Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.
Read More(Bloomberg) — In the aluminum industry, closing a smelter is an agonizing decision. Once power is cut and the production “pots” settle back to room temperature, it can take many months and tens of millions of dollars to bring them back online. Yet Norsk Hydro ASA is preparing this month to do exactly that at […]
Read More(Bloomberg) — By 2:08 p.m. Shanghai time on March 8, it was clear that Xiang Guangda’s giant bet on a fall in nickel prices was going spectacularly wrong. Futures had just skyrocketed above $100,000 a ton and his trade was more than $10 billion underwater. It was threatening not only to bankrupt Xiang’s company, but […]
Read More(Bloomberg) — Copper plunged below $7,500 a ton as fears of a global economic slowdown piled pressure on industrial metals and deepened their retreat from record highs just months ago. Investors are fretting over a range of threats to demand, from Europe’s gas crisis to a US slowdown and renewed virus flare-ups in China. After […]
Read More(Bloomberg) — Copper prices tumbled to a 17-month low, extending last quarter’s slump, as deepening fears about a global economic slowdown drive a rout in industrial commodities. The red metal, widely considered a barometer of the world economy, fell as much as 3.7% to $7,955 a metric ton in London. Prices collapsed 20% in the […]
Read More(Bloomberg) — Iron ore plunged more than 7% in Singapore — giving up all its gains this year — as steel mills idled blast furnaces amid growing pessimism over the demand outlook in China. The steel-making ingredient has now lost around a fifth of its value in a run of declines that’s extended to an […]
Read MoreAlpha Metallurgical Resources, Inc., a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. As of December 31, 2021, it operated twenty active mines and eight coal preparation and load-out facilities. AMR $159.7800 6.7700 % 4.4200 Alpha Metallurgical Resources Inc Sector : Basic Materials Industry : Mining – Misc […]
Read More(Bloomberg) — Glencore Plc is the latest giant miner to pare back production forecasts, in what’s turning out to be a difficult start to the year for companies digging up some of the world’s most important raw materials. The trend across the industry is clear — the biggest companies aren’t producing as much as they […]
Read MoreThis company together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. AA $82.4400 1.7100 % 2.1200 Alcoa Corp Sector : Industrial Products Industry : Metal Products – Distribution Signal Short […]
Read More(Bloomberg) — Nickel fell by the maximum allowed for a second day as the market seeks to reset from last week’s historic short squeeze, while brokers were left stunned as yet another glitch delayed the start of trading in London. Nickel futures on the London Metal Exchange plunged by the 8% daily limit on Thursday […]
Read More(Bloomberg) — The tycoon whose big short bet on nickel helped trigger one of the most dramatic price spikes in history has told his banks and brokers that he doesn’t intend to reduce his position, according to people familiar with the matter. The move is a characteristic display of self-confidence from Xiang Guangda, the owner […]
Read More(Bloomberg) — An Australian nickel miner with ties to Tsingshan Holding Group Co., the world’s top producer of the material, resumed trading after an earlier plunge triggered a pause within an hour of morning trading in Sydney. Nickel Mines Ltd. closed closed 4.8% lower, trimming losses as much as 23% in its biggest drop since […]
Read More(Bloomberg) — Vale SA has closed the iron-ore production gap with its main rival Rio Tinto Group, and is even expected to report slightly higher output in the fourth quarter. Rio Tinto’s Australian mines churned out 84.1 million metric tons of the steel-making ingredient last quarter. In its production statement Thursday, Vale will report 85.6 […]
Read MoreOne of the unavoidable side effects of a global pandemic is the impact it has on businesses. For companies in service-focused industries, some of that impact was confined mostly to shifting their workforce to remote work models that enabled them to keep going. For production-oriented businesses, the challenge has been very different. Complying with distancing […]
Read MoreAlcoa Corporation (AA) Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process […]
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