Steel Blog

Zinc Prices at 10-Year High

Monday, August 21, 2017 3:12 PM Written by
Published in Zinc

Zinc prices hit a 10-year high this past week, climbing to $3,000 per metric ton ($1.36 per pound) on the London Metal Exchange on Wednesday. By Monday, zinc had risen to $1.41 per pound. Strong global demand and shrinking inventory boosted prices, as well as a shortage of Chinese zinc.

The primary use of zinc is for the production of coated steels such as galvanized and Galvalume. A surge in zinc prices could have an impact on the coating extras used by steel mills across the world. Higher zinc prices means higher costs to apply zinc to steel.

Environmental inspections have shut down 60 percent of zinc mines in China for one month, further reducing constrained supply caused by capacity reductions at Swiss-based miner Glencore. Glencore idled one-third of its zinc capacity in October 2015. Nearly 500,000 metric tons of zinc were removed from the market, pushing prices up by more than 90 percent.


Iron Ore Producer Rebrands as Cleveland-Cliffs Inc.

Tuesday, August 15, 2017 1:38 PM Written by
Published in Iron Ore

Cliffs Natural Resources, in celebration of 170 years in business, has returned to its historical name Cleveland-Cliffs Inc.

"The historical name Cleveland-Cliffs is synonymous with our strong heritage and is the perfect one for our next era of growth," said Chairman, President and CEO Lourenco Goncalves.


Essar Steel Minnesota Goes to Chippewa Capital in Auction

Thursday, April 27, 2017 7:25 PM Written by
Published in Iron Ore

Essar Steel Minnesota was awarded to billionaire Tom Clarke for $550 million at an auction on Wednesday. Clarke’s group Chippewa Capital Partners, which previously purchased Magnetation, plans to merge Essar Steel Minnesota, now called Mesabi Metallics, with Magnetation and finish the $1.9 taconite pellet plant at the Essar site.


Raw Material Prices: Iron Ore, Scrap, Coking Coal, & Zinc

Sunday, April 23, 2017 1:09 AM Written by
Published in Commodities

This article covers iron ore, steel scrap, coking coal, and zinc spot prices. In this article, author Peter Wright reviews some of the key commodities and provides correlations that we believe our readers should be aware of and take into consideration when buying or selling steel. This data is normally reserved for our Premium level members but we decided to share it with our entire membership. This piece combines our own data analysis with recently published opinions that we find credible and is updated through April 23, 2017.


Cyclone Debbie Disrupts Coal Exports

Thursday, April 06, 2017 2:26 PM Written by
Published in Metallurgical Coal

Cyclone Debbie passed through Australia’s metallurgical coal region last week doing minimal damage to the mines and ports but shut down railway lines. Damage to the major coal carrying Goonyella rail corridor was extensive and may take as long as five weeks to repair. Australian companies estimate 15-20 million tonnes of met coal may be impacted.


Raw Material Prices: Iron Ore, Scrap, Coking Coal, & Zinc

Thursday, March 23, 2017 7:10 PM Written by
Published in Commodities

This article covers iron ore, steel scrap, coking coal, and zinc spot prices. In this article, author Peter Wright reviews some of the key commodities and provides correlations that we believe our readers should be aware of and take into consideration when buying or selling steel. This data is normally reserved for our Premium level members but we decided to share it with our entire membership. This piece combines our own data analysis with recently published opinions that we find credible and is updated through March 23, 2017.


Administration Scraps Buy American Requirement for Keystone XL

Friday, March 03, 2017 8:28 PM Written by
Published in Oil

Is it Buy American or not? That seems to be the question of the day. President Trump signed an executive order clearing the way for the construction of the Keystone XL and Dakota Access pipelines, adding in a memorandum to the Commerce Department that the steel pipe used in construction will have to be made in the United States.

In the January 24 Presidential Memorandum, Regarding Construction of American Pipelines, the Secretary of Commerce was ordered to “develop a plan under which all new pipelines, as well as retrofitted, repaired, or expanded pipelines, inside the borders of the United States, including portions of pipelines, use materials and equipment produced in the United States, to the maximum extent possible and to the extent permitted by law."


Raw Material Prices: Iron Ore, Scrap, Coking Coal, & Zinc

Tuesday, February 21, 2017 8:06 PM Written by
Published in Commodities

This article covers iron ore, scrap, coking coal and zinc spot prices. In this article, author Peter Wright reviews some of the key commodities and provides correlations that we believe our readers should be aware of and take into consideration when buying or selling steel. This data is normally reserved for our Premium level members but we decided to share it with our entire membership. This piece combines our own data analysis with recently published opinions that we find credible and is updated through February 19, 2017.


Trump Authorizes Keystone XL and Dakota Access Pipelines

Wednesday, January 25, 2017 2:58 PM Written by
Published in Oil

President Donald Trump signed an executive order on Tuesday giving permission for the Keystone XL oil pipeline project to advance as quickly as possible. While the announcement prompted mixed reaction in the United States, TransCanada said it appreciates the president’s invitation to proceed and will re-submit its application to do so.

"KXL creates thousands of well-paying construction jobs and would generate tens of millions of dollars in annual property taxes to counties along the route as well as more than $3 billion to the U.S. GDP,” said TransCanada spokesman Terry Cunha.


Cliffs Natural Resources Announces Exceutive Leadership Changes

Thursday, December 15, 2016 4:00 PM Written by
Published in Iron Ore

CLEVELAND, Dec. 14, 2016 -- Cliffs Natural Resources Inc. today announced the following executive leadership promotions, effective January 1, 2017.

P. Kelly Tompkins is named Executive Vice President & Chief Operating Officer. Mr. Tompkins, currently Executive Vice President & Chief Financial Officer, will oversee the U.S. Iron Ore and Asia Pacific Iron Ore Operations, as well as the Commercial and Business Development functions.

Timothy K. Flanagan is named Executive Vice President, Chief Financial Officer & Treasurer. Mr. Flanagan, currently Vice President, Corporate Controller, Treasurer and Chief Accounting Officer, will assume executive responsibility for Finance, Accounting, Tax, Treasury and Investor Relations


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