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Gold set for sixth successive weekly gain; US payrolls report in focus

Gold set for sixth successive weekly gain; US payrolls report in focus

Feb 7 (Reuters) – Gold prices rose on Friday, hovering near record-high levels and set for a sixth successive weekly gain, as trade war concerns fuelled safe-haven buying ahead of the key U.S. payrolls report. Spot gold was up 0.3% at $2,864.11 per ounce, as of 0721 GMT, and has gained more than 2% this […]

Rio Tinto faces new iron ore shipping snarls due to cyclones

Rio Tinto faces new iron ore shipping snarls due to cyclones

Rio Tinto said on Tuesday it had begun clearing iron ore ships from two Western Australian ports as two tropical cyclones offshore swell seas and complicate its efforts to repair infrastructure damaged by a previous cyclone last month. “Safety is our priority. As is procedure, we began sending ships from Cape Lambert Port at the weekend […]

ArcelorMittal to build new steel plant in US to meet auto sector demand

ArcelorMittal to build new steel plant in US to meet auto sector demand

ArcelorMittal said on Thursday that it would build an advanced steel manufacturing facility in Calvert, Alabama, as it seeks to increase its production capacity to meet demand from the U.S. automotive sector. The world’s second largest steelmaker said the plant would be able to deliver up to 150 kilotons of premium non-grain-oriented electrical steel (NOES) annually, […]

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