul 13:23
    • Philippines closes two nickel mines
    • London, 8 July (Argus) — In a bid to crack down on the environmental damage caused by the country's mining industry the Philippine Mines and Geosciences Bureau has ordered the closure of two nickel mines. The mines are owned by BenguetCorp Nickel Mines and Zambales Diversified Metals.
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    • NEWS | 08 Jul 13:04
    • China Mn alloy producers concerned about outlook
    • Beijing, 8 July (Argus) — Chinese manganese alloy producers are pessimistic about the market outlook because of falling ore prices and increased alloy spot supply, even though silico-manganese prices have stabilised on the back of increased consumption from the steel sector. Henan Xinya
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    • NEWS | 08 Jul 12:05
    • Vietnam ups titanium ore exports to China
    • Beijing, 8 July (Argus) — Vietnam has increased its exports of titanium ore and concentrate to China since the beginning of 2016 on the back of rising demand from Chinese consumers and underpinned by higher prices for titanium dioxide. China's imports of Vietnamese titanium ore and conc
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    • NEWS | 08 Jul 11:45
    • ERG buys Cu-Co exploration firm Africo
    • London, 8 July (Argus) — Luxembourg-based private mining company Eurasian Resources Group (ERG) has closed the acquisition of Toronto-listed Africo Resources, a Canadian company engaged in base metals exploration in Africa. Africo is developing the Kalukundi copper-cobalt project in the
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    • NEWS | 08 Jul 11:32
    • Sandfire achieves record annual copper output
    • Johannesburg, 8 July (Argus) — Perth-based mining company Sandfire Resources achieved record copper output of 68,202t from its DeGrussa copper-gold mine in Western Australia in the year to 30 June. This is at the top end of guidance of 65-68,000t for the year. The company also produced
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    • NEWS | 08 Jul 08:04
    • Australia lowers 2017 copper price forecasts
    • Sydney, 8 July (Argus) — Global copper prices are likely to average around $5,400/t in 2017, Australia's commodity forecaster the Office of the Chief Economist (OCE) said. It has cut its forecast from $5,800/t previously, as higher-than-expected stockpiles are expected to weigh on prices
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    • COMMENTARY | 07 Jul 21:02
    • US aluminum scrap: Smelter grades rise on tightness
    • Houston, 7 July (Argus) — Smelter-grade aluminum scrap prices increased this week as less scrap was on offer. Demand remains healthy as some smelters have no plans for summer shutdowns. Old sheet scrap prices increased to a year-high of 56-58¢/lb this week, from 55-57¢/lb a week earlie
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    • NEWS | 07 Jul 20:58
    • EIA expects integrated steelmaking to decline
    • Houston, 7 July (Argus) — Steel produced using the basic oxygen furnace (BOF) process in the US will account for only 30pc of the total steel output by 2040, down from 2015 levels of 38pc, according to the US Energy Information Administration. In its Annual Energy Outlook released today
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    • NEWS | 07 Jul 20:19
    • Canada reduces duties on Chinese stainless steel sinks
    • New York, 7 July (Argus) — The Canadian Border Services Agency (CBSA) today lowered duties on imports of Chinese stainless steel sinks from four exporters while holding duties on other companies unchanged following the conclusion of a reinvestigation. The Canadian International Trade Tr
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    • COMMENTARY | 07 Jul 19:30
    • Oil futures: WTI falls nearly 5pc on low stock draw
    • Houston, 7 July (Argus) — Crude futures fell by nearly 5pc, erasing yesterday's gains, as US crude inventory data showed a draw that was at the lower end of expectations. Nymex August light, sweet crude futures settled lower by $2.29/bl, or 4.8pc, at $45.14/bl, slumping by that extent
    • Read more
    • NEWS | 07 Jul 19:29
    • Stainless steel: LME volatility drives scrap pricing
    • Houston, 7 July (Argus) — Stainless steel scrap prices in Europe rallied this week and closely followed nickel price movements on the London Metal Exchange. LME nickel prices increased at the start of the week before receding, as did scrap prices in Europe. In European trading, 304 sta
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    • NEWS | 07 Jul 19:26
    • US minor metals: Scrap imports up in May
    • New York, 7 July (Argus) — Total US imports of scrap minor metals rose by 69pc in May from a year earlier, led by gains in titanium, magnesium and bismuth shipments. The US imported 10,093t of minor metal scrap in May, up from 5,971.1t a year earlier, according to data from the Commerce
    • Read more
    • COMMENTARY | 07 Jul 19:09
    • US metcoal: Prices up on slimmer supply
    • New York, 7 July (Argus) — Prices of US coking coal for export rose this week as demand from Europe and Brazil remained steady and supplies tightened. Prices for coking coal for delivery in the prompt quarter fob Hampton Roads increased across all Argus -assessed coals in the latest w
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    • NEWS | 07 Jul 19:02
    • US minor metals: Scrap exports rise in May
    • New York, 7 July (Argus) — Total US exports of minor metal scrap during May increased by 71.3pc, driven primarily by greater titanium volumes. The US exported 2,839.2t of minor metal scrap during May, up from 1,657.8t a year earlier, according to data from the Commerce Department. Year
    • Read more
    • COMMENTARY | 07 Jul 18:14
    • Turkish scrap: Exporters negotiate domestic deliveries
    • London, 7 July (Argus) — Deep-sea activity in the Turkish scrap import market was thin today as global exporters' suppliers concentrated on negotiations with domestic mills for July deliveries. The US market has only settled in Detroit so far, with prime grades trading at unchanged pric
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    • NEWS | 07 Jul 18:02
    • Cuba to cut power, fuel on Venezuela concerns
    • Kingston, 7 July (Argus) — Cuba has ordered state agencies to reduce power and fuel use by about 50pc, a move officials say stems in part from uncertainty about the continuation of oil supplies from Venezuela. The government is also concerned about the impact of increased power consumpt
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    • NEWS | 07 Jul 17:59
    • Boeing ahead of Airbus on 2Q deliveries, orders
    • London, 7 July (Argus) — Boeing delivered 199 commercial aircraft in the second quarter of 2016, outstripping Airbus with 173 deliveries in the same period. The figures were also ahead of 176 Boeing commercial aircraft deliveries in the first quarter and 197 aircraft delivered by the US
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    • COMMENTARY | 07 Jul 17:54
    • Pig iron: Trade stalls as scrap prices fluctuate
    • London, 7 July (Argus) — Trading activity in the Black Sea pig iron market has stalled as market participants wait for Turkish and US scrap prices to stabilise, with this week's Eid holiday further dampening buying interest. "No one knows where the price trend is going," a Russian trade
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    • NEWS | 07 Jul 17:31
    • Iron ore prices to rise despite supply increases: UBS
    • London, 7 July (Argus) — Swiss bank UBS has maintained its bullish stance on iron ore prices for the second half of 2016 through to 2018. The market has rebalanced enough to prevent extra supply from dragging the value of 62pc Fe fines cfr China below $45/t, UBS said in a note published
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    • NEWS | 07 Jul 17:31
    • Aluminum group joins push against China market economy
    • Houston, 7 July (Argus) — Illinois-based Aluminum Extruders Council has joined Manufacturers for Trade Enforcement amid concerns about the impact of Chinese exports on the US economy. MTE is a consortium of trade groups opposed to the World Trade Organization granting China market econo
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    • NEWS | 07 Jul 17:25
    • US scrap lead battery exports fall
    • Houston, 7 July (Argus) — US exports of lead recovered from batteries and whole spent lead batteries declined in May from a year earlier while exports of other lead scrap rose by more than half. Exports of lead recovered from used batteries decreased by 81.9pc to 1,330t in May from 7,35
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    • NEWS | 07 Jul 17:21
    • EAEU delays anti-dumping duty on Ukrainian SiMn
    • London, 7 July (Argus) — The Eurasian Economic Union (EAEU) has postponed the imposition of a 26.35pc anti-dumping duty against imports of Ukrainian silico-manganese that was due to take effect from the beginning of July. This followed an objection raised to the duty by Andrei Kobyakov,
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    • COMMENTARY | 07 Jul 17:16
    • Europe FeTi spot trade slows
    • London, 7 July (Argus) — Prices for ferro-titanium in Europe moved into a lower range this week, with increased availability of competitively priced Russian metal and pressure on UK producers from the falling pound. Prices for duty-unpaid Russian ferro-titanium 70pc Ti, 0.2pc C, are ass
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    • NEWS | 07 Jul 16:53
    • Las Bambas starts commercial copper production
    • London, 7 July (Argus) — Hong-Kong listed miner MMG, owned by Chinese state firm China Minmetals, said its Las Bambas copper mine in Peru started commercial production at the beginning of July. The ramp up of the plant has been achieved on schedule and commercial production started in
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    • COMMENTARY | 07 Jul 16:41
    • Philippines' nickel focus drives LME volatility
    • London, 7 July (Argus) — London Metal Exchange (LME) nickel prices had a volatile week, rising to $10,340/t on 4 July before falling back as market participants tried to assess how the Philippines' new approach to nickel mining will affect exports. Despite the price decline as the wee
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    • NEWS | 07 Jul 15:59
    • US finished steel applications rise in June
    • Houston, 7 July (Argus) — Applications for US finished steel imports rose by 9pc in June compared to preliminary imports in May. Import permit tonnage for finished steel rose to 2.25mn net tons (2.6.3mn metric tonnes) in June compared with May's preliminary import total of 2.07mn nt, a
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    • COMMENTARY | 07 Jul 15:42
    • US ferro-alloys: tight supply outweighs slow FeTi trade
    • New York, 7 July (Argus) — US ferro-titanium prices increased during the latest week as limited near-term stocks outweighed slowing spot market demand. US ferro-titanium (Ti 70pc) prices rose to $1.77-1.90/lb from $1.75-1.90/lb, up for a third consecutive week. US and Canadian producer
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    • NEWS | 07 Jul 15:03
    • Germain to head aluminum sheet producer Constellium
    • Houston, 7 July (Argus) — Amsterdam-based rolled aluminum producer Constellium's recently appointed executive director, Jean-Marc Germain, will also assume the role of chief executive effective 11 July. Prior to joining Constellium, German was chief executive at Baltimore-based modular
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    • COMMENTARY | 07 Jul 14:17
    • US ferro-alloys: FeCr, FeMo down, FeSi bumps
    • New York, 7 July (Argus) — US high carbon ferro-chrome, ferro-molybdenum, and ferro-vanadium prices edged down during the latest week amid competitive supplier offers. Meanwhile, consistent demand drove ferro-silicon and electrolytic manganese prices higher. FeCr US high carbon ferro-c
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    • NEWS | 07 Jul 13:33
    • China Minmetals cuts tungsten guide prices for July
    • Beijing, 7 July (Argus) — State-owned China Minmetals has lowered its tungsten guide prices for July delivery compared with last month. The company restarted issuing monthly guide prices in May, after a break of six months. Minmetals set its guide price for wolframite (iron-manganese tu
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    • NEWS | 07 Jul 12:45
    • China cracks down on FeSi smuggling
    • Beijing, 7 July (Argus) — China's customs agency has launched a crackdown on ferro-silicon smuggling via Vietnam, with 43 people from three groups arrested recently. Eleven regional customs agencies have been working together for several months to uncover the case. A total of 120,000t o
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    • NEWS | 07 Jul 12:36
    • RHA tungsten plant to run from mid-July
    • Johannesburg, 7 July (Argus) — Premier African Minerals expects to start running the plant at its RHA tungsten mine in Zimbabwe in the week beginning 11 July. The company said that all plant modifications and upgrades are on site and installation is progressing well. It reported that th
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    • NEWS | 07 Jul 12:25
    • China steel mills raise FeSi tender prices for July
    • Beijing, 7 July (Argus) — Chinese major steel mills have raised ferro-silicon tender prices for July delivery because of tightening supply as more ferro-silicon producers have started seasonal maintenance in view of thin profit margins. Hebei Iron Steel Group, the largest steel mill i
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    • NEWS | 07 Jul 12:01
    • Tough times for Brazil auto industry continue
    • Sao Paulo, 7 July (Argus) — Brazilian auto production fell 3pc in June rounding off a difficult first half of the year for manufacturers and the foundry producers, steel makers and ferro-alloys suppliers that rely heavily on the industry for business. Output of 182,626 vehicles was the
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    • NEWS | 07 Jul 11:58
    • Peru tin production falls in May
    • Sao Paulo, 7 July (Argus) — Peru's tin concentrate production totalled 1,578t in May, down 2.7pc on the same month a year earlier. Output rose 9.5pc against April. Lima-based Minsur is Peru's only producer of tin concentrate. The company deploys separate gravity separation and flotatio
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    • NEWS | 07 Jul 11:52
    • Peru copper output increases sharply in May
    • Sao Paulo, 7 July (Argus) — Copper concentrate production in Peru rose by 61pc in May from a year earlier helped by sharp increases in output at Antamina, Antapaccay Cerro Verde and Constancia. May output from more than 90 pits across Peru totalled 212,454t, 13pc more than in April, dat
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    • NEWS | 07 Jul 10:40
    • Tiger examines cobalt viability in DRC
    • Johannesburg, 7 July (Argus) — Perth-based mining company Tiger Resources has commissioned a study to examine the viability of producing cobalt at its Kipoi project in the Democratic Republic of Congo (DRC). The company has a measured and indicated cobalt resource of 40,400t and an infe
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    • NEWS | 07 Jul 10:39
    • Kidman acquires Mt Holland Au/Li project
    • Johannesburg, 7 July (Argus) — Melbourne-based mining company Kidman Resources has completed the acquisition of the Mt Holland gold-lithium project in Western Australia and plans to drill pegmatites to test for economic grades of lithium similar to those shown in historical assays at the
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    • NEWS | 06 Jul 22:51
    • US base metals scrap exports decline in May
    • Houston, 6 July (Argus) — US base metals scrap exports fell by 14.3pc in May from the same month a year earlier, led by decreases in copper and aluminum. Exports of base metals scrap fell to 215,525.7t in May from 251,457.2 a year earlier. Year to date shipments declined by 9.4pc to 96
    • Read more
    • COMMENTARY | 06 Jul 22:50
    • US copper scrap: Bare bright spreads hold
    • Houston, 6 July (Argus) — US bare bright copper scrap price spreads were unchanged in the latest week as recent two-month highs in Comex pricing attracted more material to the market. Consumer buying price spreads for No. 1 bare bright were unchanged at level September Comex to 2¢/lb ov
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    • COMMENTARY | 06 Jul 22:48
    • US copper: Cathode premiums flat in summer slowdown
    • Houston, 6 July (Argus) — US copper cathode grade A premiums were unchanged in the latest week amid slowing trade and fewer inquiries. Copper cathode premiums were at 6-7¢/lb delivered midwest consumer on Wednesday, unchanged from a week earlier. Outages at factories, together with an
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    • NEWS | 06 Jul 21:11
    • Bonnell Aluminum cast house remains down
    • Houston, 6 July (Argus) — Extrusion producer Bonnell Aluminum has confirmed that the casting house at its largest plant, in Newnan, Georgia, remains idle nearly a week after an explosion injured five workers. There are no imminent plans to resume operations. "We are currently assessing
    • Read more
    • COMMENTARY | 06 Jul 21:06
    • Aluminium: Summer slowdown takes hold
    • Houston, 6 July (Argus) — European primary aluminium premiums were unchanged in the latest week as the seasonal summer slowdown takes hold and exchange prices trade in a narrow range. In Rotterdam, in-warehouse premiums for duty unpaid material traded at $60-70/t while duty paid traded
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    • NEWS | 06 Jul 21:03
    • Centerra acquiring 92pc stake in Thompson Creek
    • New York, 6 July (Argus) — Canadian-based gold miner Centerra Gold entered into an agreement this week to purchase all issued and outstanding shares of Thompson Creek by the fall. Based on 4 July share prices, the transaction was valued at roughly $1.1bn, the company said. Centerra will
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    • NEWS | 06 Jul 20:30
    • US aluminum scrap: UBC spreads widen
    • Houston, 6 July (Argus) — Used aluminum beverage can (UBC) spreads widened this week as some consumers moved ahead of buying goals. There is also a seasonal uptick in collections which has made material abundant. Consumers purchased UBCs at approximately 77-79pc of the Argus midwest t
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    • NEWS | 06 Jul 19:58
    • Turkish intake boosts US ferrous scrap exports in May
    • Houston, 6 July (Argus) — Ferrous scrap exports rose by 1.1pc in May from a year earlier, as increased exports to Turkey and Mexico offset a decline in shipments to Taiwan and India. Commerce Department data today showed ferrous scrap exports increased to 1.18mn tonnes in May from 1.16
    • Read more
    • NEWS | 06 Jul 19:52
    • American Manganese testing Li-Co recycling concept
    • New York, 6 July (Argus) — British Columbia-based specialty metal recycling start-up American Manganese has begun proof of concept testing on a hydrometallurgical cathode recycling process of lithium-cobalt batteries. American Manganese, in combination with Kemetco Research, began testi
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    • COMMENTARY | 06 Jul 19:48
    • Oil futures: WTI rises above $47/bl
    • Houston, 6 July (Argus) — Crude prices moved higher today amid expectations of another drop in US inventories despite continued uncertainty of the demand growth outlook following the UK vote to leave the EU. Nymex August light, sweet crude futures settled higher by 83¢/bl, at $47.43/bl
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    • NEWS | 06 Jul 19:13
    • Kinder Morgan, Nucor sign 10-year service agreement
    • Houston, 6 July (Argus) — US midstream company Kinder Morgan (KMI) has signed a new, 10-year agreement with US steelmaker Nucor to provide "in-plant" services including processing and warehousing for five of Nucor's facilities. The five steelmaking facilities produce roughly 13.4mn net
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    • NEWS | 06 Jul 18:57
    • Asarco rejected in bid to reconsider arbitration award
    • Houston, 6 July (Argus) — A US district court has rejected Grupo Mexico subsidiary Asarco's request for reconsideration of a 3 March decision to enforce an arbitrator's award to pay an estimated $10mn in negotiated quarterly bonuses based on the price of copper to workers hired since Jul
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    • NEWS | 06 Jul 17:52
    • Peru May Molybdenum output higher
    • Sao Paulo, 6 July (Argus) — Molybdenum production in Peru increased 27.7pc in May compared with the same month a year earlier to 2,149t, data from the country's mining ministry showed. Output was up 8pc against April. The ministry publishes figures to the nearest tonne. Southern Coppe
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    • COMMENTARY | 06 Jul 17:49
    • US scrap: Turkey books US cargo, Detroit settles
    • London, 6 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up 60c to $215.60/t cfr Turkey on the back of the assessment of one US deal and two European deals concluded yesterday and today. Turkish mills continued to fill up their inventories of July
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    • NEWS | 06 Jul 16:40
    • Constellium selects Mexico for aluminum autoparts plant
    • Houston, 6 July (Argus) — Amsterdam-based aluminum sheet producer Constellium plans to invest $10mn to build a structural auto parts factory in San Luis Potosí, Mexico, which is expected to being production in 2018. The plant will produce light-weight, high-strength, aluminum crash mana
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    • NEWS | 06 Jul 16:01
    • Peru cadmium production up in May
    • Sao Paulo, 6 July (Argus) — Peru's cadmium production was 74t in May - 14t or 23.3pc higher than the 60t in the same month a year earlier, and 5.7pc up against April's output of 70t. In the first five months of 2016 output ran to 332t, 11.8pc more than the 297t a year earlier. For the
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    • NEWS | 06 Jul 15:50
    • Elkem to run at full FeSi output through 3Q
    • London, 6 July (Argus) — Norwegian ferro-silicon producer Elkem is operating at full production capacity through the third quarter against high demand and a full order book, a company official said. The company is looking for replacement ferro-silicon because of a shortage of alloy avai
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    • NEWS | 06 Jul 15:43
    • Maiden mineral resource at Cambodian Cu project
    • Johannesburg, 6 July (Argus) — Perth-based Geopacific Resources has announced a maiden mineral resource at its Kou SA copper project in Cambodia. The company said it has an initial mineral resource of 51,000t of copper equivalent from prospects 150 and 160. This comes from 29,000t of co
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    • NEWS | 06 Jul 15:33
    • Century Aluminum negotiates temporary power deal
    • Houston, 6 July (Argus) — US primary metal producer Century Aluminum has reached an electricity agreement with South Carolina's state power-provider Santee Cooper that will allow the company to continue operating its Mt. Holly smelter at half of its 231,000t/yr capacity. Century will co
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    • NEWS | 06 Jul 14:35
    • Tension mounts around Tata Steel UK sale
    • London, 6 July (Argus) — Tension around the sale of global firm Tata Steel's UK assets is mounting, ahead of a board meeting on 8 July, with market participants questioning whether plans will be revised in the wake of the UK's vote to leave the EU. Tata has remained tight-lipped so far,
    • Read more
    • COMMENTARY | 06 Jul 14:21
    • US minor metals: Selenium up, indium and tellurium flat
    • New York, 6 July (Argus) — US selenium prices rallied for a seventh week amid minimal Chinese origin imports. Selenium (Se 99.5pc) prices increased to $7.20-8.50/lb during the past week from $6.75-8.00/lb a week earlier. Cuts to Chinese shipments and strong Indian demand outpaced minima
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    • NEWS | 06 Jul 14:06
    • Noranda Aluminum debtors sour on downstream sale
    • Houston, 6 July (Argus) — Noranda Aluminum's unsecured debtors have begun to protest the company's restructuring and bankruptcy proceedings as an alleged "backwards reorganization and sale" which will only benefit secured debtors, according to court documents. The company's unsecured de
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    • NEWS | 06 Jul 13:35
    • Lithium Australia doubles Greenbushes footprint
    • Johannesburg, 6 July (Argus) — Mining company Lithium Australia has doubled its lithium footprint in the Greenbushes area of Western Australia through the acquisition of three more exploration licences. The Greenbushes area is located about 200km from Perth and is home to the world's la
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    • NEWS | 06 Jul 13:26
    • China completes formation of Guangdong Rare Earth Group
    • Beijing, 6 July (Argus) — The Chinese government has approved the formation of Guangdong Rare Earth Group, which is part of the country's plan to consolidate its rare earths industry. The new company will be responsible for consolidating the industry in Guangdong province - one of Chin
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    • NEWS | 06 Jul 12:47
    • Yunnan Germanium receives military certificate
    • Beijing, 6 July (Argus) — China's Yunzhe High Tech, a subsidiary of the country's largest germanium producer Yunnan Germanium, has received official permission to make military materials. A Second Level Secrecy Qualification Certificate has been issued by the Chinese national defence au
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    • NEWS | 06 Jul 10:17
    • Lynas exceeds NdPr output target to end June
    • Johannesburg, 6 July (Argus) — Australia-listed rare earths producer Lynas exceeded its targeted neodymium-praseodymium (NdPr) production in the 12 months to 30 June, enabling it to reduce the interest rate under its JARE loan facility to 5.7pc from 6.5pc. The company said its NdPr outp
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    • NEWS | 06 Jul 10:11
    • Mt Marion lithium project ups resource by 160pc
    • Johannesburg, 6 July (Argus) — Joint venture partners Mineral Resources, Neometals and Ganfeng Lithium have announced a 160pc increase in the mineral resource at the Mt Marion lithium project in Western Australia. The project's inferred and indicated mineral resource has been increased
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    • NEWS | 05 Jul 22:50
    • AMG Resources acquires interest in Pittsburgh processor
    • Houston, 5 July (Argus) — Pittsburgh-based AMG Resources Corporation has acquired a 50pc stake in Allegheny Raw Materials, a scrap processing and ferrous and non-ferrous brokerage business also based out of Pittsburgh. The transaction, which was completed 30 June, now provides AMG and
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    • NEWS | 05 Jul 22:15
    • US opts for full review of Chinese aluminum duties
    • Houston, 5 July (Argus) — The US International Trade Commission has voted to conduct a full five-year review of antidumping and countervailing duties placed on aluminum extrusions from China in 2011, which sets the stage for closer scrutiny of the duties than the alternative, expedited r
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    • NEWS | 05 Jul 21:58
    • US aluminum scrap: Spreads tighten on supply
    • Houston, 5 July (Argus) — Price spreads tightened for most mill-grade aluminum scrap as suppliers struggling to fulfill contract orders made less material available for spot purchasing. Summer months are typically a time of reduced scrap consumption as mills undertake planned maintenanc
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    • NEWS | 05 Jul 20:36
    • BofA forecasts weaker copper prices on UK vote
    • Houston, 5 July (Argus) — Bank of America-Merrill Lynch (BofA) expects copper prices to weaken on softer demand as the UK's recent vote to leave the EU heightens uncertainty and weighs on global growth. The US bank projects copper prices in 2017 to average $4,747/t ($2.15/lb), compared
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    • COMMENTARY | 05 Jul 19:49
    • Oil futures: WTI down 5pc on supply, econ outlook
    • Houston, 5 July (Argus) — Crude futures fell on the prospect of rising supplies and continued economic uncertainty following the UK vote to leave the EU. Nymex August light, sweet crude futures settled lower since their 1 July settlement, by $2.39/bl, or 4.9pc, at $46.60/bl, to their w
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    • NEWS | 05 Jul 19:39
    • US raw steel output down in latest week
    • Houston, 5 July (Argus) — US raw steel production fell by 1.1pc in the week ended 2 July compared to a week earlier, driven by declining production in the south and midwest. Output in the latest week decreased to 1.74mn net tons (1.58mn metric tonnes) from 1.76mn nt a week earlier, whi
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    • NEWS | 05 Jul 17:55
    • Chinese steel exports to Latin America drop sharply
    • Sao Paulo, 5 July (Argus) — Exports of Chinese steel products to Latin America fell by 35.7pc on the year to 2.7mn t in January-May, Latin American steel association Alacero said. The total comprised 2.4mn t of rolled steel products and 316,000t of seamless tubes and wire. Latin Ameri
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    • COMMENTARY | 05 Jul 17:53
    • Turkish scrap: US cargo booked over holiday weekend
    • London, 5 July (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has gained $1.90/t to $214.50/t cfr Turkey on the back of the assessment of a US sale that was concluded over the weekend. A further sale, by a continental European supplier, was not assessed by A
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    • NEWS | 05 Jul 16:51
    • Largo sets new Brazil vanadium output record
    • Sao Paulo, 5 July (Argus) — Canada's Largo Resources posted a monthly vanadium production record in June of 801t at its Maracás Menchen mine in Brazil's northeast Bahia state. Output beat the previous best of 780t set in May. Last month Largo said it had effectively reached its 9,600
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    • NEWS | 05 Jul 16:16
    • Canada revises duties on rebar imports
    • Houston, 5 July (Argus) — The Canada Border Service Agency (CBSA) raised previously established duties on certain concrete reinforcing bar for some Turkish, Chinese and South Korean producers while it eased duties on one Turkish producer. CBSA, as part of a reinvestigation into the impo
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    • ANALYSIS | 05 Jul 15:59
    • Nickel prices may rise on Philippines' tough approach
    • London, 5 July (Argus) — The Philippines, the biggest exporter of nickel ore to China, is moving ahead with its tougher approach to mining, which may push nickel prices higher, at least temporarily. The country has appointed Gina Lopez, an environmentalist, as the head of the Departmen
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    • NEWS | 05 Jul 15:45
    • Sheffield doubles Thunderbird heavy minerals resource
    • Johannesburg, 5 July (Argus) — Heavy mineral sands developer Sheffield Resources has doubled the mineral resource at its Thunderbird project near Derby in Western Australia. It said it on track to complete a bankable feasibility study by the end of this year. The mineral resource at the
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    • NEWS | 05 Jul 15:41
    • DLA increases ferro-chrome sales in June
    • New York, 5 July (Argus) — The Defense Logistics Agency (DLA), the procurement arm of the US Defense Department, increased ferro-chrome sales by 95pc in June from a month earlier. DLA ferro-chrome sales totaled 3,309 short tons (st) in June, up from 1,700st in May. The DLA sold 733st
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    • NEWS | 05 Jul 15:28
    • Gulf Manganese expects smelting approvals by end July
    • Johannesburg, 5 July (Argus) — Perth-based Gulf Manganese has received strong support from regulatory authorities towards the development of its proposed Kupang Smelting Hub project in Indonesia and expects to receive permitting approvals on around 26 July. It said this followed meeting
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    • NEWS | 05 Jul 15:22
    • India launches AD probe into Chinese, EU flats
    • London, 5 July (Argus) — The Indian government has launched an anti-dumping (AD) investigation into imports of colour-coated and pre-painted flat steel products made from alloyed or non-alloyed steel and originating in or exported from China and the EU. The investigation follows a petit
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    • COMMENTARY | 05 Jul 15:12
    • US minor metals: Silicon flat amid steady trading
    • New York, 5 July (Argus) — US silicon metal prices were unchanged for a fourth week amid consistent inquiries for small-tonnage volumes. Silicon metal (Si 98.5pc) prices traded flat at 91-93¢/lb during the latest week. Aluminum smelters and silicon alloy producers maintained steady 5-10
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    • NEWS | 05 Jul 15:03
    • Egyptian Steel to launch Beni Suef plant in 3Q16
    • London, 5 July (Argus) — Egypt's IIC for Steel Plants Management, which is a subsidiary of Egyptian Steel, plans to launch its new plant in Beni Suef, south of Cairo, in August-September, with hot commissioning scheduled for mid-July, a source at Egyptian Steel said. The Beni Suef plant
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    • COMMENTARY | 05 Jul 14:38
    • US minor metals: Cobalt up on small-volume orders
    • New York, 5 July (Argus) — US high-grade cobalt prices edged up during the past week amid firm small-tonnage demand. High-grade cobalt (Co 99.8pc) prices increased to $11.00-11.55/lb from $10.90-11.40/lb a week earlier. Offers were up for a second straight week as small-tonnage orders o
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    • NEWS | 05 Jul 12:25
    • AusTin identifies cobalt target in Queensland
    • Johannesburg, 5 July (Argus) — Brisbane-based AusTin Mining has identified a new cobalt target south of Mt Cobalt near Gympie in Queensland. The company said rock chip samples have shown grades up of to 1.66pc cobalt in a strike length of 800m. An exploration programme is underway to a
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    • NEWS | 05 Jul 11:28
    • MOIL cuts quarterly Mn ore prices
    • Mumbai, 5 July (Argus) — Indian state-owned manganese ore producer MOIL has cut prices for the July-September quarter by up to 15pc due to weak demand amid sliding prices for ore globally. The company reduced prices of ferro grade ores with Mn content 45pc and above by 10pc from the pre
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    • NEWS | 05 Jul 11:04
    • Baotou Sanwei FeSi stocks fall
    • Beijing, 5 July (Argus) — China's Inner Mongolia Baotou Sanwei Resources has seen its ferro-silicon stocks fall amid tight spot supply. The company is running at full capacity of 25,000 t/yr and only holds 70-80t of stocks, as regular customers re-entered the market for their monthly r
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    • NEWS | 05 Jul 10:49
    • China’s GTA cuts tungsten guide prices for July
    • China's GTA cuts tungsten guide prices for July Beijing, 5 July (Argus) — China's Ganzhou Tungsten Association (GTA) has lowered its guide prices for tungsten concentrate markedly by Yn11,000/t to Yn64,000/t for July delivery. The association has also cut its guide prices for ammonium pa
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    • COMMENTARY | 05 Jul 10:44
    • LME minors: Cobalt moves up on funds demand
    • London, 5 July (Argus) — London Metal Exchange (LME) cobalt is higher in the past week amid signs of potentially longer term demand in the automotive sector. LME cash cobalt settled higher at $24,000/24,500/t on 4 July, from $23,650/23,750/t, while stock levels were steady at 645t. Wes
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    • NEWS | 04 Jul 18:27
    • China’s producers raise SiMn prices on reduced supply
    • China's producers raise SiMn prices on reduced supply Beijing, 4 July (Argus) — A number of large private-sector producers in China have raised offer prices for silico-manganese alloy due to lower stocks and production cutbacks. Ningxia Shengyan Group is offering Yn5,000-5,050/t ($751-75
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    • NEWS | 04 Jul 17:57
    • Vital sees $250/mtu as tungsten production springboard
    • Sao Paulo, 4 July (Argus) — Executives at Australia's Vital Metals see a sustained move above $250/mtu for tungsten APT prices as key to attracting funding to start construction at the Watershed project in Queensland. European tungsten APT prices have fluctuated in recent months but som
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    • NEWS | 04 Jul 15:49
    • REC 3Q polysilicon output cut due to fire
    • London, 4 July (Argus) — Norwegian solar product manufacturer REC Silicon said that polysilicon production, produced by its FBR (Fluidised Bed Reactor) technology, will be affected because of a fire at the restart-up phase of its Silane IV gas production facility in Washington state on 1
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    • NEWS | 04 Jul 15:42
    • Brazil foundry production continues to fall
    • Sao Paulo, 4 July (Argus) — Brazilian foundry producers continued to struggle in May with the country in deep recession as it tries to shake off the effects of a political crisis. Production fell 17.9pc to 178,323t in May from 217,205t in the same month of 2015, trade association Abifa
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    • NEWS | 04 Jul 13:56
    • Uragold advances quartz-solar silicon project
    • London, 4 July (Argus) — Canadian junior explorer Uragold Bay Resources Uragold has said that tests have confirmed production of high purity silicon metal from quartz, after the restart of its new reactor process in May this year. The final purity level in parts per billion has yet to
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    • NEWS | 04 Jul 13:53
    • Global Geoscience to acquire Nevada Li/B project
    • Johannesburg, 4 July (Argus) — Sydney-based Global Geoscience has completed due diligence and has said it will proceed to acquire the Rhyolite lithium-boron project in the US state of Nevada, subject to certain conditions. The project is currently owned by Boundary Peak Minerals. The c
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    • COMMENTARY | 04 Jul 13:50
    • Global Mn ore output mixed in May
    • London, 4 July (Argus) — Global production of manganese alloys was mixed in May on a month-on-month and year-on-year basis, according to data from the International Manganese Institute (IMnI). Global silico-manganese production in May 2016 was 1.21mn t, off 7.5pc month-on-month but up 3
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    • NEWS | 04 Jul 10:06
    • Sandur Manganese gets nod to increase Mn ore production
    • Mumbai, 4 July (Argus) — BSE-listed Sandur Manganese and Iron Ores (SMIORE) has received approval to increase manganese production capacity to 254,000t/yr from a current 187,400t/yr. The Central Empowered Committee (CEC), constituted by the Supreme Court of India approved the increase i
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    • NEWS | 04 Jul 09:56
    • Tronox raises zircon sand price for 3Q
    • Beijing, 4 July (Argus) — Major US titanium dioxide and zircon sand producer Tronox has raised its quarterly price for 66pc grade Australian-produced zircon sand by $60/t to $1,000-1,010/t in the third quarter of 2016 from $940-950/t in the last quarter. This is in response to Australi
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    • NEWS | 04 Jul 09:47
    • Corazon completes Mt Gilmore Co/Cu/Au due diligence
    • Johannesburg, 4 July (Argus) — Australia's Corazon Mining has completed due diligence and will now move to acquire up to 80pc of the Mt Gilmore cobalt-copper-gold project in north east New South Wales. The company said it believes there is potential to define a JORC-compliant mineral re
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    • NEWS | 04 Jul 09:45
    • Major resource upgrade at Admiral Bay zinc project
    • Johannesburg, 4 July (Argus) — Perth-based Metalicity has significantly upgraded the estimated mineral resource and exploration target range at its Admiral Bay zinc-lead-silver project in the north of Western Australia. The resource estimate had been upgraded to 170mn t grading 7.5pc zi
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    • ANALYSIS | 01 Jul 23:38
    • US ferrous scrap pricing to deviate in July trade
    • Houston, 1 July (Argus) — Shredded scrap is expected to be the weakest grade in US domestic trading for July amid expectations of a $10-20/gross ton drop in most regions. Prime scrap grades are expected to trade at levels unchanged from June with some softness anticipated in Chicago, th
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    • NEWS | 01 Jul 22:36
    • This Week in Metals: 27 June-1 July
    • Houston, 1 July (Argus) — The dust is yet to settle in Europe after the UK's referendum last week delivered a vote for the country to leave the EU. And there looks to be a delayed reaction as the markets enter the traditionally slower third quarter. But the immediate impact so far has b
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    • NEWS | 01 Jul 21:22
    • US car sale rate down 4.5pc in June
    • Houston, 1 July (Argus) — The pace of US retail auto sales decreased by 4.5pc to an annual rate of 16.7mn units, marking the second-lowest month on record this year. The 2016 low so far was in March when 16.6mn units were sold. The pace of sales peaked at a 18.2mn rate in October last
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    • NEWS | 01 Jul 20:30
    • US postpones Chinese stainless trade case
    • New York, 1 July (Argus) — The US Commerce Department delayed its preliminary determination date on imports of stainless steel sheets and strip from China this week. Commerce postponed the date for determination by 50 days to 9 September from an original date of 21 July. The investigati
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    • COMMENTARY | 01 Jul 20:01
    • Stainless steel: US scrap prices rise with LME
    • Houston, 1 July (Argus) — US stainless steel scrap prices increased this week as strong fundamentals caused prices to follow a week-long rally on exchange traded nickel. Scrap supply remains tight amid healthy demand from mills which means any significant increase in nickel prices will
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    • NEWS | 01 Jul 19:18
    • US secondary aluminum: Alloys flat in quiet market
    • Houston, 1 July (Argus) — Most secondary aluminum alloy prices were flat this week amid thin trade and the approaching holiday weekend. A380.1 prices remained at 83-85¢/lb for the fourth week as mid-sized producers attempted to raise spot prices by remaining firm on offers. Low copper
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    • NEWS | 01 Jul 19:08
    • US factory activity grows for fourth month
    • Houston, 1 July (Argus) — Manufacturing activity in the US continued to rise in June, marking a fourth month of expansion, according to a survey conducted by the Institute for Supply Management (ISM). ISM's manufacturing purchasing managers' index (PMI) came in at 53.2 in June, compared
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    • NEWS | 01 Jul 17:41
    • Chile copper production falls in May
    • Sao Paulo, 1 July (Argus) — Chile's copper concentrate production in May was down by 6.8pc against the same month a year earlier, data from the national statistics institute showed. Output was impacted by lower grades at larger producing mines. Production came in at 473,825t in May, com
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    • NEWS | 01 Jul 17:36
    • WEEK IN REVIEW: Fog over the Channel
    • London, 1 July (Argus) — The dust is yet to settle in Europe after the UK's referendum last week delivered a vote for the country to leave the EU. And there looks to be a delayed reaction as the markets enter the traditionally slower third quarter. But the immediate impact so far has be
    • Read more
    • NEWS | 01 Jul 17:31
    • Encouraging demand signals for steel sector
    • Barcelona, 1 July (Argus) — The global steel demand outlook shows signs of steady growth in the medium term, tracking encouraging signals in the energy and automotive sectors, delegates at an industry conference in Barcelona heard today. The oil and gas sector is unlikely to display a s
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    • NEWS | 01 Jul 17:29
    • Anheuser-Busch to transfer recycling arm
    • Houston, 1 July (Argus) — International brewer Anheuser-Busch is in talks to transfer its used beverage can procurement and recycling business, Anheuser-Busch Recycling Corporation, to Amsterdam-based rolled aluminum producer Constellium. Anheuser expects the transition to be completed
    • Read more
    • NEWS | 01 Jul 17:14
    • Chinese steel demand to fall in 2017: Goldman Sachs
    • Chinese steel demand to fall in 2017: Goldman Sachs London, 1 July (Argus) — US bank Goldman Sachs expects Chinese steel demand to fall by 2pc in 2017 and by a further 2pc in 2018. The firm anticipates Chinese steel demand rising by 1pc this year after falling by 6pc in 2015, but forecas
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    • COMMENTARY | 01 Jul 17:04
    • LME copper, aluminium trade higher
    • London, 1 July (Argus) — Following the post-Brexit selloff last Friday three-month copper futures started rising and ended this week at $4,813/t up from $4,670/t. Speculative investors sharply increased their long positions in copper, contributing to the price increase. End-of-month tra
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    • NEWS | 01 Jul 17:02
    • Metraco closes Sims FE Mottram purchase
    • London, 1 July (Argus) — Belgian ferro-alloys and metals trader Metraco has completed the acquisition of the UK's leading ferro-titanium producer Sims F.E. Mottram in Sheffield. After several months of talks with the plant's previous owner Sims Metal Management. the transaction was comp
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    • NEWS | 01 Jul 16:24
    • Banks cut back lending to Chinese steel mills
    • Singapore, 1 July (Argus) — Bank lending to Chinese steel companies has fallen by 10-20pc so far this year, squeezing availability of high-quality credit to the sector, the China iron and steel association (Cisa) said. Banks are not distinguishing between large and small steel mills, in
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    • NEWS | 01 Jul 16:23
    • India starts anti-dumping probe on China wire rods
    • Singapore, 1 July (Argus) — India has started an anti-dumping investigation into imports of wire rod from China. The country's directorate general of anti-dumping and allied duties (DGAD) has started the investigation after receiving complaints from Indian steel producers Vizag Steel, U
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    • NEWS | 01 Jul 16:20
    • China's June steel PMI falls to 2016 low
    • Singapore, 1 July (Argus) — China's steel purchasing managers' index (PMI) fell in June to its lowest level this year. The PMI fell by 5.8 points from a month earlier to 45.1, putting it below the level of 50 that indicates a contraction, the China steel logistics professionals committe
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    • NEWS | 01 Jul 16:19
    • Steel sector seeks solutions to structural challenges
    • Barcelona, 1 July (Argus) — Structural problems in the steel market, underpinned by China's production overcapacity, dominated the morning's discussion at an industry event in Barcelona yesterday, with delegates expressing concern over the limitations of trade defence measures while ques
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    • COMMENTARY | 01 Jul 16:19
    • LME zinc rises to 12-month high
    • London, 1 July (Argus) — After the tumultuous post-Brexit trade last Friday trading on the London Metal Exchange (LME) returned to normal this week with zinc prices rising to a twelve-month high on speculative trading and nickel increasing on a plant shutdown. Tin and lead also traded hi
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    • NEWS | 01 Jul 16:18
    • Steel feedstock traders urged to embrace flexibility
    • Barcelona, 1 July (Argus) — US and European trading companies dealing in steel products and feedstocks are being forced to adapt their business approach because of China's evolving needs. A shift towards short termism is evident, according to a panel of supply chain experts. Trading gro
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    • COMMENTARY | 01 Jul 16:16
    • US ferro-alloys: FeMn dips amid tight competition
    • New York, 1 July (Argus) — US high carbon ferro-manganese prices declined this week amid competitive supplier offers. High carbon ferro-manganese (Mn 80pc, C 6-8pc) prices dropped to $810-840/gt from $810-860/gt during the past week. Steel mills finalized several restocking purchases at
    • Read more
    • NEWS | 01 Jul 16:06
    • Houston steel imports down in May
    • Houston, 1 July (Argus) — Steel imports into the port of Houston fell by 68pc in May from the same month a year earlier, and were down by 67pc for the first five months of the year. Imports fell to 155,661net tons (141,213t) in May from 490,280nt a year earlier, according to data releas
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    • NEWS | 01 Jul 15:16
    • Chile molybdenum output down in May
    • Sao Paulo, 1 July (Argus) — Chile's molybdenum concentrate production was 4,597t in May, down 5.6pc on the 4,872t produced in the same month a year earlier, data from the national statistics institute (INE) showed. But output was up 12pc against April's 4,1031t. In the first five month
    • Read more
    • NEWS | 01 Jul 15:08
    • Global Mn ore output up in May
    • London, 1 July (Argus) — Global manganese ore production increased in May on a month on month basis, extending gains from the previous month because of rising production in Africa and the Americas. But world production was lower in May year on year, another drop from April year on year
    • Read more
    • NEWS | 01 Jul 12:27
    • Jiangxi Tungsten, Baosteel sign FeW supply contract
    • Beijing, 1 July (Argus) — China's state-controlled Jiangxi Tungsten Group (JTG) and Baosteel Group (Baosteel) have signed a long-term supply agreement for ferro-tungsten alloy. Under the contract, JTG's subsidiary Ganzhou JTG Tungsten Alloys will supply ferro-tungsten to Baosteel each
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    • NEWS | 01 Jul 12:12
    • China rolls over 2016 rare earths mining quota
    • Beijing, 1 July (Argus) — China's rare earth mining quota for 2016 has been set at 105,000t rare earth oxide (REO), unchanged on last year. The quota remains at 87,100t for light rare earths and 17,900t for ion-absorption rare earths, the same as in 2015. The ministry of land and res
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    • NEWS | 01 Jul 12:04
    • China chrome ore port stocks increase
    • Beijing, 1 July (Argus) — Chrome ore stocks at China's main ports reached 1,456,000t today, up by 65,000t from 1,391,000t on 17 June. The increase is partly a result of increasing shipments of South African and Indian chrome concentrate to Taicang port in Jiangsu province where stocks h
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    • NEWS | 01 Jul 11:01
    • First Cu cathode produced at Wetar expansion project
    • Johannesburg, 1 July (Argus) — Australian copper producer Finders Resources has produced the first 300t of LME Grade A copper cathode from its Wetar expansion project in Indonesia. The company said it will continue to ramp up production in July at the new copper cathode solvent extracti
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    • NEWS | 01 Jul 10:38
    • China's Erdos raises FeSi prices on tight supply
    • Beijing, 1 July (Argus) — Chinese private-sector Erdos Metallurgy, the largest ferro-silicon alloy producer in China, has raised its prices because of tight spot supply. The company has a ferro-silicon production capacity of 1.2mn t/yr and is running at 95pc of designed capacity. But m
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    • NEWS | 01 Jul 09:46
    • Shenghe Resources to acquire Vietnamese RE processor
    • Beijing, 1 July (Argus) — Chinese private-sector rare earths and new materials producer Shenghe Resources will purchase a 90pc stake in Vietnam Rare Earths (Verx) from its Japanese stakeholder. The board of Shanghai-listed Shenghe Resources has approved the acquisition, which will be i
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    • COMMENTARY | 30 Jun 22:53
    • Stainless steel: Weak demand keeps scrap from LME gains
    • Houston, 30 June (Argus) — Global stainless steel scrap prices are under downward pressure despite a big increase in nickel prices as weak demand has prevented suppliers from raising prices. The three-month official London Metal Exchange price for nickel settled today at $9,470/t ($4.29
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    • NEWS | 30 Jun 22:41
    • US launches probe on imports of steel flanges
    • Houston, 30 June (Argus) — The US launched an investigation today to determine whether imports of finished carbon steel flanges from India, Italy and Spain have been sold in the US at less than fair market value. The US International Trade Commission (ITC) will begin the investigation
    • Read more
    • NEWS | 30 Jun 22:38
    • US tin consumption flat, imports rise in first quarter
    • Houston, 30 June (Argus) — US tin consumption figures were relatively stable in the first quarter of the year while imports rose, according to the United States Geological Survey (USGS). Consumption of primary tin rose slightly to 5,870t in the first three months of 2016, an 0.5pc incr
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    • NEWS | 30 Jun 22:08
    • Schnitzer expects summer ferrous volumes to hold
    • Houston, 30 June (Argus) — Portland-based steel manufacturer and recycler Schnitzer Steel Industries expects ferrous scrap shipments in the quarter started June to finish at around 832,000long tons. The company anticipates ferrous sales for the June-August period will finish at levels s
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    • COMMENTARY | 30 Jun 21:53
    • US secondary aluminum: Scrap flat in quiet market
    • Houston, 30 June (Argus) — Most smelter-grade aluminum scrap prices were unchanged this week amid slow trading. As US consumers prepared for the long, holiday weekend, trading activity ground to a halt which left most scrap prices flat for the week. Obsolete grades that trend with the L
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    • NEWS | 30 Jun 21:06
    • Steel Dynamics agrees to buy threaded rod manufacturer
    • Houston, 30 June (Argus) — US steel producer Steel Dynamics (SDI) has entered into an agreement to purchase 100pc of Alabama-based Vulcan Threaded Product for $126mn. Vulcan specializes in threaded rod steel and its operations include production of cold drawn and heat treated bar. Vu
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    • NEWS | 30 Jun 20:33
    • Zinc production flat, consumption decreases in April
    • Houston, 30 June (Argus) — Mine production for recoverable zinc remained flat in April of this year, while consumption declined in the same period, according to the United States Geological Survey (USGS). Total recoverable zinc production totaled 67,000t, the same figure as March and a
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    • NEWS | 30 Jun 19:51
    • US bismuth imports slide in first quarter
    • New York, 30 June (Argus) — US imports of bismuth for consumption declined by 37.8pc during the first quarter amid a sharp decline in Chinese imports. The US consumed 406t of bismuth imports in the first quarter, down from 653t in 2015, according to data from the US Geological Survey (U
    • Read more
    • NEWS | 30 Jun 19:36
    • Alcoa inks flat-rolled contract with Embraer
    • Houston, 30 June (Argus) — US aluminum producer Alcoa has signed a $470mn contract to supply aluminum sheet and plate to Brazilian aircraft manufacturer Embraer. The aluminum will be used in the company's narrow-body E2 jet airplanes, which were launched at the Paris Airshow in 2013 an
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    • COMMENTARY | 30 Jun 19:29
    • US metcoal: Prices rise on supply concern
    • New York, 30 June (Argus) — Spot prices of US coking coal for export were mostly up this week on concerns supplies could grow scarcer as higher benchmark prices signal stronger demand. Prices for low-volatile coking coal for delivery in the prompt quarter fob Hampton Roads rose by 30¢
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    • COMMENTARY | 30 Jun 19:12
    • Turkish scrap: Market activity halts pre-Eid
    • London, 30 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment remained unchanged at $219.0/t cfr Turkey on the back of no bids or offers in the market today. Two sets of negotiations between two deep-sea scrap suppliers and two Turkish mills dissolved yeste
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    • COMMENTARY | 30 Jun 18:19
    • Europe FeTi: Volatile currencies cause uncertainty
    • London, 30 June (Argus) — Prices for ferro-titanium in Europe have stabilised in a lower range over the past two weeks, with slower trade in response to volatile currencies and ahead of summer shutdowns at steel mills. The spot market is assessed unchanged at $3.25-3.50/kg for western g
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    • COMMENTARY | 30 Jun 18:18
    • Aluminium: Oversupply pressures P1020 premiums
    • Houston, 30 June (Argus) — European primary aluminium premiums are under downward pressure and expected to lose some ground over the next week due to oversupply. But premiums for extrusion billet are expected to hold as the market appears to have found a balance between current supply a
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    • COMMENTARY | 30 Jun 18:10
    • Cobalt prices edge up on tighter supply
    • London, 30 June (Argus) — Cobalt prices in the Western markets rose in the past week on tighter supply but trading volumes were reduced by the lower demand for material over the summer. Prices for chemical and alloy grade metal were assessed in a higher and narrower range as supply of b
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    • COMMENTARY | 30 Jun 17:56
    • Europe antimony: Prices rise in thin trade
    • London, 30 June (Argus) — European antimony moved higher this week, on increased cost of replacement material from China. But volatile currencies and a slowdown in customer demand, as July shutdowns approach, have weighed on traded volumes. Smaller quantities of material are changing ha
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    • NEWS | 30 Jun 17:55
    • European EAF steel shift to cut BF raw material imports
    • London, 30 June (Argus) — A push for more recycling and greater resource efficiency that is accentuating a shift towards electric arc furnace (EAF) steel production in Europe will cement a decline in imports of iron ore, coking coal and metallurgical coke into the region, a European poli
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    • COMMENTARY | 30 Jun 17:54
    • Nickel: LME higher on week post UK vote
    • London, 30 June (Argus) — London Metal Exchange (LME) prices stabilised and closed higher on the week as volatility in the wake of the UK's 23 June vote to leave the EU calmed. Funds were the primary buyers of the metal pushing three-month nickel prices to $9,410/t, up from $9,205/t a
    • Read more
    • COMMENTARY | 30 Jun 17:18
    • US ferro-alloys: FeTi rises on stronger steel demand
    • New York, 30 June (Argus) — US ferro-titanium prices edged up in the latest week amid minimal near-term stocks and firm low-volume demand. US ferro-titanium (Ti 70pc) prices edged up to $1.75-1.90/lb from $1.70-1.85/lb a week earlier. US and Canadian suppliers raised offers for a seco
    • Read more
    • COMMENTARY | 30 Jun 17:15
    • US ferro-alloys: FeTi edges up, FeMn falls
    • New York, 30 June (Argus) — High carbon ferro-manganese traded down during the latest week amid competitive offers. Meanwhile, steady low-volume demand supported ferro-chrome and ferro-silicon prices. Ferro-titanium rallied for a second week as limited supplies combined with firm steel m
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    • NEWS | 30 Jun 17:06
    • UK tungsten site output hit by technical issues
    • Sao Paulo, 30 June (Argus) — Australia's Wolf Minerals has said production of tungsten concentrate at its Drakelands site in Devon, southwest England has been affected by technical issues at the processing plant. Wolf has been unable meet supply commitments to major customers meaning th
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    • NEWS | 30 Jun 17:03
    • Bindura Nickel reports lower income, output
    • London, 30 June (Argus) — Zimbabwean nickel miner Bindura Nickel said the amount of nickel it sold in the financial year 2016 has declined to 6,613t from 7,352t in 2015. The average nickel prices it achieved in sales was 38pc lower this year at $6,737/t, down from $10,855/t in 2015. An
    • Read more
    • NEWS | 30 Jun 15:00
    • Buyers submit bids for Italian steelmaker Ilva
    • London, 30 June (Argus) — Two consortiums, one headed by global steelmaker ArcelorMittal and the other by Italian steelmaker Arvedi, today formally submitted bids to acquire Italian steel producer Ilva. ArcelorMittal made a joint bid with Italian steelmaker Marcegaglia, while the Arvedi
    • Read more
    • NEWS | 30 Jun 14:51
    • China's steel sector extends profits in May
    • Singapore, 30 June (Argus) — China's steel sector remained profitable in May, as lower costs outweighed the impact of a fall in steel prices from April levels. Total steel company profits rose by 74.8pc in January-May from a year earlier to 55.86bn yuan ($8.4bn), the national statistic
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    • NEWS | 30 Jun 14:16
    • India's Moil plans to raise manganese ore output
    • Mumbai, 30 June (Argus) — Indian state-owned manganese ore producer Moil plans to double manganese ore production at its Balaghat mine in Madhya Pradesh state to 600,000 t/yr by the 2025 financial year from 300,000 t/yr now. Moil intends to increase production at the mine by commissioni
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    • NEWS | 30 Jun 13:36
    • Chinese nickel metal, alloy imports rise in May
    • Beijing, 30 June (Argus) — Chinese imports of nickel metal, ferro-nickel alloy and manganese ore increased sharply in May, Chinese customs data show. China imported 36,815t of nickel metal in May, up by 66pc from 22,186t a year earlier. Nickel imports in January-May more than doubled to
    • Read more
    • COMMENTARY | 30 Jun 13:36
    • Europe stainless steel outlook buoyed in July
    • London, 30 June (Argus) — European stainless steel sector, a key consumer of ferro-chrome, ferro-silicon, ferro-molybdenum and ferro-nickel, is looking strong through July because of a high level of orders for finished products from domestic steelmakers, according to market participants.
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    • NEWS | 30 Jun 11:47
    • Study positive for Woodlawn base metals project
    • Johannesburg, 30 June (Argus) — Australian base metals explorer Heron Resources has released the results of a feasibility study confirming the viability of the Woodlawn zinc-copper-lead project in New South Wales. The study indicates an initial mine life of 9.3 years utilising the under
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    • NEWS | 30 Jun 11:41
    • Plymouth enters lithium joint venture in Spain
    • Johannesburg, 30 June (Argus) — Australia's Plymouth Resources has completed a due diligence study and will proceed to enter a joint venture to develop the San Jose lithium project in Spain. The company said it will take up to 75pc of a joint venture with Valoriza Mineria by completing
    • Read more
    • NEWS | 30 Jun 10:30
    • Brazil machinery orders continue to fall
    • Sao Paulo, 30 June (Argus) — Brazilian capital machinery and equipment makers, a vital source of business for steel makers and ferro-alloys producers continued to see falling revenues in May. Overall revenues fell almost 29pc from a year earlier to 5.5mmn reals ($1.7mn), but were 4.1pc
    • Read more
    • NEWS | 30 Jun 09:54
    • China allocates 2H indium export quotas
    • Beijing, 30 June (Argus) — China's ministry of commerce has allocated export quotas for minor metal indium for the second half of 2016. Indium export quotas are allocated twice a year and second-half quotas comprise 30pc of the total annual amount which is 231,000kg this year, a slight
    • Read more
    • NEWS | 29 Jun 21:55
    • Canadian aluminum output rate falters in May
    • Houston, 29 June (Argus) — Canada's rate of primary aluminum production declined in May for the first time in 12 months, according to the Aluminum Association of Canada. The country's rate of production in May decreased 0.9pc point to 3.21mn t/yr from 3.24mn t/yr in April. Year to date
    • Read more
    • NEWS | 29 Jun 21:47
    • Nafta leaders close ranks on steel overcapacity
    • Houston, 29 June (Argus) — Leaders of the three Nafta member states today agreed to strengthen mechanisms aimed at addressing government policies that "lead to distortions" in the steel and aluminum sectors and contribute to excess capacity. US President Barack Obama, Mexico's Enrique
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    • NEWS | 29 Jun 21:35
    • Worthington processes more steel, sales fall in 2016
    • Houston, 29 June (Argus) — Ohio-based diversified metals manufacturer Worthington Industries processed 0.4pc more steel in its 2016 fiscal year than it did in 2015 while revenue from the segment fell due to lower prices. The company processed 3.52mn net tons (3.19mn metric tonnes) of st
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    • NEWS | 29 Jun 21:27
    • USW calls out KPS bid to merge USSC, Algoma
    • Houston, 29 June (Argus) — Private equity firm KPS Capital (KPS), which has agreed to purchase Essar Steel Algoma, is also seeking to purchase US Steel Canada (USSC) to merge the two Ontario operations in a move the United Steelworkers union alleges would hurt workers' interests. "We do
    • Read more
    • NEWS | 29 Jun 21:13
    • US aluminum: Midwest premium falls
    • Houston, 29 June (Argus) — The US midwest premium for primary aluminum fell for a sixth week, as weak demand caused sellers to offer the material at lower prices. The premium decreased to 7-7.25¢/lb from 7.25-7.4¢/lb a week earlier. Many large consumers are unlikely to return to the sp
    • Read more
    • COMMENTARY | 29 Jun 21:06
    • US aluminum scrap: UBC spreads hold
    • Houston, 29 June (Argus) — Used aluminum beverage cans spreads were flat this week as competition among consumers prevented spreads from widening. Consumers purchased UBCs at approximately 78-79pc of the Argus midwest transaction price, the same as a week earlier. Outright prices de
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    • NEWS | 29 Jun 21:06
    • Cuba courting nickel investors
    • Kingston, 29 June (Argus) — Cuba is courting investors to modernize its nickel industry, cut production costs and increase output, government officials tell Argus . Prospective investors have been invited to consider exploiting new deposits beyond the existing production site at Moa in
    • Read more
    • COMMENTARY | 29 Jun 20:22
    • US copper scrap: Comex lift draws scrap
    • Houston, 29 June (Argus) — US No. 1 bare bright copper scrap price spreads remained unchanged in the latest week, as more material became available with a pickup in the last three days of Comex terminal prices. Consumer buying price spreads for No.1 bare bright were at level September C
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    • NEWS | 29 Jun 19:39
    • Bonnell Aluminum halts operations after accident
    • Houston, 29 June (Argus) — US aluminum extruder and billet producer Bonnell Aluminum suspended some of its operations after an accident occurred early today at the casting area of its Newnan, Georgia, plant. "The safety of our employees is our number one priority so we have temporarily
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    • NEWS | 29 Jun 19:25
    • Alcoa offers details of spin-off plans
    • Houston, 29 June (Argus) — Vertically integrated aluminum producer Alcoa offered financial details on the proposed split of its upstream and downstream halves into two publicly traded companies in filings today with the US Securities and Exchange Commission. The filing details financial
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    • COMMENTARY | 29 Jun 19:15
    • US copper: Cathode premiums under pressure
    • Houston, 29 June (Argus) — US copper cathode premiums were unchanged for a second week amid mounting downward pressure. Grade A cathode premiums were at 6-7¢/lb delivered midwest consumer Wednesday as sellers said they were resisting bids to lower the premium amid weak demand and surplu
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    • COMMENTARY | 29 Jun 18:09
    • Turkish scrap: Negotiations continue
    • London, 29 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment edged down 90¢/t today to $219/t cfr Turkey, on the back of the assessment of a US deal received yesterday evening after Argus' timestamp. A US supplier sold 20,000t of HMS 1/2 80:20 at $219/t an
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    • ANALYSIS | 29 Jun 18:05
    • Lead prices forecast to weaken
    • Houston, 29 June (Argus) — US bank Morgan Stanley forecasts lead prices to drop by 1.1pc in 2016 from the prior year, as supply growth "keeps pace" with subdued demand. London Metal Exchange lead will average $1,768/t this year, down from $1,788/t in 2015. Prices are forecast to recover
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    • NEWS | 29 Jun 17:36
    • BTG Pactual commodities spin off vote in July
    • Sao Paulo, 29 June (Argus) — BTG Pactual shareholders will vote on whether to approve a proposed separation of the company's commodities trading activities at a shareholders meeting on 14 July. As part of plans to spin off the trading arm into a separate company called Engelhart Commodi
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    • COMMENTARY | 29 Jun 17:13
    • US minor metals: Selenium rises, indium edges down
    • New York, 29 June (Argus) — US selenium prices continued rising during the past week as Chinese suppliers withheld exports. Selenium (Se 99.5pc) prices rose to $6.75-8.00/lb during the latest week from $6.30-7.20/lb a week earlier. Offshore buying activity remained firm, outpacing near-
    • Read more
    • NEWS | 29 Jun 16:42
    • China's Galaxy Magnets expects 1H profit rise
    • Beijing, 29 June (Argus) — Chinese private-sector Shenzhen-listed Galaxy Magnets, one of the world's largest rare earth magnet producers, has guided for a sharp rise in profits in January-June to 49.69mn-55.21mn yuan ($7.5mn-8.3mn), up by 35-50pc from Yn36.81mn a year earlier. The comp
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    • NEWS | 29 Jun 15:09
    • Latrobe agrees to develop magnesium plant in Germany
    • Johannesburg, 29 June (Argus) — Australia's Latrobe Magnesium has entered into an agreement with Germany's RWE Power to continue developing a magnesium plant capable of producing 30,000 t/yr of magnesium from brown coal fly ash at the Hambach mine near Cologne in Germany. The four-stage
    • Read more
    • NEWS | 29 Jun 15:04
    • US approves Ball, Rexam merger
    • Houston, 29 June (Argus) — The US Federal Trade Commission has formally approved Colorado-based aluminum packaging manufacturer Ball's merger with UK competitor Rexam. Approval for the deal came just days before the company's projected end of June timetable. Following the divestments
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    • NEWS | 29 Jun 15:04
    • Norilsk closes old nickel plant
    • London, 29 June (Argus) — Russia's nickel producer Norilsk Nickel has completed its plan to close an old nickel plant in the town of Norilsk, its single biggest polluter, and to transfer the processing of the nickel-containing feed to its newer Nadezhda Metallurgical Plant. The plant wa
    • Read more
    • COMMENTARY | 29 Jun 14:47
    • Cancana to build Brazilian manganese facility by 2017
    • New York, 29 June (Argus) — Canadian-based mine developer Cancana Resources signed a contract this week to begin construction of a manganese processing facility in Brazil's Rondônia state. The facility will be operated by the Cancana and Ferrometals joint venture Brazil Manganese (BMC)
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    • NEWS | 29 Jun 14:37
    • Steel prices forecast
    • "solid" in medium term Houston, 29 June (Argus) — US bank Morgan Stanley expects future steel production cuts to result in "solid" medium-term price performance as global demand for finished steel increases by 0.4pc in 2016. Morgan Stanley expects finished steel demand in 2016 to incre
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    • NEWS | 29 Jun 14:37
    • Steel prices forecast "solid" in medium term
    • Steel prices forecast solid in medium term Houston, 29 June (Argus) US bank Morgan Stanley expects future steel production cuts to result in solid medium-term price performance as global demand for finished steel increases by 0.4pc in 2016. Morgan Stanley expects finished steel demand in
    • Read more
    • NEWS | 29 Jun 14:10
    • New Millennium Iron cancels Canadian port contract
    • London, 29 June (Argus) — Canada-based New Millennium Iron has cancelled an iron ore loading contract with the Port of Sept-Iles in Quebec, the firm said yesterday. The company agreed in July 2012 to reserve an iron ore loading capacity of 15mn t at the port's new multi-user dock, which
    • Read more
    • ANALYSIS | 29 Jun 14:05
    • Nickel prices forecast to fall
    • Houston, 29 June (Argus) — US bank Morgan Stanley forecast global nickel prices to fall by 2.3pc in the third quarter and then to remain flat through the end of the year. Nickel prices are expected to fall to $8,598/ton during the third and fourth quarters, from $8,804/t in the second
    • Read more
    • NEWS | 29 Jun 14:05
    • Ratings agencies warn on Baosteel, Wisco merger
    • Singapore, 29 June (Argus) — Credit rating agencies have said the merger of China's state-controlled companies Baosteel and Wuhan Iron Steel will possibly be negative for Baosteel's credit rating, although for now both have been left unchanged. The ratings warning by Moody's Investor
    • Read more
    • NEWS | 29 Jun 11:30
    • Spain tungsten project gets land access boost
    • Sao Paulo, 29 June (Argus) — Development plans for the Barruecopardo tungsten project in northwestern Spain have been boosted following a legal declaration by regional authorities, minority partner Ormonde Mining has said. The regional government of Castilla y Leon has approved a 'Decla
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    • NEWS | 29 Jun 11:27
    • China’s Minmetals suspends FeMn alloy production
    • China's Minmetals suspends FeMn alloy production Beijing, 29 June (Argus) — Large Chinese state-controlled producer Minmetals Hunan Ferroalloys halted production of ferro-manganese alloy this week because of heavy losses and sporadic buying. The producer, based in Ulanqab in the northwes
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    • NEWS | 29 Jun 11:05
    • China's Fugu Taida plans Mg plant maintenance in July
    • Beijing, 29 June (Argus) — Chinese private-sector Fugu Taida Carbonification will start equipment maintenance at its magnesium plant next month which is expected to last for 20 days. The plant, which is located in Yulin city in Shaanxi province has a production capacity of 30,000 t/yr.
    • Read more
    • NEWS | 29 Jun 10:45
    • Wacker signs new polysilicon supply deal
    • London, 29 June (Argus) — German speciality chemicals maker Wacker Chemie has agreed a $15mn deal to supply polysilicon to US-based solar wafer maker 1366 Technologies. Wacker will supply polysilicon, which accounts for around 14-15pc of total annual world silicon consumption, from its
    • Read more
    • NEWS | 29 Jun 10:36
    • Heibei Zhongheng to buy S Africa's Barplats
    • Johannesburg, 29 June (Argus) — Canadia-based Eastern Platinum has agreed to sell its Barplats platinum group metals and chrome subsidiary in South Africa to China's Hebei Zhongheng Tianda Platinum for $50mn. The main asset within Barplats is the Crocodile River Mine near Brits in South
    • Read more
    • NEWS | 29 Jun 09:27
    • China allocates 2H antimony export quotas
    • Beijing, 29 June (Argus) — China's ministry of commerce has allocated export quotas for antimony metal and antimony trioxide for the second half of 2016. Antimony quotas are allocated twice a year and second-half quotas account for 30pc of the total annual amount which is 54,400t this
    • Read more
    • COMMENTARY | 28 Jun 22:38
    • US aluminum scrap: Mill-grade prices mixed
    • Houston, 28 June (Argus) — Mill-grade aluminum scrap prices were mixed Tuesday from a week earlier amid lower terminal exchange prices. London Metal Exchange cash aluminum settled at $1,602/t (72.7¢/lb) Tuesday, up from $1,623.50/t (73.6¢/lb) a week earlier, while price spreads moved in
    • Read more
    • NEWS | 28 Jun 22:19
    • Titanium dioxide demand forecast to rise
    • New York, 28 June (Argus) — Global demand for titanium feedstock is projected to rise by 1pc in 2016, according to research from Morgan Stanley. Titanium feedstock demand will increase to 6.91mn t in 2016, up from 6.84mn t in 2015. Demand is projected to maintain a 1pc growth rate throu
    • Read more
    • ANALYSIS | 28 Jun 22:06
    • Morgan Stanley cuts copper outlook on UK vote
    • Houston, 28 June (Argus) — US bank Morgan Stanley lowered its copper price forecast for 2016 amid lower-than-expected demand from China and a strengthening dollar on the heels of the UK vote to leave the EU. The bank anticipates copper prices in the second half of 2016 to be $2.05/lb,
    • Read more
    • ANALYSIS | 28 Jun 21:27
    • Morgan Stanley cuts alumina, aluminum price forecasts
    • Houston, 28 June (Argus) — US bank Morgan Stanley has revised its global price forecast for aluminum downward by 3pc in the near term as higher terminal prices are likely to reactivate production and make new supplies available. The bank projects a third and fourth quarter average price
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    • COMMENTARY | 28 Jun 21:04
    • Copper: Cathodes flat as supply tightens
    • Houston, 28 June (Argus) — Better grade cathodes are less available in Rotterdam this week than a week earlier as inventory moves to China, which may prompt an uptick in premiums in coming weeks. Grade A copper cathodes remained at $35-45/t in-warehouse Rotterdam in the latest week, unc
    • Read more
    • ANALYSIS | 28 Jun 20:18
    • Morgan Stanley hikes zinc price forecast
    • Houston, 28 June (Argus) — US bank Morgan Stanley has raised its near term price forecast for zinc by 13pc from its prior outlook, based on increased demand from galvanized steelmakers and decreased mine output. The price of zinc has "defied expectations" to emerge as the top performing
    • Read more
    • NEWS | 28 Jun 20:04
    • Morgan Stanley forecasts lower steel demand for 2016
    • Houston, 28 June (Argus) — US bank Morgan Stanley expects finished steel demand in North America to fall by 6.7pc in 2016 compared to a year earlier, while crude steel production is forecast to grow at a faster rate over the the same period. Finished steel demand is expected to fall to
    • Read more
    • COMMENTARY | 28 Jun 18:55
    • Turkish scrap: Flurry of sales please both sides
    • London, 28 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved down $2.10/t to $219.90/t cfr Turkey on the back of multiple sales of US, UK and continental European deep-sea cargoes today. The Turkish mills' wait until now, just before the Bayram holid
    • Read more
    • COMMENTARY | 28 Jun 17:29
    • US minor metals: Silicon steady with low volume demand
    • New York, 28 June (Argus) — US silicon metal was flat during the latest week amid steady offshore prices and low-volume demand. Silicon metal (Si 98.5pc) prices were unchanged at $0.91-0.93/lb for a second week. Limited overall spot market volumes were offset by steady offshore prices a
    • Read more
    • COMMENTARY | 28 Jun 17:18
    • US minor metals: High grade cobalt up on firm demand
    • New York, 28 June (Argus) — US high-grade cobalt prices increased during the latest week amid a rise in small-volume demand. High-grade cobalt (Co 99.8pc) prices rose to $10.90-11.40/lb from $10.90-11.25/lb the prior week. Small-tonnage orders from US high-strength steelmakers were up,
    • Read more
    • NEWS | 28 Jun 16:43
    • Venturex upgrades Sulphur Springs Cu/Zn ore reserve
    • Johannesburg, 28 June (Argus) — Australia's Venturex Resources has upgraded ore reserves at its Sulphur Springs copper-zinc project near Port Hedland in Western Australia. The company now has a probable reserve of 84,000t of copper and 255,000t of zinc at the project which has a mineral
    • Read more
    • COMMENTARY | 28 Jun 14:59
    • LME minors: Mo consolidates gains, cobalt flat
    • London, 28 June (Argus) — London Metal Exchange (LME) molybdenum cash price has consolidated its previous run higher in the past week, with lower physical prices cooling bullish sentiment from LME investors. The LME cash market jumped more than 12pc the week before last on short coveri
    • Read more
    • NEWS | 28 Jun 14:28
    • GEMCO signs deal to expand Mn mine
    • London, 28 June (Argus) — Australian mining firm Groote Eylandt Mining (GEMCO) has signed a land access agreement with the Groote Eylandt Traditional Owners and the Anindilyakwa Land Council to extend its manganese mine in northern Australia. The miner said the agreement allows GEMCO, a
    • Read more
    • NEWS | 28 Jun 14:17
    • India Irel's ilmenite, zircon processing plant delayed
    • Mumbai, 28 June (Argus) — The launch of a trial commercial project in the state of Odisha for processing ilmenite and zircon developed by India's state-controlled Indian Rare Earths (IREL) is facing minor delays over the holding of a public hearing. The project, a technology demonstrat
    • Read more
    • COMMENTARY | 28 Jun 13:41
    • US minor metals: Selenium, antimony rise on low supply
    • New York, 28 June (Argus) — Limited supplies of selenium and antimony drove prices higher in the past week and firm demand lifted cobalt. But offers for indium fell amid minimal near-term demand. Antimony Traders and suppliers raised their offers amid limited near-term supply followin
    • Read more
    • NEWS | 28 Jun 11:13
    • China completes formation of Southern Rare Earth Group
    • Beijing, 28 June (Argus) — The Chinese government has moved closer to the consolidation of the rare earth industry with the formation of Southern Rare Earth Group by large state-controlled mining firms Ganzhou Rare Earth Group, Jiangxi Copper and Jiangxi Tungsten. The province of Jiang
    • Read more
    • NEWS | 28 Jun 10:47
    • Australian companies to test Li carbonate technology
    • Johannesburg, 28 June (Argus) — Australia's Pilbara Minerals and Lithium Australia have reached an agreement to evaluate a new low cost processing technology for lithium carbonate production. Pilbara Minerals owns the Pilangoora lithium-tantalum project in Western Australia and Lithium
    • Read more
    • NEWS | 28 Jun 10:36
    • Bauba gets 20-year chrome mining right
    • Johannesburg, 28 June (Argus) — South African platinum and chrome producer Bauba Platinum has been granted a 20-year chrome mining right and is in negotiations to develop an underground mine to produce around 30,000 t/month of chrome ore. The company said it has been granted the mining
    • Read more
    • NEWS | 28 Jun 10:32
    • Caravel releases scoping study on Calingiri Cu project
    • Johannesburg, 28 June (Argus) — Perth-based Caravel Minerals has said that a scoping study confirms that its Calingiri copper project in Western Australia is technically and financially robust and will lead to a pre-feasibility study being completed in the first half of 2017. The compan
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    • NEWS | 28 Jun 10:24
    • Brazil cuts nickel duty for 6 months
    • Sao Paulo, 28 June (Argus) — Brazil is temporarily cutting import duty on nickel because a shortage of the metal, foreign trade chamber Camex has said. Duty will be cut for 180 days to 2pc from 6pc. The measure covers a 3,600t quota for the metal. It was approved under rules governing
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    • NEWS | 28 Jun 10:02
    • Henan Billions becomes fourth largest TiO2 producer
    • Beijing, 28 June (Argus) — Chinese private-sector Henan Billions Chemicals is the world's fourth largest titanium dioxide producer following its acquisition of Sichuan Lomon Titanium Industry (SLTIC) which was completed last week. The company's production capacity has now increased to 5
    • Read more
    • NEWS | 27 Jun 21:30
    • US steel imports fall, led by EU drop
    • Houston, 27 June (Argus) — US steel imports decreased by 18pc in May from a year earlier, led by lower imports from EU countries. US imports totaled 2.8mn net tons (2.5mnmetric tonnes) for the month, the American Institute for International Steel said today. Imports were up by 12.1pc fr
    • Read more
    • NEWS | 27 Jun 20:42
    • Great Lakes, northeast boost US raw steel production
    • Houston, 27 June (Argus) — US raw steel production rose by 0.4pc in the week ended 25 June compared to a week earlier as production increased in the north east and Great Lakes regions. Output in the latest week increased to 1.76mn net tons (1.6mn metric tonnes) from 1.75mn nt a week ea
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    • COMMENTARY | 27 Jun 20:40
    • EU zinc: Premiums flat in thin trade
    • Houston, 27 June (Argus) — Zinc premiums were unchanged in thin European trading heading into the summer holidays and plant maintenance outages. Zinc premiums remained at $120-130/t in-warehouse Rotterdam for a second week after falling from $130-140/t. Merchants said many of their sal
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    • COMMENTARY | 27 Jun 19:35
    • US zinc: Premiums flat as stocks grow on UK vote
    • Houston, 27 June (Argus) — US zinc premiums remained unchanged in the latest week amid thin spot trading and an upsurge in London Metal Exchange warehouse stockpiles. The zinc premium was at 6.5 -7.5¢/lb delivered, unchanged from a week earlier. Some offers in the 6¢/lb premium range we
    • Read more
    • COMMENTARY | 27 Jun 19:16
    • Turkish scrap: Mills activate early this week
    • London, 27 June (Argus) — Three Turkish mills were looking for deep-sea scrap today, with market participants claiming that one, Iskenderun mill, placed a bid at a "very low level," not considerable by any deep-sea scrap supplier, they said. The latter could not be verified by the time
    • Read more
    • COMMENTARY | 27 Jun 16:16
    • US ferro-alloys: FeCr rises on small-volume demand
    • New York, 27 June (Argus) — US high carbon ferro-chrome prices edged up during the latest week amid a rise in small-volume orders. US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices were up at 86-89¢/lb over the past week from 85-88¢/lb a week earlier. Spot market demand increased fro
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    • NEWS | 27 Jun 16:15
    • Nystar sells Chile zinc mine
    • Sao Paulo, 27 June (Argus) — Belgian zinc producer Nyrstar has agreed to sell its El Toqui polymetallic mine in Chile to Australia's Laguna Gold for $25mn, plus future proceeds through a price participation agreement with Laguna. The deal is part of sale for Nyrstar's mining assets, wh
    • Read more
    • NEWS | 27 Jun 16:14
    • China's Baosteel, Wisco eye merger
    • Singapore, 27 June (Argus) — China's state-controlled Baosteel and Wuhan Iron Steel are on track for a merger, which would create the world's second-largest steel company. The companies only said that they are in talks to restructure their operations but did not give details. The ann
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    • NEWS | 27 Jun 16:11
    • China targets 45mn t/yr steel capacity cut
    • Singapore, 27 June (Argus) — China is targeting to reduce steel production capacity by 45mn t/yr this year, as part of a five-year plan to reduce 12pc of the existing production capacity of 1.2bn t/yr. The capacity reduction target would involve "relocation" of 180,000 workers out of th
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    • COMMENTARY | 27 Jun 15:04
    • Base metals prices settle at start of week
    • London, 27 June (Argus) — As the post-Brexit week gets under way base metals on the London Metal Exchange are trading lower but still very close to Friday's closing levels. Traders are still digesting the implications of Britain's vote to leave the EU. In terms of demand the UK plays a
    • Read more
    • NEWS | 27 Jun 14:15
    • Illegal chrome mining hits S Africa's Limpopo province
    • Johannesburg, 27 June (Argus) — Illegal gold mining has long been a phenomenon in South Africa, but now it appears that illegal chrome mining involving an estimated 360,000t has been taking place in the country's Limpopo province since the middle of 2015. The Department of Mineral Resou
    • Read more
    • NEWS | 27 Jun 12:44
    • Chinese premier eyes capacity cuts, European stability
    • Singapore, 27 June (Argus) — China is committed to cutting excess industrial capacity and stabilising world markets after the UK vote to leave the EU, Chinese premier Li Keqiang said today. China "will phase out outdated production capacities, cut capacity in steel and coal industries,
    • Read more
    • ANALYSIS | 27 Jun 12:00
    • UK vote to leave EU could lift Chinese metal exports
    • Beijing, 27 June (Argus) — The vote by the UK last week to leave the EU could increase China's exports in the long term. The UK's vote to leave the EU is expected to lead to the further deprecation of the pound but the appreciation of the US dollar, which will in turn weaken the value
    • Read more
    • NEWS | 27 Jun 11:41
    • China May minor metal exports mixed with rise for In, W
    • Beijing, 27 June (Argus) — Chinese exports of indium metal and tungsten carbide rose sharply in May, while chromium, germanium and antimony exports all fell. China exported 399t of tungsten carbide in May, a 74pc increase compared with 229t a year earlier. The increase was driven by sus
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    • NEWS | 27 Jun 11:28
    • Botswana Metals eyes bankable study on Ni/Co/Cu project
    • Johannesburg, 27 June (Argus) — Australia-based Botswana Metals is to go ahead with a bankable feasibility study on its Maibele North nickel-copper-cobalt joint venture project in Botswana. The company said it and its partner state-owned BCL will also apply for a mining licence for open
    • Read more
    • NEWS | 27 Jun 11:21
    • Northern Minerals signs pilot dysprosium offtake deal
    • Johannesburg, 27 June (Argus) — Perth-based heavy rare earths developer Northern Minerals has signed an offtake agreement relating to dysprosium output from a proposed pilot plant at its Browns Range project. The company said payment terms are included in the agreement with a reputable
    • Read more
    • NEWS | 27 Jun 08:39
    • Australia's South32 cuts Mn ore export prices for July
    • Beijing, 27 June (Argus) — Australian mining company South32 has released manganese ore export prices for China for July shipment. South32 has cut its prices for Australian lumpy manganese ore 45.5pc, Fe 5pc and Australian chip manganese ore 49pc, Fe 5pc to $3.10/metric tonne unit (mtu)
    • Read more
    • ANALYSIS | 24 Jun 21:30
    • This Week in Metals: 20-24 June
    • Houston, 24 June (Argus) — As Britain woke to a surprise decision to leave the EU, metal markets, equities and currencies went into overdrive. Volumes rose particularly in copper and aluminium trade as the pound declined to a 30-year low. But investors soon remembered that commodities a
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    • NEWS | 24 Jun 19:43
    • WEEK IN REVIEW: Brexit reality
    • London, 24 June (Argus) — As Britain woke up to a surprise decision to leave the European Union on Friday morning metal markets, as much as equities and currencies, went into overdrive. Volumes rose particularly in copper and aluminium as the pound declined to a 30-year low and the S P t
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    • NEWS | 24 Jun 19:15
    • UK vote hits scrap sentiment, other prices unaffected
    • London, 24 June (Argus) — The vote by the UK to leave the EU has weakened sentiment in steel feedstocks markets, and in the European steel market in particular, but is unlikely to significantly impact physical global trading of iron ore, coking coal or metallurgical coke in the immediate
    • Read more
    • COMMENTARY | 24 Jun 18:56
    • Turkish scrap: Iskenderun mill pays $222/t cfr
    • London, 24 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has retreated by $1.50/t to $222/t cfr Turkey, on the back of the assessment of a St. Petersburg cargo sold yesterday evening to an Iskenderun mill. The St. Petersburg exporter sold 20,000t of HMS
    • Read more
    • COMMENTARY | 24 Jun 18:54
    • UK exporter receives more Turkish scrap enquiries
    • London, 24 June (Argus) — A UK supplier has received more enquiries from Turkish mills for deep-sea scrap today compared with yesterday, after the pound's significant depreciation against the US dollar this morning following the UK vote to leave the EU. The supplier already received bid
    • Read more
    • COMMENTARY | 24 Jun 18:24
    • Aluminum scrap: Zorba falls, other scrap mixed
    • Houston, 24 June (Argus) — US export zorba prices fell in Chinese trade in the latest week, while most other aluminum scrap traded mixed and exchange prices ended lower at the end of the week on US dollar gains following the UK referendum. Zorba, 94pc metallic with 3-4pc red metal conte
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    • COMMENTARY | 24 Jun 18:07
    • US stainless: Scrap solids gain
    • Houston, 24 June (Argus) — US stainless steel scrap prices gained in the latest week as spot market availability remained tight and London Metal Exchange nickel moved higher for much of the week before falling Friday as the dollar strengthened after the UK voted to exit the EU. Processo
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    • NEWS | 24 Jun 17:09
    • US finds injury in corrosion resistant trade cases
    • Houston, 24 June (Argus) — The US International Trade Commission (ITC) determined today that corrosion-resistant steel imports from China, India and three other countries caused or threatened to cause injury to US industry. The decision paves the way for the levying of combined duties a
    • Read more
    • NEWS | 24 Jun 16:36
    • Sherritt suspends Ambatovy production for 14 days
    • Sao Paulo, 24 June (Argus) — Canada's Sherritt International has said production is being shut down for 14 days at its Ambatovy nickel-cobalt joint venture in Madagascar. Engineers are bringing forward yearly maintenance to deal with and investigate the causes of a pipeline blockage.
    • Read more
    • COMMENTARY | 24 Jun 16:26
    • LME nickel, zinc, lead, tin lower
    • London, 24 June (Argus) — The Brexit vote overshadowed all other events in the base metals this week, including a mild rally across most metals, notably nickel, with volumes rising and prices declining by almost 3pc. Although nickel prices increased to $9,265/t mid-week, after the Brex
    • Read more
    • NEWS | 24 Jun 16:09
    • China set to stockpile 10,000t of antimony
    • Beijing, 24 June (Argus) — China's State Reserve Bureau (SRB) is set to launch stockpile buying for 10,000t of antimony metal this year, but no dates have yet been published. China Minmetals will be in change of a 5,000t national stockpile, while Hunan Gold will purchase 5,000t for a c
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    • NEWS | 24 Jun 15:02
    • US steel exports fall
    • Houston, 24 June (Argus) — US steel exports decreased by almost 6pc in April from a year earlier, led by lower imports from the EU. The US exported 794,537nt (720,791.3 metric tonnes) of steel in April, the American Institute for International Steel (AIIS) said today. April exports to
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    • NEWS | 24 Jun 15:01
    • Large rise in China FeCr exports in May
    • Beijing, 24 June (Argus) — China's customs agency has released ferro-alloys export data for May which shows significant increases for ferro-chrome. Exports of high carbon ferro-chrome rose to 72t in May from 34t one year earlier. Volume increased because of rising demand from the Democ
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    • COMMENTARY | 24 Jun 14:34
    • US ferro-alloys: FeMn, SiMn steady on low-volume demand
    • New York, 24 June (Argus) — US high carbon ferro-manganese was flat for a fifth consecutive week as low-volume trading offset lower offshore prices. High carbon ferro-manganese (Mn 80pc, C 6-8pc) prices were unchanged at $810-860/gt during the latest week. Spot market demand edged up sl
    • Read more
    • NEWS | 24 Jun 14:30
    • Sichuan metals output down, rare earths up
    • Beijing, 24 June (Argus) — Metals and alloys production in China's Sichuan province fell across the board in the first five months of this year because of lower physical demand amid slower economic growth, except for rare earths where exports increased. Sichuan's output of rare earth m
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    • NEWS | 24 Jun 12:15
    • Gold rises on Brexit vote, base metals lower
    • London, 24 June (Argus) — As the City woke up to find that Britain was leaving the EU, the pound dropped to the lowest level in 30 years, the FTSE declined over 8pc and gold traders run out of gold as market participants flocked to the precious metal. With other UK markets in decline,
    • Read more
    • NEWS | 24 Jun 11:53
    • Lithium Power International debuts on ASX
    • Johannesburg, 24 June (Argus) — Australian headquartered Lithium Power International has debuted on the Australian Stock Exchange (ASX) after raising 8mn Australian dollars ($5.9mn) in an oversubscribed initial public offering. The company has said it intends to use the funds to explore
    • Read more
    • NEWS | 24 Jun 11:43
    • Daqo gets funding to boost polysilicon production
    • London, 24 June (Argus) — China polysilicon and wafer producer Daqo New Energy has secured $76mn (Yn500mn) of funding from Chongqing Rural Commercial Bank to boost polysilicon production by 50pc, the company said. Daqo said the available funding will be invested in capital expenditures
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    • NEWS | 24 Jun 11:37
    • Dakota expects to announce Li resource in 3Q
    • Johannesburg, 24 June (Argus) — Perth-based Dakota Minerals expects to announce a maiden mineral resource at its Lynas Find lithium project in Western Australia during the third quarter. Phase two drilling has been completed at the project in the lithium and tantalum rich Pilangoora reg
    • Read more
    • NEWS | 24 Jun 10:35
    • S Africa gold shares surge on Brexit surprise
    • Johannesburg, 24 June (Argus) — South African gold shares have surged on Friday as a direct result of the UK's surprise vote to leave the European Union, but shares in other metal and mineral producers have fallen. Gold's overnight rise of more than $30/oz to above $1,315/oz has sparked
    • Read more
    • NEWS | 24 Jun 02:50
    • Chinese authorities progress on Fanya case
    • Beijing, 24 June (Argus) — Chinese police have formally arrested the owner of the Fanya Metal Exchange (FME), Shan Jiuliang, and 18 associates as the authorities continue their investigation into the exchange, which claims to have built up thousands of tonnes of non-ferrous metal stocks.
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    • NEWS | 24 Jun 02:48
    • Vale promises discipline in iron ore supply
    • London, 24 June (Argus) — Brazilian mining firm Vale insists that it will "be disciplined with supply" of iron ore to the global market as it pushes ahead with plans to ramp up its S11D mine in Brazil to 420mn-450mn t/yr by 2018. The S11D mine, which is located in Carajas, in the northe
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    • COMMENTARY | 24 Jun 02:46
    • LME nickel prices rise
    • London, 24 June (Argus) — London Metal Exchange (LME) nickel prices rallied this week after the Philippine president-elect Rodrigo Duterte criticised local nickel mining firms on environmental issues and indicated that they may be facing closures if they do not adhere to regulations. LM
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    • COMMENTARY | 24 Jun 01:56
    • Turkish scrap: Most sellers out, mills seek cargoes
    • London, 24 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment shed $2.50/t today to settle at $223.50/t cfr Turkey, on the back of a deal done yesterday evening, and bids and offers in today's market. A Baltic supplier sold 8,000t of HMS 1/2 80:20, 14,000t of
    • Read more
    • COMMENTARY | 24 Jun 01:54
    • US metcoal: Prices mixed on demand, US dollar
    • New York, 24 June (Argus) — Prices of US coking coal for export were mixed this week, as a weaker dollar gave US producers an edge in global markets but a drop in pig iron production reduced overall international demand. Prices for low-volatile coking coal for delivery in the prompt qua
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    • NEWS | 23 Jun 22:55
    • US steel imports rise in May
    • Houston, 23 June (Argus) — US steel imports rose by 12.2pc in May from the prior month, led by a 60pc increase in imports of ingots, billets and slabs. Year to date, imports fell by nearly a third. Total imports rose to 2.8mn nt (2.5mn metric tonnes) in May from 2.5mn nt in April, the A
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    • NEWS | 23 Jun 21:13
    • US finds “critical circumstances” in China trade case
    • US finds "critical circumstances" in China trade case Houston, 23 June (Argus) — The US Commerce Department has issued a preliminary determination that "critical circumstances" exist for imports of stainless steel sheets and strip from China, setting the stage for the levying of retroacti
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    • COMMENTARY | 23 Jun 20:58
    • Stainless steel: Scrap in Europe follows nickel higher
    • Houston, 23 June (Argus) — Stainless steel scrap prices rose in European trade, partly reflecting gains in terminal nickel prices, while scrap prices were largely mixed in Asia. Stainless steel 304 scrap solids in Rotterdam and Germany rose to 48-49¢/lb this week from 47-48¢/lb a week e
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    • NEWS | 23 Jun 19:26
    • USW members ratify ArcelorMital contract
    • Houston, 23 June (Argus) — United Steelworkers (USW) members ratified a new contract with Luxembourg-based steel producer ArcelorMittal. The contract sets new terms and conditions of employment for nearly 14,000 hourly workers at 15 of ArcelorMittal's US locations. The contract will be
    • Read more
    • COMMENTARY | 23 Jun 19:09
    • US copper scrap: Bare bright spreads flat
    • Houston, 23 June (Argus) — US copper No. 1 bare bright scrap spreads were unchanged as scrap volumes were muted. Consumer buying price spreads for No. 1 bare bright were unchanged at level July Comex to 2¢/lb under Comex delivered Thursday. Limited supply is keeping spreads tight and
    • Read more
    • NEWS | 23 Jun 18:46
    • New aluminium wheels plant opens in Brazil
    • Sao Paulo, 23 June (Argus) — US-based Maxion Wheels, a division of Iochpe Maxion has opened a new light vehicle aluminium wheel plant in Limeira, São Paulo state, Brazil. The new facility is near to the company's existing steel wheel plant, and will eventually boost capacity by 2mn whe
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    • NEWS | 23 Jun 18:44
    • Mechel FeSi sales rise
    • London, 23 June (Argus) — Russian integrated miner-steelmaker Mechel reported ferro-silicon sales of 25,000t in the first quarter 2016. This was a 14pc increase on sales of 22,000t in the first quarter 2015 and 27pc increase on 19,000t sold in the fourth quarter of last year. The growt
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    • COMMENTARY | 23 Jun 17:22
    • CIS pig iron: Offers rise amid expectations of rebound
    • London, 23 June (Argus) — CIS pig iron suppliers have hiked their offers this week amid an uptick in purchasing by Italian buyers, with many market participants wondering whether regional scrap and pig iron prices have bottomed out and a price rebound is imminent. Italian buyers have pu
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    • NEWS | 23 Jun 17:11
    • Baosteel shuts 2.5mn t/yr blast furnace
    • London, 23 June (Argus) — Chinese state-controlled steelmaker Baosteel has permanently closed a blast furnace at is Baoshan plant in Shanghai, reducing pig iron capacity by 2.5mn t/yr. The 2,500m³ blast furnace, which had served Baosteel's stainless steel unit and had been operating for
    • Read more
    • COMMENTARY | 23 Jun 16:56
    • US ferro-alloys: Limited supplies boost FeTi prices
    • New York, 23 June (Argus) — US ferro-titanium prices increased during the latest week amid reduced near-term availability and steady steel mill demand. US ferro-titanium (Ti 70pc) prices edged up to $1.70-1.85/lb from $1.70-1.80/lb during the latest week. Steel mills were forced to incr
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    • NEWS | 23 Jun 15:53
    • CMC expects US construction to support demand
    • Houston, 23 June (Argus) — Texas-based recycler Commercial Metals (CMC) expects demand from the US construction markets to keep its results "strong" and "consistent" in the current quarter after the company's steel shipments rose in the latest three-month period. Steel shipments from th
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    • COMMENTARY | 23 Jun 14:19
    • US ferro-alloys: FeCr, FeTi rise, FeMo slides
    • New York, 23 June (Argus) — High carbon ferro-chrome prices increased amid firm near-term stainless steel mill demand. Meanwhile, ferro-molybdenum prices decreased during the latest week amid waning spot market volumes. The manganese alloy market remained flat as low-volume demand offset
    • Read more
    • NEWS | 23 Jun 14:09
    • US, Canadian aluminum mill product orders fall in May
    • Houston, 23 June (Argus) — US and Canadian orders of aluminum mill products were off by 1.5pc in May from the same month a year earlier, a decrease driven by fall flat-rolled products. Measured on an index prepared by the Aluminum Association, orders of aluminum mill products declined t
    • Read more
    • NEWS | 23 Jun 12:35
    • Winchester magnesium deposit attracts Chinese investor
    • Johannesburg, 23 June (Argus) — Perth-based Korab Resources has attracted a Chinese investor for the development of its Winchester magnesium carbonate deposit near Darwin in Australia's Northern Territory. The company said the individual investor represents interests in the Chinese stee
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    • NEWS | 23 Jun 12:20
    • AusTin Mining restarts Granville tin plant in Tasmania
    • Johannesburg, 23 June (Argus) — Brisbane-based AusTin Mining has started recommissioning its Granville tin processing plant in Tasmania and is seeking approval to expand the project and resume open pit mining. The company said it will resume operations utilising existing stockpiles incl
    • Read more
    • COMMENTARY | 22 Jun 23:00
    • Turkish scrap: Buyers mull over options
    • London, 22 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved up by $7.80/t to $226.0/t today on the back of the assessment of a European deal concluded yesterday afternoon, and received after Argus ' assessment time stamp. A continental European sup
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    • COMMENTARY | 22 Jun 22:04
    • Aluminium: Spot activity returns to Europe
    • Houston, 22 June (Argus) — Aluminium extrusion billet premiums increased in Europe in the latest week as a small uptick in spot transactions was enough to send prices higher. Buyers who did not contract their entire supply for the calendar year have entered the market to secure spot mat
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    • COMMENTARY | 22 Jun 21:23
    • US copper: Cathode premiums rise
    • Houston, 22 June (Argus) — US copper cathode premiums edged up in the latest week amid a limited pickup in demand from consumers. Grade A cathode premiums traded at 6-7¢/lb delivered midwest consumer Wednesday, up from 6-6.5¢/lb a week earlier. Tight supply of No.1 bare bright scrap c
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    • NEWS | 22 Jun 21:20
    • US aluminum scrap: UBC spreads hold amid rising supply
    • Houston, 22 June (Argus) — Used aluminum beverage cans spreads were unchanged this week as mills exercised caution in an abundantly supplied market. Consumers purchased UBCs at approximately 78-79pc of the Argus midwest transaction price, the same as a week earlier. Outright prices r
    • Read more
    • NEWS | 22 Jun 21:07
    • Aluminum group clarifies Commerce ruling
    • Houston, 22 June (Argus) — The US-based Aluminum Extruders Council (AEC) today said extrusion producer China Zhongwang Holdings was still under investigation for allegedly circumventing duties in a 2011 trade ruling on extrusions. The AEC said it was clarifying the 13 June Department of
    • Read more
    • NEWS | 22 Jun 20:00
    • Brazil to export enriched uranium to Argentina
    • Sao Paulo, 22 June (Argus) — Brazilian state-controlled nuclear energy developer Industrias Nucleares do Brasil (INB) signed an agreement to supply enriched uranium to Argentina's state-controlled nuclear energy firm Combustibles Nucleares Argentinos (Conuar). The $4mn sales contract en
    • Read more
    • COMMENTARY | 22 Jun 17:47
    • Europe-Turkey scrap freight rates fall
    • London, 22 June (Argus) — Freight rates for scrap cargoes heading to Turkey from northern European ports fell over the past week, coming under pressure from more vessels in key European ports. Rates for scrap cargoes of 30,000t on Supramax vessels heading to Turkey from Rotterdam were a
    • Read more
    • NEWS | 22 Jun 17:20
    • Base Resources expands Ti sands exploration
    • London, 22 June (Argus) — Australia-based titanium sands miner Base Resources plans to start a new drilling programme in the September quarter, having been granted exploration tenure over a land area surrounding its Kwale operations in Kenya. The initial program will involve up to 18,0
    • Read more
    • NEWS | 22 Jun 17:19
    • Latin America steel production down in May
    • Sao Paulo, 22 June (Argus) — Crude steel production in Latin America and the Caribbean remained under pressure in May, preliminary figures from Latin American steel association Alacero show. Output totalled 4.8mn t last month, down by 13pc from a year earlier but 6pc higher than in Apri
    • Read more
    • NEWS | 22 Jun 17:08
    • WTO bemoans rise in G20 protectionism
    • London, 22 June (Argus) — Rising protectionist measures by leading economies could damage global trade, and steel is one of the products most often subject to isolationist legislation, according to the World Trade Organisation (WTO). The G20 economies introduced 21 new protectionist tra
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    • NEWS | 22 Jun 17:05
    • Europe 3Q FeSi settlements clear of €900/t
    • London, 22 June (Argus) — European ferro-silicon suppliers are settling third quarter delivery settlements well above €900/t basis duty delivered paid, potentially pulling up spot prices in the near term, said market participants. One trader said he has sold 4,000t of standard grade fe
    • Read more
    • NEWS | 22 Jun 17:01
    • Tesla Motors bids for photovoltaic company
    • London, 22 June (Argus) — US electric vehicle and energy storage technology manufacturer Tesla Motors has made a bid to acquire SolarCity, a maker of photovoltaic solar power systems. Under the deal, worth up to $2.8bn, SolarCity would adopt the Tesla brand and sell its solar panels alo
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    • NEWS | 22 Jun 17:00
    • Thor tungsten project go ahead rests on higher prices
    • Sao Paulo, 22 June (Argus) — Australia's Thor Mining has said it is waiting for a further pick up in tungsten prices and funding to be able to set a timeline for production at its Molyhil project in Northern Territory. Thor executives said the previously producing mine, with an initial
    • Read more
    • NEWS | 22 Jun 16:56
    • Rusal in talks with Rushydro about new smelter
    • London, 22 June (Argus) — Russia's Rusal, the world's second largest aluminium producer, is in talks with hydroelectricity producer RusHydro about the power producer's possible involvement in the construction of the Taishet aluminium smelter. The smelter is being constructed in the Irku
    • Read more
    • NEWS | 22 Jun 16:52
    • Rusal keeps plants running as prices recover
    • London, 22 June (Argus) — Russian aluminium producer Rusal will not close Kandalaksha and Novokuznetsk, two of its aluminium smelters, as long as prices remain above $1,500/t. The two plants produce a relatively small portion of the company's total output. Their total capacity is 200,0
    • Read more
    • ANALYSIS | 22 Jun 16:25
    • Global market for refined lead swings into surplus
    • Houston, 22 June (Argus) — The global market for refined lead moved into surplus in the first four months of 2016 from a narrow deficit the same time a year earlier. The global market for refined lead metal was in a surplus of 23,000t in January-April, compared with a deficit of 2,000t
    • Read more
    • NEWS | 22 Jun 16:20
    • Tungsten Mining ups resource at Mulgine Hill project
    • Johannesburg, 22 June (Argus) — Australia's Tungsten Mining has updated the mineral resource at its Mulgine Hill tungsten project in the Murchison region of Western Australia. The mineral resource has been increased to 8.5mn t grading 0.19pc WO3 (tungsten oxide) at 56 MO parts per metr
    • Read more
    • NEWS | 22 Jun 16:16
    • Finnfjord running at full FeSi production capacity
    • London, 22 June (Argus) — Norwegian ferro-silicon producer Finnfjord Smelteverk is operating at full production since ramping up its works at the end of last after planned maintenance work on two of its furnaces. Finnfjord, which produces 75pc grade ferro-silicon sold to continental Eur
    • Read more
    • NEWS | 22 Jun 16:03
    • Highest FeCr benchmark since Q2 2014 good for S Africa
    • Johannesburg, 22 June (Argus) — Today's announcement of a larger than expected 19.5pc rise in the European third quarter ferro-chrome price to $0.98/lb marks a major turnaround in the market as it is the first price rise in nine consecutive quarters. The benchmark last experienced an in
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    • NEWS | 22 Jun 16:03
    • FeCr benchmark rise above expectations
    • Johannesburg, 22 June (Argus) — Today's announcement of a larger than expected 19.5pc rise in the European third quarter ferro-chrome price to $0.98/lb marks a major turnaround in the market as it is the first price rise in nine consecutive quarters. The benchmark last experienced an in
    • Read more
    • COMMENTARY | 22 Jun 15:54
    • US minor metals: Selenium extends supply driven rally
    • New York, 22 June (Argus) — US selenium prices surged during the latest week amid minimal supplier inventories. Selenium (Se 99.5pc) prices rose to $6.30-7.20/lb from $5.75-6.25/lb a week earlier, maintaining a five-week rally. Traders and distributors raised offers sharply during the l
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    • ANALYSIS | 22 Jun 15:48
    • Global surplus of refined zinc narrows
    • Houston, 22 June (Argus) — The global surplus of refined zinc metal narrowed by 87pc in the first four months of 2016 from the same period a year earlier. The global market for refined zinc was in a surplus of 24,000t in January-April, compared with a surplus of 185,000t in the same per
    • Read more
    • NEWS | 22 Jun 15:42
    • Canada levies steel pipe duties on Japan, China
    • Houston, 22 June (Argus) — The Canada Border Services Agency (CBSA) today levied duties on imports of certain welded large diameter carbon and alloy steel line pipe from China and Japan. The CBSA, in a preliminary determination, levied 96.7pc antidumping duties on all Chinese producers,
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    • NEWS | 22 Jun 15:41
    • Stainless surcharges diverge on nickel, molybdenum
    • Houston, 22 June (Argus) — US stainless steel producers lowered surcharges on 304 stainless steel for July shipment. The decline ended a three month run up in surcharges and reflects weaker nickel prices. North American Stainless (NAS), AK Steel and Allegheny Technologies (ATI) lowered
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    • NEWS | 22 Jun 15:37
    • USITC gives nod to 522pc China steel duties
    • Houston, 22 June (Argus) — The US International Trade Commission (ITC) today determined that imports of cold rolled steel flat products from China and Japan have caused injury to domestic steel producers, paving the way for duties as high as 522pc. The US Commerce Department, in a final
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    • NEWS | 22 Jun 10:45
    • Minmetals signs copper supply deal with KGHM: Update
    • Update adds details on China's copper concentrate imports and domestic market. Beijing, 22 June (Argus) — State-owned Chinese metals and mineral trading company Minmetals has signed a supply agreement for refined copper with Polish copper producer KGHM Polska Miedz. The supply agree
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    • NEWS | 22 Jun 09:29
    • China’s Minmetals Hunan Ferroalloy cuts Mn alloy prices
    • China's Minmetals Hunan Ferroalloy cuts Mn alloy prices Beijing, 22 June (Argus) — Large Chinese private-sector producer Minmetals Hunan Ferroalloys has lowered its offer prices for silico-manganese and ferro-manganese alloys because of falling demand and oversupply. The producer, based
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    • NEWS | 22 Jun 09:12
    • European 3Q FeCr benchmark $0.98/lb, up 19.5pc on 2Q
    • Johannesburg, 22 June (Argus) — The European ferro-chrome benchmark price for the third quarter of 2016 has been set at $0.98/lb, a substantial rise of 19.5pc from the second quarter's level of $0.82/lb. The latest benchmark was announced by Merafe Resources, a 20.5pc partner in the Gle
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    • COMMENTARY | 21 Jun 23:26
    • EU secondary aluminium: Alloy prices mixed
    • Houston, 21 June (Argus) — Secondary aluminium ingot alloys used in automotive applications fell in the latest week as producers cut prices to make sales. DIN 230 ingots fell to 86-89¢/lb this week from 87-90¢/lb a week earlier, while DIN 239 fell to 86-89¢/lb from 87-91¢/lb a week earl
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    • NEWS | 21 Jun 21:41
    • US aluminum scrap: Mill-grade spreads tighten
    • Houston, 21 June (Argus) — Spreads for some post-consumer grades of aluminum scrap purchased by mills tightened this week as supply remained tight amid a small drop in terminal markets. London Metal Exchange cash aluminum settled at $1,623.50/t (73.6¢/lb) Tuesday, up from $1,604/t (72.8
    • Read more
    • COMMENTARY | 21 Jun 20:50
    • Copper: Cathode, scrap fall as demand wanes
    • Houston, 21 June (Argus) — Copper cathode premiums fell in European trade in the latest week, amid weak demand and thin volumes, while remaining flat in Asia. Grade A cathodes traded at $35-45/t in-warehouse Rotterdam in the latest week, down from $45-55/t a week earlier. Cathode premiu
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    • NEWS | 21 Jun 19:43
    • Aleris taps Grovers to head Europe, global markets
    • Houston, 21 June (Argus) — Rolled aluminum producer Aleris has appointed Jack Grovers executive vice president, president of Europe and global markets, effective yesterday. Grovers will oversee the company's European business in addition to its global automotive and aerospace strategies
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    • NEWS | 21 Jun 18:01
    • US Steel plant impacted by explosion
    • Houston, 21 June (Argus) — An explosion at a "critical piece of equipment" took place at US Steel's Edgar Thomson facility in Pennsylvania. The explosion and subsequent fire, which occurred at approximately 7:30pm yesterday in Braddock, Pennsylvania, resulted in no injuries to employee
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    • NEWS | 21 Jun 16:59
    • Corazon find high copper mineralisation
    • London, 21 June (Argus) — Australian mining company Corazon Mining has completed a surface sampling programme at its Mt Gilmore cobalt, copper and gold project and found high grade copper mineralisation. Samples from five significant copper-gold targets found 16.30pc of copper in Gordo
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    • COMMENTARY | 21 Jun 16:53
    • Turkish scrap: Marmara mill buys St. Petersburg cargoes
    • London, 21 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved down $6.80/t to $218.20/t cfr Turkey on the back of three deep-sea cargo purchases today. Two St. Petersburg suppliers joined together to sell 24,000t of HMS 1/2 80:20 at $218/t, 3,000t of
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    • NEWS | 21 Jun 16:37
    • DLA lists three FeCr lots for sale
    • New York, 21 June (Argus) — The US defense department's procurement arm the Defense Logistics Agency (DLA) has offered 1,412 short tons (st) of high carbon and two lots of low carbon ferro-chrome totaling 2,105,100lbs by net weight for sale today. The high carbon ferro-chrome lot contai
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    • NEWS | 21 Jun 16:34
    • Global steel production flat in May
    • London, 21 June (Argus) — World crude steel production declined by 0.1pc year on year in May to 139.15mn t, and was up by 3.2pc compared with production volumes in April, according to World Steel Association figures released today. China, the largest producer of crude steel, recorded 7
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    • ANALYSIS | 21 Jun 15:54
    • Selenium prices rise on limited Chinese shipments
    • London, 21 June (Argus) — Prices for selenium metal have risen after months of relative inactivity, with reduced prompt supply and buying interest in specialised grades lifting the market from its lowest levels in recent years. Resistance to further downward movement from producers has
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    • COMMENTARY | 21 Jun 15:51
    • US minor metals: Silicon flat on tight margins
    • New York, 21 June (Argus) — US silicon metal prices were unchanged during the latest week as suppliers resisted lower offers. Silicon metal (Si 98.5pc) prices were flat at 91-93¢/lb, after falling a week earlier. Spot market trading remained amid abundant near-term consumer stocks. Alum
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    • COMMENTARY | 21 Jun 15:36
    • US minor metals: Cobalt flat amid restocking sales
    • New York, 21 June (Argus) — US high-grade cobalt prices were flat during the latest week amid steady trading among suppliers. High-grade cobalt (Co 99.8pc) prices were unchanged at $10.90-11.25/lb after declining a week earlier. Traders ramped up restocking efforts during the latest wee
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    • NEWS | 21 Jun 15:34
    • Mining company Rio Tinto restructures
    • London, 21 June (Argus) — Global mining company Rio Tinto is making substantial changes to its management and organisation to counteract the loss of revenue caused by falling commodity prices. Deputy chief executive Jean-Sebastien Jacques will take over as chief executive, replacing Sam
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    • NEWS | 21 Jun 14:31
    • Vedanta to set up 1mn t/yr steel plant in India
    • Singapore, 21 June (Argus) — India-focused iron ore producer Vedanta plans to set up a 1mn t/yr steel plant in the eastern state of Jharkhand. Vedanta reached an initial deal with the state government to set up the plant, which will produce pig iron and ductile pipes. Vedanta's steel p
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    • NEWS | 21 Jun 14:29
    • China's June steel sales slowing: Macquarie
    • Singapore, 21 June (Argus) — Chinese steel mills have reported slower sales for domestic and export markets this month, with a decline in profitability also leading to a sharp drop in capacity utilisation for July, according to investment bank Macquarie. Steel inventories have fallen in
    • Read more
    • COMMENTARY | 21 Jun 13:51
    • US minor metals: Selenium rises, bismuth edges down
    • New York, 21 June (Argus) — Selenium prices were again lifted by limited near-term supplies during the past week. But thin trading resulted in traders reducing their offers for bismuth. Antimony Prices for 99.65pc metal held flat at $2.85-3.15/lb, after increasing a week earlier, as l
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    • NEWS | 21 Jun 12:37
    • Europe FeCr: Suppliers push for 14¢/lb rise in 3Q
    • London, 21 June (Argus) — South African ferro-chrome producers are confident they can agree a 14¢/lb rise in third quarter benchmark settlements with consumers in Europe as current negotiations near conclusion. The rise would see the next benchmark up to $0.96/lb after falling 22¢/lb in
    • Read more
    • COMMENTARY | 21 Jun 12:30
    • LME minors: Mo rises 12pc on short covering
    • London, 21 June (Argus) — London Metal Exchange (LME) molybdenum cash price has risen more than 12pc in the past week because of short covering on potential lower supply, bucking a trend in the physical market. Last week Poland-based mining firm KGHM, which controls the Sierra Gorda cop
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    • NEWS | 21 Jun 11:27
    • Wingelina Ni/Co project gets environmental approval
    • Johannesburg, 21 June (Argus) — Perth-based base metals explorer Metals X has received environmental approval for its Wingelina nickel project in Western Australia, subject to a two-week appeal process. Wingelina is a world-class nickeliferous limonite deposit in the Central Musgrave Ra
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    • NEWS | 21 Jun 11:04
    • Bushveld eyes speeding up Mokopane tin project
    • Johannesburg, 21 June (Argus) — Diversified base and minor metals developer Bushveld Minerals has reported encouraging metallurgical results which could see it speed up its plans to mine tin at its Mokopane project in South Africa's Limpopo province. The company said costings are underw
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    • NEWS | 21 Jun 10:57
    • Altona flags maiden reserve at Turkey Creek Cu deposit
    • Johannesburg, 21 June (Argus) — Australian copper explorer Altona Mining has declared a maiden ore reserve at the Turkey Creek deposit which forms part of the Cloncurry project near Mt Isa in Queensland. The company said Turkey Creek has an estimated ore reserve of 11.3mn t grading 0.46
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    • NEWS | 21 Jun 09:23
    • China's Ningxia Tianjing postpones FeSi output restart
    • Beijing, 21 June (Argus) — China's second-largest ferro-silicon alloy producer, state-owned Ningxia Tianjing Metallurgy has cancelled plans to restart production in the next two months because of low prices. The company halted production in late February. It is the largest producer in
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    • NEWS | 20 Jun 21:22
    • US raw steel capacity utilization falls below 75pc
    • Houston, 20 June (Argus) — US raw steel production fell by 1.7pc in the week ended 18 June compared to a week earlier while capacity utilization fell below 75pc for the first time in four weeks. Output in the latest week fell to 1.75mn net tons (1.59mn metric tonnes) from 1.78mn nt a w
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    • COMMENTARY | 20 Jun 20:57
    • US zinc: Premiums flat with brass support
    • Houston, 20 June (Argus) — US zinc premiums were unchanged in the latest week as an absence of brass scrap lent support to zinc, which is increasingly being used to substitute for brass. The US zinc premium was steady at 6.5-7.5¢/lb delivered, where it has remained since late April. Bra
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    • COMMENTARY | 20 Jun 20:17
    • EU zinc: Premiums fall amid slow demand
    • Houston, 20 June (Argus) — Zinc premiums fell amid scant demand in European trade in the latest week. Zinc premiums fell to $120-130/t this week from $130-140/t a week earlier as the market heads into summer holidays and annual plant maintenance outages, Merchants are cautious about
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    • ANALYSIS | 20 Jun 20:06
    • Global copper demand grows faster than output
    • Houston, 20 June (Argus) — Global apparent use of refined copper rose by 7.2pc in the first quarter from a year earlier, mainly due to an estimated 17pc jump in Chinese demand, while output of refined copper grew at a slower pace. World refined copper usage rose to 5.77mn t in the first
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    • NEWS | 20 Jun 18:56
    • Daily aluminum output flat in May
    • Houston, 20 June (Argus) — Daily average reported aluminum production was little changed in May from a year earlier as increases in Asian output were offset by curtailments in North America and Africa. Reported production fell to an average of 155,300t/d in May from 156,100t/d a year ea
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    • NEWS | 20 Jun 18:23
    • Turkish scrap: Market still, ponders China probe effect
    • London, 20 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment remained unchanged at $225/t today on the back of absence of sales, bids and offers in the deep-sea market today. Two Baltic suppliers were understood to have been speaking to a Turkish mill toda
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    • NEWS | 20 Jun 17:13
    • Chile signs Mongolia mining industry cooperation accord
    • Sao Paulo, 20 June (Argus) — Chile has signed a bilateral mining industry cooperation agreement with Mongolia. Under the terms of the agreement officials and organisations from the two countries will share and exchange knowledge and experience related to the mining industry. Cooperatio
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    • NEWS | 20 Jun 16:53
    • Brazil's Samarco iron ore mine could restart in 2016
    • London, 20 June (Argus) — Samarco Mineracao is working to reopen its suspended 25mn t/yr iron ore mine in the Brazilian state of Minas Gerais as soon as is feasible, which could be this year if the necessary government permissions are received in time. The collapse of the Fundao tailing
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    • NEWS | 20 Jun 15:39
    • Lithium Australia consolidates Lake Johnson Li rights
    • Johannesburg, 20 June (Argus) — Lithium Australia and US Masters Holdings has consolidated the Lake Johnson lithium pegmatite field around 440km east of Perth. Lithium Australia will hold lithium rights over three exploration licences that dominate the Lake Johnson pegmatite area with U
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    • NEWS | 20 Jun 14:50
    • Metalicity seals terms to buy Admiral Bay Zn project
    • Johannesburg, 20 June (Argus) — Perth-based previous and base metals explorer Metalicity has finalised commercial negotiations for the acquisition of the Admiral Bay zinc project in Western Australia. The company will wholly own the project by paying around 3.09mn Australian dollars ($2
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    • COMMENTARY | 20 Jun 14:48
    • US ferro-alloys: FeCr flat amid low-volume trading
    • New York, 20 June (Argus) — US high carbon ferro-chrome prices were unchanged over the past week amid steady low-volume demand and gradually rebounding raw material supplies. US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices were flat at 85-88¢/lb for a seventh successive week. Stain
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    • NEWS | 20 Jun 12:46
    • Tsingshan launches stainless steel project in Indonesia
    • Beijing, 20 June (Argus) — China's second-largest stainless steel producer, vertically-integrated private-sector Tsingshan Group has launched the first phase of a project to produce 300-series stainless steels in Indonesia. The first phase will produce up to 1mn t/yr of stainless steel
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    • NEWS | 20 Jun 11:35
    • Traxys and Precon Systems bid for Tata Steel KZN
    • London, 20 June (Argus) — Luxembourg-based metal and minerals trader Traxys Group and India-based engineering firm Precon Systems have each bid to buy troubled South African ferro-chrome producer Tata Steel KZN. Traxys is awaiting court ratification of its takeover bid, while court dire
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    • NEWS | 20 Jun 11:13
    • Platina Resources secures funding for scandium study
    • Johannesburg, 20 June (Argus) — Australian scandium developer Platina Resources has completed a share placement to fund a feasibility study for the Owendale scandium project in central New South Wales. The company aims to complete the study in 2017 and is working on securing offtake agr
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    • NEWS | 20 Jun 10:20
    • China’s Baise Bisheng cuts SiMn alloy output
    • China's Baise Bisheng cuts SiMn alloy output Beijing, 20 June (Argus) — Chinese private-sector producer Baise Bisheng Mining has reduced output of silico-manganese alloy because of high costs and falling demand from steelmakers. Baise Bisheng Mining, which is based in the southern provin
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    • NEWS | 20 Jun 09:07
    • India's Maharashtra state to auction 8 mineral blocks
    • Mumbai, 20 June (Argus) — India's western state of Maharashtra has invited bids for the auction of eight mineral blocks containing manganese ore, iron ore, tungsten, bauxite, copper and limestone. The state plans to auction the Humdara-Ghodpaiwadi-Bauxite, Nanar-Bauxite, Agargaon-Tungst
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    • ANALYSIS | 17 Jun 22:08
    • This Week in Metals: 13-17 June
    • Houston, 17 June (Argus) — Markets were rattled this week as the latest polls showed a widening majority of likely UK voters favored an exit from the EU at next week's referendum. Equities slumped in the US, Asia and Europe through most of the week while bonds strengthened, sending Germ
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    • COMMENTARY | 17 Jun 21:22
    • US metcoal: Prices rise on supply fears
    • New York, 17 June (Argus) — Prices of US coking coal for export rose this week as fears of dwindling supply pushed European buyers to pick up orders for the third quarter. Prices for US coking coal for delivery in prompt quarter fob Hampton Roads increased across all Argus assessed c
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    • NEWS | 17 Jun 20:42
    • Essar Steel Algoma agrees on sale to KPS-led group
    • Houston, 17 June (Argus) — Indian-owned Essar Steel Algoma has entered into an agreement to sell its assets to a consortium comprised of private equity firm KPS Capital (KPS) and its "prepetition term lenders". The agreed sale is scheduled to close by 31 August pending approval from th
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    • COMMENTARY | 17 Jun 20:21
    • US stainless: 316 scrap solids rise
    • Houston, 17 June (Argus) — Stainless steel 316 scrap solids prices rose in the latest week, amid tight supply and gains in nickel and molybdenum oxide prices. Argus assessed 316 scrap solids at $1,300-1,340/gt, up from $1,265-1,300/gt a week earlier. Most processors paid higher rates
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    • COMMENTARY | 17 Jun 20:15
    • Turkish scrap: Market stalls on news of China probe
    • London, 17 June (Argus) — There have been no deep-sea scrap offers made today to Turkish mills today, with some Turkish mills looking for short-sea cargoes and others for billet. A verbal agreement made by a Chinese billet supplier and an Iskenderun steel mill yesterday evening was canc
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    • COMMENTARY | 17 Jun 19:51
    • Aluminum scrap: Zorba falls in China
    • Houston, 17 June (Argus) — US export zorba prices fell in China trade in the latest week while most other aluminum scrap traded flat even as exchange prices ended higher. Zorba, 94pc metallic with 3-4pc red metal content, fell to 60-63¢/lb from 61-63¢/lb a week earlier. Northern Chinese
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    • COMMENTARY | 17 Jun 19:48
    • Oil futures: Crude snaps four days of falling
    • Houston, 17 June (Argus) — Crude prices rose today as the dollar weakened, snapping four days of declines, but posted a weekly drop because of losses in the earlier sessions. Nymex July light, sweet crude futures settled higher by $1.77/bl to $47.98/bl. Ice August Brent ended $1.98/bl
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    • COMMENTARY | 17 Jun 19:15
    • US secondary aluminum: A380.1 holds, others slip
    • Houston, 17 June (Argus) — A380.1 prices held unchanged this week while other secondary aluminum alloy prices fell due to lower demand. A380.1 remained at 83-85¢/lb after falling for three weeks. Prices for 319.1 alloy decreased to 86-88¢/lb from 86-89¢/lb a week earlier. A360.1 prices
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    • ANALYSIS | 17 Jun 18:53
    • Arbitration rate proposal worries US rail shippers
    • Washington, 17 June (Argus) — Rail shippers are hailing a proposal that would enable them to use arbitration to challenge railroad rates rather than a cumbersome regulatory process. But they object to the Surface Transportation Board's (STB) thinking that arbitration should be limited o
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    • NEWS | 17 Jun 18:38
    • WEEK IN REVIEW: Markets rattled
    • London, 17 June (Argus) — Markets were rattled in the latest week as the latest polls showed a widening majority of likely UK voters favoured an exit from the EU at next week's referendum. Equities slumped in the US, Asia and Europe through most of the week while bonds strengthened, sen
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    • NEWS | 17 Jun 18:10
    • China's exporters probe likely to boost billet prices
    • London, 17 June (Argus) — The investigations launched by the Chinese taxation administration into export value added tax rebates claimed by producers for exported alloyed steel bar, and into its specifications, are likely to support prices and even stoke increases, traders told Argus t
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    • NEWS | 17 Jun 17:02
    • Sierra Gorda mine under new stewardship
    • Sao Paulo, 17 June (Argus) — The Sierra Gorda copper-molybdenum mine in Chile has been placed under new leadership, Poland-based mining firm KGHM, which controls the project said. The Sierra Gorda project has been beset by delays and falling copper prices. Last month KGHM said low metal
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    • COMMENTARY | 17 Jun 16:52
    • LME zinc drops below $2,000/t, nickel higher
    • London, 17 June (Argus) — The possibility of Britain voting to leave the European Union and the consequent volatility in the currency and equity markets spilled into base metals trading this week, causing more choppiness than usual. London Metal Exchange (LME) zinc fell below $2,000/t
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    • COMMENTARY | 17 Jun 16:50
    • LME copper, aluminium higher after volatile week
    • London, 17 June (Argus) — London Metal Exchange (LME) copper and aluminium traded higher during a volatile week dominated by Brexit fears and currency fluctuations. Three-month copper traded at $4,568/t, up from $4,519/t. Volumes spiked to over 36,000 lots midweek after the Chinese Sta
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    • NEWS | 17 Jun 15:09
    • CMC takes impairment charge from Australia facility
    • Houston, 17 June (Argus) — US-based Commercial Metals (CMC) expects to take a $14mn-$16mn impairment charge in its third quarter earnings as a result of the sale of its steel distribution facility in Australia. CMC today said it has signed an asset sale agreement on a facility that dist
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    • COMMENTARY | 17 Jun 14:14
    • US ferro-alloys: Mn alloys flat amid quiet market
    • New York, 17 June (Argus) — Prices for US high carbon ferro-manganese were unchanged during the latest week as rising offshore trading offset minimal domestic spot market demand. High carbon ferro-manganese (Mn 80pc, C 6-8pc) prices were flat at $810-860/gt for a third week. US traders
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    • NEWS | 17 Jun 11:03
    • Chinese manganese ore port stocks top 2mn t
    • Beijing, 17 June (Argus) — Manganese ore stocks at China's main ports totalled 2.17mn t today, up by 29pc from 1.68mn t on 27 May. There are 1.9mn t of manganese ore stocks at Tianjin port, 230,000t in Qinzhou port, 16,000t in Fangcheng port, 7,500t in Beihai port, 6,000t in Zhanjiang p
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    • NEWS | 17 Jun 10:56
    • China's CNIA calls for antimony national stockpile
    • Beijing, 17 June (Argus) — The antimony section of China's non-ferrous metals industry association the CNIA is intensifying lobbying efforts for a national stockpile for the metal. A group of large Chinese antimony producers gathered in Changsha, Hunan province, at a meeting organised b
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    • NEWS | 17 Jun 08:52
    • China Songtao Sanhe to complete Mn expansion in August
    • Beijing, 17 June (Argus) — Chinese private-sector manganese producer Songtao Sanhe Manganese plans to complete the first phase of its production expansion in August. The producer, based in Songtao county in China's southern Guizhou province, halted its 50,000 t/yr production line last
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    • NEWS | 17 Jun 08:39
    • EU agrees new rules for conflict minerals
    • Brussels, 17 June (Argus) — Negotiators for the European Parliament, EU member states and the European Commission have reached a preliminary "political" agreement on new binding rules for companies that have sourced tin, tungsten, tantalum and gold from conflict zones since 31 January 20
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    • NEWS | 16 Jun 22:33
    • US aluminum scrap: Secondary grades fall
    • Houston, 16 June (Argus) — Most secondary smelter-grade aluminum scrap prices were down Thursday from a week earlier on the effects of falling aluminum alloy prices. Although demand for secondary scrap is steady, consumers have not bid aggressively in attempts to keep scrap inventories
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    • NEWS | 16 Jun 20:58
    • US delays probe on steel from China, Korea
    • Houston, 16 June (Argus) — The US Commerce Department has postponed preliminary determinations in countervailing duty investigations into imports of cut-to-length carbon quality steel plate products from South Korea and China. The Commerce Department elected to postpone preliminary det
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    • COMMENTARY | 16 Jun 19:41
    • Oil futures: Crude falls for fourth day
    • Houston, 16 June (Argus) — Crude prices fell for a fourth day amid rising supplies, ongoing economic growth uncertainty and the UK's potential exit from the EU. Nymex July light, sweet crude futures settled lower by $1.80/bl to $46.21/bl. Ice August Brent ended $1.78/bl lower at $47.19/
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    • NEWS | 16 Jun 19:13
    • US retains Chinese Mg duties for five years
    • New York, 16 June (Argus) — The US International Trade Commission (USITC) voted today to maintain antidumping duties against imports of Chinese magnesium for an additional five years. Five out of six commissioners voted in favor of retaining duties during the second five-year review of
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    • COMMENTARY | 16 Jun 18:58
    • US ferro-alloys: Imports offset FeTi demand
    • New York, 16 June (Argus) — US ferro-titanium prices were flat during the latest week as competitive offers offset steady demand. US ferro-titanium (Ti 70pc) prices were unchanged at $1.70-1.80/lb for a second week. Steel mills rejected a push by suppliers to increase prices by 5-10¢/lb
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    • NEWS | 16 Jun 17:57
    • US aluminum service center shipments fall
    • Houston, 16 June (Argus) — US service center shipments of aluminum products were down by 2.8pc in May from a year earlier while months' supply of inventories was unchanged at 3 months. Shipments totaled 127,700net tons (114,285 metric tonnes) in May, a decrease from 131,400nt the same m
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    • NEWS | 16 Jun 17:46
    • Alcoa expands Virginia titanium facility
    • Houston, 16 June (Argus) — Primary aluminum producer Alcoa plans to spend more than $8mn to expand aerospace forging capabilities at its Alcoa Titanium and Engineered Products plant in Martinsville, Virginia. The investment, which is expected to be complete before the end of the year, w
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    • COMMENTARY | 16 Jun 17:26
    • CIS pig iron: Pick up in sales supports prices
    • London, 16 June (Argus) — Prices of Russian and Ukrainian basic pig iron (BPI) have stabilised, supported by constrained supply from Ukraine, albeit with overall demand remaining low, amid a slight increase in purchasing activity over the past two weeks. The latest confirmed deals have
    • Read more
    • COMMENTARY | 16 Jun 17:23
    • Turkish scrap: Market pauses after flurry of deals
    • London, 16 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment remains unchanged today at $225/t cfr Turkey, on the back of the latest bid and offer indications in the market. No deep-sea offers were confirmed in the market today. Deep-sea scrap suppliers no
    • Read more
    • COMMENTARY | 16 Jun 17:20
    • Stainless steel: Scrap flat in Europe, Asia
    • Houston, 16 June (Argus) — Stainless steel scrap solids were unchanged in European and Asian trading in the latest week amid thin trade as exchange nickel prices declined. Stainless steel scrap in Rotterdam and Germany remained flat at 47-48¢/lb for 304 (18-8) material while 316 scrap t
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    • NEWS | 16 Jun 17:08
    • Gulf Chemical, Bear Metallurgical file for bankruptcy
    • New York, 16 June (Argus) — US-based ferro-vanadium and ferro-molybdenum toll converter Gulf Chemical and Metallurgical and its subsidiary Bear Metallurgical filed for bankruptcy protection this week. Gulf Chemical filed for Chapter 11 protection on 14 June in the US Bankruptcy Court fo
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    • NEWS | 16 Jun 16:30
    • China claims limited success tackling illegal RE mining
    • London, 16 June (Argus) — Over 230 illegal rare earth mines were shut down in September 2014 to May 2015 with penalties ranging from fines to prison sentences, Chinese chamber of commerce rare earths and steel industry manager Feng Yunguang said at the 2016 Argus Americas Rare Earths Sum
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    • NEWS | 16 Jun 15:38
    • New England to get new bulk scrap exporter
    • Houston, 16 June (Argus) — Massachusetts-based Xcel Recycling is opening two facilities located in Freetown and New Bedford in a bid to process more scrap and enter the bulk export market. The Freetown facility was recently approved for an air permit for a 1500-2500 horsepower shredder
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    • NEWS | 16 Jun 15:27
    • Canada steel service center shipments fall in May
    • Houston, 16 June (Argus) — Canadian service center shipments of steel products excluding structural products fell by 2.1pc in May from a year earlier, while months' supply of inventory fell to 3 months from 3.9 months. Service center steel shipments decreased to 388,600net tons (352,531
    • Read more
    • NEWS | 16 Jun 15:26
    • VW aims to become electric vehicle market leader
    • London, 16 June (Argus) — German car manufacturer Volkswagen has announced plans to boost investment in electric vehicle technology, with the aim of becoming the market leader. The company is targeting a 20-25pc share of total annual sales for pure electric vehicles by 2025, chief exec
    • Read more
    • NEWS | 16 Jun 14:41
    • China turns to applying steel, coal capacity cuts
    • Singapore, 16 June (Argus) — Beijing has largely wrapped up the policy-making phase of resolving overcapacity in the steel and coal sectors, with the focus now shifting on implementing the policy measures. The added urgency to implement the capacity cuts, especially in the steel sector,
    • Read more
    • COMMENTARY | 16 Jun 14:17
    • US ferro-alloys: FeTi stabilizes, FeMo, FeV unchanged
    • New York, 16 June (Argus) — US ferro-molybdenum and ferro-vanadium prices stabilized amid limited steel mill demand during the latest week. Bulk alloys, ferro-chrome, ferro-silicon, and ferro-manganese were flat. FeCr US high carbon ferro-chrome (Cr 60pc C 6-8pc) prices were unchanged
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    • NEWS | 16 Jun 12:29
    • Xia city Mg refineries halted for environmental checks
    • Beijing, 16 June (Argus) — Municipal authorities in Xia county, Shanxi province, have ordered three private-sector magnesium producers to halt production for environmental inspections. The three producers — Xiaxian Guangju Magnesium, Xiaxian Pengjin Magnesium and Shanxi Jinxing Magnesi
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    • NEWS | 16 Jun 11:51
    • India to sign ISA contract for deep sea PMS exploration
    • Mumbai, 16 June (Argus) — India plans to sign a 15-year agreement with the International Seabed Authority (ISA) for exploration for poly-metallic sulphides (PMS) containing iron, copper, cobalt, zinc, silver, gold, platinum and manganese in a 10,000 square kilometre area in the Indian Oc
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    • NEWS | 16 Jun 11:51
    • India to sign ISA contract for deep-sea PMS exploration
    • Mumbai, 16 June (Argus) — India plans to sign a 15-year agreement with the International Seabed Authority (ISA) for exploration for poly-metallic sulphides (PMS) containing iron, copper, cobalt, zinc, silver, gold, platinum and manganese in a 10,000 square kilometre area in the Indian Oc
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    • NEWS | 16 Jun 11:21
    • India’s MMPL plan to increase FeCr capacity
    • India's MMPL plan to increase FeCr capacity Mumbai, 16 June (Argus) — Indian private-sector mining firm and alloy producer Misrillal Mines (MMPL) plans to expand its ferro-chrome alloy capacity to 60,000 t/yr from 15,000 t/yr currently. MMPL plans to establish four 9 mega volt ampere (M
    • Read more
    • NEWS | 16 Jun 10:56
    • Ferbasa ferro-alloys output down a third in May
    • Sao Paulo, 16 June (Argus) — Leading Brazilian ferro-chrome producer Ferbasa said ferro-alloys production fell 31.4pc in May from a year earlier to 17,743t as the company continues to adapt to a new power deal with northeast regional utility Chesf. Ferro-alloy sales rose 62.6pc to 23,40
    • Read more
    • NEWS | 16 Jun 10:51
    • China chrome ore port stocks rise
    • Beijing, 16 June (Argus) — Chrome ore stocks at China's ports have increased to 1.44mn t, up by 59,000t from 1.38mn t on 3 June. Stocks at Zhangjiagang port have increased by 30,000t from 3 June to 160,000t, while stocks at Lianyungang port total 330,000t, down by 20,000t. Tianjin port
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    • NEWS | 16 Jun 10:41
    • Brazil nickel miner faces liquidation
    • Sao Paulo, 16 June (Argus) — Creditors of Australia's Mirabela Nickel, which produced nickel and cobalt at the Santa Rita mine in Brazil's northeast Bahia state, have voted to liquidate the company's assets after administrators failed to agree terms for a buyout with the company's noteho
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    • NEWS | 16 Jun 10:35
    • Strandline ups heavy minerals exploration in Tanzania
    • Johannesburg, 16 June (Argus) — Australian heavy minerals explorer Strandline Resources is extending its exploration focus in Tanzania through a six month drilling programme aimed at growing its high-grade resources and finding additional discoveries. The company has an indicated resour
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    • NEWS | 16 Jun 10:34
    • Corazon secures 80pc right for Co/Cu/Au project
    • Johannesburg, 16 June (Argus) — Australian resources developer Corazon Mining has secured the right to earn up to 80pc in the Mount Gilmore cobalt-copper-gold project near Grafton in New South Wales. The project includes the Cobalt Ridge prospect which is an advanced high-grade cobalt p
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    • NEWS | 15 Jun 22:11
    • China targets 100-300 ‘zombie’ steel mills
    • China targets 100-300 ‘zombie' steel mills Singapore, 15 June (Argus) — At least 100 steel producers in China have been classified by the country's state council as ‘zombie' mills that should be shut down to reduce overcapacity. The state council, effectively China's cabinet, has publis
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    • NEWS | 15 Jun 21:59
    • China aluminium producers look to support prices
    • Washington, 15 June (Argus) — A group of large Chinese aluminium producers met this week to come up with a plan to address oversupply of the metal and support falling prices, although details of their agreement remain vague. Chinese oversupply has played a major role in the depressed g
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    • NEWS | 15 Jun 21:58
    • Niocorp agrees to 25pc offtake agreement with CMC
    • New York, 15 June (Argus) — US-based niobium mine developer NioCorp signed a sales agreement today with CMC Cometals to provide up to 25pc of the ferro-niobium production from the company's Elk Creek mine. CMC has agreed to purchase up to a maximum 1,875t of ferro-niobium, or 25pc of pl
    • Read more
    • COMMENTARY | 15 Jun 21:19
    • US aluminum scrap: UBC spreads narrow
    • Houston, 15 June (Argus) — Used aluminum beverage can spreads narrowed Wednesday as some consumers increased purchase prices more rapidly than the US midwest transaction price for primary aluminum. Consumers purchased UBCs at approximately 78-79pc of the Argus midwest transaction price,
    • Read more
    • COMMENTARY | 15 Jun 21:17
    • US copper scrap: Bare bright spreads tighten
    • Houston, 15 June (Argus) — No. 1 bare bright scrap price spreads rose in US trading this week as flows into scrap yards remained weak and margins were tight. Consumer buying price spreads for No. 1 bare bright were at 2¢/lb over July Comex to level July Comex Wednesday, from 2¢/lb over
    • Read more
    • COMMENTARY | 15 Jun 21:15
    • US copper: Cathode premiums mostly flat
    • Houston, 15 June (Argus) — US copper cathode premiums were mostly unchanged in the latest week amid tight scrap supply that has kept cathode price averages flat this month despite abundant supply. Cathode grade A premiums were at 6-6.5¢/lb delivered Midwest Wednesday, compared with 5.7
    • Read more
    • NEWS | 15 Jun 21:13
    • US aluminum: Premium slips on discounts
    • Houston, 15 June (Argus) — The midwest premium for primary aluminum decreased this week amid discounted spot material and a diminishing contango. The premium decreased to 7.25-7.5¢/lb from 7.5-7.75¢/lb a week earlier. The 10-day average contango between cash and three month aluminum co
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    • NEWS | 15 Jun 19:58
    • US lead demand flat as output rises
    • Houston, 15 June (Argus) — US apparent consumption of lead was flat in the first quarter from a year earlier while secondary refinery output edged up and imports slipped. Apparent consumption rose to 389,000t in the first three months of this year, up by 1,000t from a year earlier, acco
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    • NEWS | 15 Jun 19:47
    • US steel service center stocks, shipments fall in May
    • Houston, 15 June (Argus) — US service center shipments of steel products fell by 2.3pc in May from a year earlier as inventory tonnage continued its eight-month slide. Service center steel shipments totaled 3.2mn net tons (2.9mn metric tonnes) in May, compared with 3.27mn nt a year ear
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    • COMMENTARY | 15 Jun 19:42
    • Oil futures: Crude falls on Fed outlook, UK vote
    • Houston, 15 June (Argus) — Crude futures fell for a third day amid subdued economic growth projections from the US Federal Reserve and uncertainty over the UK's potential exit from the EU. Nymex July light, sweet crude futures settled lower by 48¢/bl to $48.01/bl. Ice August Brent ended
    • Read more
    • NEWS | 15 Jun 17:44
    • HKEx to bring a metal trading platform to China
    • Beijing, 15 June (Argus) — Hong Kong Exchanges and Clearing (HKEx) will set up a new spot trading platform for metals in the Qianhai district of China's southern coastal city of Shenzhen. The platform is part of a programme by HKEx, in which the Hong Kong government has majority ownersh
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    • NEWS | 15 Jun 17:41
    • Zinc market surplus shrinks in April
    • London, 15 June (Argus) — The surplus in the global zinc market has shrunk to 24,000t in April from 42,000t in March, showing that zinc is on track to move into a deficit this year, data published by the International Lead and Zinc Study Group showed. The group said earlier it expects
    • Read more
    • COMMENTARY | 15 Jun 17:35
    • US minor metals: Selenium gains, indium flat
    • New York, 15 June (Argus) — US selenium prices rose for a fourth straight week amid limited near-term supplies. Selenium (Se 99.5pc) prices increased to $5.75-6.25/lb from $5.30-6.00/lb a week earlier, continuing to rebound from recent lows in late February. Near-term supplies of the me
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    • COMMENTARY | 15 Jun 17:34
    • Aluminium: Premiums fall in European trade
    • Houston, 15 June (Argus) — Primary aluminium premiums fell in European trade in the latest week amid slow demand and an uptick in exchange prices. The premium for P1020 duty unpaid aluminium fell to $60-70/t in-warehouse Rotterdam from $65-75/t, while duty paid premiums fell to $110-125
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    • COMMENTARY | 15 Jun 17:32
    • Turkish scrap: Deep-sea sales find equilibrium
    • London, 15 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has shed $5/t to settle at $225/t cfr Turkey today, on the back of the assessment of two deep-sea deals concluded Tuesday evening. A Baltic supplier sold 30,000t of HMS 1/2 80:20 at $225/t, 5,000t
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    • NEWS | 15 Jun 16:45
    • Colombia nickel workers accept offer, avert strike
    • Bogota, 15 June (Argus) — Unionized workers at Colombian nickel mine Cerro Matoso accepted the company's three-year contract offer, cancelling plans to launch a strike at midnight. Cerro Matoso, controlled by Australian resources firm South32, said the agreement will allow the company t
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    • NEWS | 15 Jun 16:22
    • Nucor sees steel prices rising on duties, low stocks
    • Houston, 15 June (Argus) — Nucor expects to ship more steel at higher prices in the second and third quarters of 2016, as it anticipates final steel import duties to be higher than the announced preliminary duties. It also expects low service center inventories to help boost prices. Th
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    • NEWS | 15 Jun 15:53
    • US apparent zinc consumption, output fall
    • Houston, 15 June (Argus) — US apparent consumption of refined zinc fell by 23pc in the first quarter of 2016 from a year earlier, as US refined zinc output fell by nearly half, exports surged nearly tenfold and imports declined by about 4pc. Apparent consumption fell to 159,000t in the
    • Read more
    • NEWS | 15 Jun 15:51
    • New Millennium Iron trims costs in tough market
    • London, 15 June (Argus) — Canadian iron ore explorer New Millennium Iron has reduced its workforce by 60pc with immediate effect and will close offices in Newfoundland and Quebec by the end of September. The company is implementing a number of cost-cutting measures in response to chall
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    • NEWS | 15 Jun 15:36
    • Spain tungsten mine commissioning planned for late 2017
    • Sao Paulo, 15 June (Argus) — Commissioning of the Barruecopardo tungsten mine in Spain has been rescheduled for late 2017, minority partner Ormonde Mining said. Commissioning was planned for the end of this year but was delayed by legal proceedings related to the compulsory acquisition
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    • NEWS | 15 Jun 14:54
    • US factory output falls in May, utilities down
    • Houston, 15 June (Argus) — US manufacturing fell by 0.4pc in May, led by a 4.2pc decline in the output of motor vehicles and parts. The decline in manufacturing was the second drop in three months, US Federal Reserve data showed today. Utility output fell by 1pc and mining was up 0.2pc.
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    • NEWS | 15 Jun 11:17
    • China’s Henan Dowell launches magnesium alloy project
    • China's Henan Dowell launches magnesium alloy project Beijing, 15 June (Argus) — Chinese private-sector NEEQ-listed Henan Dowell Technology has launched construction of a new project to produce 100mn t/yr of magnesium alloy vehicle wheel hubs. The company is based in Changge city in Hen
    • Read more
    • NEWS | 15 Jun 10:12
    • Redstone flags maiden Cu resource at Tollu project
    • Johannesburg, 15 June (Argus) — Perth-based Redstone Resources has confirmed a maiden copper resource at its Tollu project in Western Australia and believes further drilling could increase the size of the resource. The company has identified a resource of 3.8mn t grading 1pc copper for
    • Read more
    • NEWS | 15 Jun 10:07
    • Ferrum on track to exercise Spanish Pb/Zn option
    • Johannesburg, 15 June (Argus) — Base metals developer Ferrum Crescent is confident that it will be able to exercise its option over GoldQuest Iberica by a deadline of 31 July, giving it access to two promising lead-zinc projects in northern Spain. The Sydney, Johannesburg and London lis
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    • NEWS | 15 Jun 10:03
    • China's Fengyu cuts SiMn output amid falling prices
    • Beijing, 15 June (Argus) — Chinese private-sector producer Fengyu has reduced its silico-manganese alloy output as a result of falling prices and losses. Fengyu, which is based in Inner Mongolia, has slashed output of silico-manganese alloy to 5,500 t/month from 30,000 t/month in respon
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    • NEWS | 15 Jun 09:08
    • China aluminium refineries plan commercial stockpile
    • Beijing, 15 June (Argus) — A group of large Chinese aluminium refiners is progressing plans to establish a commercial stockpile for the metal. The six companies, which contribute nearly half of China's aluminum production, are Chinalco, State Power Investment, Shandong Weiqiao, Yunnan
    • Read more
    • NEWS | 15 Jun 09:08
    • China aluminium refiners plan commercial stockpile
    • Beijing, 15 June (Argus) — A group of large Chinese aluminium refiners is progressing plans to establish a commercial stockpile for the metal. The six companies, which contribute nearly half of China's aluminum production, are Chinalco, State Power Investment, Shandong Weiqiao, Yunnan
    • Read more
    • COMMENTARY | 14 Jun 21:57
    • US aluminum scrap: Mill-grade spreads widen
    • Houston, 14 June (Argus) — Mill-grade aluminum scrap spreads widened for most grades on Tuesday as consumers and dealers were skeptical about the longevity of a nearly 3¢/lb jump in London Metal Exchange prices from a week earlier. LME cash aluminum settled at $1,604/t (72.8¢/lb) Tuesda
    • Read more
    • COMMENTARY | 14 Jun 20:58
    • US minor metals: Oversupply pushes silicon prices down
    • New York, 14 June (Argus) — US silicon metal prices edged down during the latest week as near-term supply outpaced small-volume demand. Silicon metal (Si 98.5pc) prices declined to 91-93¢/lb from 92-94¢/lb a week earlier. Overall spot market volumes remained little changed from recent w
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    • NEWS | 14 Jun 20:44
    • Valbruna hails Viraj stainless steel ruling
    • New York, 14 June (Argus) — Italy-based stainless steel producer Valbruna applauded a recent US International Trade Commission (USITC) determination barring India-based Viraj Profiles from importing stainless steel into the US using trade secrets allegedly taken from Valbruna. An origin
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    • COMMENTARY | 14 Jun 20:23
    • Copper: Premiums flat in quiet Europe, Asia trade
    • Houston, 14 June (Argus) — Copper cathodes premiums remained unchanged in the latest week amid slow trade and minimal market movement. Grade A cathodes traded at $45-55/t in-warehouse Rotterdam for a fourth week, while off-grade cathodes continued to trade at $10-20 in the latest week.
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    • NEWS | 14 Jun 20:08
    • JSW seeks Supreme Court review of an antitrust ruling
    • Houston, 14 June (Argus) — JSW Steel USA, the US unit of Indian steelmaker JSW Steel, has asked the US Supreme Court to review a decision made by a lower court that it had violated antitrust laws under the Sherman Act. MM Steel, a Texas-based steel distributor, originally filed a lawsui
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    • COMMENTARY | 14 Jun 19:41
    • Oil futures: Crude falls as Iran's output rises
    • Houston, 14 June (Argus) — Crude prices fell for a second day today as Iran said its oil exports have more than doubled since sanctions were lifted in January. Nymex July light, sweet crude futures settled lower by 39¢/bl to $48.49/bl, after ending above the $50/bl mark for the first t
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    • COMMENTARY | 14 Jun 18:14
    • Turkish scrap: UK supplier sells prompt to Marmara
    • London, 14 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment remains unchanged today at $230/t cfr Turkey on the back of the latest market indications. A UK seller sold a 30,000t consignment of HMS 1/2 80:20 at $226.50/t and 10,000t of bonus at $236.50/t cfr
    • Read more
    • ANALYSIS | 14 Jun 17:42
    • Low European stocks create antimony prices spikes
    • London, 14 June (Argus) — Spot antimony prices in Europe have increased on tight availability of prompt material and a failure to build stocks could cause another price spike as consumers return to the market in late August-early September. With a public holiday in China last week and a
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    • NEWS | 14 Jun 16:52
    • Big River Steel to purchase HBI from Voestalpine
    • Houston, 14 June (Argus) — Arkansas-based Big River Steel has agreed to purchase hot-briquetted iron (HBI) from Voestalpine's Texas direct reduction plant under a four-year supply agreement. Voestalpine's Texas HBI plant, scheduled to be operational by the end of the third quarter, wil
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    • NEWS | 14 Jun 16:41
    • Azerbaijan ferro-alloys JV to start output in 2017
    • London, 14 June (Argus) — Azeri metals producer Baku Non-Ferrous Metals and Ferro Alloys and Turkish steel maker Demora are set to start production in 2017, earlier than expected, the economy ministry said. The companies signed an agreement to build a ferro-alloy plant in Sumgayit, Aze
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    • NEWS | 14 Jun 16:12
    • Ukraine's Metinvest to begin shipping CRC to US
    • Riga, 14 June (Argus) — Ukrainian steelmaker Metinvest will start cold-rolled coil (CRC) shipments to the US, having received the necessary certification, with a number of orders already in place. The company's Ilyich steelworks supplied a trial consignment of CRC to the US last year, w
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    • NEWS | 14 Jun 15:46
    • US maintains dumping duties on Chinese copper pipe
    • Houston, 14 June (Argus) — The US Commerce Department has decided to sustain antidumping duty orders on imports of seamless refined copper pipe and tube from China and Mexico following a five-year "sunset review" of the duties. The Commerce Department found that revoking the antidumping
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    • COMMENTARY | 14 Jun 15:37
    • US minor metals: Cobalt falls amid quiet spot market
    • New York, 14 June (Argus) — US high-grade cobalt prices declined during the latest week amid thin spot market trading. High-grade cobalt (Co 99.8pc) prices edged down to $10.90-11.25/lb from $11.00-11.50/lb a week earlier. Cobalt alloy producers have avoided spot market inquiries during
    • Read more
    • NEWS | 14 Jun 15:07
    • Noranda Aluminum finds first flat-rolled bidder
    • Houston, 14 June (Argus) — Swedish aluminum sheet producer Gränges has agreed to be the stalking horse bidder for Noranda Aluminum's flat-rolled business in a deal that values the assets at $302.5mn. The agreement with Gränges sets the minimum price that the flat-rolled assets will be s
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    • COMMENTARY | 14 Jun 13:42
    • US Minor Metals: Antimony, selenium surge, cobalt falls
    • New York, 14 June (Argus) — Limited supplies drove antimony and selenium prices higher during the past week. Waning spot enquiries for cobalt resulted in traders reducing their offers, while indium, bismuth, and tellurium were flat amid low-volume demand. Antimony Prices for 99.65pc
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    • NEWS | 14 Jun 12:26
    • Judge dismisses $5.7bn civil lawsuit against Samarco
    • London, 14 June (Argus) — A federal judge in Rio de Janeiro has dismissed a 20bn reals ($5.7bn) lawsuit against Brazilian iron ore mining firm Samarco Mineracao, brought by Brazil's National Humanitarian Society (Sonhuma) relating to the collapse of Samarco's Fundao tailings dam in Maria
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    • NEWS | 14 Jun 12:16
    • Plymouth enters agreement on Li/Sn/W project in Spain
    • Johannesburg, 14 June (Argus) — Perth-based Plymouth Minerals has entered into an agreement with Volariza Mineria SLU to evaluate and potentially develop the advanced San Jose lithium-tin-tungsten deposit in Spain. The project area is 200km south of Plymouth's 80pc-owned Morille tin-tun
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    • NEWS | 14 Jun 11:28
    • India's MMTC tenders to export Cr concentrate
    • Mumbai, 14 June (Argus) — Indian state-owned trading company MMTC is holding an export tender for 35,000t of 50-48pc chrome ore concentrate for shipment on 20-31 July. The closing date for bids is 4 July. MMTC recently cancelled an export tender for 40,000t of 50-48pc chrome ore conc
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    • NEWS | 14 Jun 11:00
    • India’s TS Alloys to restart furnace 2 at FeCr plant
    • India's TS Alloys to restart furnace 2 at FeCr plant Mumbai, 14 June (Argus) — Indian private-sector integrated steelmaker Tata Steel's subsidiary TS Alloys plans to resume full production at its 52,000 t/yr ferro-chrome alloy plant in Cuttack, Odisha by July. TS Alloy was forced to halt
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    • NEWS | 14 Jun 10:40
    • Brazil vanadium mine reaches 9,600t/yr output target
    • Sao Paulo, 14 June (Argus) — Canada's Largo Resources has said it has effectively reached its 9,600t/yr production target at the Maracás Menchen mine in Bahia state, northeast Brazil. In May Largo produced 780t, just 20t short of the 800t/month or 26.5t/d needed to reach the 9,600t/yr m
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    • NEWS | 14 Jun 10:27
    • Tantalex gets first Ta2O5 concentrate from contractor
    • London, 14 June (Argus) — Canadian firm Tantalex Resources said its wholly owned subsidiary, United Materials Congo (UMC) in the Katanga province of Democratic Republic of Congo, has received its first 1,500kg of tantalite concentrate from its sub-contractor. This is the first such deli
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    • NEWS | 14 Jun 10:23
    • Bushveld and IDC to investigate vanadium batteries
    • Johannesburg, 14 June (Argus) — A subsidiary of AIM-listed Bushveld Minerals has entered into an agreement with South Africa's state-owned Industrial Development Corporation (IDC) to examine the viability of vanadium redox flow batteries (VRFB). Bushveld Energy and the IDC have agreed t
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    • NEWS | 14 Jun 10:06
    • Chinese imports of FeNi rise in April as FeCr fall
    • Beijing, 14 June (Argus) — Chinese imports of refined nickel and ferro-nickel alloy rose sharply in April while ferro-chrome and chrome ore imports fell, China import data show. China's refined nickel imports surged by 170.7pc year on year to 47,781t in April, pushing the year-to-date t
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    • NEWS | 13 Jun 23:15
    • US drops Chinese aluminum case reviews
    • Houston, 13 June (Argus) — The Commerce Department has preliminarily rescinded its review of countervailing duties on China Zhongwang Holdings and 123 other companies affected by a 2011 trade decision applying to imported aluminum extrusions from China. "Because there is no evidence on
    • Read more
    • COMMENTARY | 13 Jun 20:26
    • US zinc: Premiums flat in face of rising LME
    • Houston, 13 June (Argus) — US zinc premiums were unchanged in the latest week amid soft demand for physical material even as exchange trading pushed London Metal Exchange cash zinc above 90¢/lb for an eighth day, its highest run all year. The US zinc premium was at 6.5-7.5¢/lb delivered
    • Read more
    • NEWS | 13 Jun 20:15
    • US raw steel output, capacity utilization rise
    • Houston, 13 June (Argus) — US raw steel production rose by 1.1pc in the week ended 11 June compared to a week earlier as capacity utilization reached its highest level in over a year and a half. Output in the latest week rose to 1.78mn net tons (1.61mn metric tonnes) from 1.76mn nt a w
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    • COMMENTARY | 13 Jun 19:49
    • Oil futures: Crude falls on higher supplies
    • Houston, 13 June (Argus) — Crude futures fell on the prospect that continued supply growth may dim the possibility global oil market tightness. Nymex July light, sweet crude futures settled lower by 19¢/bl to $48.88/bl. Ice August Brent also ended 19¢/bl lower at $50.35/bl. The August
    • Read more
    • COMMENTARY | 13 Jun 19:39
    • EU secondary aluminium: Ingot prices fall
    • Houston, 13 June (Argus) — Secondary aluminium ingot prices declined in slow trade in the UK and Germany in the latest week as ingot producers lowered their prices to draw buyers amid weakening sentiment. In the UK, LM 6 ingot fell to $96-1.00¢/lb from $97-1.01¢/lb a week earlier, while
    • Read more
    • NEWS | 13 Jun 18:18
    • Colombia ferro-nickel production up sharply in April
    • Sao Paulo, 13 June (Argus) — Colombia's ferro-nickel exports in April rose 31.4pc against the same month last year to 9,465t, official figures show. Exports were down 6.2pc in the first four months of the year against the same period last year at 41,183t. In 2015 Colombia's ferro-nickel
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    • NEWS | 13 Jun 18:12
    • Chile's molybdenum revenues flat in May
    • Sao Paulo, 13 June (Argus) — Revenues from Chile's molybdenum concentrate exports were flat in May against the same month last year at $9mn according to Central Bank data. But the value of shipments leaving Chilean ports rose 12.5pc compared with April's $8mn. In the first five months
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    • ANALYSIS | 13 Jun 17:02
    • China's non-ferrous growth slows further in May
    • London, 13 June (Argus) — The growth in China's production of non-ferrous metals continued to slow in May, data from the country's national statistics bureau show. Production totalled 4.36mn t in May, an increase of 1pc from the year-ago period. But that growth rate was below the 1.7pc
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    • NEWS | 13 Jun 16:39
    • Ferrous scrap consumption down, DRI use up
    • Houston, 13 June (Argus) — US iron and steel scrap consumption decreased by 4.1pc and DRI demand increased by 37.1pc in the first quarter from a year earlier. Scrap consumption for the quarter dropped to 11.7mn t from 12.2mn t a year earlier, according to the US Geological Survey. DRI
    • Read more
    • NEWS | 13 Jun 16:31
    • Luxembourg backs US firm in asteroid mining
    • London, 13 June (Argus) — The government of Luxembourg is considering direct investment in US-based asteroid mining company Planetary Resources, which picked Luxembourg for its European headquarters. This comes as the Grand Duchy of Luxembourg seeks to become the European hub for explor
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    • NEWS | 13 Jun 16:26
    • Eramet boosts Gabon Mn ore production
    • London, 13 June (Argus) — French mining and metals company Eramet Manganese has boosted annual production of manganese ore by 11pc in 2015, from 2014, at its Comilog operation in Gabon, West Africa. The increase to 3.95mn t set a new record for Eramet manganese ore production and was a
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    • NEWS | 13 Jun 16:18
    • MGX Minerals advances magnesium project
    • London, 13 June (Argus) — Diversified Canadian miner, MGX Minerals, which is quoted on the Canadian stock exchange, has acquired a full-scale pilot plant mill from CMC Metals on a trial basis with an option to purchase. CMC Metals is also based in Canada and listed on the Canadian stock
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    • NEWS | 13 Jun 16:15
    • ZimAlloys considers response against chrome claim
    • London, 13 June (Argus) — ZimAlloys (Zimbabwe Alloys), which controls almost 40pc of Zimbabwe's chrome reserves, is considering its response to an order to cede half of its chrome claims in the country to government for redistribution to new investors or risk having them seized, said an
    • Read more
    • COMMENTARY | 13 Jun 16:07
    • US ferro-alloys: Thin FeCr trade offset by ore prices
    • New York, 13 June (Argus) — US high carbon ferro-chrome prices were flat in the latest week amid relatively limited raw material supplies. US high carbon ferro-chrome (Cr 60pc C 6-8pc) was unchanged at 85-88¢/lb during the latest week. Overall spot market sales volumes remained low, des
    • Read more
    • NEWS | 13 Jun 15:14
    • Johnson Controls to boost AGM battery output
    • Houston, 13 June (Argus) — Diversified US technology manufacturer Johnson Controls is investing $245mn by 2020 to double its absorbent glass mat (AGM) battery capacity in North America and will spend three times that amount globally to boost AGM output. Between 2015-2020 Johnson Control
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    • NEWS | 13 Jun 14:55
    • Steel Dynamics expects higher steel, scrap shipments
    • Houston, 13 June (Argus) — US-based Steel Dynamics expects to ship more steel and ferrous scrap in the second quarter of 2016 than it did in the previous quarter as trade cases reduce steel imports and boost prices. For all of the company's steel operations, average realized steel produ
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    • NEWS | 13 Jun 14:30
    • Liberty looking for bargains beyond Tata
    • London, 13 June (Argus) — Commodities trading firm Liberty House Group, which is one of the companies bidding to buy Tata Steel's flagging UK steel business, is keen to acquire further steel-related assets in other parts of the world, including coking coal mines in Australia. Liberty is
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    • NEWS | 13 Jun 14:06
    • China's daily steel output slows in May
    • Singapore, 13 June (Argus) — China's steel output fell slightly on a t/d basis in May after reaching a high for this year in April, as mills refocused on cutting costs rather than increasing production. Crude steel output was 2.27mn t/d in May, 1.7pc down from 2.31mn t/d in April, the n
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    • NEWS | 13 Jun 13:55
    • Australian Vanadium buys electrolyte pilot plant
    • Sao Paulo, 13 June (Argus) — Australian Vanadium, which is aiming to produce vanadium at the Gabanintha site in Western Australia has purchased an electrolyte pilot plant from UK technology company C-Tech Innovation. The pilot plant is the first of its kind in Australia. It is capable
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    • NEWS | 13 Jun 13:29
    • China rare earth exports rise in May
    • Beijing, 13 June (Argus) — China exported 4,073t of rare earths in May, up by 55.6pc from 2,618t in May 2015, China customs data show. Importers increased purchases last month in response to lower prices, thanks in part to the cancellation of export duty on 1 May 2015 which has enabled
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    • NEWS | 13 Jun 10:31
    • Tharisa increases chrome and PGM output
    • Johannesburg, 13 June (Argus) — Chrome and platinum group metals producer Tharisa increased its output of chrome concentrate by 7.3pc to 604,000t in the six months to 31 March compared with a year earlier. The company said its output of platinum group metals rose 4.5pc to 60,000 ounces (
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    • NEWS | 13 Jun 09:04
    • China's largest ferro-tungsten producer halts furnace
    • Beijing, 13 June (Argus) — China's largest ferro-tungsten alloy producer private-sector Hunan province-based Hunan Chuangda Tungsten and Vanadium has suspended operations at its 8,000 t/yr ferro-tungsten furnace because of falling prices and demand. The production suspension is aimed a
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    • ANALYSIS | 10 Jun 21:31
    • This Week in Metals: 6-10 June
    • Houston, 10 June (Argus) — A stronger dollar and holidays in China were factors in the metal markets this week, along with patches of restocking as the market looks beyond July plant shutdowns to late August and September. A strong dollar is usually a drag on commodity markets, as shown
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    • ANALYSIS | 10 Jun 20:52
    • US scrap: June trade spurs bulk sales to Korea, Turkey
    • Houston, 10 June (Argus) — A lone bulk cargo sale from the US to Turkey this week ended a month-long stalemate between the world's largest importer of scrap and its biggest supplier. The sale was announced shortly after US domestic markets concluded trading for June deliveries at price
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    • COMMENTARY | 10 Jun 20:50
    • US metcoal: Prices mixed on supply concerns
    • New York, 10 June (Argus) — Spot prices of US coking coal for export were mixed this week as an uptick in US steel production helped to tighten supply. Prices for low-volatile coking coal held at $89.10/t for delivery in the next 90 days fob Hampton Roads, Virginia. Meanwhile, prices f
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    • NEWS | 10 Jun 20:37
    • US magnesium imports slide in first quarter
    • New York, 10 June (Argus) — Total US magnesium imports for consumption declined by 4.9pc during the first quarter as fewer metal and alloy imports offset rising scrap imports. Magnesium imports for consumption totaled 11,700t, down from 12,300t a year earlier, according to data from the
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    • NEWS | 10 Jun 20:32
    • US steel mill shipments increase
    • Houston, 10 June (Argus) — d by 4.1pc in April from a year earlier, according to data from the American Iron and Steel Institute. Shipments increased to 7.4mn net tons (6.7mn metric tonnes) in April from 7.1mn nt shipped the same month a year earlier. Shipments were little changed from
    • Read more
    • COMMENTARY | 10 Jun 19:43
    • Oil futures: WTI settles under $50/bl
    • Houston, 10 June (Argus) — Benchmark US WTI futures settled below $50/bl today, sinking from 2016 highs set earlier in the week, amid a stronger dollar and more bearish demand data. Nymex July light, sweet crude futures settled lower from the previous day by $1.49/bl to $49.07/bl. Ice A
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    • NEWS | 10 Jun 18:31
    • WEEK IN REVIEW: Sunny spells, blustery showers
    • London, 10 June (Argus) — Stronger dollar and holidays in China were factors in the metal markets this week, along with patches of restocking as the market looks beyond July plant shutdowns to late August and September. A strong dollar is usually a drag on commodity markets, as shown b
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    • NEWS | 10 Jun 18:13
    • Turkish scrap: Mills buy more European material
    • London, 10 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has fallen by $4.30/t today to $233/t on the back of the assessment of two Europeans deals concluded yesterday evening. A continental European supplier was confirmed to have sold a consignment cont
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    • COMMENTARY | 10 Jun 18:02
    • Secondary aluminum: A380.1, 319.1 alloy prices fall
    • Houston, 10 June (Argus) — A380.1 prices fell this week under pressure from an oversupplied US market that led brokers and producers to lower price offers. A380.1 prices decreased to 83-85¢/lb from 84-85¢/lb a week earlier and 319.1 prices dropped to 86-89¢/lb from 87.5-89.5¢/lb. Low-
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    • COMMENTARY | 10 Jun 17:48
    • Stainless steel: US scrap follows nickel higher
    • Houston, 10 June (Argus) — Stainless steel scrap prices rose in the latest week as nickel exchange prices traded at their highest levels in more than a month. Processor buying prices for 304 (18-8) scrap solids traded at $1,050-1,085/gross ton Friday, up from $1,010–1,045/gt a week earl
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    • COMMENTARY | 10 Jun 16:54
    • Aluminium scrap: Export markets diverge
    • Houston, 10 June (Argus) — US export zorba was unchanged in China trade while other export aluminium scrap prices were mixed in the latest week in a tight range and amid steady demand. Zorba, 94pc metallic with 3-4pc red metal content, remained at 61-63¢/lb cif China, unchanged from a w
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    • NEWS | 10 Jun 16:45
    • Chile May lithium carbonate revenues rise sharply
    • Sao Paulo, 10 June (Argus) — Revenues from Chile's lithium carbonate exports rose 140pc in May to $48mn in the same month of 2015, according to Central Bank data. The figure was 20pc higher than April's $40mn in export revenues. In the first five months of 2016 revenues from lithium ca
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    • NEWS | 10 Jun 16:38
    • Copper prices hit Chile export revenues in May
    • Sao Paulo, 10 June (Argus) — Revenues from Chile's copper concentrate exports fell 14.6pc in May from a year earlier helped by lower prices, according to Central Bank data. Concentrate revenues totalled $969mn in May down from $1.135bn. May's output was up 5pc on April's $923mn in expor
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    • NEWS | 10 Jun 16:31
    • Norilsk Nickel plant shuts pelletising workshop
    • London, 10 June (Argus) — Norilsk Nickel's flagship Nickel plant in Norilsk has idled its pelletising workshop as it shifts production to newer sites. Pelletising has been one of five operational workshops at the plant, and another two – melting and sintering – are due to shut by 1 July
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    • COMMENTARY | 10 Jun 16:17
    • LME copper down on stock increase, aluminium up
    • London, 10 June (Argus) — London Metal Exchange (LME) copper futures declined this week after a large influx of stocks into LME warehouses into Antwerp, Singapore and Busan. Aluminium traded higher on fund buying supported by Chinese export data. Three-month copper futures traded at $4,
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    • COMMENTARY | 10 Jun 15:53
    • US ferro-alloys: SiMn, FeMn flat with mill demand
    • New York, 10 June (Argus) — Prices for US high carbon ferro-manganese were flat during the latest week as firm offshore pricing offset waning domestic spot market demand. High carbon ferro-manganese (Mn 80pc, C 6-8pc) prices were unchanged at $810-860/gt for a second week. Steel mills c
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    • NEWS | 10 Jun 15:08
    • Ukrainian ferro-alloy output rises in April
    • London, 10 June (Argus) — Ukraine's main ferro-alloy producers private-sector Nikopol and Zaporozhye produced a combined total of 89,540t of manganese ferro-alloys and ferro-silicon in April. April production is up by 5pc from 85,250t produced in March and by 14.4pc from the 78,300t pro
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    • COMMENTARY | 10 Jun 14:35
    • LME zinc. nickel, tin trade higher
    • London, 10 June (Argus) — London Metal Exchange (LME) zinc continued to rise this week as speculative investors bought the metal on long-term supply concerns. Tin and nickel also traded higher but lead prices were lower. Three-month zinc prices were above $2,000/t throughout the week,
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    • NEWS | 10 Jun 13:16
    • India's RBSSN plans to raise manganese ore capacity
    • Mumbai, 10 June (Argus) — Indian private-sector mining firm and metal producer RBSSN plans to increase its manganese ore production capacity to 100,000 t/yr from 22,000 t/yr currently. The company's Sadanandapuram manganese ore mine in the southeastern Indian province of Andhra Pradesh
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    • NEWS | 10 Jun 12:56
    • Italian gas-intensive manufacturing climbs in April
    • London, 10 June (Argus) — Italian manufacturing output rose in April, as most gas-intensive sectors increased production. Aggregate seasonally-adjusted manufacturing output edged up by 0.8pc in April, compared with a month earlier. Production of rubber, plastic and other non-metallic
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    • NEWS | 10 Jun 11:56
    • Brazilian foundries continues to struggle
    • Sao Paulo, 10 June (Argus) — Brazilian foundry production fell 19.2pc to 175,046t in April from 216,622t in the same month of 2015, trade association Abifa said. Production was 0.8pc down against March's total of 176,453t. Foundry output in the opening four months of 2016 was down 24pc
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    • NEWS | 10 Jun 11:54
    • Sovereign Gold exercises Nevada lithium option
    • Johannesburg, 10 June (Argus) — Sydney-based Sovereign Gold has exercised its option to acquire a lithium exploration project in the US state of Nevada. The company said it has acquired 111 Clayton Valley Claims under revised terms. These claims mainly focus on brine deposits but also h
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    • NEWS | 10 Jun 11:53
    • Metro Mining to acquire 80pc of Myanmar Cu/VMS project
    • Johannesburg, 10 June (Argus) — Brisbane-based Metro Mining has entered into an agreement to acquire 80pc of the Mahar San copper/VMS project in Myanmar. The project is viewed as highly prospective for copper, gold and base metals within a volcanic massive sulphide setting. Mahar San i
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    • NEWS | 10 Jun 11:48
    • Hedland Mn ore shipments drop in May
    • London, 10 June (Argus) — Manganese ore shipments from Port Hedland in Australia fell almost 10pc to 92,200t in May this year, from 101,432t the previous month, data from the Port Hedland Port Authority said. May shipments were also down from 162,000t year-on-year. All manganese ore shi
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    • COMMENTARY | 10 Jun 11:11
    • Europe FeTi: Two-tier market prevails
    • London, 10 June (Argus) — Ferro-titanium prices in Europe are being pulled in conflicting directions as some producers have stepped back from the market while others are still competing aggressively for consumer business. Some lower transactions have been concluded inter-trade, but a n
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    • NEWS | 09 Jun 21:38
    • Venezuela creates new mining ministry
    • Caracas, 9 June (Argus) — Venezuelan President Nicolas Maduro has created a new ministry for "ecological mining development" as the cash-starved government seeks to establish joint ventures to mine gold and other minerals. Maduro named Roberto Ignacio Mirabal, the CNE electoral authorit
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    • COMMENTARY | 09 Jun 21:34
    • US aluminum scrap: Secondary grades unchanged
    • Houston, 9 June (Argus) — Secondary smelter aluminum scrap grade prices were mostly unchanged this week as market participants have yet to adjust to a sudden increase in London Metal Exchange pricing which occurred on Wednesday. LME cash aluminum prices settled at $1,591.50/t (72¢/lb) T
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    • COMMENTARY | 09 Jun 20:20
    • Stainless steel: Scrap rises in Europe, Asia
    • Houston, 9 June (Argus) — Stainless steel scrap solids rose in European and Asian trade in the latest week on the back of rising nickel exchange prices. Stainless steel scrap in Rotterdam and Germany rose to 47-48¢/lb for 304 (18-8) material from 46-47¢/lb a week earlier. Prices of 316
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    • NEWS | 09 Jun 20:17
    • Novelis taps Ahuja as CFO
    • Houston, 9 June (Argus) — Atlanta-based rolled aluminum manufacturer Novelis has appointed Devinder Ahuja as senior vice president for finance and chief financial officer-designate, effective 19 July. Ahuja will assume the role of chief financial officer in August after the company file
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    • COMMENTARY | 09 Jun 19:23
    • Oil futures: Crude falls after three days of gains
    • Houston, 9 June (Argus) — Oil futures fell today, snapping three days of gains, as the dollar strengthened and investor attention returned to brimming US crude stocks. Nymex July light, sweet crude futures settled lower by 67¢/bl to $50.56/bl, after touching a new 2016 top in the previo
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    • NEWS | 09 Jun 18:55
    • Genesee & Wyoming May metals traffic down
    • Genesee Wyoming May metals traffic down New York, 9 June (Argus) — Shortline railroad company Genesee Wyoming shipped 2.3pc less metals, ores, and minerals across all segments during May from a year earlier. The carrier shipped 50,894 carloads of metals, metallic ores, and minerals a
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    • COMMENTARY | 09 Jun 18:48
    • US ferro-alloys: Imports offset FeTi demand
    • New York, 9 June (Argus) — US ferro-titanium prices stabilized during the latest week as cheaper eastern European imports offset firm demand. US ferro-titanium (Ti 70pc) prices were flat at $1.70-1.80/lb, following a two-week run-up. Spot market demand remained firm during the latest we
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    • COMMENTARY | 09 Jun 18:38
    • Turkish scrap: Prices firm as mills resume purchasing
    • London, 9 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment rose $2/t to $237.30/t cfr Turkey on the back of the assessment of a USA cargo and a Scandinavian cargo, as Turkish mills made their first deep-sea scrap purchases for over a month. A US supplier so
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    • NEWS | 09 Jun 16:58
    • JFE Steel, Nucor to build plant in Mexico
    • Houston, 9 June (Argus) — US-based Nucor and Japan's JFE Steel agreed to form a 50-50 joint venture to build and operate a galvanized sheet steel plant in central Mexico to supply that country's growing automotive market. The $270mn plant will have a 400,000net ton (363,000 metric tonn
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    • NEWS | 09 Jun 16:30
    • Johnson Controls to build fourth China battery plant
    • Houston, 9 June (Argus) — Diversified US technology manufacturer Johnson Controls is forming a joint venture with Binzhou Bohai Piston to build its fourth Chinese automotive battery manufacturing plant. The more than $200mn plant, located in eastern, Shandong province, will be able to p
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    • NEWS | 09 Jun 16:26
    • Cliffs accelerates United Taconite startup on USSC deal
    • Houston, 9 June (Argus) — US-based iron ore producer Cliffs Natural Resources plans to restart its United Taconite operation earlier than previously announced because of an offtake deal recently signed with US Steel Canada (USSC). Cliffs boosted its sales and production guidance as a res
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    • COMMENTARY | 09 Jun 15:12
    • US ferro-alloys: FeV rises, FeMo, FeTi flat
    • New York, 9 June (Argus) — US ferro-vanadium prices edged up this week as limited supplies outpaced a drop in spot market volumes. Meanwhile, prices for ferro-molybdenum, ferro-chrome, and manganese alloys were unchanged amid flat demand. FeCr US high carbon ferro-chrome (Cr 60pc C 6-
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    • NEWS | 09 Jun 14:54
    • US iron ore output, shipments fall: Correction
    • (Corrects shipments in first, second paragraphs) Houston, 9 June (Argus) — US production of iron ore decreased by 31.7pc in the first quarter from a year earlier. Shipments decreased by 10pc over the same period. First quarter production decreased to 9mn t from 13mn t a year earlier
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    • NEWS | 09 Jun 14:45
    • US iron ore output, shipments fall
    • Houston, 9 June (Argus) — US production of iron ore decreased by 31.7pc in the first quarter from a year earlier. Shipments decreased by 51pc over the same period. First quarter production decreased to 9mn t from 13mn t a year earlier while shipments fell to 1.7mn t from 3.4mn t a year
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    • NEWS | 09 Jun 11:39
    • Brazil steel bosses urge action to 'save industry'
    • Sao Paulo, 9 June (Argus) — Brazilian steel sector executives are urging the country's interim government to implement a series of short and longer term measures aimed at ensuring the industry's survival. With the country mired in a deep recession that has seen industrial output fall fo
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    • NEWS | 09 Jun 11:01
    • Vedanta increases zinc investment
    • London, 9 June (Argus) — Diversified mining company Vedanta Resources plans to increase its 2016-17 capital investment in zinc to $500mn, or about half of all of its total capital expenditure allocated for this financial year. Earlier this year the company's chief executive Tom Albanes
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    • NEWS | 09 Jun 11:00
    • S Africa's Transnet moves record 1.05mn t Mn ore in May
    • Johannesburg, 9 June (Argus) — South Africa's state-owned Transnet Freight Rail (TFR) moved a new monthly record of 1.05mn t of manganese ore for export in May partly due to improved efficiencies and the use of new locomotives. The logistics utility said the introduction of a new locomo
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    • NEWS | 09 Jun 10:46
    • Antas Cu mine eyes 1,000 t/month output by July
    • Johannesburg, 9 June (Argus) — Perth-based copper and gold miner Avanco Resources is on track to achieve steady-state commercial output of 1,000 t/month of copper concentrate in July at its Antas mine in Brazil's Carajas mineral province. The company said the fledgling copper-gold mine
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    • NEWS | 08 Jun 21:49
    • US steel import applications rise in May
    • Houston, 8 June (Argus) — Applications for US steel imports rose by 16pc in May from the prior month, led by increases from Turkey, Germany and Brazil. Applications totaled 2.93mn net tons (2.65mn metric tonnes) in May, compared with 2.53mn permit tons recorded in April and a 18pc incre
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    • NEWS | 08 Jun 21:42
    • Die caster Shiloh Industries turns profit
    • Houston, 8 June (Argus) — Ohio-based automotive die caster Shiloh Industries posted a $3mn profit in the second quarter as sales increased by 4pc from a year earlier. Sales grew to $284.3mn during the quarter from $272.2mn as profits reversed a $5mn loss Shiloh reported a year earlier.
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    • COMMENTARY | 08 Jun 21:32
    • US copper scrap: No. 1 bare bright rises
    • Houston, 8 June (Argus) — US No. 1 bare bright scrap price spreads strengthened by a penny in the latest week as availability of copper scrap tightened. Consumer buying price spreads for bare bright were at 2¢/lb over July Comex to 1¢/lb under July Comex this week, from 1¢/lb over to 2¢
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    • COMMENTARY | 08 Jun 21:28
    • US copper: Cathode premiums flat as stocks rise
    • Houston, 8 June (Argus) — US copper cathode premiums were unchanged in the latest week amid ample supply for material to replace scant bare bright scrap. Growing stockpiles signal imminent downward pressure on premiums. Cathode Grade A premiums were at 5.75-6.75¢/lb delivered midwest c
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    • COMMENTARY | 08 Jun 20:55
    • US aluminum: Midwest premium falls
    • Houston, 8 June (Argus) — The midwest premium for primary aluminum fell this week amid thin spot trading and a diminishing contango. The premium decreased to 7.5-7.75¢/lb from 7.5-7.9 ¢/lb a week earlier and is at its lowest level since late October. The 10-day average contango for Lon
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    • NEWS | 08 Jun 20:52
    • Lundin to start Ecuador gold mine in 2020
    • Quito, 8 June (Argus) — Lundin Gold plans to start building the underground Fruta Del Norte (FDN) gold mine in southern Ecuador by mid-2017, with first production now scheduled for first quarter 2020. The Vancouver-based company is in talks with investors and banks, and expects to have
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    • NEWS | 08 Jun 20:48
    • Brazil gives nod to Ball acquisition of Rexam
    • Houston, 8 June (Argus) — Brazilian regulators have approved the purchase of divested assets mandated as part of US-based Ball's proposed acquisition of UK competitor Rexam, bringing the transaction nearer to closing. Colorado-based packaging manufacturer Ball and Rexam agreed in Decemb
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    • COMMENTARY | 08 Jun 20:35
    • US aluminum scrap: UBC spreads track LME
    • Houston, 8 June (Argus) — Used aluminum beverage can spreads held flat Wednesday from a week earlier. Outright buying prices increased in step with London Metal Exchange aluminum which its highest levels since early May. Consumers have expressed interest in widening spreads, but contin
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    • COMMENTARY | 08 Jun 19:57
    • Oil futures: WTI up for 3rd day as US stocks fall
    • Houston, 8 June (Argus) — Oil futures rose to a new 2016 high as US crude inventories fell for a third consecutive week, pointing to a market returning balance. Nymex July light, sweet crude futures settled higher by 87¢/bl to $51.23/bl, rising for a third day to the highest since July
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    • COMMENTARY | 08 Jun 19:09
    • Aluminium: Premiums flat in Europe
    • Houston, 8 June (Argus) — Primary aluminium premiums remained unchanged in European trade in the latest week amid slow, flat demand. The premium for P1020 duty unpaid aluminum remained at $65-75/t for a second week, while duty paid premiums stayed at $120-130/t for a third week. Extrus
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    • NEWS | 08 Jun 18:38
    • US vanadium consumption, imports fall in first quarter
    • New York, 8 June (Argus) — Total US vanadium alloy consumption fell by 5.3pc during the first quarter amid lower ferro-vanadium levels. Vanadium alloy consumption totaled 866t in the first quarter, down from 914t a year earlier, according to data from the US Geological Survey (USGS). Va
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    • COMMENTARY | 08 Jun 18:07
    • Turkish scrap: Bids move up to $230/t cfr Turkey
    • London, 8 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment has moved up $1.50/t to $235.30/t cfr Turkey, on the back of the latest bids and offers in the market. A number of Turkish mills entered the deep-sea market this morning, it was confirmed. Three Isk
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    • NEWS | 08 Jun 18:07
    • US molybdenum production halved in first quarter
    • New York, 8 June (Argus) — Total US molybdenum concentrate production fell by 53pc in the first quarter from a year earlier because of production suspensions at byproduct molybdenum circuits. Molybdenum production totaled 6,440t during the first quarter, down from 13,800t a year earlier
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    • NEWS | 08 Jun 17:56
    • Higher volatility foreseen in markets: Irepas
    • London, 8 June (Argus) — A higher degree of volatility is evident in the international semi-finished steel and scrap markets amid fluctuations in Chinese steelmaking production, a short-term sector outlook from European steel body Irepas has said. Conditions in the global long steel pro
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    • NEWS | 08 Jun 17:45
    • Tesla working exclusively with Panasonic on batteries
    • London, 8 June (Argus) — Electric vehicle manufacturer Tesla Motors is working exclusively with multinational Panasonic on battery technology for its Model 3 cars, Tesla chief executive Elon Musk said. This comes after a reports surfaced of a potential deal between Tesla and Panasonic
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    • NEWS | 08 Jun 17:44
    • US met coal exports to Europe fall by a third
    • London, 8 June (Argus) — Exports of metallurgical coal from the US to Europe declined by more than a third in the first four months of this year, falling by 34pc on the year to 4.86mn t. But the rate of contraction was less in April, when shipments to Europe were 20pc lower year on year
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    • NEWS | 08 Jun 16:44
    • EAEU imposes 26.35pc duty on Ukraine SiMn
    • London, 8 June (Argus) — The Eurasian Commission has imposed a 26.35pc anti-dumping duty on silico-manganese from Ukraine which is likely to shut Ukrainian producers out of the Russian market. The commission is the legislative body of the Eurasian Economic Union (EAEU), and includes Rus
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    • COMMENTARY | 08 Jun 16:29
    • US minor metals: Selenium surges, indium unchanged
    • New York, 8 June (Argus) — US indium prices were unchanged in the latest week amid steady, low-volume trading. Indium ingot (In 99.99pc) prices were flat at $220-250/kg during the latest week. Large-volume inquiries remained sporadic, while smaller, 25-50kg lots sold as high as $280-300
    • Read more
    • NEWS | 08 Jun 16:05
    • Zimasco to restart third FeCr furnace in August
    • London, 8 June (Argus) — Zimbabwe's biggest integrated ferro-chrome producer Zimasco is planning to restart a third ferro-chrome production furnace by the end of August, with around 100,000 t/yr of high carbon ferro-chrome production out of a production capacity of 180,000 t/yr. The co
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    • NEWS | 08 Jun 15:55
    • Indonesia May tin exports decline
    • London, 8 June (Argus) — Indonesia's shipment of tin declined to 5,378t in May, down 22pc on the month and down 14pc on the year, as the government continues to tighten its oversight of tin production and exports. During the same month tin volume traded on the Indonesian Commodity and
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    • NEWS | 08 Jun 15:48
    • PNX Metals forwards sells Ag to fund Zn/Au/Ag study
    • Johannesburg, 8 June (Argus) — South Australian base and precious metals explorer PNX Metals has forward sold silver from its Hayes Creek zinc-gold-silver project in Australia's Northern Territory to fund the technical components of a pre-feasibility study. The company said it has agree
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    • NEWS | 08 Jun 14:11
    • China’s steel exports rise in May
    • China's steel exports rise in May Singapore, 8 June (Argus) — China's steel exports rose in May as a fall in domestic prices pushed more output into the global market. Exports were 9.42mn t, up by 3.7pc from 9.08mn t in April and higher by 2.4pc from 9.2mn t in May 2015, customs data sh
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    • NEWS | 08 Jun 14:09
    • China makes no new pledges to US on steel capacity
    • Singapore, 8 June (Argus) — Beijing has agreed with Washington on the need to make China's steel capacity more responsive to market forces, although it did not propose any new reduction targets. Steel overcapacity and yuan devaluation figured as major topics of discussion at the US-Chin
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    • NEWS | 08 Jun 14:02
    • Rio Tinto buys back $3bn in debt
    • Sydney, 8 June (Argus) — UK-Australian mining firm Rio Tinto plans to buy back up to $3bn in debt as it seeks to cut its interest payments. This is the company's second debt buyback this year, after it completed $1.36bn of its $1.5bn debt purchase offer in April for debt maturing in 201
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    • NEWS | 08 Jun 12:59
    • India's MMTC cancels Mn ore tender on low interest
    • Mumbai, 8 June (Argus) — Indian state-owned trading company MMTC has cancelled its first manganese ore export tender for ten months for 50,000t of manganese ore because of a lack of bids. The low level of interest was the result of weak demand and ample supply. MMTC only announced two
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    • NEWS | 08 Jun 12:12
    • China Minmetals cuts tungsten guide prices for June
    • Beijing, 8 June (Argus) — State-owned China Minmetals has lowered its tungsten guide prices for June delivery compared with last month. It started issuing monthly guide prices in May, after a break of six months. Minmetals set its guide price for wolframite (iron-manganese tungstate mi
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    • NEWS | 08 Jun 11:41
    • Chrome/PGM producer Tharisa lists on LSE
    • Johannesburg, 8 June (Argus) — Chrome and platinum group metals producer Tharisa has today listed its 255.8mn shares on the London Stock Exchange. The company has its primary listing in Johannesburg and owns the Tharisa mine in South Africa's North West province. The mine has an open p
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    • NEWS | 08 Jun 11:39
    • Alara flags more Cu/Au at Oman project
    • Johannesburg, 8 June (Argus) — Perth-based Alara Resources has identified new high grade copper-gold mineralisation at its Washihi deposit in Oman. The company said the new mineralisation is in addition to the 14mn t copper-gold mineral resource included in a recently released feasibili
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    • NEWS | 08 Jun 10:59
    • Chinese rare earth stockpiling fails to boost prices
    • Beijing, 8 June (Argus) — A long-awaited public tender to buy rare earths for China's national stockpiles failed to raise market prices, with government bids falling well short of suppliers' expectations. China's State Reserve Bureau (SRB) issued a public tender yesterday in Beijing fo
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    • NEWS | 08 Jun 09:14
    • Baotou approves 14 downstream rare earth projects
    • Beijing, 8 June (Argus) — The municipal government of Baotou, in the northern Chinese province of Inner Mongolia, has signed agreements with investors for 14 new projects for producing rare earth materials in the city's Rare Earths Hi-tech Development Zone. Baotou is one of the largest
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    • NEWS | 07 Jun 22:56
    • Glencore to face antitrust zinc trading case
    • Houston, 7 June (Argus) — A US judge has rejected motions to dismiss an antitrust class action lawsuit and said two units of the Anglo-Swiss mining company Glencore have to face a lawsuit accusing them of trying to monopolize the market for special high grade zinc and "artificially" infl
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    • COMMENTARY | 07 Jun 22:46
    • US aluminum scrap: Spreads narrow on lower LME
    • Houston, 7 June (Argus) — Mill grade aluminum scrap spreads tightened for most grades as steady demand from US mills kept outright prices the same despite softer exchange prices. London Metal Exchange cash aluminum prices settled at $1,541/t (69.9¢/lb) Tuesday, down from $1,548/t (70.2¢
    • Read more
    • NEWS | 07 Jun 22:29
    • US raises steel, aluminum overcapacity in China talks
    • Houston, 7 June (Argus) — High-level annual discussions between the US and China held in Beijing this week touched on the "distorting and damaging" effects of excess capacity of steel and aluminum production on global markets. US Treasury Secretary Jack Lew, during the opening yesterda
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    • NEWS | 07 Jun 20:26
    • Nemak aluminum diecasting plant cuts workforce
    • Houston, 7 June (Argus) — Mexico-based die caster Nemak has issued layoff warnings to 61 employees at its engine block plant in Windsor, Ontario. The notices, which apply to 49 production workers and 12 skilled trade workers, were issued last week and are effective 13 June, according to
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    • NEWS | 07 Jun 20:19
    • Global semiconductor bookings fall in first quarter
    • New York, 7 June (Argus) — Worldwide semiconductor equipment bookings decreased by 13pc in the first quarter from a year earlier amid falling South Korean, North American and European orders. Semiconductor equipment orders totaled $8.28bn in the first quarter, down from $9.5bn in the sa
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    • COMMENTARY | 07 Jun 20:05
    • US minor metals: Silicon flat on low-volume orders
    • New York, 7 June (Argus) — US silicon metal prices were flat during the latest week amid steady small-volume demand. Silicon metal (Si 98.5pc) prices were unchanged at 92-94¢/lb, unwavering for a third straight week. Consistent small-volume orders supported offers, even as overall sales
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    • COMMENTARY | 07 Jun 19:50
    • Oil futures: WTI settles above $50, first in 2016
    • Houston, 7 June (Argus) — WTI futures settled above $50/bl for the first time in 2016 amid a weaker US dollar and disruptions that have impacted North Sea and Nigeria supply. Nymex July light, sweet crude futures settled higher by 67¢/bl to $50.36/bl, rising for a second day to its hig
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    • COMMENTARY | 07 Jun 19:30
    • Copper: Cathode premiums flat in Europe, Asia
    • Houston, 7 June (Argus) — Copper cathode premiums were flat in Europe and east Asia in the latest week amid ample supply and thin spot activity. Grade A cathodes traded at $45-55/t in-warehouse Rotterdam for a third week, while off-grade cathodes were unchanged at $10-20/t in the latest
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    • COMMENTARY | 07 Jun 16:43
    • US Minor Metals: Se rises further, Co down
    • New York, 7 June (Argus) — US selenium prices rose this week amid higher offers for Chinese imports. Cadmium prices increased due to increasingly limited near-term supplies. But two weeks of quiet spot activity in cobalt pushed offers lower. Antimony Prices for 99.65pc grade metal we
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    • COMMENTARY | 07 Jun 16:38
    • US Antimony sales volumes up in May
    • New York, 7 June (Argus) — Montana-based antimony producer US Antimony boosted sales volumes by 6pc in May from the same month a year earlier. US Antimony sold 242,489lbs (108.25t) of antimony metal in May, up from 228,724lbs a year earlier and 9.6pc more than in the prior month. "The
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    • NEWS | 07 Jun 16:36
    • Hydro signs sales deal with Sapa
    • London, 7 June (Argus) — Hydro Aluminium, a subsidiary of Norwegian aluminium company Norsk Hydro, has entered into an agreement with Sapa AS, 50pc owned by Hydro, to supply extrusion ingot under an open-ended agreement starting in 2017. The agreement is a continuation of the current ag
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    • COMMENTARY | 07 Jun 15:40
    • US minor metals: Cobalt slips on thin trading
    • New York, 7 June (Argus) — US high-grade cobalt edged down in the latest week amid and weaker London Metal Exchange (LME) prices and limited spot market demand. High-grade cobalt (Co 99.8pc) prices declined to $11.00-11.50/lb from $11.00-11.75/lb a week earlier. US consumers remained o
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    • NEWS | 07 Jun 14:53
    • China targets steel mills on power consumption
    • Singapore, 7 June (Argus) — Chinese steel mills will be assessed on the basis of their energy consumption, with shutdowns likely to follow for those unable to curb their electricity use. The national policy planning think-tank NDRC opened a new front in the overcapacity reduction battle
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    • NEWS | 07 Jun 14:51
    • Jubilee exceeds feed rate at chrome/PGM tailings plant
    • Johannesburg, 7 June (Argus) — Mining company Jubilee Platinum exceeded the design feed rate by 50pc at its tailings plant at the Dilikong Chrome Mine in South Africa's Limpopo province during May, its first full month of operation. The company said it produced 6,675t of chrome concentr
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    • NEWS | 07 Jun 14:48
    • Indian steel output shows sluggish growth
    • Singapore, 7 June (Argus) — India's crude steel output is off to a slow start for the 2016-17 fiscal year that started 1 April, well below its 6pc growth forecast for the year. Crude steel output of 7.83mn t in May grew by 2.1pc from a year earlier and 2.5pc higher than April, steel min
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    • NEWS | 07 Jun 14:43
    • Chinese steel exports to Latin America down 37pc
    • Sao Paulo, 7 June (Argus) — Exports of Chinese steel products to Latin America fell by 37pc year on year to 2.3mn t in January-April, of which 2mn t were rolled steel products and 259,000t were seamless tubes and wire, according to Latin American steel association Alacero. Latin America
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    • NEWS | 07 Jun 14:40
    • US auto battery lead scrap exports fall
    • Houston, 7 June (Argus) — US exports of whole spent lead automotive batteries fell by 31.1pc in April from the same month a year earlier, while exports of recovered lead from batteries and other lead scrap rose over the same period. Exports of whole spent lead car batteries fell to 1,61
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    • NEWS | 07 Jun 13:09
    • Indian BMPA opposes new monazite limit for independents
    • Mumbai, 7 June (Argus) — Imposing an 0.75pc maximum limit on monazite content would "cripple" the beach mineral mining industry and shut down titanium and zircon sand mining operations, Indian industry association BMPA has said. The proposed limit on monazite content is included in the
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    • NEWS | 07 Jun 12:27
    • Trade improves for Zn, Al, Ni: Trafigura
    • London, 7 June (Argus) — Commodities trading group Trafigura reported a net profit of $602mn for the year ended 31 March 2016, down 10pc on the same period last year but 40pc higher than in the second half of 2015. Trafigura's chief executive Jeremy Weir said that the market for metals
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    • NEWS | 07 Jun 12:27
    • Trade improves for Zn, Al, Ni - Trafigura
    • London, 7 June (Argus) — Commodities trading group Trafigura reported a net profit of $602mn for the year ended 31 March 2016, down 10pc on the same period last year but 40pc higher than in the second half of 2015. Trafigura's chief executive Jeremy Weir said that the market for metals
    • Read more
    • NEWS | 07 Jun 12:09
    • Zenith Minerals acquires Li project in Arizona
    • Johannesburg, 7 June (Argus) — Perth-based Zenith Minerals has acquired the San Domingo lithium exploration project in the US state of Arizona. The company said the project area covers a 9km by 1.5km lithium-bearing pegmatite dyke range. Initial mapping and sampling has identified 10 se
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    • NEWS | 07 Jun 11:48
    • China's GTA lowers tungsten guide prices for June
    • Beijing, 7 June (Argus) — China's Ganzhou Tungsten Association (GTA) has cut its guide prices for tungsten concentrate by 2,000 yuan/t to Yn75,000/t for June delivery. The association has also cut its guide prices for ammonium paratungstate (APT) by Yn10,000/t to Yn115,000/t and for tu
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    • NEWS | 07 Jun 11:39
    • Latrobe Magnesium appoints US-based distributor
    • Johannesburg, 7 June (Argus) — Australia's Latrobe Magnesium has appointed St Louis, Missouri-based Metal Exchange Corporation as its distributor in North, Central and South America, as well as in the Caribbean. The agreement also requires Metal Exchange Corporation to purchase a minimu
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    • COMMENTARY | 07 Jun 11:28
    • LME minors: Extends stable trend
    • London, 7 June (Argus) — London Metal Exchange (LME) molybdenum and cobalt are stable this week, extending a steady trend in the first week of June, but molybdenum is open to losses amid signs of lower physical market prices. LME molybdenum settled at a cash price of $14,800/15,300/t on
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    • NEWS | 07 Jun 11:21
    • China’s Zijin acquires copper mining firm Heilong
    • China's Zijin acquires copper mining firm Heilong Beijing, 7 June (Argus) — Gold, copper and non-ferrous metals producer Chinese state-owned Zijin Mining today announced the acquisition of Chinese copper mining firm Heilong Mining. Hong Kong-listed Zijin Mining will pay 1.56bn yuan ($23
    • Read more
    • NEWS | 07 Jun 10:32
    • Peru molybdenum production up sharply in April
    • Sao Paulo, 7 June (Argus) — Molybdenum production in Peru increased 43.1pc in April compared with the same month a year earlier to 2,335t, data from the country's mining ministry showed. The ministry publishes figures to the nearest tonne. Output was up 1.7pc against March. Southern C
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    • NEWS | 07 Jun 10:00
    • India's MMTC cancels chrome ore export tender
    • Mumbai, 7 June (Argus) — Indian state-controlled trading company MMTC has cancelled a tender to export 40,000t of 50-48pc chrome ore concentrate. MMTC cancelled the tender as a result of the reinstatement of a 30pc export duty on chrome ore on 26 May . It is reworking the terms and exp
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    • NEWS | 07 Jun 09:51
    • China April export data show big rise for HC FeCr alloy
    • Beijing, 7 June (Argus) — China's customs agency has issued April export data for ferro-alloys which show a large increase for high-carbon ferro-chrome. Exports of high-carbon ferro-chrome rose by 78pc to 581t in April 2016, from 327t a year earlier. Purchases increased sharply as a res
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    • NEWS | 06 Jun 22:05
    • GM veteran Moore joins MetalX
    • MetalX adds to portfolio, management Houston, 6 June (Argus) — Aluminum industry veteran Kevin Moore joined scrap recycling business MetalX as a senior marketing executive today. Among Moore's task will be managing aluminum trading activities for scrap and refined products, hedging
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    • NEWS | 06 Jun 21:47
    • US aluminum scrap exports fall in April
    • Houston, 6 June (Argus) — US exports of aluminum scrap fell by 20pc to 105,703t in April from a year earlier. Exports other than UBCs or RSI fell to 97,157t from 123,362t. RSI exports were down by 28pc to 4,026t and UBC exports rose by 8pc to 4,520t. The top routes for UBC exports in
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    • NEWS | 06 Jun 21:34
    • US base metal scrap exports fall
    • Houston, 6 June (Argus) — US exports of base metal scrap fell by 16.4pc in April from a year earlier, led by falling shipments of copper and aluminum. Exports of base metal scrap fell to 198,069t in April from a year earlier, the Commerce Department said. Year to date, exports fell by 7
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    • NEWS | 06 Jun 21:28
    • US copper scrap exports fall in April
    • Houston, 6 June (Argus) — US exports of copper scrap fell by 11.5pc in April from a year earlier, led by declines in shipments of No. 1 and No. 2 scrap. Exports of copper scrap fell to 80,178t in April from the same month a year earlier, according to US Commerce Department data. Exports
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    • NEWS | 06 Jun 21:22
    • US raw steel utilization stays above 75pc, output falls
    • Houston, 6 June (Argus) — US raw steel capacity utilization remained above 75pc for a third week even as total output was weighed down by falling production in the south. Output for the week ended 4 June fell to 1.76mn net tons (1.6mn metric tonnes) from 1.78mn nt a week earlier, while
    • Read more
    • COMMENTARY | 06 Jun 19:47
    • US zinc: Premiums flat as LME rises
    • Houston, 6 June (Argus) — US zinc premiums remained flat in the latest week amid lackluster demand even as London Metal Exchange (LME) zinc hit its highest level in 11 months. The US zinc premium held at 6.5-7.5¢/lb delivered Monday, unchanged since the last week of April. Cash officia
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    • COMMENTARY | 06 Jun 19:28
    • Oil futures: WTI settles near one-year high
    • Houston, 6 June (Argus) — Nymex crude prices today reached their highest settlement in nearly a year amid ongoing international supply concerns. Nymex July light, sweet crude futures settled higher by $1.07/bl to $49.69/bl, its highest since 21 July but 15pc lower than the same day last
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    • NEWS | 06 Jun 18:45
    • US brass mill imports fall in April
    • Houston, 6 June (Argus) — US imports of brass mill products fell by 17pc in April from the same month a year earlier. Imports of brass mill products totaled 39.7mn lbs in April, compared with 47.8mn lbs the same month a year earlier, the Copper and Brass Fabricators Council said today.
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    • NEWS | 06 Jun 18:36
    • ArcelorMittal delays iron ore life expansion
    • Houston, 6 June (Argus) — ArcelorMittal Mining Canada has indefinitely delayed a project that would extend the life of its biggest iron ore mine by up to 15 years. The offload project, which was set to start this summer at the Mont Wright mine in Quebec province and would have extended
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    • NEWS | 06 Jun 18:31
    • Metalysys upscales powder technology
    • London, 6 June (Argus) — UK powder metallurgy firm Metalysis is on course to have a new commercial scale in operation in the early part of next year to demonstrate its titanium and tantalum powder manufacturing process. Work in already underway on the new facility at its Wath-upon-Dearn
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    • COMMENTARY | 06 Jun 18:31
    • Turkish scrap: Pressure mounts as buying nears
    • London, 6 June (Argus) — A US supplier has started discussions with a Turkish mill for the first time in several weeks. No details were revealed, but the mill believes the supplier will open negotiations at $250/t cif Turkey for second half of June shipment for HMS 1/2 80:20. The suppl
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    • NEWS | 06 Jun 18:20
    • Brazilian auto output continues to fall
    • Sao Paulo, 6 June (Argus) — Brazilian auto production fell 18pc in May providing little in the way of optimism for foundry producers, steel makers and ferro-alloys suppliers looking for a way out of the country's prolonged and deep recession. Output totalled 175,309 vehicles, the worst
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    • NEWS | 06 Jun 18:09
    • Turkish scrap imports step higher
    • London, 6 June (Argus) — Turkish ferrous scrap imports rose by 4pc year on year to 5.53mn t in January-April, Turkish Steel Producers Association (TCUD) said today. Turkey imported 1.13mn t of ferrous scrap from the US in the first four months of the year, up from 1.09mn t in same perio
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    • COMMENTARY | 06 Jun 17:27
    • EU secondary aluminium: Ingot prices fall
    • Houston, 6 June (Argus) — Secondary aluminium ingot prices fell in Germany and the UK in the latest week as producers lowered prices to secure sales amid flat demand as London Metal Exchange aluminium traded in a narrow, $11 range. Aluminium ingot producers as well as zinc producers and
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    • NEWS | 06 Jun 16:32
    • European cargoes boost April US ferrous scrap imports
    • Houston, 6 June (Argus) — US ferrous scrap imports rose by 40.8pc in April from the same month a year earlier, as bulk cargoes arriving from the UK, Sweden and the Netherlands boosted imports by 83,486tonnes. Ferrous scrap imports in April increased to 261,612t from 185,811t during the
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    • NEWS | 06 Jun 16:29
    • Elkem posts record high results in 2015
    • London, 6 June (Argus) — Norwegian silicon and ferro-silicon producer Elkem has posted record high financial results for 2015, the company said. Elkem's profit was NKr953mn ($116mn) last year, from a loss of NKr 22mn in 2014, the company said. Total revenues were NKr 14.541bn ($1.771bn
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    • NEWS | 06 Jun 16:20
    • Elkem to start new polysilicon supply plan in 3Q
    • London, 6 June (Argus) — Norwegian renewable energy group Elkem Solar will start supplying solar silicon (polysilicon) from its plant in Kristiansand, southern Norway, to a former REC solar wafer factory in Porsgrunn to produce ingots for solar panels in the next quarter. The ingots wi
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    • NEWS | 06 Jun 16:15
    • Almonty takes control of Spain tungsten project
    • Sao Paulo, 6 June (Argus) — Canada-based tungsten producer Almonty Industries has increased its stake to 51pc in the Valtreixal tin-tungsten project in northwestern Spain. This comes after the company made a final instalment payment of €300,000 ($340,595). So far the company has paid ou
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    • NEWS | 06 Jun 16:11
    • FinnAust and Royal IHC to work on Pituffik mine
    • London, 6 June (Argus) — Junior mining company FinnAust which is developing the Pituffik titanium project in Greenland plans to work with Dutch services firm Royal IHC on the project. FinnAust bought a 60pc stake in the project in March and plans to develop a mine which will produce lo
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    • NEWS | 06 Jun 15:47
    • Expansions, new projects boost April Peru copper output
    • Sao Paulo, 6 June (Argus) — Copper concentrate production in Peru increased by 53.4pc in April, helped by new projects particularly expansions at Cerro Verde, Las Bambas, Constancia and Toromocho, the country's mining ministry said. April output from nearly 90 pits across Peru totalled
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    • NEWS | 06 Jun 15:41
    • Peru zinc concentrate output falls in April
    • Sao Paulo, 6 June (Argus) — Zinc concentrate production in Peru fell 15.3pc in April compared with the same month a year earlier to 96,785t, the country's mining ministry said. Several of the country's mines experienced double digit percentage declines in output in March compared with a
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    • NEWS | 06 Jun 13:16
    • Brazil's Samarco faces years of Fe capacity restraint
    • London, 6 June (Argus) — Brazilian iron ore mining firm Samarco Mineracao said it will have to restrict output at its suspended 25mn t/yr iron ore mine in Minas Gerais to 60pc capacity "for some years", once the facility is allowed to reopen. The company reached a deal with mining union
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    • NEWS | 06 Jun 12:40
    • India's OMC to increase chromium ore capacity
    • Mumbai, 6 June (Argus) — Indian state-controlled mining firm OMC intends to double its ore production capacity, which mainly comprises chrome, iron and manganese ore, to 20mn t/yr from 10mn t/yr by 2019. The government of Odisha, the eastern Indian state in which OMC is based, decided
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    • NEWS | 06 Jun 11:47
    • Heron Resources on track with Zn/Cu study
    • Johannesburg, 6 June (Argus) — Australian base metals explorer Heron Resources is on track to release a definitive feasibility study on its Woodlawn zinc-copper project,, which is south-west of Sydney. The company said it will release the results of the study before the end of June and
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    • NEWS | 06 Jun 11:34
    • Australia's Variscan flags zinc resource in France
    • Johannesburg, 6 June (Argus) — Australian base metals explorer Variscan Mines has announced a maiden mineral resource at its Porte aux Moines volcanogenic massive sulphide project in Brittany, France. The company has declared a mineral resource of 2.2mn t grading 6pc zinc, 1.3pc lead, 0
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    • NEWS | 06 Jun 11:02
    • Ukraine looks to privatise TiO2 assets
    • London, 6 June (Argus) — The Ukrainian government is lining up some of the country's major titanium feedstock assets for privatisation. The Federal Property Fund of Ukraine has announced a tender for an auditor to carry out the valuation of the assets of Sumykhimprom, a phosphate fertil
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    • NEWS | 06 Jun 10:19
    • Chaoyang Orient to supply Zr to China Nuclear Fuel
    • Beijing, 6 June (Argus) — Chinese private-sector Chaoyang Orient Zirconic Material, a subsidiary of Shenzhen-listed Guangdong Orient Zirconic, has obtained approval to supply nuclear-grade zirconium sponge to the country's sole supplier of nuclear fuel, state-controlled China Nuclear Fue
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    • NEWS | 06 Jun 09:05
    • Producers in Ningxia cut SiMn prices on low demand
    • Beijing, 6 June (Argus) — A number of large private-sector producers in China's northern province of Ningxia have cut offer prices for silico-manganese alloy in response to sporadic orders and high stockpiles. Ningxia Pingluo Wanshun Metallurgy is offering Yn4,400-4,500/t ($672-688/t) e
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    • ANALYSIS | 03 Jun 23:45
    • US ferrous scrap: Shred prevents cull in early trade
    • Houston, 3 June (Argus) — US domestic ferrous scrap markets have completed 25-40pc of trading for June deliveries in key consuming pockets of the midwest and southeast, with other regions like the Ohio valley and Rocky Mountain expected to kick-off trading next week. Mill demand for Jun
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    • NEWS | 03 Jun 23:45
    • US ferrous scrap: Shred avoids cull in early trade
    • Houston, 3 June (Argus) US domestic ferrous scrap markets have completed 25-40pc of trading for June deliveries in key consuming pockets of the midwest and southeast, with other regions like the Ohio valley and Rocky Mountain expected to kick-off trading next week. Mill demand for June scra
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    • ANALYSIS | 03 Jun 22:43
    • This Week in Metals: 31 May-3 June
    • Houston, 3 June (Argus) — The US economy generated the fewest jobs in May in nearly six years, lessening the odds of a Federal Reserve rate hike at upcoming policy meetings in June and July. The dollar weakened after the report. Comex copper gained today after the jobs report, while Lon
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    • NEWS | 03 Jun 22:34
    • US ferrous scrap exports fall in April
    • Houston, 3 June (Argus) — Ferrous scrap exports fell by 17.5pc in April from the same month a year earlier, as a rise in shipments to South Korea and India were outstripped by a drop in shipments to Turkey, Taiwan and Canada. Commerce Department data today showed ferrous scrap exports f
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    • NEWS | 03 Jun 21:27
    • DLA sold $2.4mn of FeCr in May
    • New York, 3 June (Argus) — The US defense department's procurement arm the Defense Logistics Agency (DLA) sold 1,700 short tons (st) ferro-chrome in May, compared with no sales the prior month. The DLA sold 700st of low carbon ferro-chrome and 1,000st of high carbon ferro-chrome in May
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    • NEWS | 03 Jun 20:10
    • US steel imports drop on Turkey, Japan declines
    • Houston, 3 June (Argus) — US steel imports declined by 30pc in April from a year earlier, led by lower imports from Turkey, Japan and South Korea. The US imported 2.5mn net tons (2.3mn metric tonnes) of steel in April, the American Institute for International Steel (AIIS) said today. I
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    • COMMENTARY | 03 Jun 19:54
    • Oil futures: Crude falls as US producers add rigs
    • Houston, 3 June (Argus) — Crude prices fell today as US producers added rigs in what may be an early sign that the slowdown in drilling may be bottoming out amid the recovery in prices. Ice August Brent fell by 40¢/bl to $49.64/bl, after settling above the $50/bl mark for the first tim
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    • NEWS | 03 Jun 19:11
    • US silicon output and exports fall in first quarter
    • New York, 3 June (Argus) — US production of silicon and silicon alloys declined by 3.7pc during the first quarter from a year earlier amid falling shipments and exports. The US produced 130,000t of silicon and silicon alloys in the first quarter, down from 135,000t in 2015, according to
    • Read more
    • COMMENTARY | 03 Jun 18:56
    • Stainless steel: US scrap trades sideways
    • Houston, 3 June (Argus) — Stainless steel scrap prices were unchanged in the latest week amid mounting expectations that the market will soften as stainless producers take summer maintenance outages. Processor buying prices for type 304 (18-8) scrap solids traded at $1,010-1,045/gross t
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    • COMMENTARY | 03 Jun 18:40
    • US secondary aluminum: A380.1 prices fall
    • Houston, 3 June (Argus) — A380.1 prices fell this week as smelter discounts and North American Specialty Aluminum Alloy Contract (Nasaac) material weighed on spot prices. A380.1 prices decreased to 84-85¢/lb from 84-86¢/lb a week earlier as a domestic surplus of the alloy has caused ing
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    • COMMENTARY | 03 Jun 18:38
    • Aluminium scrap: Export markets mixed
    • Houston, 3 June (Argus) — US export aluminium scrap prices were unchanged in European trading this week as London Metal Exchange aluminum traded in a narrow range and demand was steady. European secondary smelter prices for tense (old cast) remained at 61-63¢/lb , while taint/tabor (ol
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    • COMMENTARY | 03 Jun 18:04
    • Turkish scrap: Discussions set to move into weekend
    • London, 3 June (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved down $11.20/t to $233.80/t cfr Turkey on the back of the latest bid and offer indications in the market today. An Izmir mill submitted a bid of $220/t cfr Turkey for premium HMS 1/2 80:20 to a
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    • COMMENTARY | 03 Jun 16:51
    • US ferro-alloys: Steel production firms FeMn, SiMn
    • New York, 3 June (Argus) — Prices for US high carbon ferro-manganese were firm this week amid stable low volume demand. High carbon ferro-manganese (Mn 80pc, C 6-8pc) prices consolidated last week's gains, stabilizing between $810-860/gt this week. The market increased by $5/gt last wee
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    • NEWS | 03 Jun 16:05
    • WEEK IN REVIEW: US, China concern
    • London, 3 June (Argus) — The US economy generated the fewest jobs in May in more than five years, lessening the odds of a Federal Reserve rate hike at upcoming policy meetings in June and July. Non-farm payrolls rose by 38,000 in May, following downward revisions in April and March that
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    • NEWS | 03 Jun 15:52
    • Peru tin production down in April
    • Sao Paulo, 3 June (Argus) — Peru's tin concentrate production totalled 1,441t in April, down 12.9pc on the same month a year earlier. Output fell 9.8pc against March. Lima-based Minsur is Peru's only producer of tin concentrate. The company deploys separate gravity separation and flota
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    • NEWS | 03 Jun 15:50
    • Peru cadmium output up in April
    • Sao Paulo, 3 June (Argus) — Peru's cadmium production was 70t in April - 9t or 14.8pc higher than the 61t in the same month a year earlier, and 4.5pc up against March's output of 67t. In the opening fourth months of 2016 output ran to 258t, 8.9pc more than the 237t a year earlier. For
    • Read more
    • NEWS | 03 Jun 15:43
    • US jobs growth slowest in nearly six years: Labor
    • Houston, 3 June (Argus) — The US economy generated the fewest jobs in May in nearly six years, lessening the odds of a Federal Reserve rate hike at upcoming policy meetings in June and July. Non-farm payrolls rose by 38,000 in May, following downward revisions in April and March that cu
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    • NEWS | 03 Jun 12:30
    • Bushveld secures first tranche of Vametco financing
    • Johannesburg, 3 June (Argus) — AIM-listed mining company Bushveld Minerals has secured $5.2mn of finance for the first tranche of a $17.2mn price tag to acquire Evraz Group SA's 78.8pc stake in Strategic Minerals Corporation which owns the Vametco vanadium mine and processing plant in So
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    • NEWS | 03 Jun 11:56
    • China to complete RE industry consolidation in June
    • Beijing, 3 June (Argus) — The Chinese government is speeding up consolidation of the domestic rare earth industry, with the formation of six large state-controlled groups expected to be completed by the end of June. Beijing has approved the formation of Northern Rare Earth Group, Xiame
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    • NEWS | 03 Jun 11:22
    • China Minmetals starts to merge with MCC
    • Beijing, 3 June (Argus) — China's largest base metal producer and mineral trader state-owned China Minmetals has started the process of merging with state-owned engineering and mining firm Metallurgical Group (MCC). Minmetals and MCC announced the start of the merger process in Beijing
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    • NEWS | 03 Jun 11:18
    • Brazil industrial output down for 26th straight month
    • Sao Paulo, 3 June (Argus) — Brazil's industrial production contracted by 7.2pc in April from the same month in 2015 as the country continues in deep recession, national statistics institute (IBGE) said. Production fell for the twenty sixth consecutive month against the same month a year
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    • NEWS | 03 Jun 11:10
    • OFZ Slovakia to start Si production in August
    • London, 3 June (Argus) — Slovakian ferro-alloys producer OFZ will start silicon production in August this year, delaying the switch at one of its ferro-silicon furnaces from April. The move follows a company plan to tackle low ferro-silicon prices in Europe, where there have been highe
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    • NEWS | 03 Jun 11:04
    • Elkem Canada FeSi output unaffected after landslide
    • London, 3 June (Argus) — Ferro-silicon production at Elkem Chicoutimi in Quebec, eastern Canada has avoided any interruption to production from a landslide after heavy rainfall at its plant in the past few days, a spokeswoman at Elkem's headquarters said. The plant, which has a product
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    • COMMENTARY | 03 Jun 10:45
    • LME aluminium and copper trade lower
    • London, 3 June (Argus) — London Metal Exchange aluminium saw high volumes of trade this week but prices within a narrow range as there was no major change in fundamentals. Copper prices traded lower on concerns over global demand for the metal. Three months aluminium futures traded at
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    • COMMENTARY | 03 Jun 10:41
    • LME zinc hits 10-month high, nickel rallies
    • London, 3 June (Argus) — London Metal Exchange (LME) zinc prices were at their highest in almost a year after technical indicators prompted high levels of speculative buying. Lead and tin followed zinc's lead while nickel traded in a narrow range. Three-month zinc briefly reached $2,00
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    • NEWS | 03 Jun 10:37
    • Chrome/PGM producer Tharisa to list on LSE
    • Johannesburg, 3 June (Argus) — Chrome and platinum group metals producer Tharisa has received approval to list on the London Stock Exchange and expects its shares to start trading on 8 June. The Cyprus-registered company will maintain its primary listing on Johannesburg's JSE Securities
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    • NEWS | 03 Jun 10:34
    • Paynes Find completes European Lithium due diligence
    • Johannesburg, 3 June (Argus) — Australia-based gold explorer Paynes Find has completed due diligence prior to the proposed acquisition of European Lithium AT which owns the Wolfsberg Lithium project in Austria. The company will now go to its shareholders for approval to acquire European
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    • NEWS | 03 Jun 10:16
    • Chinese Mn alloy producers cut output on falling prices
    • Beijing, 3 June (Argus) — Three large private-sector producers have cut output of manganese alloy because of falling prices and reduced demand. China's largest high-carbon ferro-manganese producer Shanxi Dongfang Resource halted one furnace several days ago, cutting its output to 30,000
    • Read more
    • COMMENTARY | 02 Jun 22:43
    • US aluminum scrap: Old cast prices rise
    • Houston, 2 June (Argus) — Old cast aluminum prices, a bellwether for smelter-grade scrap pricing, increased this week as consumers reported lower scrap availability. Old cast prices rose to 58-59¢/lb from 57-59¢/lb a week earlier, while old sheet aluminum prices stayed at 55-57¢/lb. Bot
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    • NEWS | 02 Jun 20:12
    • Plans stall to liberalise China futures markets
    • Singapore, 2 June (Argus) — China's plans to open up its futures markets to international trade have stalled amid scrutiny of its exchanges that have struggled to limit volatility. Crude and iron ore were selected as special commodities to attract offshore liquidity to contracts traded
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    • COMMENTARY | 02 Jun 19:51
    • US metcoal: Prices up on short supply
    • New York, 2 June (Argus) — Prices for US coking coal exports rose this week as supply concerns pushed steelmakers to lock in orders. Prices for US coking coal for delivery in the next 90 days fob Hampton Roads, Virginia, rose in Argus assessments this week. Prices for high-volatile
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    • COMMENTARY | 02 Jun 19:38
    • Turkish scrap: Discussions pick up slightly
    • London, 2 June (Argus) — Discussions picked up slightly between Baltic and Turkish mills today, but four US suppliers said they heard nothing from mills today, while a Baltic supplier received indications from two Turkish mills that they will be open to negotiations from either tomorrow
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    • NEWS | 02 Jun 19:25
    • Dow completes Dow Corning transaction
    • New York, 2 June (Argus) — Michigan-based specialty chemical and material manufacturer Dow finalized its $4.8bn purchase of Dow Corning this week from Corning. Dow Corning previously operated as a 50pc joint-venture between the two companies. Corning and Dow will equally split their ow
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    • NEWS | 02 Jun 17:51
    • UK's Savannah Resources expands into lithium
    • London, 2 June (Argus) — UK exploration firm Savannah Resources has expanded into lithium exploration with an application for reservation permits in southern Finland. The company will hold a 100pc interest in two lithium projects, Somero and Erajarvi, with Finnish govenment geological
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    • COMMENTARY | 02 Jun 17:47
    • US ferro-alloys: Rising steel output boosts FeTi
    • New York, 2 June (Argus) — US ferro-titanium prices rose for a second consecutive week amid a wave of steel mill restocking. US ferro-titanium (Ti 70pc) prices increased this week to between $1.70-1.80/lb from $1.68-1.75/lb a week earlier. Prices have rallied during the past two consecu
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    • COMMENTARY | 02 Jun 17:47
    • Stainless steel: Scrap mixed in Europe, Asia
    • Houston, 2 June (Argus) — Stainless steel 316 scrap solids prices fell in Europe while 304 scrap held flat in Europe and Asia as exchange nickel traded in a tight range in a holiday-shortened week. Stainless steel scrap in Rotterdam and Germany fell to 61-62¢/lb for 316 scrap solids fro
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    • NEWS | 02 Jun 17:38
    • HBIS, Baosteel attack US probe
    • London, 2 June (Argus) — Chinese steel producers Hebei Iron and Steel Group (HBIS) and Baosteel this week criticised a US International Trade Commission (ITC) decision to launch an investigation into alleged illegal trade practices, threatening to call on the Chinese government for suppo
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    • ANALYSIS | 02 Jun 17:20
    • Struggling Brazilian steelmakers face tough choices
    • London, 2 June (Argus) — The challenges facing Brazil's steel sector are prompting domestic metal and feedstocks producers to take difficult decisions, with major companies selling off assets and cutting costs. Brazilian crude steel production dropped by 20.6pc on the year to 2.3mn t in
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    • NEWS | 02 Jun 17:19
    • Power outage impedes steelmaking at Arcelor facility
    • Houston, 2 June (Argus) — ArcelorMittal's Burns Harbor facility, located in Indiana near Lake Michigan, experienced a steam tube failure on 29 May which has impacted steelmaking. "A steam tube failure triggered a cascade of boiler shutdowns at ArcelorMittal Burns Harbor's power station
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    • COMMENTARY | 02 Jun 17:17
    • Nickel: LME price firms on Colombia strike threat
    • London, 2 June (Argus) — London Metal Exchange (LME) nickel traded slightly higher as the threat of a strike in Colombia dampened speculative selling triggered by weaker-than-expected Chinese manufacturing PMI data for May. Although the official Chinese manufacturing PMI was reported a
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    • NEWS | 02 Jun 17:15
    • US steel import licenses drop in May
    • Houston, 2 June (Argus) — US steel import licenses granted by the US Commerce Department were down by 17.1pc in May from the same month a year earlier, led by a drop in requests for line pipe. Licenses for all steel mill products fell to 2.6mn tonnes in May from 3.1mn t from the same mo
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    • COMMENTARY | 02 Jun 17:14
    • CIS pig iron: Market in disarray
    • London, 2 June (Argus) — The Black Sea pig iron market remains in a state of disarray this week, with buyers holding back in anticipation of Turkish scrap prices retreating further, and traders facing the possibility of suffering substantial losses when they are finally able to sell ship
    • Read more
    • NEWS | 02 Jun 15:23
    • Jinzhou Sing Horn halts chromium production
    • Beijing, 2 June (Argus) — China's Jinzhou Sing Horn only produced chromium metal for five days in May before halting production and the producer's future looks uncertain. Cash flow problems for Jinzhou Sing Horn, a subsidiary of private-sector Sing Horn group, have left it intermittent
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    • NEWS | 02 Jun 14:37
    • US, Canada aluminum demand up in first quarter
    • Houston, 2 June (Argus) — US and Canadian demand for aluminum ingot and mill products was up by 0.7pc in the first quarter of the year, compared to the same period in 2015. Shipments by domestic producers, plus imports, rose to 6.6bn lbs from 6.5bn lbs in the year-earlier period, accor
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    • COMMENTARY | 02 Jun 14:23
    • US ferro-alloys: FeV and FeMo surge, FeCr, FeSi flat
    • New York, 2 June (Argus) — Tight raw material supplies and firm demand boosted US ferro-molybdenum and ferro-vanadium prices this week. Meanwhile, prices for ferro-chrome, ferro-silicon, and manganese alloys largely balanced low-volume demand with stable near-term supplies. FeCr US hi
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    • NEWS | 02 Jun 13:36
    • GlobalMn alloy output mixed in April
    • GlobalMn alloy output mixed in April London, 2 June (Argus) — Global production of manganese alloys was mixed in April on a month-on-month and year-on-year basis, according to data from the International Manganese Institute (IMnI). Global silico-manganese production in April 2016 was 1.0
    • Read more
    • NEWS | 02 Jun 12:36
    • Indian Moil’s realization drops on Mn ore oversupply
    • Indian Moil's realization drops on Mn ore oversupply Mumbai, 2 June (Argus) — Indian state-controlled manganese ore producer Moil increased sales in the fiscal year ended 31 March 2016 despite a dip in output, but sales realization was dragged down by oversupply. Moil sold 967,000t of ma
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    • NEWS | 02 Jun 11:25
    • Rusal signs shipping deal with Maersk
    • London, 2 June (Argus) — Russian aluminium producer Rusal has signed a three-year letter of intent with container shipping firm Maersk Line for long-term cooperation in cargo container maritime shipping. Under the agreement Maersk will ship an estimated 10,000 containers a year of Rusa
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    • NEWS | 02 Jun 10:57
    • India to auction 108 non-coal mineral blocks
    • London, 2 June (Argus) — India plans to auction around 108 blocks of non-coal mineral in the current financial year ending March 31 2017. The blocks are being prepared for auction by the states in which they are located, and include iron ore, manganese ore, tungsten, molybdenum, copper
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    • NEWS | 02 Jun 10:25
    • Assays confirm Ni/Cu/Co system in Uganda
    • Johannesburg, 2 June (Argus) — Australian precious and base metals explorer Sipa Resources said today that strong assays have confirmed a nickel-copper-cobalt system at its Akelikango prospect in Uganda. The prospect is part of the Kitgum-Pader Base Metals Project in Uganda which also i
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    • NEWS | 02 Jun 10:24
    • JV created to build $238mn Cu/Au mine in Queensland
    • Johannesburg, 2 June (Argus) — Perth-based Altona Mining and China's Sichuan Railway Investment Group (SRIG) have agreed to form a joint venture to build a $238mn copper-gold mine at Altona's Cloncurry project in north-west Queensland. The joint venture will be called Roseby Copper and
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    • NEWS | 02 Jun 09:17
    • China’s Ningbo invests in new energy vehicle production
    • China's Ningbo invests in new energy vehicle production Beijing, 2 June (Argus) — Ningbo city in eastern China has put together a plan to rapidly develop its new energy vehicle (NEV) industry over the next five years. Ningbo, an industrial hub with a major port located in Zhejiang provi
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    • COMMENTARY | 01 Jun 21:22
    • US aluminum: Premium dips on contract buying
    • Houston, 1 June (Argus) — The midwest premium for primary aluminum fell this week as consumers with flexible contracts took delivery of maximum allowed volumes rather than purchasing metal on the spot market. The premium decreased to 7.5-7.9 ¢/lb from 7.75-8 ¢/lb a week earlier. Despit
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    • NEWS | 01 Jun 20:50
    • US copper scrap: Spreads drop ahead of summer slowdown
    • Houston, 1 June (Argus) — No. 1 bare bright scrap price spreads narrowed by 1¢/lb this week as demand is expected to weaken with the seasonal summer slowdown. Consumer buying price spreads for bare bright were at 1¢/lb over July to 2¢/lb under delivered Wednesday, from 2¢ over to 1¢/lb
    • Read more
    • COMMENTARY | 01 Jun 20:45
    • US copper: Premiums steady amid lackluster demand
    • Houston, 1 June (Argus) — US copper cathode premiums remained unchanged this week as spot demand was soft ahead of seasonal maintenance outages at smelters, mills and factories. Cathode grade A premiums were at 5.75-6.75¢/lb delivered midwest consumer for the second consecutive week.
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    • NEWS | 01 Jun 20:11
    • US car sale rate up slightly in May
    • Houston, 1 June (Argus) — The pace of US retail auto sales climbed by 0.2pc in May to an annual rate of 17.45mn units, continuing to rebound from March's yearly low of 16.57mn units. Sales of light vehicles last month were up from an annual rate of 17.42mn units in April, according to
    • Read more
    • NEWS | 01 Jun 20:04
    • US sets preliminary duties of 113pc on Vietnamese pipe
    • Houston, 1 June (Argus) — The US Commerce Department today levied preliminary antidumping duties as high as 113.2pc on circular welded carbon-quality steel pipe from some Vietnamese producers, and set lower duties on the products from the UAE, Oman and Pakistan. While Vietnamese produce
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    • COMMENTARY | 01 Jun 19:14
    • US aluminum scrap: UBC spreads flat
    • Houston, 1 June (Argus) — Used aluminum beverage can spreads were flat Wednesday from a week earlier as consumers were confident in short-term supply. Consumers continued to buy UBCs at 77-78pc of the Argus midwest transaction price. Outright prices remained at 60-61¢/lb, flat from
    • Read more
    • NEWS | 01 Jun 19:08
    • Avanco mulls opening second Brazil copper mine
    • Sao Paulo, 1 June (Argus) — Australia's Avanco Resources is considering opening a non-commercial scale copper mine in Brazil's northern Pará state as part of a start-up strategy aimed at responding to a future recovery in prices. Executives are mulling a number of options for the site,
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    • COMMENTARY | 01 Jun 18:59
    • US aluminum scrap: UBC spreads persist
    • Houston, 1 June (Argus) — Used aluminum beverage can spreads were flat Wednesday from a week earlier as consumers were confident in short-term supply. Consumers continued to buy UBCs at 77-78pc of the Argus midwest transaction price. Outright prices remained at 60-61¢/lb, flat from
    • Read more
    • NEWS | 01 Jun 18:51
    • Colombia nickel miners poised to strike
    • Bogota, 1 June (Argus) — The majority of unionized workers at Colombian nickel mine Cerro Matoso are likely to go on strike as soon as tomorrow, according to the results of a union ballot. Cerro Matoso, controlled by Australian resources firm South32, said the union Sintracerromatoso is
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    • NEWS | 01 Jun 18:37
    • BIR: Chinese rebar futures pressure scrap
    • London, 1 June (Argus) — Short positions taken by Chinese traders on the Shanghai rebar futures exchange in recent weeks are one of the main downward pressures on the global deep-sea scrap market, and need to be watched daily, chairman of the Bureau of International Recycling Bill Schmie
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    • COMMENTARY | 01 Jun 18:04
    • US minor metals: selenium rallies, indium struggles
    • New York, 1 June (Argus) — US indium prices were flat this week as thin producer margins were offset by weak spot trading. Indium ingot (In 99.99pc) prices were stable between $220-250/kg this week, unchanged for a sixth week. The market has bottomed out, balancing small-volume demand w
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    • NEWS | 01 Jun 17:44
    • USSC outperforms independent business plan
    • Houston, 1 June (Argus) — Ontario-based US Steel Canada (USSC) has outperformed a court-approved, independent business plan aimed at transitioning the company away from reliance on US Steel for services and operational needs. USSC shipped 173,252t of steel in April, which was 38,661t,
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    • NEWS | 01 Jun 17:26
    • Amur Minerals completes drilling programme
    • London, 1 June (Argus) — Russian mining company Amur Minerals has completed a first set of drill results from its Maly Kurumkon/Flangovy nickel-copper deposit which showed that the initially identified 1,900-metre long high-grade zone stretches for another 300m. The drilling started on
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    • NEWS | 01 Jun 17:24
    • US factory activity grows for third month: survey
    • Houston, 1 June (Argus) — Manufacturing activity in the US accelerated in May, marking a third month of expansion following five months of contraction. The Institute for Supply Management's manufacturing purchasing managers' index (PMI) came in at 51.3 in May, compared with 50.8 in Apri
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    • NEWS | 01 Jun 17:15
    • Ta, Nb powders boost H.C. Starck revenue
    • London, 1 June (Argus) — German advanced materials manufacturer H.C. Starck reported a 4pc increase in revenue in the 2015 financial year helped by growth in its tantalum and niobium powders business. Group revenue increased to €815.2mn ($909.4mn) from €785.9mn in 2014 despite a difficu
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    • NEWS | 01 Jun 17:08
    • Norilsk Nickel completes second phase of Talnakh
    • London, 1 June (Argus) — Russia-based Norilsk Nickel has completed the second phase of the reconstruction of the Talnakh concentrator which is designed to increase total production from 7.6mn t/yr to 10mn t/yr. The work included extending the main building of the factory and installing
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    • NEWS | 01 Jun 17:02
    • Almonty mounts full takeover bid for ATC
    • Sao Paulo, 1 June (Argus) — Canada-based tungsten producer Almonty Resources has said it has decided to go for a full takeover of Australia's ATC Alloys in Queensland because the opportunity that has now arisen makes business sense and the timing is right. In late April Almonty moved t
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    • COMMENTARY | 01 Jun 16:59
    • Aluminium: Premiums fall in Europe
    • Houston, 1 June (Argus) — Duty unpaid aluminium premiums fell in Europe amid thin trade and mounting concerns as summer outages at smelters, mills and automotive plants loom. The premium for P1020 duty unpaid aluminium fell to $65-75/t in-warehouse Rotterdam from $70-80/t the prior week
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    • NEWS | 01 Jun 16:42
    • Global Mn ore output extends gains in April
    • London, 1 June (Argus) — Global manganese ore production increased in April, extending gains from the previous month because of rising production in Africa and CIS countries. But world production was lower in April year on year, another drop from March year on year, said data from the In
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    • NEWS | 01 Jun 14:26
    • Germany researches photovoltaic roads
    • Hanover, 1 June (Argus) — A German research project on energy generation using road surfaces with integrated photovoltaics has reached a milestone, as researchers this week presented the first demonstration of a photovoltaic (PV) road. The project is based at RWTH Aachen technical unive
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    • NEWS | 01 Jun 12:31
    • Baotou’s output of RE new materials rises in 1Q
    • Baotou's output of RE new materials rises in 1Q Beijing, 1 June (Argus) — Baotou, one of the largest industrial cities in Inner Mongolia in northern China, has boosted output of rare earth new materials thanks to favourable policies, including financial subsidies. Production of permanent
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    • NEWS | 01 Jun 11:45
    • Wanfeng Meridian to invest in Mg auto parts project
    • Beijing, 1 June (Argus) — Wanfeng Meridian, a wholly-owned subsidiary of Chinese private-sector Zhejiang Wanfeng Auto Wheels plans to invest 341mn yuan ($52mn) in a project to produce magnesium auto parts in Xinchang in the eastern province of Zhejiang. Chinese aluminium wheel producer
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    • NEWS | 01 Jun 11:39
    • China's Sichuan Shimian increases FeCr output
    • Beijing, 1 June (Argus) — Chinese private-sector ferro-alloy producer Sichuan Shimian Dele Electrometallurgy increased production of high-carbon ferro-chrome to 4,500t in May from 3,000t in April on higher prices and falling production costs. The Sichuan-based company is one of China's
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    • NEWS | 01 Jun 10:41
    • Dakota acquires rights for lithium in Portugal
    • Johannesburg, 1 June (Argus) — Australian lithium explorer Dakota Minerals has acquired rights to three lithium prospecting areas in Portugal as it seeks to take advantage of growing electrical vehicle use in Europe. The areas focus on Serra de Arga, Barraso-Alvao and Almandra- Barca de
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    • NEWS | 01 Jun 10:39
    • Australia's Teena biggest Zn/Pb find in 20 years
    • Johannesburg, 1 June (Argus) — Perth-based Rox Resources has announced a maiden mineral resource at the Teena zinc-lead prospect in Australia's Northern Territory, declaring it the largest and highest grade zinc-lead find in the country for more than 20 years. The company said a maiden
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    • NEWS | 01 Jun 09:16
    • China’s Qinghai to build Ni-Co-Cu processing plant
    • China's Qinghai to build Ni-Co-Cu processing plant Beijing, 1 June (Argus) — China's Qinghai Huanghe Mining has obtained government approval to build a concentration plant for its Xiari Hamu nickel-cobalt-copper mine, with construction to begin in August. The mine, located in Qimantage
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    • NEWS | 01 Jun 08:55
    • India’s Nava Bharat’s hikes FeCr output and cuts SiMn
    • India's Nava Bharat's hikes FeCr output and cuts SiMn Mumbai, 1 June (Argus) — BSE-listed ferro-alloy producer Nava Bharat Ventures (NBVL) cut production of silico-manganese in the fourth fiscal quarter ended March 31 2016. But output and sales of ferro-chrome rose throughout the year, ma
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    • NEWS | 01 Jun 08:23
    • China to push forward Ti dioxide industry consolidation
    • Beijing, 1 June (Argus) — China will accelerate the consolidation of its large and fragmented titanium dioxide industry in the next three to five years with the number of producers cut to 30 from 42, director of the titanium dioxide branch of the national chemical industry productivity p
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    • NEWS | 31 May 22:05
    • Chile molybdenum output higher in April
    • Sao Paulo, 31 May (Argus) — Chile's molybdenum concentrate production was 4,103t in April, 21pc higher than the 3,391t produced in the same month a year earlier, data from the national statistics institute (INE) showed. But output was down by 14.4pc against the 4,792t produced in March.
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    • NEWS | 31 May 21:59
    • April storms, grades hit Chile copper production
    • Sao Paulo, 31 May (Argus) — Chile's copper concentrate production in April was down by 8.2pc against the same month a year earlier, data from the national statistics institute showed. Output was impacted by storms that battered central Chile and by lower grades at larger producing mines
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    • NEWS | 31 May 21:31
    • Essar Algoma closes second round of sales process
    • Houston, 31 May (Argus) — Indian-owned Essar Steel Algoma has finished the second phase of 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, received several bids for its f
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    • NEWS | 31 May 21:25
    • US raw steel production led higher by Great Lakes
    • Houston, 31 May (Argus) — US raw steel production increased by 1.1pc in the week ended 28 May from a week earlier, led by an increase in production in the Great Lakes that offset a decline in the south. Production for the latest week increased to 1.78mn net tons and capacity utilizatio
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    • NEWS | 31 May 20:52
    • Freeport-McMoRan sells Morenci stake to Sumitomo
    • Houston, 31 May (Argus) — Diversified US-based miner Freeport-McMoRan has completed its sale of a 13pc interest in its Morenci unincorporated joint venture in Arizona state to Sumitomo Metal Mining (SMM) for $1bn in cash. With the sale, the Morenci joint venture is now owned 72pc by Fre
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    • NEWS | 31 May 20:41
    • Cliffs plans to restart United Taconite by November
    • Houston, 31 May (Argus) — US-based iron ore producer Cliffs Natural Resources plans to reopen its United Taconite operation in October, and expects full production to resume by November. Pellet production at United Taconite will replace waning production at the company's Empire mine, wh
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    • COMMENTARY | 31 May 20:30
    • US aluminum scrap: Spreads narrow on demand
    • Houston, 31 May (Argus) — Mill-grade aluminum scrap spreads narrowed this week as consumers competed for tight spot material. Many mill-grades are consumed on high-volume contracts, and with US rolling mills and extruders operating at high capacity rates, tighter supply of material avai
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    • NEWS | 31 May 20:20
    • US tungsten imports shrink in first quarter
    • New York, 31 May (Argus) — US imports of tungsten concentrate for consumption declined by 13pc during the first quarter from a year earlier, led by a sharp fall in imports during February. The US imported 905t of tungsten concentrate in the first quarter, down from 1,040t a year earlier
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    • COMMENTARY | 31 May 18:58
    • US minor metals: weak demand pushes silicon down
    • New York, 31 May (Argus) — US silicon metal prices declined this week amid a lack of spot market demand and near-term oversupply. Silicon metal (Si 98.5pc) prices decreased to $0.92-0.94/lb this week from $0.94-0.96/lb a week earlier. The market has fallen for the first time since 28 Ap
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    • COMMENTARY | 31 May 18:56
    • US minor metals: cobalt balances small tonnage demand
    • New York, 31 May (Argus) — US high-grade cobalt remained flat this week amid stable LME pricing and small-tonnage demand. High-grade cobalt (Co 99.8pc) prices were unchanged between $11.00-11.75/lb this week. The market has flattened for two weeks on small-volume orders, following a 40
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    • COMMENTARY | 31 May 17:24
    • US Minor Metals: Se rises, Sb falls again
    • New York, 31 May (Argus) — US selenium prices increased for a second week amid tighter offshore supplies. Antimony continued to decline on the back of limited spot market demand. Antimony Prices for 99.65pc grade metal fell for the second consecutive week to $2.65-2.85/lb from $2.70-
    • Read more
    • COMMENTARY | 31 May 16:55
    • Copper: Cathode premiums flat in slow trade
    • Houston, 31 May (Argus) — Copper cathode premiums were unchanged in slow trading in Europe and Asia. Grade A copper cathodes held unchanged at $45-55/t in-warehouse Rotterdam for a second week, while off-grade cathodes were flat at $10-20 from the prior week, in a holiday-shortened week
    • Read more
    • NEWS | 31 May 16:21
    • Noranda Aluminum pushes back auction
    • Houston, 31 May (Argus) — Missouri-based Noranda Aluminum, which filed for Chapter 11 bankruptcy protection in the first quarter of 2016, has pushed back the date for the auction of its flat-rolled assets The auction will be moved to 29 June, after originally being scheduled for 2 June.
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    • COMMENTARY | 31 May 16:03
    • LME minors: Low key trading in line with physicals
    • London, 31 May (Argus) — London Metal Exchange (LME) molybdenum and cobalt are little moved this week, extending a pattern through May and reflecting a similar trend in the physical markets. LME molybdenum settled at a cash price of $14,800/15,300/t on 30 May, unchanged from a week earl
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    • NEWS | 31 May 15:53
    • ArcelorMittal, Cliffs sign pellet offtake agreement
    • Houston, 31 May (Argus) — Steelmaker ArcelorMittal USA and US iron ore producer Cliffs Natural Resources today reached a ten-year iron ore pellet purchase agreement. The agreement includes a minimum purchase of 7mn long tons (7.1mn metric tons)/yr of iron ore pellets, with the option fo
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    • NEWS | 31 May 12:07
    • Botswana only operating Cu mine hit by accident
    • Johannesburg, 31 May (Argus) — Botswana's only operating copper mine has been hit by an underground transport accident that has killed four miners and seriously injured six others. State-owned BCL said the mine shaft elevator accident took place on Sunday at the BCL mine which last year
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    • NEWS | 31 May 12:04
    • Orion flags Cu/Zn prospect near Prieska in S Africa
    • Johannesburg, 31 May (Argus) — Perth-based Orion Gold has confirmed strong copper and zinc mineralisation at the Masiqhame prospect close to Prieska in South Africa's Northern Cape province. The company said due diligence work for it to acquire a 73pc stake in the prospecting rights has
    • Read more
    • NEWS | 31 May 11:29
    • Atlantic completes Windimurra purchase
    • London, 31 May (Argus) — Australian mining company Atlantic has completed the acquisition of the Windimurra vanadium and iron ore project from its former subsidiaries. The acquisition was supported by an agreement with Atlantic's largest shareholder and creditor Droxford International,
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    • NEWS | 31 May 10:58
    • VSMPO expansion project gets regional backing
    • London, 31 May (Argus) — The government of Russia's Sverdlov region has included titanium producer VSMPO-AVISMA's project to modernise its ring rolling complex into its list of ten priority regional projects. The move means the project can benefit from regional government support, inclu
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    • NEWS | 31 May 10:23
    • China's leading tungsten firms mull more output cuts
    • Beijing, 31 May (Argus) — China's six leading tungsten producers will meet in Guangdong province on 7 June to discuss their production plans, the market outlook, and whether to implement more production cuts. The six producers, China Minmetals, Jiangxi Tungsten Group, Xiamen Tungsten,
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    • NEWS | 31 May 09:13
    • Xining Metals cuts FeSi export prices on weaker yuan
    • Beijing, 31 May (Argus) — China's leading ferro-silicon alloy exporter Xining Metals Group has cut its offer prices in response to depreciation of the yuan against the dollar. Xining Metals Group has lowered its offer prices to $990/t fob China for 72pc grade and $1,020/t fob China for
    • Read more
    • NEWS | 30 May 08:47
    • India's mineral auctions stutter
    • Singapore, 30 May (Argus) — India's non-coal mineral auctions have received a muted response, with 18 blocks left unsold. The federal government in November last year identified 70 blocks to be auctioned in the first phase of mineral auctions, of which 58 are either unsold or yet to be
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    • NEWS | 30 May 07:30
    • Alumina seeks clarity on Alcoa Australia JV
    • Sydney, 30 May (Argus) — Australia-listed firm Alumina Ltd is seeking to clarify the terms of its Australian joint venture with US aluminium producer Alcoa, in light of Alcoa's plan to split its upstream and downstream assets into two separate companies. Alcoa and Alumina are 60:40 part
    • Read more
    • ANALYSIS | 27 May 22:10
    • This Week in Metals: 23-27 May
    • Houston, 27 May (Argus) — Metal markets largely consolidated established price ranges this week as consumer purchasing looks beyond June to the third quarter. This was another short trading week in Europe, capped by regional holidays at the end of the week - and next week will be off to
    • Read more
    • COMMENTARY | 27 May 21:37
    • US stainless: Scrap falls with nickel weakness
    • Houston, 27 May (Argus) — Stainless steel scrap prices fell this week on the back of declines in nickel exchange prices. Processor buying prices for type 304 (18-8) scrap solids traded at $1,010-1,045/gt Friday, down from $1,030–1,120/gt a week earlier. Type 316 scrap solids traded at $
    • Read more
    • NEWS | 27 May 19:51
    • Tata Steel sees higher India prices for April-June
    • Singapore, 27 May (Argus) — Tata Steel forecasts its Indian sales prices to increase in the April-June quarter as protectionist measures by the Indian government are restricting imports. The company issued a guidance for a 3,000 rupees/t ($44.60/t) increase in its average product price
    • Read more
    • NEWS | 27 May 19:49
    • Turkish scrap: Steel market subdued
    • London, 27 May (Argus) — Turkish mills continued to hold back from the deep-sea scrap market today, with a several of them commenting that they have little need to purchase since they are well-stocked following recent deliveries. But mills may take note of the announcement of lowered pu
    • Read more
    • COMMENTARY | 27 May 19:21
    • EU secondary aluminium: Ingot flat
    • Houston, 27 May (Argus) — Secondary aluminium ingot prices were unchanged in European trade in the latest, holiday-shortened week amid relatively steady exchange trading. Concerns that auto production in Europe may slow in the second half of the year remain among aluminium and zinc ingo
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    • NEWS | 27 May 19:10
    • Codelco posts quarterly loss despite record output
    • Sao Paulo, 27 May (Argus) — Record first quarter copper production failed to prevent Codelco, Chile's state-controlled copper-molybdenum producer, from swinging to a $124.8mn loss for the period ended March. Codelco blames low copper and molybdenum prices for the loss, which compares to
    • Read more
    • COMMENTARY | 27 May 19:04
    • US aluminum scrap: Zorba export prices fall
    • Houston, 27 May (Argus) — US zorba export prices fell in the last week while other aluminum scrap prices were unchanged amid tepid activity and softening aluminum exchange prices. Zorba, 94pc metallic with 3-4pc red metal content, dropped to 61-63¢/lb Friday from 63-64¢/lb a week earlie
    • Read more
    • COMMENTARY | 27 May 18:47
    • US secondary aluminum: Alloy prices battle supply shift
    • Houston, 27 May (Argus) — Oversupply has begun to affect prices for some secondary aluminum alloys amid growing competition for non-exchange traded alloys. The availability of low-priced London Metal Exchange North American Specialty Aluminum Alloy Contract (Nasaac) material has effecti
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    • NEWS | 27 May 17:32
    • Furnace restarts threaten Chinese steel growth
    • London, 27 May (Argus) — Chinese steel demand will probably follow a downward path for the rest of this year, US investment bank Goldman Sachs said. The recent rebound in steel prices and production activity has disrupted the industry's typical, seasonality pattern. "Too many blast furn
    • Read more
    • NEWS | 27 May 16:49
    • WEEK IN REVIEW: Setting the stage for summer
    • London, 27 May (Argus) — Metal markets largely consolidated established price ranges this week as consumer purchasing looks beyond June to the third quarter. It has been mixed news, with a long-awaited seen in molybdenum in response to cutbacks at Chinese producers that come on top of a
    • Read more
    • COMMENTARY | 27 May 16:29
    • US pig iron: Offers drop in attempt to revive sales
    • London, 27 May (Argus) — Suppliers of Russian and Ukrainian basic pig iron slashed offer prices this week in an attempt to revive interest from buyers, who were absent from the market due to a rapid decline in scrap and steel price sentiment. "Sellers are throwing out offers, lower pric
    • Read more
    • COMMENTARY | 27 May 15:57
    • US ferro-alloys: FeMn rises, SiMn firm on steel demand
    • New York, 27 May (Argus) — Prices for US high carbon ferro-manganese increased this week amid a rise in low-volume demand. High-carbon ferro-manganese (Mn 80pc, C 6-8pc) prices bumped up to between $810-860/gt this week from $810-850/gt a week earlier. The market increased for the first
    • Read more
    • NEWS | 27 May 15:20
    • EU approves Anheuser-Busch, Miller deal
    • Houston, 27 May (Argus) — The European Commission has given Belgium and Brazil-based Anheuser-Busch InBev, the world's largest brewer, conditional regulatory clearance to acquire SAB Miller, the world's second largest brewer. The commission will require Anheuser-Busch to sell "practical
    • Read more
    • NEWS | 27 May 14:21
    • Cameco, Kazatomprom expand uranium JVs
    • London, 27 May (Argus) — Canadian uranium miner and processor Cameco and Kazakhstan's state-owned uranium miner Kazatomprom have signed an agreement to extend their co-operation to 2045. The new agreement signed at the Foreign Investment Council in Astana on Friday, which replaces an Mo
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    • NEWS | 27 May 14:16
    • Pertama targets first ferro-alloys output
    • London, 27 May (Argus) — Pertama Ferroalloys is targeting a start to production at its Malaysian ferro-alloys plant in June this year, delaying the start from May, according to the project's major stakeholder, Hong-Kong based private-sector firm Asia Minerals. Pertama, which was founded
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    • COMMENTARY | 27 May 11:53
    • LME copper, aluminium trade in narrow range
    • London, 27 May (Argus) — Prices for London Metal Exchange (LME) copper and aluminium futures changed little on the week with copper trading a little higher and aluminium trading within a $10/t range. Volumes were a touch lower than usual as Europe was closed for a holiday on Thursday. T
    • Read more
    • NEWS | 27 May 11:51
    • Latin American steel consumption and output slump
    • London, 27 May (Argus) — Latin American steel consumption and production came under pressure in the first quarter of this year from weak global and regional economic growth, global steel market overcapacity and a relatively weak industrial performance, Latin American steel association Al
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    • COMMENTARY | 27 May 11:49
    • LME nickel, lead, tin lower, zinc higher
    • London, 27 May (Argus) — London Metal Exchange (LME) nickel, lead and tin futures traded lower this week on a combination of speculative and fundamental selling but zinc prices increased. Three-month nickel futures traded at $8,430/t on 27 May, down from $8,585/t a week earlier, on vol
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    • NEWS | 27 May 11:38
    • Eramet posts steady sales of Mn ore in 2015
    • London, 27 May (Argus) — French mining and metals company Eramet Group posted steady ore sales at its manganese division, Eramet Manganese, in 2015 year on year, with sales steady at €1.43bn and positive current operating income at €58mn despite lower ore prices that fell 49pc in 2015.
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    • NEWS | 27 May 11:23
    • Indsil to restart Andhra Pradesh ferro-alloy unit
    • Mumbai, 27 May (Argus) — BSE-listed ferro-alloy producer Indsil Hydro Power and Manganese plans to resume production at the Garbham plant in the southeastern Indian province of Andhra Pradesh by September. The plant has a capacity of 7,200 t/yr and has been idle for about a year. It wil
    • Read more
    • NEWS | 27 May 10:47
    • Largo plans vanadium output to suit market needs
    • Sao Paulo, 27 May (Argus) — Canada's Largo Resources has said it plans to tailor vanadium production from the Maracás Menchen mine in Bahia, northeast Brazil to the needs of the market. This comes as the company unveils a new mine plan, a 40pc increase in mineral reserves for the Campbe
    • Read more
    • NEWS | 27 May 09:45
    • India reinstates 30pc export duty on chrome ore
    • Mumbai, 27 May (Argus) — India has reimposed export duty on chrome ore and concentrate, which was cancelled on 1 March, at the previous rate of 30pc, citing the national interest. India's central customs agency issued a notification yesterday, reimposing the duty by removing a 1 March a
    • Read more
    • NEWS | 27 May 08:56
    • China manganese ore port stocks up
    • Beijing, 27 May (Argus) — Manganese ore stocks at China's main ports increased to 1.683mn t today, up by 7.8pc from 1.562mn t on 22 April. There are 1.4mn t of manganese ore stocks at Tianjin port, 250,000t in Qinzhou port, 15,000t in Fangcheng port, 7,000t in Beihai port, 6,000t in Zha
    • Read more
    • NEWS | 26 May 21:42
    • USITC allows section 337 steel investigation
    • Houston, 26 May (Argus) — The US International Trade Commission (ITC) will launch an investigation into allegations that Chinese steel producers have violated section 337 of the Tariff Act of 1930, possibly resulting in a ban on imports of all Chinese carbon and alloy steel products. Th
    • Read more
    • COMMENTARY | 26 May 21:12
    • US aluminum scrap: Smelter-grade prices mixed
    • Houston, 26 May (Argus) — Secondary aluminum smelter-grade scrap prices were mixed Thursday as London Metal Exchange aluminum rose by less than 1¢/lb from a week earlier and scrap dealers prepared for lower ferrous scrap prices. Some market participants are concerned that softening ferr
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    • NEWS | 26 May 20:09
    • Miners bemoan Mexico fuel tax
    • Mexico City, 26 May (Argus) — A fuel tax is hindering implementation of a key aspect of Mexico's energy reform, impacting the mining industry and other key sectors of the economy. Under the reform, which was enacted in 2014, Mexico's energy secretary has issued new permits this year to
    • Read more
    • COMMENTARY | 26 May 19:54
    • Stainless steel: Scrap falls in Europe, Asia
    • Houston, 26 May (Argus) — Stainless steel scrap prices fell this week as nickel prices on the London Metal Exchange declined for a third week. Stainless steel scrap in Rotterdam and Germany fell to 46-47¢/lb for 304 (18-8) material this week from 47-48¢/lb the prior week amid tight scra
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    • COMMENTARY | 26 May 19:49
    • Oil futures: Crude tops $50 for first time in 2016
    • Houston, 26 May (Argus) — Crude prices traded above $50/bl for the first time this year amid growing expectations that supply outages offset oversupply. Nymex July WTI rose to an intraday high of $50.21/bl, but ended 8¢/bl lower at $49.48/bl. Yesterday the contract closed at its highes
    • Read more
    • COMMENTARY | 26 May 19:00
    • US metcoal: Prices decline as competition heats up
    • New York, 26 May (Argus) — Prices of US coking coal for export declined this week as a strengthening US dollar gave Australian producers an advantage in international metallurgical markets. Prices for US coking coal for delivery in the next 90 days fob Hampton Roads, Virginia, fell in
    • Read more
    • COMMENTARY | 26 May 18:57
    • Europe FeTi: Tug of war on prices
    • London, 26 May (Argus) — The ferro-titanium market is seeing a pick up in demand and consumers, particularly outside Europe, have been restocking ahead of the summer and traders have started to rebuild inventories. But there is no shortage of competition, and some of the larger purchas
    • Read more
    • COMMENTARY | 26 May 18:40
    • Turkish scrap: Mills remain quiet
    • London, 26 May (Argus) — Turkish mills remained out of the scrap market today, holding off on making formal offers for scrap cargoes as uncertainties over prices for imported Chinese and CIS billet have emerged. The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment remained un
    • Read more
    • NEWS | 26 May 18:12
    • US, Canadian mill product orders rise in April
    • Houston, 26 May (Argus) — US and Canadian orders of aluminum mill products were up by 3.4pc in April from the same month a year earlier, an increase driven by gains in flat-rolled orders. Measured on an index prepared by the Aluminum Association, orders of aluminum mill products grew to
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    • COMMENTARY | 26 May 17:57
    • US ferro-alloys: FeTi rises with steel output
    • New York, 26 May (Argus) — US ferro-titanium prices increased this week on stronger domestic steel mill demand amid second-half contract negotiations with with mills. US ferro-titanium (Ti 70pc) prices rose this week to between $1.68-1.75/lb from $1.60-1.75/lb a week earlier. Prices hav
    • Read more
    • NEWS | 26 May 17:42
    • Transalloys to suspend SiMn production in June
    • London, 26 May (Argus) — South African ferro-alloys producer Transalloys, a wholly-owned subsidiary of Renova Group, will stop silico-manganese production for three months from 1 June this year because of difficult market conditions, a market participant said. Transalloys, which has the
    • Read more
    • NEWS | 26 May 17:32
    • Kyrgyzstan annuls tender for REE deposit
    • London, 26 May (Argus) — The government of Kyrgyzstan has annulled the result of a tender for two rare earth and rare metal deposits after the winner failed to come up with the payment. Kamal Oil, an oil and LNG logistics and engineering company based in Kazakhstan won the tender conclu
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    • NEWS | 26 May 15:39
    • US sets up to 451pc duties on corrosion-resistant steel
    • Houston, 26 May (Argus) — The US Commerce Department levied duties as high as 451pc on imports of corrosion-resistant steel for some Chinese producers, and reversed its preliminary decision to not levy duties on Taiwanese producers. The department, in its final determination late yeste
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    • COMMENTARY | 26 May 15:39
    • Europe Mn alloys: No change in lacklustre trading
    • London, 26 May (Argus) — Manganese alloys markets are unchanged this week, with suppliers unwilling to cut their offer prices despite a lack of consumer demand on an inter-merchant basis. Markets are in limbo until the expected return of European steelmakers next month that should reveal
    • Read more
    • COMMENTARY | 26 May 15:34
    • Europe FeSi: Spot market eases amid slack trading
    • London, 26 May (Argus) — European ferro-silicon market has eased in a range in spot trading this week, with suppliers cutting their offer prices to encourage buying interest. The market is seen holding at lower numbers until it becomes clear what consumers require for their quarterly nee
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    • COMMENTARY | 26 May 15:03
    • US ferro-alloys: FeMo surges, FeSi, FeMn edge higher
    • New York, 26 May (Argus) — US ferro-molybdenum prices strengthened this week, driven by tight supplies and firm steel mill demand. Meanwhile, prices for manganese alloys and ferro-silicon bumped up amid rising inquiries and slightly tighter inventories. FeCr US high carbon ferro-chrom
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    • NEWS | 26 May 12:56
    • India's Tata Steel reports higher 4Q FeCr sales
    • Mumbai, 26 May (Argus) — Indian Tata Steel's ferro alloy and mineral division reported a large increase in ferro-chrome alloy sales in the fiscal quarter ended March 31 2016, following the ramp-up of chrome ore mining at Sukinda, but prices remained low. Tata's ferro alloy and mineral
    • Read more
    • COMMENTARY | 26 May 11:12
    • Europe FeCr: HC moves higher, LC stable
    • London, 26 May (Argus) — European high-carbon ferro-chrome is up this week against a rise in the chrome ore market and cemented on higher consumption among domestic stainless steelmakers. There is also market expectation of higher offer prices from producers in South Africa through the s
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    • NEWS | 26 May 10:17
    • Avanco eyes 50,000 t/yr Cu output in 5 years
    • Johannesburg, 26 May (Argus) — Perth-based Avanco Resources expects to be producing around 50,000 t/yr of copper from its Antas and Pedra Branca projects in Brazil within the next four to five years. The company will this year produce around 12,000 t/yr of copper concentrate with 7,000
    • Read more
    • NEWS | 26 May 08:55
    • Chinese NEV subsidy probe creates doubt on Li demand
    • Beijing, 26 May (Argus) — An investigation into new energy vehicle (NEV) manufacturers fraudulently obtaining government subsidies has prompted production cuts and created uncertainty over the actual demand level for vehicle components, including lithium which is used in electric and hyb
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    • COMMENTARY | 25 May 22:47
    • US copper scrap: Bare bright maintains premium
    • Houston, 25 May (Argus) — US bare bright copper scrap spreads remained unchanged for a fifth week amid tight supply of material and tepid demand. Consumer buying price spreads for bare bright stayed at 2¢/lb over July to 1¢/lb under, in the latest week. Price spreads for No. 1 wire an
    • Read more
    • COMMENTARY | 25 May 22:43
    • US copper: Cathode premiums rise
    • Houston, 25 May (Argus) — US copper cathode premiums increased by 0.5¢/lb this week on scarcity of scrap and tight cathode inventories. Cathode Grade A premiums were at 5.75-6.75¢/lb Wednesday delivered midwest consumer, up from 5.25-6.25¢/lb a week earlier. Premiums were last at this l
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    • COMMENTARY | 25 May 22:38
    • US aluminum: Traders push for higher premiums
    • Houston, 25 May (Argus) — US traders have begun an effort to raise midwest premiums for primary aluminum based on a growing number of transactions at 8¢/lb. Offer prices peaked at 8.25¢/lb this week but no transactions were confirmed at that level. The Argus midwest premium for primary
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    • NEWS | 25 May 22:13
    • US bans imports from Indian stainless steelmaker
    • Houston, 25 May (Argus) — The US International Trade Commission has issued an order prohibiting imports of certain stainless steel products manufactured by India-based Viraj Profiles, based on violations of section 337 of the US Tariff Act. The order will remain in effect for 16.7 years
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    • COMMENTARY | 25 May 21:05
    • US aluminum scrap: UBC spreads flat
    • Houston, 25 May (Argus) — Used aluminum beverage can spreads were steady today as consumers remain well supplied for the short term. Consumers continued to purchase UBCs at approximately 78pc of the Argus midwest transaction price. Outright prices rose to 60-61¢/lb from 59-61¢/lb a wee
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    • COMMENTARY | 25 May 20:22
    • Aluminium: Premiums fall in slow trade
    • Houston, 25 May (Argus) — Aluminium premiums fell in European and Asian trading in the latest week amid slowing activity and concerns that summer plant outages signal more weakness ahead. The premium for P1020 duty unpaid aluminium fell to $70-80/t in-warehouse Rotterdam, down from $7
    • Read more
    • NEWS | 25 May 20:18
    • Houston steel imports, exports fall
    • Houston, 25 May (Argus) — Steel imports into the port of Houston fell by 74pc in April from the same month a year earlier, and were down by two-thirds year-to-date. Imports fell to 181,042net tons (164,238 metric tonnes) in April from 702,759nt a year earlier, according to data released
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    • COMMENTARY | 25 May 19:35
    • Oil futures: Crude climbs on US inventory drop
    • Houston, 25 May (Argus) — Crude prices touched new 2016 highs today, with both contracts ending just shy of the $50/bl mark, as US crude stockpiles posted a sharp fall. Nymex July WTI rose by 94¢/bl to $49.56/bl, gaining for a second day to its highest since 9 October when it ended at
    • Read more
    • COMMENTARY | 25 May 19:03
    • Turkish scrap: Russians join Ukrainians at lower levels
    • London, 25 May (Argus) — Turkish mills are yet to give any price indications to deep-sea scrap suppliers, suppliers said today. Even the two Turkish mills who previously stated that they would need to buy deep-sea scrap this week told suppliers today that they would have to wait for a fe
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    • NEWS | 25 May 17:33
    • Europe FeSi makers open 3Q talks with 12pc rise
    • London, 25 May (Argus) — European ferro-silicon producers have opened third quarterly delivery settlements with domestic steelmakers with an offer price rise of as much as 12pc, said market participants. The move follows an earlier than expected return to the market from steelmakers tha
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    • NEWS | 25 May 17:15
    • Boliden agrees €770mn credit facility
    • London, 25 May (Argus) — Swedish zinc and nickel producer Boliden has signed a syndicated revolving credit facility agreement for €770mn with 11 banks. The facility consists of a €362mn credit agreement with a three year term which replaces an existing facility of €400mn that matures i
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    • NEWS | 25 May 16:39
    • Canada finds injury in steel imports from China, Japan
    • Houston, 25 May (Argus) — The Canadian International Trade Tribunal (CITT) determined that imports of welded large diameter carbon and alloy steel line pipe from China and Japan have caused or are threatening to cause injury to domestic industry. The CITT determination, released yesterd
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    • NEWS | 25 May 16:29
    • US finished steel imports fall by a third
    • Houston, 25 May (Argus) — US imports of finished steel fell by 33.1pc in the first four months of 2016 compared to the same year-earlier period, led by falling imports from China, South Korea and Turkey, as US measures targeting dumping and subsidized shipments take effect. The US impo
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    • NEWS | 25 May 16:22
    • Samarco one step closer to reopening iron ore mine
    • London, 25 May (Argus) — Brazilian iron ore producer Samarco Mineracao has received approval from the municipal government of Mariana in the Brazilian state of Minas Gerais to restart operations at the Samarco iron ore mine this year, pending the receipt of further approvals from higher
    • Read more
    • COMMENTARY | 25 May 15:28
    • US minor metals: Selenium bumps, indium stable
    • New York, 25 May (Argus) — US indium prices were unchanged this week as thin producer margins offset minimal spot market demand. Indium ingot (In 99.99pc) prices were flat at $220-250/kg this week, unchanged since 22 April. An earlier push to raise prices on tighter offshore crude indiu
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    • NEWS | 25 May 13:44
    • German state to boost solar, photovoltaic investment
    • Hanover, 25 May (Argus) — The German state of Baden-Wurttemberg plans to boost investment in photovoltaic power and solar thermal energy. The state aims to subsidise small photovoltaic installations on apartment buildings' rooftops and a range of so-called "solar energy villages", which
    • Read more
    • NEWS | 25 May 13:09
    • Chinese rare earth exports up in April
    • Beijing, 25 May (Argus) — China exported 3,696t of rare earths in April, up by 47.5pc from 2,506t a year earlier. Export revenues totalled Yn145mn ($22mn) in April, a decline of 24pc year on year and average export prices fell by 48pc year on year to Yn39,231/t on falling prices caused
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    • NEWS | 25 May 13:09
    • Capesize scrapping reaches 64 ships
    • London, 25 May (Argus) — Dry bulk scrapping reached record rates in the first 20 weeks of the year to 20 May, with 64 Capesize vessels totalling 10.7mn deadweight tonnes (dwt) scrapped, according to shipbrokers. Only 8.8mn dwt of Capesizes and very large ore carriers (VLOCs — more than
    • Read more
    • NEWS | 25 May 11:56
    • Moil's profits slump on lower Mn ore prices: Correction
    • Corrects profit figures Mumbai, 25 May (Argus) — Indian state-controlled manganese ore producer Moil reported profit of 213.8mn rupees ($3.2mn) for the fiscal fourth quarter ended March 31 2016, down by 80pc year on year from Rs1.02bn, as manganese ore oversupply and low demand dragge
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    • NEWS | 25 May 11:14
    • Indian Moil's profits slump on lower Mn ore prices
    • Mumbai, 25 May (Argus) — Indian state-controlled manganese ore producer Moil reported profit of 21.38mn rupees ($3.2mn) for the fiscal fourth quarter ended 31 March 2016, down by 80pc year on year from Rs102.46mn, as manganese ore oversupply and low demand dragged down prices. Quarterly
    • Read more
    • NEWS | 25 May 11:11
    • Elkem restarts FeSi furnace after relining
    • London, 25 May (Argus) — Norwegian silicon and ferro-silicon producer Elkem has restarted production at one of its ferro-silicon furnaces that was shut down for five weeks to be relined, a company official said. The furnace was stopped last month and was restarted in May, with productio
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    • NEWS | 25 May 10:55
    • Ardiden flags Li potential at Canadian project
    • Johannesburg, 25 May (Argus) — Perth-based lithium and graphite explorer Ardiden has identified thick zones of pegmatite at its Root Lake lithium project in Ontario, Canada. The company said all eight drill holes from a recent drilling campaign intersected spodumene-bearing pegmatite s
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    • NEWS | 25 May 10:40
    • Codelco outlines smelters, water spending plans
    • Sao Paulo, 25 May (Argus) — Chile's state-owned copper and molybdenum producer Codelco has said it is investing $1.7bn into 24 smelter projects to modernise and bring its capacity into line with environmental rules over the next five years. More than a third of that money will be spent
    • Read more
    • NEWS | 25 May 10:36
    • China’s zirconium industry 'stuck in low gear'
    • China's zirconium industry 'stuck in low gear' Beijing, 25 May (Argus) — China's zirconium chemicals industry is stuck in low gear this year, leading producer Guangdong Orient Zirconic Industry's deputy general manager Huang Chaohua told delegates at the 8th Global Zircon Conference in Na
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    • NEWS | 25 May 09:43
    • FeCr producers in China’s Fengzhen face power shortages
    • FeCr producers in China's Fengzhen face power shortages Beijing, 25 May (Argus) — Ferro-chrome alloy producers in Fengzhen, Inner Mongolia, are struggling with power shortages following the commissioning of a 1mn t/yr stainless steel plant by Inner Mongolia Shangtai Industry at the end of
    • Read more
    • NEWS | 25 May 09:26
    • China unveils artificial intelligence plans
    • Beijing, 25 May (Argus) — The Chinese government has formulated a three-year plan for the development of artificial intelligence (AI) products, in line with the national strategy of developing downstream resource sectors and expanding output of value-added products. The plan targets the
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    • NEWS | 24 May 23:09
    • Petrobras probe expands to steel sector
    • Rio de Janeiro, 24 May (Argus) — Brazilian federal police have expanded the scope of a probe into corruption at state-controlled oil company Petrobras to include the local steel tube manufactures of at least three international steelmakers. Police today raided the offices of Apolo Tubu
    • Read more
    • COMMENTARY | 24 May 22:54
    • US aluminum scrap: Spreads widen on muted buying
    • Houston, 24 May (Argus) — Many mill-grade aluminum scrap spreads widened this week as market participants reported moderate flows and slow purchasing by consumers. Some scrap suppliers said current demand is similar to mid-summer lulls when mill and smelter outages temporarily drag on s
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    • NEWS | 24 May 21:54
    • Steel groups call on G7 to curb global overcapacity
    • Houston, 24 May (Argus) — Twelve global steel trade associations today called on G7 members to take concerted measures to curb steelmaking overcapacity and consequent market distortions. The associations aim to draw attention to China's dominant role in the global steel industry at a G7
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    • COMMENTARY | 24 May 19:41
    • Oil futures: Crude up on expected US inventory drop
    • Houston, 24 May (Argus) — Crude prices rose today as expectations of a fall in US oil inventory overshadowed the recovery in output from major exporters like Nigeria. Nymex July WTI rose by 54¢/bl to $48.62/bl, recouping all of the previous session's losses. Ice July Brent gained by 26¢
    • Read more
    • COMMENTARY | 24 May 19:04
    • Copper: Cathode premiums, scrap in mixed market
    • Houston, 24 May (Argus) — High-grade copper cathode premiums rose amid competitive trading in Europe while prices remained soft in Asian trade in thin trading. Grade A copper cathodes rose to $45-55/t in-warehouse Rotterdam from $40-50/t a week earlier. Off-grade cathodes traded at $10-
    • Read more
    • COMMENTARY | 24 May 18:30
    • Turkish scrap: May shipment cargoes arrive this week
    • London, 24 May (Argus) — Turkish mills remained on the sidelines today, still unsure of the direction Chinese and Turkish steel prices are headed. Given the overall bearish sentiment moving into the "soft" summer months, they prefer to wait until the picture is clearer, before buying scr
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    • COMMENTARY | 24 May 17:43
    • US minor metals: Silicon limited by low aluminum output
    • New York, 24 May (Argus) — US silicon metal prices were flat this week as suppliers rejected lower offers despite minimal spot market demand. US silicon metal (Si 98.5pc) prices were unchanged between $0.94-0.96/lb this week. The market has stayed within this range since 28 April suppor
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    • NEWS | 24 May 17:01
    • Brillion Iron Works nets new contracts
    • Houston, 24 May (Argus) — Wisconsin-based foundry Brillion Iron Works has secured $6.5mn in new business across multiple industries, including defense, industrial, municipal, automotive and commercial vehicle sectors. The company's latest contract is a long-term deal to provide flywheel
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    • NEWS | 24 May 16:56
    • DLA reoffers lower ferro-chrome volume for sale
    • New York, 24 May (Argus) — The US defense department's procurement arm the Defense Logistics Agency (DLA) reoffered 917short tons (st) of high carbon and two lots totaling 2.52mn lbs of low carbon ferro-chrome by net weight for sale today. The high carbon ferro-chrome lot contains 65.03
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    • NEWS | 24 May 16:54
    • Rusal taps States to head American operations
    • Houston, 24 May (Argus) — Moscow-based aluminum producer Rusal has appointed Scott States as president of the company's America division. States will be responsible for Rusal's American sales portfolio and joins the company from Century Aluminum, where he served as vice president of pro
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    • COMMENTARY | 24 May 16:51
    • US minor metals: Co prices flat on low-key demand
    • New York, 24 May (Argus) — US high-grade cobalt prices consolidated earlier gains this week amid stable small tonnage demand. High-grade cobalt (Co 99.8pc) prices held firm between $11.00-11.75/lb this week, unchanged after a 12.5¢/lb increase a week earlier. Slim producer inventories
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    • COMMENTARY | 24 May 16:50
    • US ferro-alloys: Low-key demand supports FeSi market
    • New York, 24 May (Argus) — US ferro-silicon prices were unchanged this week as negotiations continue for second-half contracts. Ferro-silicon (Si 75pc) prices were flat between 70-72¢/lb this week. Spot market inquiries have declined in recent weeks as steel mills relied on existing inv
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    • NEWS | 24 May 16:40
    • Cliffs reaches energy deal with Minnesota Power
    • Houston, 24 May (Argus) — US iron ore producer Cliffs Natural Resources has entered into multiple agreements to buy low cost-power from energy-provider Minnesota Power. Cliffs has received $31mn in cash as part of a long-term purchased power arrangement for its Northshore operation thro
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    • NEWS | 24 May 15:52
    • US stainless steel producers boost June surcharges
    • Houston, 24 May (Argus) — US stainless steel producers raised nickel-based surcharges for type 304 and 316 material for June shipments to reflect gains in nickel, ferrous and molybdenum prices, in a third consecutive hike. North American Stainless (NAS), AK Steel and Allegheny Technolog
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    • NEWS | 24 May 15:25
    • Nickel market deficit increases in March
    • London, 24 May (Argus) — The deficit in the global nickel market increased to 8,200t in March, data from the International Nickel Study Group showed. Global output of nickel stood at 164,000t while global usage was 172,300t. Demand in China increased by 33pc on the month to 91,300t a
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    • NEWS | 24 May 14:33
    • China’s Cisa seeks to ease steel trade frictions
    • China's Cisa seeks to ease steel trade frictions Singapore, 24 May (Argus) — The China iron and steel association (Cisa) is taking a conciliatory tone on the country's steel exports, in a departure from the government's sharp criticism of import duties imposes by the US and EU. China wan
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    • NEWS | 24 May 14:21
    • UBS leans towards higher iron ore prices
    • London, 24 May (Argus) — Swiss banking group UBS said tangible evidence of a recovery in China's real estate market and increased investment in infrastructure is lending weight to more optimistic assumptions about iron ore prices next year. UBS analysts think prices could average $50/t
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    • COMMENTARY | 24 May 14:12
    • US Minor Metals: Cd, Se edge higher, Sb falls
    • New York, 24 May (Argus) — Cadmium and selenium prices edged higher in the past week on tight offshore supply and producer margins respectively. But antimony and bismuth slipped on easing supply tightness. Antimony Prices declined to $2.70-2.90/lb this week from $2.80-3/lb a week earl
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    • NEWS | 24 May 13:00
    • China’s Erdos to cut ferro-silicon production
    • China's Erdos to cut ferro-silicon production Beijing, 24 May (Argus) — China's largest ferro-silicon alloy producer Erdos Metallurgy Group will halve monthly output to 50,000t from 100,000t next month in a bid to support margins. High production costs and low prices have squeezed the al
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    • COMMENTARY | 24 May 11:17
    • LME minors: Little movement in line with physicals
    • London, 24 May (Argus) — London Metal Exchange (LME) molybdenum and cobalt are steady this week, reflecting a trend of stability in the physical markets where both molybdenum and cobalt are consolidating a run of gains this quarter. LME molybdenum settled at a cash price of $14,800/15,3
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    • NEWS | 24 May 11:05
    • Alphamin starts infrastructure at DRC tin project
    • Johannesburg, 24 May (Argus) — Toronto-based mining company Alphamin Resources has started building infrastructure at its Bisie tin project in the Democratic Republic of Congo. The first permanent facilities are focused on safety training at the site as a precursor to mine development.
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    • NEWS | 24 May 11:03
    • Australia's Auroch buys Li project in Tanzania
    • Johannesburg, 24 May (Argus) — Perth-based gold explorer Auroch Minerals has acquired the Hombolo Lithium Project in Tanzania as it seeks to take advantage of a strong outlook for lithium and tantalum from the growing battery market. The company said the project area covers around 1,700
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    • NEWS | 24 May 10:37
    • Chinese magnet train to drive rare earths demand
    • Beijing, 24 May (Argus) — Chinese demand for neodymium iron boron (NdFeB) materials is expected to increase in the next few years following a breakthrough on the development a train that uses permanent magnet motors. China's leading railway transportation manufacturer, state-owned CRRC,
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    • NEWS | 24 May 10:33
    • Chile eyes move into rare earths production
    • Sao Paulo, 24 May (Argus) — Chile's government is eyeing a move for the country's mining industry into the production of rare earths as part of efforts to diversify and attract investment. Mining Minister Aurora Williams last week held talks with a delegation of officials from China's I
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    • COMMENTARY | 23 May 21:53
    • US zinc: Premiums unchanged
    • Houston, 23 May (Argus) — US zinc premiums were steady this week as business remained flat for mills and exchange prices fell. The US zinc premium was at 6.5-7.5¢/lb Monday delivered, unchanged for a fifth consecutive week. Sellers said they are not seeing signs of tightness in supply,
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    • ANALYSIS | 23 May 21:22
    • Copper demand growth outstrips production: ICSG
    • Houston, 23 May (Argus) — Global apparent use of copper rose by 9.3pc in February from the same month a year earlier, led by gains in China, while production of refined copper rose by 2.9pc and stockpiles grew by nearly 8pc. World refined usage rose to 1.77mn t in February from 1.62mn t
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    • NEWS | 23 May 21:21
    • Scholz wooed by Chiho-Tiande, KKR
    • Houston, 23 May (Argus) — Global recycler Scholz Holding's court supervised financial restructuring may include a debt acquisition by China-focused recycler Chiho-Tiande Group and an influx of capital from global investor and buyout firm KKR Credit. Nearly all secured lenders have accep
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    • NEWS | 23 May 19:56
    • US raw steel utilization breaks 75pc mark
    • Houston, 23 May (Argus) — US steel capacity utilization rose above 75pc for the first time since January 2015, as raw steel output rose by 1.7pc in the week ended 21 May from a week earlier. Output increased to 1.76mn net tons (1.6mn metric tonnes) from 1.7mn nt a week earlier as gains
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    • COMMENTARY | 23 May 19:49
    • Oil futures: Crude falls on rising supplies
    • Houston, 23 May (Argus) — Crude prices fell today amid prospects of rising supplies following a series of outages across major producers. Nymex WTI, which started trading July as the prompt-month today, fell by 33¢/bl to $48.08/bl. Ice July Brent dropped by 37¢/bl to $48.35/bl. The July
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    • ANALYSIS | 23 May 18:58
    • China’s copper imports set to weaken: Barclays
    • China's copper imports set to weaken: Barclays Houston, 23 May (Argus) — China's copper imports will weaken in coming months after a sharp decline in April, reflecting slowing economic growth and weak global prices, following a strong first quarter, UK bank Barclays said in its latest res
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    • COMMENTARY | 23 May 18:33
    • Turkish scrap: Market corrects almost $30/t
    • London, 23 May (Argus) — The Argus daily HMS 1/2 80:20 cfr Turkey steel scrap assessment moved down $26.40/t to $273.80/t cfr Turkey based on the latest market bid and offer indications. Market participants gave bid indications in a $250-260/t cfr Turkey range and offer indications in a
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    • NEWS | 23 May 18:13
    • Novelis commissions aluminum auto sheet line
    • Houston, 23 May (Argus) — Atlanta-based flat-rolled aluminum maker Novelis has commissioned a third automotive sheet finishing line at its Oswego, New York, facility. The plant's newest $120mn treatment line will produce high-strength aluminum sheet for the body and cargo box of Ford's
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    • COMMENTARY | 23 May 18:07
    • EU secondary aluminium: Prices flat
    • Houston, 23 May (Argus) — Secondary aluminium ingot prices were unchanged in European trading in the latest week amid high rates of production ahead of June maintenance shutdowns. In the UK, LM 6 and 25 prices remained at $0.97-1.02/lb this week, unchanged from the prior week. LM 24 rem
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    • NEWS | 23 May 17:22
    • US manganese imports shrink in January, led fall in ore
    • New York, 23 May (Argus) — Total US manganese ore and alloy imports fell by 32pc in January from a year earlier amid a sharp decline in ore supplies and fewer industry stockpiles from a year earlier. The US imported 53,900t of manganese products during January, down from 78,900t a year
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    • NEWS | 23 May 16:53
    • US Steel puts Gary Works’ blast furnace back online
    • US Steel puts Gary Works' blast furnace back online Houston, 23 May (Argus) — US Steel today said it has completed a scheduled maintenance outage at its No. 8 blast furnace at its Gary Works steelmaking facility in Indiana. Blast furnace No. 8 "is back to safe, reliable productivity fol
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    • NEWS | 23 May 16:45
    • China’s crude steel output slows in early May
    • China's crude steel output slows in early May Singapore, 23 May (Argus) — China's crude steel output fell in the first 10 days of May, potentially signalling an end to two months of sharp increases. Output over 1-10 May averaged 2.3mn t/d, down by 0.8pc from the preceding 10 days, China
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    • NEWS | 23 May 16:32
    • China claims exports do not damage US steel market
    • London, 23 May (Argus) — China's commerce ministry has issued a further rebuke of the US Commerce Department's decision to impose combined duties of 522.8pc on imports of Chinese cold rolled steel flat products, saying that Chinese material has not harmed the US domestic steel industry.
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    • NEWS | 23 May 16:24
    • Zimbabwe exports 29,000t of chrome
    • London, 23 May (Argus) — Zimbabwe has exported almost 29,000t of chrome ore at a value of about $2mn since the country lifted an export ban in June last year. About six smelting companies have been granted export licences to export chrome ore, said government and market participants. Th
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    • NEWS | 23 May 16:06
    • LME tin price drops $510
    • London, 23 May (Argus) — London Metal Exchange (LME) tin prices declined sharply