Latest Base metals industry News

Chinese buyer of British Steel looks to grow abroad

Nov. 13, 2019 6:03 AM EST

BEIJING (AP) — Jingye Group's purchase of British Steel Ltd. gives the privately owned Chinese steelmaker a chance to grow outside a home market dominated by giant state-owned mills. The deal adds to a string of global acquisitions by Chinese companies that want to speed their growth in industries from...

McConnell: Bevin 'had a good 4 years,' but likely lost

Nov. 11, 2019 2:38 PM EST

GHENT, Ky. (AP) — Senate Majority Leader Mitch McConnell says Kentucky Gov. Matt Bevin "had a good four years," but he says a review of Bevin's narrow reelection defeat is unlikely to change the outcome. Bevin trailed Democrat Andy Beshear by about 5,000 votes in the Nov. 5 election. A re-canvass of votes...

China's Jingye comes to the rescue of British Steel

Nov. 11, 2019 11:14 AM EST

LONDON (AP) — Chinese conglomerate Jingye has agreed to buy British Steel, in a rescue deal that potentially protects some 4,000 jobs and safeguards a strategic asset as Britain prepares to leave the European Union. Exact financial terms were not immediately disclosed Monday, and it was not clear what...

Italy presses steelmaker to agree deal on plant, save jobs

Nov. 7, 2019 2:05 PM EST

ROME (AP) — Italy has given steel maker ArcelorMittal a few days to agree to a plan to keep operating a major southern Italian steel plant, where the company says legal challenges and a "climate of hostility" will hinder its business plans. Political pressure was building Thursday both within Italy's...

Why Trump tariffs haven't revitalized American steelmakers

Nov. 4, 2019 12:53 PM EST

WASHINGTON (AP) — President Donald Trump's move last year to tax imported steel triggered jeers but also cheers. Its goal — to raise steel prices — threatened to hurt the legions of U.S. manufacturers that depend on steel. But at least it would benefit U.S. steel companies and the Americans...

Why Trump tariffs haven't revitalized American steelmakers

Nov. 4, 2019 12:40 PM EST

WASHINGTON (AP) — President Donald Trump's move last year to tax imported steel triggered jeers but also cheers. Its goal — to raise steel prices — threatened to hurt the legions of U.S. manufacturers that depend on steel. But at least it would benefit U.S. steel companies and the Americans...

Why Trump tariffs haven't revitalized American steelmakers

Nov. 4, 2019 12:20 PM EST

WASHINGTON (AP) — President Donald Trump's move last year to tax imported steel triggered jeers but also cheers. Its goal — to raise steel prices — threatened to hurt the legions of U.S. manufacturers that depend on steel. But at least it would benefit U.S. steel companies and the Americans...

Zambia's founding leader protests mining project in park

Oct. 31, 2019 11:12 AM EDT

LUSAKA, Zambia (AP) — Zambia's founding president Kenneth Kaunda has issued a rare public plea to protest the construction of a major copper mine in a national park on the Zambezi River. The 95-year-old Kaunda says the mine planned for Lower Zambezi National Park "poses the biggest threat in history to the...

Report: Explosion at steel mill in Iran kills worker

Oct. 31, 2019 6:35 AM EDT

TEHRAN, Iran (AP) — Iran's official IRNA news agency says an explosion at a steel mill has killed a worker and injured two others. The report says the explosion happened on Wednesday night in a part of the factory where flammable items were kept. IRNA says the incident is under investigation. The two...

Indiana agency: Steelmaker too slow to act on chemical spill

Oct. 25, 2019 8:56 PM EDT

PORTAGE, Ind. (AP) — The state environmental agency said a northwestern Indiana steel mill knew it was leaking dangerous chemicals into Lake Michigan but failed to report the spill or act quickly to mitigate the risks. The cyanide and ammonia spill in August at the ArcelorMittal plant in Burns Harbor...