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The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity’s outright price fall by 2.6%. Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the…
DetailsIANS reported that in a setback for the mining industry, the government is set to reject a proposal to extend non-captive mining leases of companies that are expiring after completing 50 year period in March, 2020. Source of information
DetailsMANILA, Sept 16 (Reuters) – Chinese steel futures hit a 1-1/2-month high on Monday on hopes that Beijing will roll out more stimulus measures after latest economic indicators showed deepening slowdown in the world’s second largest economy. China’s industrial production grew at the weakest pace in 17-1/2 years in August, a sign of increasing weakness…
DetailsTurkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16. HRC exports Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne…
DetailsBusiness Line reported that the Steel Ministry would ensure that raw material demands of steel manufacturers, especially secondary steel producers, are met when the mining leases expire in 2020. Minister of Petroleum & Natural Gas and Steel, Mr Dharmendra Pradhan said that the Steel Ministry is working with Ministry of Mines for least disruption in…
DetailsJSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the…
DetailsIn January-August Ukraine produced 6.87 million tons of 6% moisture bulk coke, down by 6% YoY. In August deliveries of coking coal to by-product coke plants grew by 3% MoM, to 1.19 million tons, including 430 thousand tons of domestic coal, up by 10%, and 760 thousand tons of imported coal. In 8 months deliveries…
DetailsThe Northern Pipe Company has commissioned its fifth pipe-welding mill 16-51. The new mill will cover the growing demand for the cold-rolled and galvanized coils. The company will now also be able to increase small diameter pipes output to 70 thousand tons per year. (Ukrainian metal)
DetailsNGK Resurs has commissioned the Polyanka deposit. Some 600 employees have been hired. The company intends to produce around 1.5 tons of gold per year. Until autumn in test mode the company has obtained 330 kg of gold. During the first stage of the project, which is scheduled to last till 2025, the investor will…
DetailsUnder the project to develop the Yoshlik I deposit Almalyk Mining and Processing Works has assembled an EKG-15 M excavator and is assembling two more. So far the company has bought 15 excavators, including 13 EKG-15M and 2 EKG-10. The three excavators were received in August. The first was assembled in just 35 days as…
DetailsMost of the debut eurobonds issued by ChTPZ have been bought by investors from the Great Britain and Russia. ChTPZ placed eurobonds valued at $300 million with the interest rate of 4.5%. Gazprombank, Citi, J.P. Morgan, Societe Generale and Renaissance Capital acted as organizers. UK investors purchased 30% of the issue, from continental Europe –…
DetailsThe three-month nickel price on the London Metal Exchange was lower during morning trading on Monday September 16, retreating toward $17,300 per tonne, ignoring stock outflows that have brought on-warrant material down to its lowest level in eight years. Turnover has been moderate for the base metals complex so far this morning, with copper traded…
DetailsUkrzaliznytsia (Ukrainian Railways) has concluded 30 agreements with Metinvest-SMC LLC on the purchases of steel valued at 102.55 million UAH. In particular the company will supply carbon steel hot-rolled plates with the thickness of 3 to 20 mm at 20,760-21,137 UAH. Most of the agreements have the same price of 3.86 million UAH. Some are…
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