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☆ Top trader Vitol eyeing metals market as global oil demand set to peak in 10 years, CEO signals
▼ + stars: | 2024-11-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

SINGAPORE — Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol, the world's largest independent energy trader. In contrast to the eventual decline of the crude industry, metals business is going to witness a "great deal of growth through the electrification phase," he added. "So we quite like the idea of being involved in the bigger metal markets. And the three bigger metal markets are steel and iron ore, copper and aluminum," he said. In August, Vitol announced its acquisition of Noble Resources, a Hong Kong-based trader specializing in oil, coal and metallurgical coke, which is used to make iron.

Persons: Russell Hardy, Hardy, Vitol Organizations: Vitol, Financial Times Commodities, Noble Resources, Reuters Locations: SINGAPORE, Singapore, Hong Kong, Mercuria

☆ India has emerged as one of the best global markets for the long haul. Here are the drivers—and how to play the rally
▼ + stars: | 2024-10-02 | by ( Pia Singh | In | ) www.cnbc.com time to read: +7 min

India's recent stock market surge has investors viewing the country as an emerging market poised for long-term outperformance. The India NSE Nifty 50 Index , the country's domestic stock market benchmark, has soared 18.7% this year, hitting record levels. "The data show that, historically, the Indian market has offered robust returns with reduced volatility." Going back to 2015, INDA has seen bigger annual gains and smaller declines than the broader emerging market fund. How to play the Indian market Financials are among investors' favorite spots in India's booming stock market.

Persons: It's, Malcolm Dorson, Dorson, GlobalX, Russell, —, EEM, INDA, Amr Abdel Khalek, Khalek, Jerome Powell, Venugopal Garre, Krishna Mohanraj, You've, Mohanraj Organizations: India NSE, Global, CNBC, U.S, Federal, Fed, Nasdaq, China, MRB Partners, Traders, Barclays, Diamond Hill Capital Management, HDFC Bank, ICICI Bank, Axis Bank, ICICI, HDFC, Whitehaven Coal, Prestige Estates Locations: India, China, Dorson, U.S, Whitehaven

☆ Cramer's Lighting Round: 'I'm going to say no' to Citigroup
▼ + stars: | 2024-09-10 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Citigroup's year-to-date stock performance. Stock Chart Icon Stock chart icon IES's year-to-date stock performance. Stock Chart Icon Stock chart icon IBM's year-to-date stock performance. Stock Chart Icon Stock chart icon Exxon Mobil's year-to-date stock performance. Stock Chart Icon Stock chart icon Alpha Metallurgical Resources' year-to-date stock performance.

Persons: Arvind Krishna Organizations: Citigroup, Citi, IBM, Parts, Exxon, Exxon Mobil, Alpha Metallurgical Resources

☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

☆ Stocks making the biggest moves midday: Macy's, MicroStrategy, Coinbase, Nvidia and more
▼ + stars: | 2024-07-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street . New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. SoftBank Group , Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore's $6.9 billion acquisition of Teck's metallurgical coal business.

Persons: Macy's, Stocks, Energy, CleanSpark, Masayoshi, SoftBank, Nio, Zeekr, Li, Emmanuel Papadakis, Teck, Alex Harring, Jesse Pound Organizations: Nvidia, New, Research, Street Journal, Arkhouse Management, Brigade Capital Management, Marathon, SoftBank, Arm Holdings —, Reuters, Francisco Partners, KKR, —, European Union, Li Auto, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Bloomberg, Getty Locations: SoftBank, Europe, Novo, Teck

☆ Counterfeit titanium was found in Boeing and Airbus jets. The FAA is investigating how it got there
▼ + stars: | 2024-06-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.

Persons: ”, Joe Buccino, “ Organizations: New, New York CNN, Boeing, Airbus, Federal Aviation Administration, New York Times, Times, FAA, Spirit, Max, “ Boeing, Alaska Airlines Locations: New York

☆ Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended
▼ + stars: | 2024-05-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

(Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images)LONDON — Anglo American rejected a third takeover proposal from rival BHP Group on Wednesday, as the companies agreed to extend talks deadline by one week. The British miner confirmed the third proposal from BHP offered about £29.34 per Anglo American share, based on undisturbed share prices as of market close on April 23. Shares of Anglo American were up 0.35% shortly after the announcement, while BHP shares fell over 3.4%. The combined companies would form a behemoth in copper mining and the world's largest player in the space, supplying 10% of global output, according to a Reuters analysis. Anglo rejected both previous offers, however, saying that they "significantly undervalue the company and its future prospects."

Persons: Stuart Chambers, Chambers, Duncan Wanblad Organizations: BHP, William WEST, WILLIAM WEST, Getty, BHP Group, London Stock Exchange, Limited, Iron Ore Limited, Rio Tinto Locations: Melbourne, Australian, AFP, American, London, Australia

☆ New Delhi’s Iron Pillar has been exposed to the elements for centuries. So why hasn’t it ever shown signs of rust?
▼ + stars: | 2024-05-07 | by ( Poonam Binayak | ) edition.cnn.com time to read: +7 min

The Quwwat-ul-Islam mosque is part of the UNESCO-listed Qutb Minar complex. Scientists both in India and abroad began studying the iron pillar in Delhi in 1912 to try to figure out why it hadn’t corroded. Stuart Forster/ShutterstockBeyond its metallurgical intrigue, the origin of the Iron Pillar is also veiled in mystery. In the epic poem “Prithviraj Raso,” penned by Chand Bardai, a courtier in the Chahamana dynasty under King Prithviraj Chauhan, the Iron Pillar holds great significance. “Bardai describes the Iron Pillar in Raso as a nail holding the Earth on the hoof of Sheshnag, the serpent king in Hindu mythology,” says Vikramjit.

Persons: Qutb, Anders Blomqvist, Balasubramaniam, Stuart Forster, Gupta, Chandragupta II, Vikramaditya, Vishnu, It’s, Garuda, Vikramjit Singh Rooprai, King Vikramaditya, Siddhanta, ”, Raja Anangpal, Qutbuddin, Prithviraj Raso, Chand Bardai, King Prithviraj Chauhan, “ Bardai, “ Raso, Anangpal, Qutub, Ravi Pratap Singh, Pragya Nagar Organizations: CNN, New Delhi’s UNESCO, UNESCO, Indian Institute of Technology, National Metallurgical Laboratory, Indian Institute of Metals, Varāhamihira, ASI, Survey Locations: Mehrauli, Islam, India, Delhi, Kanpur, Varah, Udayagiri Caves, Vidisha, Madhya Pradesh, “, Mihirapuri, Tomar, Raso

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ Audacious Ukrainian drone attacks keep doing massive damage to Russia's oil industry
▼ + stars: | 2024-04-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

The strikes are doing serious damage to Russia's oil and gas sector. Bloomberg reported that Russia's oil refining is at an 11 month low. AdvertisementBloomberg earlier this week reported that Russia's oil refining is at an 11-month low because of flooding and Ukraine's drone campaign. Ukraine's attacks on Russian oil depots are one of the few bright spots in its war in recent months. "Future Ukrainian drone strikes may disable and disrupt more of Russia's refining capacity and inflict critical constraints on Russian refining that begin to substantially impact Russia's production of distillate products," the analysts said.

Persons: —, Joe Biden's Organizations: Bloomberg, Service, AFP, Metallurgical, The Locations: Ukraine, Russia, Russia's Smolensk, Lipetsk, Russia's, Ukraine's, US

☆ Russia is expected to grow faster than all advanced economies this year
▼ + stars: | 2024-04-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesRussia's economy is expected to grow faster than all advanced economies this year, according to the International Monetary Fund. The prediction will be galling for Western nations which have sought to economically isolate and punish Russia for its 2022 invasion of Ukraine. In short, Russia has adapted to a "new normal" as its economy has been put on a war footing. The Washington-based IMF includes the U.S., U.K., the euro area's largest economies, Canada and Japan as advanced economies. "If you look at Russia, today, production goes up, [for the] military, [and] consumption goes down.

Persons: Vladimir Putin, Uralvagonzavod, Ramil Sitdikov, Kristalina Georgieva, CNBC's Dan Murphy, Georgieva, Elvira Nabiullina, Andrey Rudakov Organizations: Evraz Consolidated, Siberian Metallurgical, Bloomberg, Getty, International Monetary Fund, U.S, Sputnik, Afp, IMF, TU, CNBC, World Governments, Bank of Russia, Duma Locations: Evraz Consolidated West, Novokuznetsk, Russia, Germany, France, Ukraine, India, China, Russian, Urals, Nizhny Tagil, Washington, Canada, Japan, Europe, Asia, Kazan, Dubai, Soviet Union, Russia's

☆ Top performing investor doubts Nvidia is really worth this much, buying 2 unusual stock plays instead
▼ + stars: | 2024-04-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

"If you look at AI stocks or Nvidia in particular … Nvidia's a phenomenal company, massive revenue growth, massive earnings growth, but there's a question — how wonderful are they? Miller said Nvidia is inherently different from companies such as Microsoft and Apple, which he thinks are worth their $2 billion valuations. Nvidia shares more than tripled in 2023 as investors flocked into the AI darling. Metallurgical coal companies are trading very cheaply alongside their thermal coal peers since investors are "throwing the baby out with the bathwater," Miller said. "There's going to be more metallurgical coal used over the next three to five years, but there's no new supply coming online."

Persons: David Miller, Miller, haven't, there's, Morningstar Organizations: Nvidia, Catalyst Funds, CNBC, Microsoft, Apple, Alpha Metallurgical Resources, Metallurgical Locations: U.S

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Glencore's 2023 earnings halve on lower commodity prices
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: +1 min

An employee stands by a logo for Glencore Agriculture in Glencore Plc's offices in Rotterdam, Netherlands. Glencore said on Wednesday lower commodity prices had halved its earnings last year, and slashed its payout to investors, as the company saves to fund the acquisition of a 77% stake in Teck Resources' metallurgical coal business. After two consecutive record years, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) halved to $17.1 billion from $34.1 billion a year earlier, in line with analysts' consensus estimates of $17.15 billion. In preliminary 2023 results, the miner and trader said net debt stood at $4.92 billion at the end of the year, from just $75 million at the end of 2022. London-listed Glencore's payout of $1.6 billion announced on Wednesday does not include a new buyback scheme, after the existing one ends this month, nor a special dividend, as the company uses its cash to fund the $6.9 billion acquisition of Canadian miner Teck's steelmaking coal unit.

Persons: Glencore Organizations: Glencore Agriculture Locations: Glencore, Rotterdam , Netherlands, Teck Resources, London

One morning in September, a truck disgorged its load of pulverized rock with a resounding bang inside Stillwater Mining’s metallurgical plant north of Yellowstone National Park. The mined ore contains platinum, palladium and rhodium, three of the earth’s rarest, most expensive metals — and vital components in the millions of catalytic converters that reduce polluting emissions from gasoline-powered vehicles. At the opposite end of the plant was another batch of metal, not from the mine but from used catalytic converters ground into powder for recycling. The new and the old metals would later be blended under intense heat, then shipped to a refinery. Recycling catalytic converters costs less than mining the ore.

Locations: Yellowstone, Stillwater

"These investments are being made in areas with very high growth," Christel Bories, Eramet's chair and CEO, told Reuters. "Lithium is not tied to world economic growth, it's tied to the development of batteries and the energy transition." A $400 million deal with Glencore (GLEN.L) to market lithium from the project's first stage will mostly cover Eramet's financing needs for the next tranche, Bories said. In Chile, meanwhile, the group said it had acquired for an initial $95 million a 120,000-hectare lithium concession in the Atacama region. Reporting by Gus Trompiz, Editing by Charlotte Van Campenhout and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Alvarado, it's, Bories, Eramet's, Gus Trompiz, Charlotte Van Campenhout, Louise Heavens Organizations: National Reserve, REUTERS, Rights, Reuters, Centenario, BASF, Koniambo, SAS, Thomson Locations: Antofagasta region, Chile, Argentina, Indonesia, Centenario, Atacama, Gabon, China, New Caledonia, SLN

That fell to 21-22 million tonnes by 2021, and after Russia invaded last year, output hit 6.3 million in 2022. But even with consumption nearly doubling to 2.6 million tonnes between January and September, that is not enough to sustain a sector that used to export four fifths of its output. Zaporizhstal expects to export two thirds of its 2.4-2.5 million tonnes of iron ore and rolled steel production in 2023. Before the invasion, output was 4.2 million tonnes a year. "We can say that blackouts last winter (reduced) steel production by two to three times," Zinchenko said, citing production data for the months when blackouts were most regular.

Persons: Oleksandr Ratushniak, ZAPORIZHZHIA, Roman Slobodianiuk, Ukraine's, Oleksandr Kalenkov, Slobodianiuk, Stanislav Zinchenko, Medkov, Oleksandr Yasunas, Zinchenko, Mike Collett, White, Barbara Lewis Organizations: Steel, REUTERS, Staff, Reuters, GMK, Thomson Locations: Ukraine, Zaporizhzhia, Russia, Soviet, Ukrainian, Mariupol, Europe, Odesa, Kyiv, Romania, Bulgaria, Turkey, Russian

☆ Australian miner South32's met coal output falls on Illawarra disruptions
▼ + stars: | 2023-10-23 | by ( John Biju | ) www.reuters.com time to read: +2 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. As a result, production volumes at Illawarra operations are expected to be weighted to the second half of fiscal 2024, the miner said. Regardless, South32 kept its forecast of 4.4 million metric tons of annual metallurgical coal output from Illawarra, down from last year's 5.5 million tons. Production of metallurgical coal fell to 1.0 million tons in the three months to Sept. 30, from 1.3 million tons a year earlier. That was slightly lower than a consensus estimate of 1.1 million tons compiled by Visible Alpha.

Persons: South32, David Gray, Graham Kerr, John Biju, Roushni Nair, Lisa Shumaker, Jamie Freed, Subhranshu Organizations: REUTERS, Citi, Alpha, Thomson Locations: Perth, Western Australia, New South Wales, Illawarra, Bengaluru

☆ Australia's South32's Q1 metallurgical coal output falls on Illawarra bottlenecks
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies South32 Ltd FollowOct 23 (Reuters) - Diversified miner South32 (S32.AX) posted an 18% drop in first-quarter metallurgical coal output on Monday, as production was affected by disruptions at its Illawarra project in New South Wales. South32, the world's biggest producer of manganese, is facing operational headwinds at its Illawarra Metallurgical Coal project after the miner undertook an extended planned longwall move at the Dendrobium mine. The Perth-based miner said production of metallurgical coal, used to make steel, fell to 1.0 million metric tons in the three months to Sept. 30, from 1.3 million metric tons a year earlier. That was slightly lower than a consensus estimate of 1.1 million metric tons compiled by Visible Alpha.

Persons: South32, David Gray, John Biju, Roushni Nair, Lisa Shumaker Organizations: REUTERS, South32, Illawarra Metallurgical Coal, Alpha, Thomson Locations: Perth, Western Australia, New South Wales, Illawarra, Dendrobium, Bengaluru

It was unclear what stake JFE was seeking or what price it was offering. Japan's Nippon Steel (5401.T) has previously said it was looking to buy a 10% stake in Teck's coal business for C$1.15 billion, valuing the overall business at about C$11.5 billion, with an option of increasing its stake to 17.5%. Glencore has said it will consider buying the coal business for about $8.5 billion. JFE Steel holds 15% equity in India's JSW Steel (JSTL.NS), which was also exploring an investment in Teck's coal business. Price said the company had two options -- a 100% sale of the coal business for cash or a partial sale of the coal business, with proceeds going to growing the copper business.

Persons: Chris Helgren, Glencore, Major steelmakers, Teck, JFE, Jonathan Price, Price, Divya Rajagopal, Neha Arora, Denny Thomas, Nick Zieminski, Rod Nickel Organizations: Teck Resources, Developers Association of Canada, REUTERS, Rights, JFE Steel Corp, Canada's Teck Resources, Reuters, Japan's Nippon Steel, JFE Steel, JSW, Thomson Locations: Teck, Toronto , Ontario, Canada, Canada's Teck, Russia, JFE, Tokyo, Australia, Swiss, Toronto, India

"We requested China to allow us to be a part of the China-Pakistan Economic Corridor and Belt and Road Initiative... (and) are discussing technical issues today," acting Commerce Minister Haji Nooruddin Azizi told Reuters in an interview a day after the Belt and Road Forum ended in Beijing. The Pakistan "economic corridor" refers to the huge flagship section of the Belt and Road Initiative (BRI) in Afghanistan's neighbour. Asked about the MCC talks, Azizi said discussions had been delayed because the mine was near a historical site, but they were still ongoing. Afghanistan and 34 other countries agreed to work together on the digital economy and green development on the sidelines of the Belt and Road Forum on Wednesday. Additional reporting by Ahmad Masih Noori and Charlotte Greenfield in Kabul; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Haji Nooruddin Azizi, Tingshu Wang, Xi Jinping's, Azizi, Ahmad Masih Noori, Charlotte, Miral Organizations: Reuters, Embassy, REUTERS, Metallurgical Corp, Pakistan Economic, Initiative, China Ltd, MCC, Islamic State, Taliban, Thomson Locations: Afghanistan, Beijing, China, Taliban, BEIJING, Kabul, Pakistan, Afghanistan's, Charlotte Greenfield

☆ Global miner BHP to focus on cost cuts, patient on M&A
▼ + stars: | 2023-10-05 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

MELBOURNE (Reuters) -Global miner BHP Group is focused on cutting costs to drive growth while being patient on buying assets, its chief development officer Johan van Jaarsveld said on Thursday in Melbourne. A view of a new nickel sulphate plant that global miner BHP Group is building to service the battery industry at its Nickel West operations, south of Perth, Australia August 2, 2019. REUTERS/Melanie Burton/File photo“This is a cyclical industry, and you sometimes are going to have to wait for 10 years or may be more to get the right opportunity at the right price,” van Jaarsveld said. “BHP’s Oz Minerals Brazil is not on the market,” van Jaarsveld said. We are looking at what we have got,” adding “you don’t want to sell assets, potentially and then somebody else make a big discovery.”

Persons: Johan van Jaarsveld, Melanie Burton, ” van Jaarsveld, Van Jaarsveld, ”, you’ve, you’re, “ Organizations: MELBOURNE, Global, BHP, REUTERS, Teck Resources, Oz Minerals Locations: Melbourne, Perth, Australia, Tanzanian, Indonesia, Teck, Queensland, Brazil, Oz, Oz Minerals Brazil

LOS ANGELES (AP) — Environmental groups called on federal regulators Thursday to immediately shut down one of two reactors at California’s last nuclear power plant until tests can be conducted on critical machinery they believe could fail and cause a catastrophe. “We will not sit idly by while PG&E cuts corners on Unit 1’s safety,” Hallie Templeton, legal director for Friends of the Earth, said in a statement. Friends of the Earth, a longtime critic of plant safety, was a central player in negotiating the 2016 closing agreement. He noted that unlike most other reactor safety components, the pressure vessel has no independent backup system that can be called upon if it should crack or fracture and lose essential cooling water. According to the NRC, embrittlement occurs as a result of reactor operation when neutrons from the nuclear fuel irradiate the steel plates and welds used to construct the reactor vessel.

Persons: Peace, “, ” Hallie Templeton, Suzanne Hosn, ” Hosn, Gavin Newsom, Digby Macdonald, ”, Macdonald, ” Macdonald, Critics, Newsom, it’s Organizations: ANGELES, —, Nuclear Regulatory Commission, Pacific Gas &, Democratic, University of California, NRC Locations: Los Angeles, San Francisco, California, Washington, Berkeley

This is because blast furnaces operate around the clock and need more workers. Goncalves is also betting that producing iron ore in-house for blast furnaces, rather than sourcing scrap steel for electric arc furnaces, will give Cliffs a competitive edge. While a few carmakers use aluminum for automotive bodies, most prefer high-grade steel from blast furnaces. Cliffs' devotion to blast furnaces, which are unionized unlike some electric arc furnaces, won it the support of United Steelworkers. The union's international president Thomas Conway said it's backing Cliffs' bid for U.S. Steel because of Goncalves' commitment to blast furnaces.

Persons: Lawrence Bryant, Lourenco Goncalves, Goncalves, Josh Spoores, Donald Trump, Phil Gibbs, Thomas Conway, Joe Biden's, Isla Binnie, Bianca Flowers, Greg Roumeliotis, Daniel Wallis Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Cliffs Inc, U.S, U.S . Steel Corp, AK Steel, CRU Group, Steel Dynamics, Steel, Reuters, United Steelworkers, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, CHICAGO, United States, Cleveland, North America, Asia, Toledo , Ohio, New York, Chicago

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