Metal

Thyssenkrupp has announced a significant write-down of €1 billion ($1.06 billion) on its steel division, attributing this decision to a bleak outlook for the sector marked by weak demand and increasing competition from Asia. This impairment, the second consecutive one in as many years, has resulted in an annual net loss of €1.5 billion for […]

Lead inventories in London Metal Exchange (LME) approved warehouses have surged by 49% over two days, reaching their highest level since March 2013, according to recent LME data. This increase is attributed to inflows of 91,025 metric tons, likely from parties delivering against short or bearish positions ahead of the November contract expiry. Data reveals […]

Nippon Steel has announced it will not import steel from its international mills to the U.S. as part of its strategy to secure its $14.9 billion acquisition of U.S. Steel. This decision comes amid concerns from the United Steelworkers union and the incoming Biden administration. Strategic Move: Executive Vice President Takahiro Mori communicated this in […]

Orla Mining has announced its acquisition of the Musselwhite Gold Mine in Ontario from Newmont for $850 million, a move that is set to more than double Orla’s gold production. Transaction Details: The deal will enable Newmont to generate up to $2.9 billion from non-core asset divestitures, part of its strategy following the $17 billion […]

Compass Minerals (CMP.N) is reportedly in discussions with private-equity firms regarding a potential sale, following significant challenges stemming from a failed lithium-mining project that negatively impacted the company’s stock value. The Overland Park, Kansas-based minerals producer is currently valued at approximately $1.5 billion, including debt. Current Situation: Sources familiar with the matter indicate that Compass […]

Russia has announced restrictions on the export of enriched uranium to the United States, raising concerns about supply risks for U.S. nuclear power plants that sourced a quarter of their enriched uranium from Russia last year. This move comes in response to a U.S. ban on Russian uranium imports enacted earlier this year. Background: The […]

Prime Minister Anthony Albanese stated that any changes in U.S. climate policy under the Trump administration could enhance Australia’s efforts to attract investment in its critical minerals and green energy sectors. Resource Abundance: Australia is rich in essential minerals such as copper, vanadium, cobalt, and lithium, which are vital for electric vehicle batteries and other […]

Copper prices are projected to decline towards $8,500 per metric ton over the next four months, driven by expectations of weakened demand due to potential trade disruptions if Donald Trump returns to the White House in January, according to industry experts. Current Market Status: As of 0852 GMT, benchmark three-month copper on the London Metal […]

The China Nonferrous Metals Industry Association (CNIA) has called for increased utilization of aluminium and recycled copper to address the ongoing shortages of copper resources, which are impacting profits for Chinese smelters. This statement was made during a conference amid growing challenges in the copper industry. Current Industry Challenges: Ge Honglin, chairman of CNIA, highlighted […]

Chinese copper smelters are expected to further reduce production, shut down, or extend maintenance next year due to a significant shortage of raw materials, particularly copper concentrate. This outlook was shared by participants at the CRU World Copper Conference Asia held in Shanghai. Raw Material Shortage: Global disruptions in mining operations and rapid capacity expansions […]