Iron ore profits to drop by a third as miners eye China demand

Rio Tinto is the first of the global iron ore majors expected to report lower half-year earnings from this week, as supply chains normalize after Covid-19 and attention turns to how suppliers to China’s steelmaking industry see customer demand.

Wednesday, July 26, 2023

Kumba lowers full-year sales guidance as logistics challenges persist

Kumba Iron Ore achieved a solid operational and financial performance for the six months ended June 30, despite ongoing logistics constraints and weak global steel demand impacting on iron-ore markets, while continuing to drive for zero harm and the eliminatio...

Wednesday, July 26, 2023

Tycoon Jindal’s JSW Steel scouts for global coal mining assets

JSW Steel is on the lookout for coal assets globally as the tycoon Sajjan Jindal-led mill seeks to tie up raw material supplies for its expansions in India.

Tuesday, July 25, 2023

Rio’s $1 billion aluminium venture

Rio Tinto has entered into a joint venture with North American-based Giampaolo Group to manufacture and market recycled aluminium products.

Monday, July 24, 2023

Vale grows iron-ore output by 6%, sales lag

Brazilian miner Vale posted 6.3% growth in second-quarter iron ore production while sales lagged, the company announced in a securities filing on Tuesday.

Thursday, July 20, 2023

US HRC: Prices rise as floor lifts

This week started off slow after the 4 July holiday fell on a Tuesday last week, with many taking off most if not all of the holiday week.

Wednesday, July 19, 2023

Steel trader Ivancore working to rebuild lines/volume

Lugano-based steel trader Ivancore is working to rebuild its credit lines and volumes after a number of staff left the company.

Wednesday, July 19, 2023

US HDG/CRC: Prices move up on higher offers

US hot-dipped galvanized (HDG) and cold-rolled coil (CRC) prices continued to increase after the holiday week.

Wednesday, July 19, 2023
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