Countries

Indonesia sets Newmont deadline for Freeport smelter deal

Reuters – Newmont Mining Corp’s Indonesian copper export permit will not be renewed beyond March 19 unless it strikes a deal with Freeport-McMoRan Inc to invest in the latter’s planned smelter, a mines ministry official said on Monday. Southeast Asia’s largest economy is in talks with miners about their plans ...

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USA: Kobe Steel considers $800 million U.S. aluminium plant for car supplies

japantimes – Kobe Steel Ltd., supplier of aluminum sheet to half of the nation’s auto industry, is considering building a ¥100 billion plant in the U.S. to expand sales to Japanese carmakers operating in North America. The prize is an expected tenfold increase in demand for aluminum sheet in the ...

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Russian tin ingot prices go down

The LME tin cash settlement price fell by USD180/t to USD17,920/t last Friday 27 February, and Russian traders followed the trend and lower their offers for tin ingot, Insiders stated. A Russian trader with a sales volume of 20t of tin ingot per month claimed that they had less than ...

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Alba’s Annual General Meeting announces approval for 2014 cash dividends

Aluminium Bahrain B.S.C. (Alba), held its Annual General Meeting ‘AGM’ on Sunday, March 01, 2015 at Al-Dana Hall, Aluminium Bahrain, Askar, during which approval was given to the distribution of cash dividends related to the fiscal year 2014.   The total dividends for the fiscal year 2014 amounted BD 38.2 ...

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US steel prices tumble in February

WSJ – Domestic steelmakers in the US slashed prices in February to cope with a flood of imports juiced by the strong dollar, a move that will pressure their profit margins and reduce costs for buyers of steel, including auto makers. According to figures released Wednesday by the American Iron ...

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India : Govt hikes import duty on steel to protect domestic firms

Business Standard – To protect homegrown companies from rising steel imports, government today increased the basic customs duty on the metal to 15 per cent. The government also cut the special additional duty on metal scrap from 4 per cent to 2 per cent in the Budget for 2015-16. “Tariff ...

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European aluminum alloy prices soar on high demand, tight availability

Platts – Market prices for Europe’s key grade of aluminum alloy, 226, have soared higher on continued high levels of demand and tighter availability as a number of buyers have come into the market for second-quarter supplies. Platts weekly assessment of standard 226 grade spot Friday increased to Eur1,850-1,900/mt ($2,098-2,155/mt) ...

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2014 Aluminium Production in the GCC

  GAC – Collectively the five aluminium companies (EGA, Alba, Ma’aden, Qatalum and Sohar Aluminium) produced 4,928,143 tons of primary aluminium in 2014 compared to 3,748,616 tons in 2013, an increase of 31%. GCC Aluminium production constitutes 10% of the total world production. The main increase has come from Ma’aden ...

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World Steel Association launches new publication

The World Steel Association (Worldsteel) has published Steel in the Circular Economy – A Life Cycle Perspective, which demonstrates the role that steel plays in delivering sustainability to the economy. The publication also calls for re-examining the regulations in all market sectors across every region. Worldsteel says the publication demonstrates ...

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MMK increases steel shipments to shipbuilders

  MMK – OJSC Magnitogorsk Iron and Steel Works (“MMK” or “the Company”) supplied 78 ths tonnes of metal products to shipbuilders in 2014, which represents a 37.2% growth y-o-y. MMK has a successful and long-standing track record with the shipbuilding industry. The Company supplies up to half of all ...

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