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Tsingshan Group, China’s and the world’s largest stainless producer, has announced that for its purchases of high-carbon ferro-chrome (FeCr) in April, it has decided to maintain the same buying price as for March of Yuan 5,647/tonne ($828.8/t) including 13% VAT in terms of delivery to its plant, according to a company notice posted late on March 26. For this month’s procurement, Tsingshan pared its bid price by Yuan 150/tonne, as Mysteel reported.
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Glencore, a multinational energy and mineral producer, has been forced to join many other mining companies to idle its nonferrous and coal operations in several countries to cooperate with the respective countries’ efforts in containing the COVID-19, according to a company release on the afternoon of March 26 Central European Timezone.
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Tharisa PLC on Tuesday said it will cease all of its South African mining operations after the night shift on Wednesday, Mar 25th in response to the 21 days lockdown declared by President Cyril Ramaphosa.
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Dispatches of Chrome Ore by Odisha miners have sunk down by almost 41% in Feb’20 against Jan’20. TATA Steel remained the largest miner to dispatch 83,841 MT of Chrome Ore which is approximately half the previous month’s dispatches.
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Tsingshan Group, China’s and the world’s largest stainless producer, has announced a Yuan 150/tonne ($21.6/t) on-month reduction for its purchases of high-carbon ferro-chrome (FeCr) this month, according to the company’s notice on March 11. The cut takes Tsingshan’s buying price to Yuan 5,647/tonne including 13% VAT in terms of delivery to its plant.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China Hongqiao Group, the country’s leading aluminum producer headquartered in East China’s Shandong province and listed in Hong Kong, has recently secured the financing for its second-phase alumina expansion in Indonesia to double the capacity to 2 million tonnes/year by the end of 2020, market sources confirmed on Friday.
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Tsingshan group in China announced its January tender price for HC Ferro Chrome which is down by RMB 200 (USD 29) from December levels. The prices for Ferro Chrome were earlier dropped by RMB 400 (USD 57)/50 basis tons in December.
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Dispatches of Chrome Ore by Odisha miners have increased by almost 3% in Nov’19 M-o-M. TATA Steel remained the largest miner to dispatch 148,128 MT of Chrome Ore in Nov’19, which was 8% higher as compared to the previous month. TATA Steel held only 7% of the total quantity for captive use. Meanwhile, dispatches to TS alloys increased by 30% M-o-M with a quantity of 14,403MT, which was also 10% of the total dispatches from TATA Steel. Aarti Steel and Nava Bharat ventures remained the largest buyers of Chrome Ore from TATA Steel with 15% and 14% of the total dispatches.
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The Switzerland-headquartered mining company Glencore will supply up to about 30,000 tonnes of cobalt hydroxide in pure metal to South Korea’s SK Innovation over 2020-2025 to meet the latter’s need to produce more electric vehicle (EV) batteries amid the anticipation on the prosperity in the global EV market, Mysteel Global notes from the company releases.
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Tata Steel, India reported two fold increase in export volumes to 0.64 MnT in Q2 FY20 against 0.31 MnT in previous quarter. The guidance for exports for this fiscal will be around 2.4 MnT.
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Indian Ferro Chrome market is equally dependent on exports as the consumption of Ferro Chrome in the domestic market stands at only 50% of the total sales. With the global market on a downturn, producers in India remained under pressure to conclude deals in the domestic market.
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Sales of new-energy vehicles (NEVs) in China continue to show signs of stalling, given a series of negative factors including the prevailing softening economy, the county’s cooling automotive sector generally, and the reduction in subsidies for NEV purchases since late June, market sources said.
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According to sources, TS Alloys, a wholly-owned subsidiary of Tata Steel, emerged as the highest bidder for the Kamarda chrome ore deposits in Odisha, which was held by BC Mohanty and Sons, with a bid of 96.8% on Wednesday night soon after it bagged Misrilall Mine’s Saruabil deposits with a bid of 88.5% premium.
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The Odisha Mining Corporation Ltd intends to sell various grades of chrome ore (friable) produced at South Kaliapani chromite mines and Sukrangi chromite mines of OMC Ltd in the Sukinda valley of JK Road Region, Jajpur Dist Odisha. OMC Ltd has decided to use the service of MSTC Ltd (a Govt. of India Undertaking) to conduct e-auction for selling off its (OMC) chrome ore. OMC increased the base prices of all grades of Chrome Ore by 15% for October Chrome Ore Auctions in line with the shortage of chrome ore availability with the producers.
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Domestic production and sales of new-energy vehicles (NEVs) across China are showing signs of weakness, largely as a consequence of the central government’s move to reduce generous subsidies on NEVs that over the past few years had helped automakers to enjoy substantial growths in electric car sales.
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Swedish mining giant Glencore and Chinese battery material manufacturer GEM Co. have entered into a five-year agreement under which Glencore will provide a minimum of 61,200 tonnes of cobalt hydroxide for GEM between 2020 and 2024, according to an announcement released on Glencore’s website on October 7.
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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Molybdenum output during the first half of this year at Shanghai- and Hongkong-listed China Molybdenum Co (CMOC) reached 7,302 tonnes in 100% moly content, down by 8.2% from the same period last year amid the degradation in its reserves, according to the company’s semi-annual report released on August 28.
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Zhejiang Huayou Cobalt Co, one of China’s major cobalt producers headquartered in Zhejiang province in East China, witnessed a sharp on-year decline of 97.8% in its H1 net profits, even though the company’s production and sales of cobalt products increased on year, according to Huayou’s semi-annual report released on August 29.
