Rio Tinto’s new remelt furnace at its Laterrière Plant in Quebec officially came online amid a tight aluminum market and elevated aluminum prices. Rio Tinto projects boosts aluminum recycling capacity The two-year project added 22,000 metric tons of recycling capacity for North American rolled product customers in the automotive and packaging industries. According to Rio […]
Category: Company News
Vietnamese automaker VinFast to build EV manufacturing center in North Carolina
As we continue to analyze current market factors and their impacts on nickel prices, copper prices and other key metal prices for automotive production, today we’ll focus on an announced addition to the domestic automotive manufacturing scene. A new automotive player will be coming to the U.S. soon, as Vietnamese automaker VinFast this week announced […]
Shelling severely damages Azovstal coking plant
Shelling on Metinvest’s longs and flats producer Azovstal has destroyed its ability to operate, local reports and a plant official stated. The plant is in the besieged Ukrainian city of Mariupol. Damage to the site remains unclear at present, sources told MetalMiner. Metinvest officials outside of Ukraine also did not indicate the degree of damage. […]
UK regulator suspends trading of Russian steelmaker Evraz
In our ongoing coverage of the Russia-Ukraine war and its impact on metal prices, the Financial Conduct Authority, the UK’s financial regulator, has suspended trading of Russian steelmaker Evraz’s shares on the London Stock Exchange. The move follows the government’s addition of Roman Abramovich to its list of sanctioned individuals. UK suspends trading of Russian […]
Raw Steels MMI: As steel prices fall, steelmakers look to scrap
The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap […]
This Morning in Metals: U.S. steel prices continue to cool
This morning in metals news: U.S. steel prices have continued to decline; OPEC will continue its output increase schedule in February 2022; and, lastly, Alcoa at the end of last year announced plans to curtail production at its San Ciprián aluminum smelter in Spain. Does your company have a steel buying strategy based on current […]
This Morning in Metals: Copper prices move sideways; construction employment rises; Northvolt assembles first lithium-ion battery cell at Swedish gigafactory
This morning in metals news: copper prices have moved sideways to close 2021; meanwhile, the U.S. construction sector added jobs in November; and, finally, Northvolt said it had produced the first lithium-ion battery cell at its gigafactory in Sweden. MetalMiner should-cost models: Give your organization levers to pull for more price transparency, from service centers, […]
This Morning in Metals: Aluminum prices rally; Rio Tinto to acquire lithium project; Biden signs proclamation adjusting steel imports
This morning in metals news: aluminum prices have rallied to close the year; Rio Tinto is acquiring a lithium mining project; and, lastly, the American Iron and Steel Institute commented on the president’s proclamation this week adjusting steel imports. See why technical analysis is a superior forecasting methodology over fundamental analysis and why it matters […]
ArcelorMittal Nippon Steel to build 23 million ton per year steel facility
One of the world’s largest steelmakers, ArcelorMittal Nippon Steel, will invest ₹1 trillion (approx. U.S. $13 billion) to put up a 24 million ton per annum (MTPA) integrated greenfield steel facility in India’s eastern province of Odisha, India Today reported. The project will generate 16,000 direct employment opportunities and other related indirect employment jobs through […]
Thyssenkrupp continues to explore steel unit sale
Thyssenkrupp’s prospective plans to separate Thyssenkrupp Steel (TKS) into a standalone company indicate a plan to sell it, industry watchers said, though they questioned what kind of price the German conglomerate would ultimately receive. “Everybody knows that it has been an exceptional year,” one trader said about steel prices and demand. Are you under pressure […]
