NEWS

BHP on Thursday approved $2.9 billion in spending to build a new iron ore mine in Australia, the top global miner’s biggest investment commitment in seven years. The South Flank mine in the state of Western Australia is due to produce its first ore in 2021, replacing the 80 million…

Japan is seeking to join the European Union in its push to set up dispute resolution talks with the United States over Washington’s steel and aluminum tariffs, under the World Trade Organisation framework, a government source said. The Japanese government source, who has direct knowledge of the matter, said it…

China’s aluminium production in May rose 1.5 percent to 2.79 million tonnes from a year earlier, data released by the National Bureau of Statistics showed on Thursday. On a daily basis, the world’s top aluminium producer churned out 90,000 tonnes of the metal last month, compared with 92,300 tonnes in…

Southern Copper Corp said on Tuesday that it plans to start building its proposed $2.5 billion copper mine Michiquillay in Peru next year and will likely start operations in 2022 - three years earlier than previously forecast. Southern’s chief executive, Oscar Gonzalez, added that the company will need to reach…

Sweden-based steel maker SSAB is planning a possible closure of its steel tube factory in Lappohja, Finland, with 115 employees, the company said on Monday. SSAB said it would focus on its other tube manufacturing sites in Finland and renew their production lines. Steel tubes are used in construction, machine…

Tata Steel has joined the race for the sale of Usha Martin's steel facility in Jamshedpur with a Rs 6,000 crore offer, according to a report in the Business Line. The Kolkata-based company is selling its steel facility in order to pare the debt on its books which stood at…

China’s aluminum exports rose to their highest in almost 3-1/2 years in May, as a favorable price arbitrage saw more shipments overseas despite U.S. tariffs, while steel exports were the most since July 2017, helped by a recovery in global demand. China is the world’s biggest producer of steel and…

China’s iron ore imports rebounded in May after a brief dip in the previous month, as steel mills ramp up output to cash in on strong margins despite environmental curbs across the country. Shipments of the steelmaking raw material in May rose 13.5 percent from April to 94.14 million tonnes,…

Chinese steelmakers are seeking new export destinations in Africa and South America as shipments to their biggest overseas buyers in Southeast Asia fall by double digits, with new U.S. trade actions threatening to kill off some markets entirely. China, the world’s largest maker, consumer and exporter of steel, is finding…

Chinese iron ore futures climbed to their highest level in two weeks on Wednesday after an iron ore mining accident, stirring concerns about potential tight supply in the market. An explosion on Tuesday at an iron ore mining project owned by Huamei Group Company in China’s northeastern province of Liaoning…