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2019 - 08 - 20
Small Australian copper producer Aeris Resources Ltd on Wednesday said it had offered to buy global trader and miner Glencore’s CSA copper mine in the state of New South Wales for $575 million.Aeris said in a statement that negotiations to buy the mine in Cobar were at a late stage, with the offer comprising $525 million in cash, $50 million in Aeris shares and a royalty payable to Glencore.A spokesman for Glencore declined to comment.The Queensland-headquartered Aeris, with a market value of A$78 million ($55.19 million), said the acquisition could be funded through a combination of debt, an ...
2019 - 08 - 15
Chinese iron ore prices edged higher, while steel futures were little changed in early trade on Thursday as still-high inventories cooled hopes of a strong rebound in prices when demand picks up as construction activities resume next month.The most-traded iron ore contract on the Dalian Commodity Exchange, for May delivery, was up 0.8 percent at 602 yuan ($90.07) a tonne by 0240 GMT, extending the previous session’s muted gains.Spot iron ore for delivery to China SH-CCN-IRNOR62, with 62 percent iron content, was steady at $85 a tonne on Wednesday, according to SteelHome consultancy.“The weathe...
2019 - 08 - 12
India's crude steel output fell about two per cent to 9.180 million tonne (MT) during January 2019, according to World Steel Association (worldsteel). The country had produced 9.354 MT during the same month in 2018, according to worldsteel's latest report.Global crude steel production for the 64 countries reporting to the association was 146.70 MT in January 2019, up one per cent compared to the year ago month, it said.Last month, China's crude steel production stood at 75.013 MT, higher by 4.3 per cent as against 71.887 MT output in January 2018.China is the world's largest steel producing co...
2019 - 08 - 01
Global crude stainless steel production is predicted to reach a new record annual total of 53.1 million tonnes, in 2019. This would exceed the previous high figure, set last year, by more than 4.6 percent.Despite strong expansion in emerging countries, such as India and Indonesia, Chinese growth continues to outstrip the world average. MEPS’ forecast of 28.3 million tonnes, for China’s annual outturn, in 2019, represents an increase of almost six percent, year-on-year, and more than 53 percent of the anticipated global total.Indian production continues to grow at a healthy rate. The forecast o...
2019 - 07 - 25
Fujian Luoyuan Minguang Iron and Steel Co., Ltd., located in Luoyuan County, member of the Sangang Group, PR China, has awarded SMS group GmbH the order to supply a new section mill for parallel flange beams up to 750 millimeters web height. The new section mill will enable Fujian Luoyuan Minguang Iron and Steel to broaden their product portfolio and to respond to the high demand for beams in the region and in the People’s Republic of China.The section mill will be designed for an annual capacity of 1.3 million tons and equipped with a state-of-the-art breakdown stand and the latest-generation...
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