London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing’s (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid…Details
Business Line reported that JSW Steel will move the National Company Law Appellate Tribunal on Friday to seek immunity from the ongoing criminal fraud cases against Bhushan Power and Steel Ltd. JSW Steel is the new owner of Bhushan Power after it emerged the top bidder through the insolvency process. JSW Steel will also appeal…Details
Japanese trading house Mitsui & Co plans to expand its liquefied natural gas (LNG) and iron ore assets to meet growing demand in Asia despite signs of a slowing global economy amid a prolonged U.S.-China trade row, its senior executive said.
“Energy and natural re
The bulk scrap price fell below $270 per tonne after a lower Kanto auction result and increased European supply to the region. Key market participants in the region expect more price falls after the lower Kanto Tetsugen auction this week, with end users shying away from purchasing large quantities. Large quantities of European scrap meant…Details
Sergey Filipiev has been appointed Interpipe Niko Tube CEO from September 11.
He has been working at major metal enterprises for over 20 years.
Before coming to Interpipe he has been working at Chusovoy Iron and Steel Works (Russia).
Valeriy Karpyuk, who has been heading the company since 2017, has retired. (Ukrainian metal)
In July Russia exported 25.3 thousand tons of lead ore, down by 39.2% MoM, but up by 20% YoY. Deliveries to China dropped by 46%, to 22 thousand tons, and to Kazakhstan – from 939 tons to 345 tons. In January-July exports totaled 215.8 thousand tons, up by 27.2% YoY. In monetary terms since the…Details
In July Russia exported 33.5 thousand tons of refined copper, down by 1.2% MoM and by 42.9% YoY. Deliveries to China grew more than 2-fold, to 8.2 thousand tons, while to Germany dropped by 49%, to 3.3 thousand tons. In January-July exports totaled 373.9 thousand tons, down by 1.6% YoY. In monetary terms since the…Details
Izhstal has increased the power capacity of its foundry shop. This will increase the quality products output. The company has commissioned a new cable track for its steel-smelting furnaces. The length of the track was 1200 meters. Over 20 tons of cable have been laid. Izhstal plans to buy additional molding machines and the cold…Details
Zoloto Kamchatki has received the results of the independent estimate of the Kumroch gold deposit reserves. SRK Consulting estimated I&I reserves at 6.9 million tons of ore, containing 71.8 tons of gold and 107 tons of silver. Indicated reserves are 4.1 million tons of ore with the average gold content of 10.93 g per ton…Details
Karelsky Okatysh has resumed selling iron ore concentrate to Cherepovets Iron and Steel Works. This is one of the first projects carried under the Upstream program. With its help CherMK has considerably decreased buying the concentrate from the third parties. During the summer Karelsky Okatysh has shipped 357 thousand tons of concentrate to Cherepovets. 100…Details
The government has prolonged for 2 years the ban to export steel scrap, including pipes, rails, and elements of railroad and rolling stock.
Stainless steel scrap exports are allowed provided the contracts are registered with the Ministry of Economy not later than 5 days before shipping.
The ban was introduced in October 2018. (Ukrainian metal)
Russian businessman Maksim Vorobiev and his investment fund Amereus Group have purchased 3.00674% of shares of Kaz Minerals. The share of Vorobiev is 1.62043%, and of Amereus Group, wholly owned by Vorobiev, – 1.38631%. Vorobiev and the fund have bought the shares on the open market, so the shares of the major shareholders have remained…Details
The authorities of the Tambov region have decided to develop the Central titanium deposit themselves. The deposit is considered to be one of the largest in the world. The regional administration bought out the right to develop the deposit from VSMPO-Avisma in 2008. The license is expected to have been received by the end of…Details
In August Energomashspetsstal sold 460 tons of products to 10 Ukrainian companies. In particular, the buyers were Magma LLC, Furlender Windtechnology LLC, Mariupol Ilyich Iron and Steel Works, etc. The company is also engaged in the manufacture of spare parts for Kramatorsk wind plants. Last month EMSS shipped the 12th frame of the gondola with…Details
Kazakhstan mining company Eurasian Resources Group intends to implement a Bamin iron ore project in Brazil and is negotiating with several probable partners. The cost of the project is $2.6 billion, of which some $1 billion accounts for the construction of a railroad and a deep-sea port. The project was initiated in 2005, but was…Details
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
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