NEWS

Small Australian copper producer Aeris Resources Ltd on Wednesday said it had offered to buy global trader and miner Glencore’s CSA copper mine in the state of New South Wales for $575 million. Aeris said in a statement that negotiations to buy the mine in Cobar were at a late…

The Indian Steel Association (ISA), which represents top local makers of the alloy, has urged New Delhi to take immediate steps to ban imports from Iran after a near five-fold increase in shipments that might be traced back to the Persian Gulf nation. Imports have increased after the imposition of…

ArcelorMittal moved a step closer to acquiring Essar Steel with the National Company Law Appellate Tribunal (NCLAT) allowing the implementation of its Rs 42,000 crore resolution plan for the debt-laden steel company, pending its final ruling. It asked ArcelorMittal to deposit Rs 42,000 crore with the committee of creditors (CoC),…

Chilean copper miner Antofagasta Plc announced a higher-than-expected dividend payout on Tuesday and reported a drop in annual core earnings that was in line with analysts’ projections. The company lowered its final dividend by about 9 percent to 37 cents per share from last year, but topped the expectations of…

Chinese iron ore futures rose by more than 3 percent to a two-week high on Monday, supported by concerns over tight supply of the steel-making raw material after Vale SA announced further production cuts. The Brazilian miner said on Saturday that it would cut production at an iron ore mine…

Tokyo Steel Manufacturing Co Ltd , Japan’s top electric-arc furnace steelmaker, said on Monday it would keep its steel product prices unchanged in April amid soft overseas prices and slower local demand due to a shortage of labour and some materials. This is the fourth straight month the company kept…

Plans by the London Metal Exchange to launch a European steel contract are likely to be delayed until next year because the industry wants it to be priced in euros, which the exchange’s clearing house cannot process, industry sources say. This week the LME launched a suite of cash-settled futures…

Iron ore prices in China rose on Friday, with the benchmark futures contract extending a modest rally into a fourth session after some steel mills were reportedly allowed to resume sintering operations. But steel futures dropped further, with construction steel rebar on track to post its first weekly loss in…

Benchmark iron ore futures in China climbed to their highest in more than a week on Thursday as steel mills continued to buy raw materials, but the uncertain outlook for the country’s steel demand capped further gains. Steel prices fell, with construction steel rebar retreating after two days of gains.…

China’s daily steel output rose in January and February, as mills in the world’s top producer ramped up production amid firm steel margins and easier environmental restrictions. Average daily steel output over the two months reached 2.54 million tonnes, up from 2.46 million tonnes in December and 2.32 million tonnes…