Johannesburg-listed metals and mining multinational Sibanye-Stillwater recently launched a bid to acquire all shares in Australian zinc miner New Century Resources. Sibanye-Stillwater currently holds a 19.9% stake in NCR. Meanwhile, zinc price movements continue to ebb and flow between the A$4400 ($3,000) and A$5200 ($3,500) range per ton. “The proposed takeover is in line with […]
Category: Commodities
Turkey’s MMK Metalurji Resumes Steel Production After Earthquake
Turkey’s MMK Metalurji is resuming steel production following several major earthquakes that rocked the country’s southern and central regions. The first two earthquakes occurred on February 6th, while another smaller quake occurred on February 20th. That same day, Russian parent company Magnitogorsk Iron & Steel (MMK) declared that specialists inspected the production site and units […]
Chinese Steel Production Firm Baowu Pursues Rio Tinto’s Iron Ore
New developments continue to signal coming improvements in Chinese steel production. Among these is a forecast of prospects for the country’s vehicle sector and shipyards. This would ultimately thaw out the Sino-Australian relationship. One of the world’s biggest steelmakers, China’s Baowu Steel Group Corp., is keen to seek closer ties with Aussie iron ore miner […]
How ERP Systems Impact the Steel Industry: A Discussion by EOXS
MetalMiner’s own CEO Lisa Reisman caught up with Ravi of EOXS to discuss how ERP systems aid the steel industry, including both steel service centers and distributors. Currently, MetalMiner is looking to add ERP solutions to its metal price forecasting platform, MetalMiner Insights. EOXS, who specializes specifically in integrating ERP solutions into steel service centers, […]
Capitiano Tailored Automation and Pomini Upgrade Ovako’s Steel Bar Mill
Steel news sources report that Italy’s Capitiano Tailored Automation (AIC) has partnered with Pomini Long Rolling Mills. Together, the companies signed an agreement with Swedish specialty steels group Ovako to modernize the company’s Hällefors bar mill. In a February 9 statement, AIC explained the details of the contract. First and foremost, it stipulates that AIC […]
Construction MMI: Bar Fuel Surcharges Drop, Steel Prices Edge Up
The Construction MMI (Monthly MetalMiner Index) traded sideways, rising by just 1.97%. The index was pulled in multiple directions month-over-month, resulting in a lack of major movements. For instance, bar fuel surcharges dropped, while steel rebar, h-beam steel, and sheet aluminum all went up. This recent rise in steel prices has left the index facing […]
Several Turkish Steel Mills Suspending Operations After Earthquake
Several steel mills in central and southern Turkey have suspended operations, declaring force majeure. The decision comes after two earthquakes struck those areas and Syria on February 6. Flats and longs producer Isdemir, in Iskenderun, Hatay Province, said in a February 13 announcement that it is currently performing assessments. “Production has been suspended until the […]
Stainless MMI: Nickel Prices Return Sideways
The Stainless Monthly Metals Index (MMI) rose 5.82% from January to February as the nickel price index lost upward momentum. Nickel prices returned sideways in the short term after finding a peak in January. Since the price has not bounced high enough to confirm an uptrend, downside risk may increase. Meanwhile, volume levels appear at […]
Automotive MMI: Car Inventories Return, but Consumers Do Not
The Automotive MMI (Monthly MetalMiner Index) rose slightly higher than in previous reports. Month-over-month, the index went up by 5.08%. Automobile inventories may be rising, but consumers are much more reluctant to purchase than they were six months ago. With interest rates still climbing, more and more consumers continue to steer away from vehicle purchases. […]
Raw Steels MMI: U.S. Steel Prices Continue Uptrend
U.S. steel prices continue to rise amid ongoing price hikes from domestic steelmakers. The ascent for HRC prices accelerated throughout January as they jumped by over 10%. Meanwhile, plate prices returned sideways with a modest month-over-month rise of just under 2%. Of course, this came after prices traded down throughout December. Overall, the Raw Steels […]
