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South32 Limited, the world’s leading manganese mining company, has entered into two binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo) to acquire a 45% interest in the Sierra Gorda copper mine in Chile as part of its efforts to reshape its business portfolio, according to its press release on October 14.
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Inner Mongolia in North China, now the country’s second-largest coal mining region after Shanxi in North China too and with the most competitive power charges, mulls blocking any new industrial projects including steel, coke, ferroalloys, non-ultra-high electrode graphite and aluminium starting 2021, aiming to rein in on the region’s power consumption mainly by such industrial plants, according to a draft by its Development and Reform Committee.
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Most of the Indian ferro chrome producers are out of chrome ore supply, as OMC has not conducted its monthly auctions since May-20. OMC and TATA Steel, both of the major miners are either producing at much lower capacity or not producing chrome ore and can only fulfil the previous orders. On top of that, the stainless steel demand is strong, thus higher prices of stainless steel and scarcity of chrome ore are pulling up the prices of ferro chrome.
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Beijing’s shift of its focus onto detailed air pollution
control guidelines for the “2+26” cities over October 1-March 31 2019, which
differs from the specific and detailed blanket control over polluting
industries including steel on their capacities,will by no meanssuggest “the loosening in control or lower severity
in essence from the 2017 winter”, according
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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China's ferro-molybdenum price has strengthened with Mysteel's 60% ferro-molybdenum climbing by Yuan 1,000/tonne ($152/t) from June 29 to Yuan 106,500/t including 16% VAT as of July 12, as domestic moly concentrate supply has been tight, market sources shared on July 12.
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China's ferrochrome market will enjoy steady growth in demand this year, though local smelters will continue to fierce competition from imports, according to Shi Wanli, Secretary General of China Ferroalloy Industry Association.
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Freeport-McMoRan Inc (FCX), the world's second largest copper miner, posted a year-on-year increase by 184 million pounds or 22.7% in its copper concentrates sales to 993 million lbs (450,417 tonnes) in terms of 100% copper content over January-March, according to its latest quarterly report released on April 24.
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China's ferro-molybdenum price has been sliding non-stop since hitting a five-year high at Yuan 118,000/tonne ($18,800/t) on March 20, down Yuan 8,000/tonne in the past three weeks or so, amid receding buying enthusiasm at high prices and weakening demand, market sources shared on April 11.
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Switzerland-headquartered Glencore International AG will provide cobalt hydroxide to GEM Co., a Chinese metals recycler, and to several GEM subsidiaries over 2018-2020, according to GEM's release on March 14.
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China's 400-series stainless steel output is expected to grow further, thus regaining some market share from the low-quality 200-series in the coming years, according to a post by the Stainless Steel Council of China Special Steel Enterprises Association (CSSC) on March 13.
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Zhejiang Huayou Cobalt (Huayou), China's top nonferrous materials processor, will build a base manufacturing 150,000 tonnes/year of ternary material for lithium ion batteries in East China's Zhejiang province, according to a March 13 post on the company's website.
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China's price for molybdenum concentrates has hit a five-year high as domestic supplies are now tight, say industry sources, while the Chinese moly producers are actively rebuilding their stocks of the raw material after the week-long Chinese New Year holiday break.
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The outlook for China's tungsten market this year is positive, with domestic demand for the metal seen benefiting from China's focus on new materials and advanced manufacturing in its still-robust economy, argued a post on China Nonferrous Metal Network(CNMN) on March 2.
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POSCO, South Korea's top steelmaker, signed a binding off-take deal with Australia's Pilbara Minerals for procuring 80,000 tonnes/year of chemical grade spodumene concentrate, the raw material for lithium production, from the Pilgangoora Lithium-Tantalum project in West Australia, according to Pilbara Minerals' latest release.
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China Nonferrous Metal Mining Group Co (CNMC) contracted CITIC Heavy Industries Co for ore processing facilities for its Deziwa copper-cobalt mining project in Congo in central Africa, officials from both companies confirmed on February 1.
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NCCL Natural Resources Investment Fund, newly-incorporated entity by a subsidiary of China Molybdenum Co. and two other asset management companies, will acquire the full ownership of Louis Dreyfus Company's metals platform, according to a recent statement from China Moly.
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Global Star Corporation, a subsidiary of Shenzhen Zhongjin Lingnan Nonfemet (Lingnan), has sold its 60% stake in the Moblan lithium project in Quebec, East Canada, for $60 million on December 19, Lingnan confirmed on December 21.
