According to an official with the bourse, the London Metal Exchange (LME) is not ruling out the prospect of introducing contracts connected with Category II nickel. This comes despite the incident with the LME nickel contract back in March 2022. “We are focusing on the contract as we have it,” said Robin Martin, the bourse’s […]
Christopher Rivituso
Groundwater Pumping at South Crofty Cornish Mining to Begin in October
For years, the tin price index in Europe depended largely on foreign supply. However, Vancouver-headquartered Cornish Mining plans to start pumping out groundwater from its South Crofty tin project as early as October. The firm is currently preparing its mine water treatment plant, which can treat up to 25,000 cubic meters of water per day […]
Montenegrin Powerhouse EPCG Željezara Nikšić to Restart by 2024
Regional media reports state that Montenegrin specialty steels producer EPCG Željezara Nikšić aims to restart production by the end of 2023, possibly impacting steel prices. The facility went offstream in 2021, dramatically reducing steel output in the small Balkan country. Analysts remain eager to see how the restart might affect steel prices in the region. […]
UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs
The UK government and Mumbai-headquartered Tata Steel have reached a preliminary agreement over a funding package regarding the Port Talbot plant in South Wales. The package is part of a £1.25 billion ($1.55 billion) plan to decarbonize Port Talbot’s operations. However, concerns over jobs and the potential effect on local steel prices remain. A September […]
Scotland’s Last Steel Plate Mill on the Chopping Block? GFG Alliance’s Clydebridge Exit Plan
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 […]
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 […]
