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Afrochine Smelting Co, the ferroalloys subsidiary of China's Tsingshan Group in Zimbabwe in southern Africa, is proposing to build a steel mill with 2 million tonnes/year capacity in the capital Harare, market sources shared on June 13. Business representatives from East China's Zhejiang province signed a memorandum of understanding (MoU) with Zimbabwe government representatives in Harare on June 11.
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Brazilian miner Vale has agreed to sell future cobalt output from its Voisey's Bay mine in Canada for $690 million so as to allow the company to make further investments in precious metals related to battery materials for electric vehicles, Vale said on June 12.
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Mysteel's High-carbon ferrochrome price with 60% Cr content in North China's Shanxi province reached Yuan 7,200/tonne ($1,143/t) including 16% VAT as of June 6, climbing by Yuan 200/t on month after having staying sluggish for three months, according to Mysteel's data.
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The London Metal Exchange (LME) is mulling launching battery metals contracts in early 2019 to answer to the growing needs because of the great potential in electric cars, according to market sources.
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Margins of China's ferromolybdenum producers have been squeezed in the past two months amid high domestic molybdenum concentrate costs while lower procurement prices from Chinese steel mills, market sources shared on May 17.
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Louis Dreyfus Company (LDC), a world's leading trading company headquartered in Rotterdam, West Europe's Netherlands, completed selling off its global metals business LDC Metals to a Chinese fund - NCCL Natural Resources Investment Fund, according to a LDC statement on May 11.
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China's 60% ferro-molybdenum price had been holding firm at Yuan 111,000/tonne over the week as of May 2 after a Yuan 2,000/t jump on April 26, thus ending the cycle of 25 consecutive days of declines earlier on, market sources shared on Thursday.
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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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POSCO, South Korea's largest steel company, marked its 50th anniversary on April 1 by setting out a new vision for the future that will prioritize new business areas such as energy and new materials over its traditional business, steel.
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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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Joseph Kabila, President of Democratic Republic of Congo (DRC), will soon adopt a new controversial mining code that will increase domestic mining costs despite that a group of global miners have been vigorously lobbying against the revision, according to a government announcement released on March 7.
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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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Jiangxi Tungsten Holding Group posted a Yuan 12.7 million ($2 million) net profit in 2017, which ended its loss-making in the previous few years thanks to its consolidation of its two subsidiaries in tungsten business and the recovery in tungsten prices, according to an industrial source that is close to the company on March 1.
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China's lithium-ion battery production grew 31.25% on year in 2017 partly due to the country's robust development in new energy vehicles (NEVs), and the battery market is with an even brighter future in 2018 with Chinese government's promotion of NEVs in the domestic market by waiving the 10% tax on NEVs sales over 2018-2020, market sources shared.
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Vale implemented its business strategy for a "smaller footprint" in both nickel and copper in 2017 by reducing the output in these two metals, according to its latest quarterly report released on February 16.
