Articles in Category: Non-ferrous Metals

bas121/Adobe Stock

This morning in metals news, a Turkish conglomerate is reportedly ready to step into the British Steel process if Jingye Group’s takeover effort falls apart, copper prices fell to a two-week low and an Indonesian company aims to augment its aluminum production.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Cengiz reportedly ready if Jingye’s British Steel bid falls apart

As Chinese firm Jingye Group attempts to push through its takeover bid of the liquidated British Steel, Turkish conglomerate Cengiz Holdings is ready to step in if talks fall apart, The Guardian reported.

Read more

Bombardho/Adobe Stock

The International Copper Study Group (ICSG) reported global copper mine production fell 0.3% through the first 10 months of 2019.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

According to the ICSG, concentrate production during the period was flat, while solvent extraction-electrowinning fell 1%.

Production in Chile declined 0.2%, according to the ICSG, as a result of lower copper head grades and production disruptions earlier in the year.

Read more

Sunshine Seeds/Adobe Stock

This morning in metals news, BHP released its half-year production results, the GFG Alliance unveiled a new aluminum group and copper prices have been on the rise early this year.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

BHP’s copper production rises 7%

Miner BHP released its production results for the half year ending Dec. 31, 2019, showing its copper production ticked up 7% on a year-over-year basis.

Read more

Sunshine Seeds/Adobe Stock

This morning in metals, miner Rio Tinto recently released its Q4 production results, China unveiled new copper scrap and aluminum scrap regulations, and China’s Jingye Group has called on consultants to help strengthen its case for its British Steel takeover plans.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Rio Tinto’s iron ore shipments down 3%

Rio Tinto’s Pilbara iron ore shipments fell 3% in 2019 compared with 2018, the company recently reported.

Read more

zerophoto/Adobe Stock

This morning in metals news, aluminum maker Alcoa released its financial results for Q4 and 2019, an Ohio steel plant touts investment that it says will bring new jobs and a Pittsburgh-based metals manufacturer says it will have to close a facility unless it wins a steel tariff exemption.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Alcoa releases quarterly financials

Aluminum maker Alcoa reported a net loss of $303 million ($57 million excluding special items) in Q4 2019.

Fourth-quarter revenue came in at $2.4 billion, down from $2.6 billion the previous quarter and $3.3 billion in Q4 2018.

“In 2019, we acted to further strengthen Alcoa, completing the divestiture of uncompetitive assets, modernizing labor agreements in three countries, implementing a new operating model, and making quick progress on the asset review process we announced last quarter,” Alcoa President and CEO Roy Harvey said.

“While the market in alumina and aluminum challenged us, we maintained a strong cash balance of nearly $900 million and drove operational stability,” Harvey said. “Also, our low-cost, top-tier bauxite and alumina segments both set new annual production records based on our current portfolio.”

Read more

The escalation in U.S.-China trade relations appeared to take a brief pause Wednesday when U.S. President Donald Trump and Chinese Vice Premier Liu He signed what has been billed as a “Phase One” trade agreement between the world’s two largest economies.

“Today we take a momentous step, one that has never been taken before with China, toward a future of fair and reciprocal trade as we sign Phase One of the historic trade deal between the United States and China,” Trump said in opening remarks during the signing ceremony Wednesday, adding the deal would begin to “right the wrongs of the past.”

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.

Over the past two years, following the launch of a Section 301 investigation in August 2017, the U.S. has imposed a total of approximately $370 billion in tariffs on Chinese goods, with China responding with tariffs of its own at each step of the way amounting to $110 billion.

Read more

byrdyak/Adobe Stock

The January 2020 Monthly Metals Index (MMI) report is in the books, including coverage of rising steel prices, U.S. automotive sales, construction spending and much more.

This month, all 10 of the MMIs increased.

The GOES, Rare Earths and Global Precious MMIs were the biggest risers, surging by 19.1%, 5.3% and 4.5%, respectively.

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.

Some highlights from this month’s MMIs:

  • U.S. steel prices made gains across the board during the first half of December.
  • Copper prices made gains but were capped somewhat by concerns over demand.
  • U.S. automotive sales were forecast to fall 1.7% in 2019 compared with the previous year.
  • U.S. construction spending in November picked up 4.1% on a year-over-year basis.

Read about all of the above and much more by downloading the January 2020 MMI Report below:

Björn Wylezich/Adobe Stock

This morning in metals news, 2019 proved to be a down year for Ford Motor Company’s sales in China, Norsk Hydro plans to ramp up production of recycled aluminum this year and Rio Tinto awarded an A$400 million contract for the design of a new mine in Australia’s Pilbara.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Ford sales drop in China

Ford saw its sales in the Chinese market drop 26.1% in 2019 compared with the previous year, according to the company’s most recent sales results release.

Ford sold 567,854 vehicles in China last year.

Read more

aldorado/Adobe Stock

Following from the long-running case recently won by the U.S. over whether the European Union (E.U.) provided Airbus with subsidies, on Dec. 2 the World Trade Organization (WTO) rejected the E.U.’s claim that subsidies were no longer provided to Airbus.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

This ruling gave the U.S. scope to execute an additional Review of New Tariffs on E.U. imports.

On Dec. 12, the U.S. Trade Representative (USTR) issued a notice additional products may see tariff rates of up to 100%, as listed in Annex II, posted at Regulations.gov.

This annex includes only products not currently affected by Airbus-related Section 301 tariffs issued during late 2019.

Read more

Steven Husk/Adobe Stock

Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including: a natural gas transit deal between Russia and Ukraine; aluminum prices; the impact of escalating U.S.-Iran tensions on oil prices; and the copper demand picture.

Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.