Metallurgy news
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Zinc reaches its highest level in a decadeZinc prices rose significantly this week as they hit their highest level in nearly a decade thanks to robust global demand, declining inventories and a metal shortage in China, which accounts for over 40% of global zinc consumption. on the London Metal Exchange, three-month zinc futures are trading…
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Copper price is close to the highest level since the end of November 2014Copper in 2017 increased in percentage terms by 18%. In addition, the red metal recovered 54% in value after falling to a six-year low below $ 2.00 a pound in January last year. Copper futures traded on the Comex market in New York rallied amid global supply turmoil, and large speculators are…
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Iron ore resumes price growthSteel raw materials jumped 5.6% to hit $ 75.70 a tonne, close to four-month highs last week, according to data provided by The Steel Index. The price of iron ore is now trading 43% higher than its 2017 lows of just two months ago, as China's resistance to pollution in heavy industries forces the…
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Ireland bans hydraulic fracturingIreland joined France, Germany and Bulgaria, which previously banned hydraulic fracturing. The upper house of the Irish parliament has approved the decision of the lower house to ban the use of hydraulic fracturing in the exploration of drilling for oil and gas onshore. In the Netherlands…
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China becomes the largest buyer of aluminum scrap for the United StatesAccording to the latest figures from the US International Trade Commission (ITC), the export of US aluminum scrap in the first five months of this year was 609,148 tons, an increase of almost 13% from 540,239 tons in the same period last year. Overall export growth reflected the purchase of…
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US launches investigation into stainless imports from ChinaOn August 16, the United States Stainless Steel Manufacturers Association called on the US Department of Commerce and the International Trade Commission to initiate anti-dumping and countervailing investigations into the import of stainless steel flanges from China. Major products are listed in US…
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Thyssenkrupp earns higher revenues and profitsThyssenkrupp sees an increase in revenues and EBIT during the first three quarters of the fiscal year, but the impact of one-off events provides a net loss. Components Lift Technology recorded record results with net income of 5.703 billion euros. The Industrial Solutions segment, after a good…
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Europe is afraid of gas shortagesStandard & Poor's analyzed the impact of the new US sanctions against Russia on the European gas market. Analysts believe there is not enough gas, and this is felt in market uncertainty. Russia is the largest gas supplier to the European market and covers about 30 percent. European demand for this…
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China's steel production continues at record paceSteel output in China rose 10% year-over-year to its highest monthly rate, according to the country's statistics bureau. “Steel mills are making record profits, so any steel mill that is not required to stop or cut production has essentially no reason to hold it back,” said Kevin Bye, an analyst at…
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Wheat prices in Russia fall as a large harvest arrivesRussian wheat export prices are falling for the second week in a row on the imminent arrival of a giant harvest that is expected to surpass last year's record, analysts say. The USDA and two leading Russian agricultural consultants SovEcon and IKAR sharply raised their 2017 wheat crop estimates…
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