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Ukrainian steelmaker Metinvest will increase its hot-rolled coil output once it finishes testing a new rolling line at its Ilyich Iron & Steel Works at Mariupol, chief executive officer Yuriy Ryzhenkov told Fastmarkets this week.
China Zhongwang holdings – the largest aluminium extrusion company in Asia – has announced it sold 100% equity interests of its direct wholly-owned subsidy Zhongwang Aluminum Material to Yidian Luoyang, according to a document found by Fastmarkets in Hong Kong Exchanges’ website earlier in the week starting March 2.
Weakness in cobalt metal prices along with growing concerns of disruptions to downstream battery operations in South Korea amid an outbreak of novel coronavirus (2019-nCoV) are weighing heavily on the Chinese cobalt sulfate market. Société le Nickel will halt operations at its Thio nickel mine in New Caledonia to protect the site and its employees while fresh industrial action continues to jeopardise already-embattled operations, the company said on March 5.
Market participants expect to see a decline in the monthly tender price offered by major Chinese stainless mills for March delivery of domestic high-carbon ferro-chrome when the tenders are officially announced in the coming days. Fastmarkets examines the reasons behind this expectation and discusses how smelters might respond to the lower tenders.