• Zinc, other base metals in backwardation Dec 03, 2010

    The cash to three-month zinc spread closed in a 50-cent backwardation in Friday’s official trading on the London Metal Exchange as three of the six base metals saw their cash prices exceed their three-month prices.

  • Collahuasi, unions resume labor talks to end strike Dec 03, 2010

    Labor talks at Chile’s Cia. Minera Dona Ines de Collahuasi SCM (Collahuasi) copper mine entered their final stages Friday as union members and management tried to hammer out a new agreement, a company spokesman told AMM.

  • Codelco cancels Minmetals projects Dec 03, 2010

    Corporacion Nacional del Cobre de Chile (Codelco) doesn’t plan to develop copper exploration projects with China Minmetals Corp. over the next few years as it needs to focus on its major structural expansion projects in Chile.

  • Noranda Income Fund secures bridge loan Dec 03, 2010

    Noranda Income Fund agreed to pay its shareholder Xstrata Canada Corp. around $500,000 in return for credit support for a Canadian $250 million ($249 million) bridge loan that will secure the future of North America’s second-largest zinc refinery.

  • Collahuasi labor talks moving toward deal Dec 03, 2010

    Labor talks at Chile’s Cia. Minera Dona Ines de Collahuasi SCM (Collahuasi) copper mine entered their final stages Friday as union members and management tried to hammer out a new agreement, a company spokesman told AMM.

  • Raptor sells first antimony ore to China Dec 03, 2010

    Antimony miner Raptor Ventures LLC Inc. sold its first 300 tonnes of raw ore output to an undisclosed Chinese company, the first in what could be a series of transactions with the Asian buyer.

  • Ormet to renegotiate deal to purchase carbon anode facility in Wash. Dec 03, 2010

    Ormet announced Friday it has pulled out of the original deal but plans to continue discussions with the owners about a possible transaction. An Ormet spokeswoman said the company will not disclose the reason for the withdrawal.

  • Brazil turns to North America to meet aluminum needs Dec 02, 2010

    A dearth of aluminum units in Latin America is forcing Brazilian consumers to look as far north as the United States and Canada in their effort to meet the country’s soaring demand, sources in the marketplace told AMM.

  • Metals contracts volume climbs 34 percent in November on CME Dec 02, 2010

    The volume of metals contracts traded on CME Group platforms rose 34 percent to a record 500,000 contracts per day during November, the group announced. Average daily volume figures showed trades up more than a third year-on-year and 42 percent higher sequentially.

  • Vale in Chilean copper project Dec 02, 2010

    Brazilian miner Vale S.A. will commission its Tres Valles copper project in Chile this week, a company source told AMM’s sister publication, Metal Bulletin.

  • Midwest aluminum premiums ease Dec 02, 2010

    Midwest aluminum spot premiums have eased slightly in the initial trading days of December as demand retreats ahead of year-end bookkeeping.

  • Sojitz’s objective to meet Japan’s rare earths needs Dec 02, 2010

    Japanese trading house Sojitz Corp. said it plans to supply Japan with up to half its annual rare earths needs—or some 15,000 tonnes per year—by 2013.

  • China aims to close 50 percent of backward stainless capacity in 2011 Dec 02, 2010

    China will try to phase out half of its “backward” stainless capacity, or about 2.5 to 3 million tonnes per yard, by the end of next year, delegates at the Chromium 2010 conference in Shanghai heard. Tighter government controls over pollution and energy efficiency will be enforced next year as China sets out on its next five-year plan. But opposition from local authorities could mean the 50-percent target is difficult to reach. “We want to eliminate small companies with high pollution levels and support the development of companies with strong environmental controls, so that the structure of the industry is improved,” Hou Shi Guo, deputy director of China’s Ministry of Industry and Information Technology, told delegates at the conference. China has around 5 million to 6 million tonnes per year of capacity, which the government classifies as “backward,” delegates at the annual conference of the International Chromium Development Assn (ICDA) were told. China’s total stainless capacity is around 13 million tonnes per year.

  • China’s ferrochrome price will exert greater influence in Europe Dec 02, 2010

    Low ferrochrome prices in China will hamper efforts by South African producers to secure an increase in the next quarter’s benchmark charge chrome price as Western steelmakers question why they are paying much higher prices. “I doubt the price will rise in the first quarter, as I think there will be pressure to align the European and Chinese prices,” one South African ferrochrome producer said at the ICDA Chromium 2010 conference. High-carbon ferrochrome is trading at around $1 per pound on China’s spot market, while the European price is $1.20 to $1.30 per pound after the fourth-quarter benchmark price was settled at $1.30 per pound—a rollover of the third-quarter price. “In 2008, no one cared as there were fat margins everywhere, but then it all crashed and everybody liquidated their stocks,” the producer said, adding that it is a relatively new trend for Western steelmakers to reference China’s prices in this fashion.

  • Glencore in deal for Alexco leas, zinc concs Dec 02, 2010

    Glencore has signed two offtake deals for the lead concentrates and zinc concentrates produced by Vancouver, British Columbia-based Alexco Resources.

  • Ferrosilicon steady; supply fears abate Dec 02, 2010

    Ferrosilicon prices in the United States have remained between $1.10 and $1.15 per pound as supply fears from China have subsided.

  • Elixir set for December shipments Dec 02, 2010

    Aluminum extruder Elixir Industries expects to begin shipping some product from its recommissioned plant in Mishawaka, Ind., this month, with full production forecast for the second quarter, a company official told AMM.

  • Alcoa taps M&A group heads Dec 02, 2010

    Alcoa Inc. has named Julia Steyn and George King as vice presidents and co-managing directors of its business development group.

  • Ferrosilicon holding steady as fears over supply abate Dec 02, 2010

    After China announced cutting ferrosilicon supply in September due to power issues, prices climbed steadily as local demand picked up (AMM, Oct. 18).

  • Elixir set for December shipments Dec 02, 2010

    “We will probably actually start shipping some materials in December. We have already started cycling the press,” said Dwight Knowles, vice president and chief operation officer. “We’ve already got orders in place; we’ve already got raw material in place.”

  • Midwest aluminum premiums ease as demand steps back Dec 02, 2010

    Midwest aluminum spot premiums have eased slightly in the initial trading days of December as demand retreats ahead of year-end bookkeeping.

  • Felman Trading denies undercutting SiMn market Dec 01, 2010

    Felman Trading Inc. denies claims by market participants that the silicomanganese and ferromanganese company has been selling at a discount over the past year in order to grab market share.

  • Alleged Baltimore nickel thief arrested on federal charges Dec 01, 2010

    Federal authorities have charged a scrapyard owner in the theft of $2.5 million worth of nickel belonging to BHP Billiton Marketing from a Baltimore port, just days after arresting him as he purportedly planned to leave the country.

  • Inmet takes full control of Spain’s Las Cruces copper mine Dec 01, 2010

    Inmet Mining Corp. plans to buy Leucadia National Corp.’s stake in the Cobre Las Cruces open-pit copper mine in Spain.

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