Opposition MP Sergey Bagratyan from the Prosperous Armenia (BHK) party suggests setting up an ad hoc committee to validate the report issued by Lydian Armenia, the gold developing company that seeks to resume operations at the Amulsar mine. “The figures in Amulsar operating Lydian Armenia’s reports, according to estimates of our experts, are highly exaggerated.…Details
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ArcelorMittal Kriviy Rih might be forced to suspend the operation of its mine named after Artem in case the duty for iron ore mining is increased according to the draft decree No. 1210 submitted to the Verkhovna Rada. “If the state wants raw materials processing to be 100%, it will be 100%. But then we…Details
Economic Times reported that Jindal Steel & Power Ltd MD Mr VR Sharma in an interview with ETNOW, while replying to a question “How much of your debt is coming up for maturing in FY20? What exactly is your plan to service the same?” said that “Debt is a financial mechanism. No industry will survive…Details
China's Dalian iron ore futures rose for a third session on Wednesday, boosted by falling shipments from big miners and hopes of further economic stimulus by the country, after it scrapped restrictions on two major inbound investment schemes. The most actively trade iron ore futures contract on the Dalian Commodity Exchange, for January 2020 delivery,…Details
GLOBAL LITHIUM WRAP: Chinese battery-grade lithium hydroxide prices soften on ample supply, weak demand ahead of holiday
Spot prices for battery-grade lithium hydroxide in China were down this week due to ample availability of the material and a lack of significant demand ahead of national holidays in the country to mark the Mid-Autumn Festival (September 13-15). Battery-grade lithium hydroxide prices across other global regions were similarly down, with participants citing wide availability…Details
Reuters reported that proceeds from a potential sale of Thyssenkrupp’s elevator division must stay with the group. A leading labor representative rejecting the idea of a special dividend for shareholders said that “We won’t let that happen. The steel unit needs sufficient funds just like the other business areas.” His remarks come a day after…Details
Sentiment in the European market for hot-rolled coil (HRC) has been gloomy in the week ended Thursday September 12 due to low demand, sources told Fastmarkets. While domestic prices have been relatively stable over the past week, buyers have been targeting lower prices and they expected the mills to slightly decrease their prices in the…Details
A global leader in special long steel SCHMOLZ + BICKENBACH lowered its earnings forecast for the 2019 financial year on the basis of the preliminary figures for the first eight months of 2019 available at the end of August. The company is now forecasting adjusted EBITDA of between EUR 70 million and EUR 100 million.…Details
Chinese iron ore futures rose for a second day on Tuesday on expectations the country will enact more economic stimulus measures that would boost steel demand in the world's largest consumer of the metal. The country plans to create favourable conditions for private Chinese companies and to improve the competitiveness of its manufacturing sector, as…Details
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval. HKEX’s £29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on…Details
JSW Steel has recorded a 13% drop in crude steel production in August 2019. JSW Steel informed BSE that crude steel production for August 2019 was at 1.25 million tonnes as compared to 1.45 million tonnes in the same period last year. Production of flat rolled products saw a decline of 13 per cent to…Details
SHANGHAI, Sep 12 (SMM) – Production of stainless steel in China grew in August for a second straight month, rising 2.93% from July to 2.6 million mt, showed an SMM survey.August’s output was 18.03% higher than the corresponding month of 2018.#300-series accounted for 1.23 million mt, up 5.13% from a month ago and 8.01% from…Details
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal’s forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions. Despite moderately low volumes at just over 6,000 lots exchanged by the close, nickel’s…Details