Base metals rise on prospects of easing coronavirus restrictions
SINGAPORE — Industrial metals prices advanced on Tuesday on hopes for a pick up in economic activity as some U.S. states laid out plans to ease coronavirus-driven restrictions. New York Governor Andrew Cuomo on Monday outlined a phased reopening of business activity in the U.S. state hardest hit by the COVID-19 pandemic, starting with select […]
Aluminium futures slip on muted demand
New Delhi, May 5 (PTI) Aluminium prices on Tuesday softened 0.23 per cent to Rs 130.85 per kg in futures trade as speculators cut bets amid subdued demand in spot market. On the Multi Commodity Exchange, aluminium for delivery in May contracts eased by 30 paise, or 0.23 per cent, to Rs 130.85 per kg […]
Aluminium falls towards 4-year lows on fears of oversupply
LONDON — Aluminum prices fell on Tuesday, with investors worried that a collapse in demand will cause huge oversupply, while other industrial metals rose as some countries eased coronavirus lockdown measures. Benchmark aluminum on the London Metal Exchange (LME) was down 0.5% at $1,475 a tonne at 1050 GMT, nearing a four-year low of $1,455 […]
Atlantic coking coal: Heavy supply drives down prices
US coking coal prices have taken another tumble this week, on lower Asia-Pacific transaction levels and weak buying interest outside of China. The Argus fob Hampton Roads assessments for low-volatile and high-volatile A coking coal fell today by $1.50/t to $107.50/t and $106.50/t, respectively, after shedding $10/t earlier in the week. The high-volatile B assessment is unchanged […]
Glencore’s fall in coking coal output softened by thermal coal
Glencore has greeted 2020 with a steep decline to its Australian coking coal production, but its thermal coal portfolio offset the blow. The company produced 1.8 million tonnes of coking coal in the first quarter of this year, a drop of 31 per cent from the prior corresponding period. The drop was blamed on mining […]
Iron ore wars: the fall of Vale and the rise of Rio Tinto
In the wake of the Brumadinho dam tragedy, Vale has lost its position as the world’s top iron ore producer. We consider what contributed to its decline, and how Rio Tinto has taken advantage of its struggles to become the industry’s new iron ore leader. Vale has finally lost its position as the world’s largest […]
Iran’s steel sections production capacity reaches 47m tons
The annual production capacity of Iranian steel sections producers has reached 47 million tons, while the figure was expected to reach 45 million tons by the current Iranian calendar year 1399 (started on March 20), IRNA reported. Based on the Industry, Mining, and Trade Ministry’s data, there are currently 148 steel section production units nationwide […]
Fortescue backs full steel ahead recovery with China
Fortescue Metals chief executive Elizabeth Gaines says China’s commitment to urbanisation and development will underpin iron ore demand and Australia’s recovery from the COVID-19 pandemic. Ms Gaines said steel inventories that built up in the March quarter were being drawn down as the weather improved in China. She said Chinese steel making continued to show […]
Viewpoint: Russia slowdown could increase steel exports
Russia’s construction output is likely to drop on the back of the Covid-19 outbreak, as is the case with many other countries. After a lacklustre 2019, which registered an average of 0.33pc construction growth per month, 2020 looked like it would be a stronger year — 1pc growth was recorded in January followed by 2.3pc […]
Trending stocks: Tata Steel share price gains over 1%
NEW DELHI: Shares of Tata Steel Ltd. traded 1.19 per cent up in Tuesday ‘s trade at 11:51AM (IST). Around 4819044 shares changed hands on the counter. The scrip opened at Rs 279.0 and touched an intraday high and low of Rs 279.9 and Rs 273.4 , respectively, in the session so far. Shares of […]
U.S. Steel plans layoffs
GRANITE CITY — U.S. Steel on Friday reported it plans to lay off several thousand employees nationwide, including about 700 at Granite City Works. However, a much smaller number is expected to be laid off. On Friday, a Worker Adjustment and Retraining Notification Act notice was received by the Madison County Board office. The federal […]
Tata Steel leaves Indian Steel Association after company’s chief steps down as President
Tata Steel has left the Indian Steel Association (ISA), an apex steel industry body, the company announced on Tuesday. Subsequent to it, Tata Steel’s CEO and Managing Director (MD) T V Narendran has also stepped down from the Presidentship of the Association. His tenure was scheduled to end in August. A Tata Steel spokesperson confirmed […]
