GFG Alliance recently began marketing its Clydebridge steel plate mill near the Scottish city of Glasgow for sale. According to news reports, government body Scottish Enterprise sold Clydebridge as well as its nearby sister plate roller Dalzell to GFG in 2016, after previous owner Tata Steel mothballed the two plants in 2015. “Following a review […]
Christopher Rivituso
European Steelmakers Pursue €20 Hike on Steel Prices Amid Sluggish Demand
Steelmakers in Northwestern Europe are seeking an increase of €20 ($20) per metric ton on hot rolled coil. Market sources told MetalMiner that the hike in steel prices comes despite subdued demand for the flat rolled product going into September. “I think that they are trying to push up prices against input prices,” one source […]
Is the UK Government Playing Politics in the Tata Steel Port Talbot Transition?
Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given […]
Glencore’s Bid for Teck Resources Sparks Environmental Concerns
Glencore continues to express interest in a tie-up with base metals producer Teck Resources. Recently, the multinational commodity trader and mining company proposed steps to address the Canadian firm’s concerns over carbon exposure as a result of any merger. The main source of contention for the deal is Teck’s coking coal operation. “Glencore is fully […]
Glencore Acquires 56.25% Stake in Mara Copper and Gold Project
Multinational commodity trader and mining group Glencore will acquire a 56.25% stake in the Mara copper and gold project in Argentina. The Swiss-headquartered group struck the Deal with Canada’s Pan America. In a boost for Glencore stock, this agreement gives them sole ownership of the site. The deal stipulates that Glencore will pay Pan American […]
Ukraine’s Ferrexpo Sees Production Boost, Potentially Impacting Iron Ore Prices
Ukrainian iron ore producer Ferrexpo recently reported a 59% increase in its commercial production for H1. This figure, derived by comparing current numbers to the previous six months, has the potential to significantly impact global iron ore prices. Indeed, the total production of pellets and commercial concentrate for the first six months of 2023 came […]
Ukraine’s Metinvest to Build Steel Plant in Italy
Ukraine’s Metinvest plans to build a new steel manufacturing facility in Italy. Indeed, an official for the group recently confirmed reports of plans to build a plant in either that country or Bulgaria. “Many people talked about the fact that we are considering the possibility of building a new plant in Italy. Indeed, this is the […]
Liberty Steel Victorious, Acquires Hungary’s Dunaferr for $61 Million
Liberty Steel recently won a bid to take over Hungary’s Dunaferr. According to Hungary’s Ministry of Economic Development, a local court put the integrated flats producer into liquidation in late 2022. Liberty will pay €55 million ($61 million) for the Dunaferr plant, beating out India’s Vulcan Steel, Ukrainian group Metinvest, Swiss-based Trasteel Trading, and local […]
Chinese Mills Brace for Tough H2 Amid Insufficient Consumption, Falling Steel Prices
China’s major steelmakers recently warned of a “very challenging” H2 that could impact steel prices. As noted in news reports quoting the China Iron & Steel Association (CISA), this goes against earlier expectations of improvement in the sector. According to a June 30 report from Bloomberg, officials from China Baowu Steel Group, Ansteel Group, Hesteel, […]
Boliden’s Tara Zinc Mine on Hold Due to Dwindling Profits, Escalating Expenses
Plummeting zinc metal prices and rising energy costs recently prompted Boliden to place its Tara zinc mine on care and maintenance until further notice. “The business is currently cash flow negative due to a combination of factors,” the Swedish metals producer said. Officials went on to specify that these operational challenges included “a decline in […]