Metal

Hindustan Zinc reported a 19.4% increase in net profit for the April-June quarter, totaling 23.45 billion rupees ($280.1 million). This marks the company’s first profit rise after six consecutive quarters of decline, attributed to higher zinc prices and increased demand. Analysts had anticipated a profit of 22.83 billion rupees. The prices of zinc, lead, and […]

Alex Beard, the former head of oil at Glencore, has been charged with bribery offences related to the company’s operations in Africa, as announced by Britain’s Serious Fraud Office (SFO). Beard, 56, faces charges for two conspiracies to make corrupt payments to government officials and officials of state-owned oil companies in Nigeria from 2010 to […]

Nippon Steel, Japan’s largest steelmaker, has raised its full-year profit forecast following a stronger-than-expected first-quarter performance. For the quarter ending in June, the company reported a net profit of 157.6 billion yen ($1 billion), an 11% decrease from the previous year but surpassing analyst expectations of 108.7 billion yen. The firm increased its net profit […]

According to data from the International Lead and Zinc Study Group (ILZSG), the global lead market experienced a shift to a deficit of 15,800 metric tons in May 2024, following a surplus of 2,000 tons in April. This change marks a significant turnaround in the market dynamics. For the first five months of 2024, the […]

Albemarle, the world’s largest lithium producer, announced a second round of cost cuts this year due to plummeting lithium prices, which have significantly impacted its financial performance. The company reported a net loss of $188.2 million, or $1.96 per share, compared to a profit of $650 million, or $5.52 per share, in the same quarter […]

ArcelorMittal, the world’s second-largest steelmaker, reported a 38% decline in second-quarter core profit due to low steel prices. Despite this drop, the results exceeded expectations, largely driven by a 3.2% increase in shipments compared to the first quarter, totaling approximately 13.9 million tonnes. The company’s EBITDA for the quarter was $1.86 billion, 5% above consensus […]

Codelco, Chile’s state-run copper giant, is striving to recover its production levels, currently at a 25-year low. CEO Ruben Alvarado reported an 8.4% drop in production during the first half of the year but expressed optimism about a turnaround, aiming to end 2024 slightly above last year’s output. Codelco has set a goal to progressively […]

Jiangsu Delong Nickel Industry, the third-largest stainless steel producer in China, is under court consideration for bankruptcy reorganization. Founded in 2010 by Dai Guofang, Delong has a significant presence in the stainless steel market, with a capacity of 5 million metric tons in China and 2.5 million in Indonesia. Despite generating revenue of 169.5 billion […]

According to Antaike, a prominent Chinese state-backed research organization, copper prices are expected to decline in the latter half of 2024 due to steady output and concerns over weak demand. Analyst Li Zhimei stated that factors such as worries about a global economic slowdown, consistent growth in refined copper output, and anticipated interest rate cuts […]

Rio Tinto’s CEO, Jakob Stausholm, indicated that the company is open to considering significant acquisitions in the copper sector, provided they offer substantial value. This comes as the copper market heats up, driven by increasing demand for electrification and renewable energy sources. Currently, Rio Tinto generates most of its profits from iron ore but aims […]