AISI: US Raw Steel Production in the week ending on February 10, 2024.

Western Australia said on Saturday it would offer royalty relief to nickel producers in a bid to buoy the struggling industry.

The Koniambo Nickel SAS (KNS), a joint venture (JV) between Société Minière du Sud Pacifique SA and Glencore in New Caledonia, will transition into care and maintenance, it was announced on Monday.

Indonesia and Vale Base Metals have concluded negotiations and agreed to a price for the portion of shares the miner will sell in its Indonesian unit, the mining minister said on Friday.

The French government plans to offer fresh subsidies and loans for a New Caledonia nickel plant co-owned by commodities group Glencore but won’t go any further than that, Finance Minister Bruno Le Maire said on Tuesday.

He wouldn’t say if he’d make another offer for US Steel if the Nippon deal collapsed.

Full-year 2023 net earnings was $895 million, or $3.56 per diluted share, and adjusted net earnings was $1,195 million, or $4.73 per diluted share.

“My understanding is steel consumers, steel customers are much happier with Nippon as the buyer,” Wolfe Research analyst Timna Tanners said at the Tampa Steel Conference.