The latest news from around the world on the markets, sectors and companies Casey Research specializes in. Click any headline to read the full article.
Rare Earths Are Becoming a Lot More Rare August 17, 2010
Interest in rare earths is starting to heat up in a dramatic fashion and it is something you should keep on your radar. So named because they were hard to get in the 18th and 19th century, these once obscure elements have become the focus of several converging trends in the global economy, as they are the key ingredient of magnets. There are 17 in all, divided into light (cerium, Ce; lanthanum, La, and neodymium, Nd) and heavy (dysprosium, Dy; terbium, Tb, and europium, Eu).
China Becomes Largest Global Energy Consumer August 17, 2010
Since the early 1900’s the U.S. has been the world’s largest energy consumer and the world’s largest auto manufacturer. It took a century to accomplish, but last year China knocked the U.S. from its perch as the world's largest auto market. Last month the International Energy Agency claimed China’s total energy usage exceeded the U.S. for the first time last year – making China the world’s largest energy consumer.
Potash Rejects $39 Billion Bid From BHP Billiton August 17, 2010
Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, rejected an unsolicited $39 billion takeover proposal from BHP Billiton Ltd. as too low, prompting speculation of a higher bid.
BlueScope: demand weak, even as profits jump August 16, 2010
Australia's biggest steel maker said while it has short-term concerns about demand and a stronger Australian dollar, it is planning for significantly improved market conditions in the medium to long term.
The Expendables? Beware the Sequel August 16, 2010
China overtook Japan for the title of "world’s No. 2 economy." Following thirty years of relentless hard work and unwavering determination, the country can now boast that it is, in fact, on course to capture the top global economic spot as well – in about another two decades – and wrest it away from the United States...
Gold and Goldman Sachs August 13, 2010
Is Goldman Sachs suggesting $1,300 gold within six months a cue for further growth in price or a contrarian indicator that the top may have been reached?
Bolivian govt trying to defuse silver mine protest August 13, 2010
The strikes, which have been going on for more than two weeks in the mineral-rich Potosi region, have disrupted production at three mines including two of the world's biggest silver deposits.
Canada's north adds mining production, exploration August 13, 2010
The Conference Board of Canada has found a turnaround in the U.S. and global economic growth has reignited interest in diamonds, precious metals and other hardrock mining in Canada's three territories.
Chinese spending on gold sextupled in the 00's August 13, 2010
The annual rate of growth of gold spending in China has been 23% this decade and the nation's gold purchases could see an additional 200 tonnes of consumption in the next decade.
Gold stocks HUI bull market seasonal analysis August 13, 2010
Precious-metals stocks really haven’t had a great summer by any means. After rallying initially in June, they started relentlessly drifting lower in July. The net result of this lackluster summer trading is a lethargic drift sideways. Naturally this listlessness has weighed on sentiment among this sector’s traders.
South African gold production down 5.3% in June August 12, 2010
Gold output in the country fell 5.3 percent in volume terms and total mineral production fell 4.9 percent in June compared with the same month last year, data showed on Thursday.
Rain may cut Indonesian tin output 20% August 12, 2010
The new government forecast would take output towards levels already expected by analysts because of declining reserves and a crackdown on illegal mining.
Gold miners face transitions August 12, 2010
Numbers from seven of the world's biggest gold diggers show that Gold miners are in the money, but face headwinds in rising costs, and scarce "pure gold" opportunities.
Fear of not flying August 12, 2010
For the first time in six years, Japanese authorities drew one step closer to halting the seemingly endless gains in the yen via Finance Minister Noda’s cryptic message that his government will take "appropriate" action with regard to the currency. Japanese exports have come under threat from the gains the yen achieved following the Fed’s steps to boost US economic recovery on Tuesday. The currency rose beyond 85 against the US dollar; a fifteen-year high.
Rio Tinto eyeing stake in Russia's Uralkali August 12, 2010
Global majors Rio Tinto and Potash Corp may buy into Russian potash miner Uralkali, sources said on Thursday, as the government seeks a full overhaul of the fertilisers industry.
Copper demand may outstrip supply in 2011 for the first time in four years as China, the world’s biggest consumer, sustains purchases and as ore grades decline, Japan’s largest smelter said.
“Supplies won’t catch up with demand next year and we expect there to be a deficit of 200,000 metric tons,” Hidenori Kamoo, general manager of the marketing department at Pan Pacific Copper Co., said in an interview yesterday.
Copper, used in pipes, tubes and wires, faces a “deepening supply crunch” and record prices are highly likely in the next two years, Barclays Capital said in a report on July 27. Prices for immediate delivery will average $7,763 a ton next year as a market shortage widens, the bank said. The spot price in London has averaged $7,088 this year.
“With few new large-scale mines on the horizon and stagnation at existing facilities, in our view, price direction will be upwards given the approach of multiyear deficits,” Barclays said. Demand will exceed supply this year by 132,000 tons and by 386,000 tons next year, the bank said.
Pan Pacific expects the market to be balanced this year because of China’s higher-than-expected first-half demand, Kamoo said. The company had forecast a 300,000-ton surplus, he said.
China imported 1.6 million tons of refined copper in the first half, down from a record 1.8 million tons in the year-ago period, according to data from the Beijing-based Customs General Administration. The country imported 1.5 million tons in 2008.
“Even though global demand for cathode may a bit slow later this year following Europe’s sovereign-debt problems and China’s tightening monetary policy, supplies will remain very tight, especially in East Asia,” he said. Pan Pacific predicted global demand will increase 6.9 percent in 2010 and 3.8 percent in 2011, he said.
Should smelters continue to see lower grades of ore, falling processing fees and tight supplies of scrap, some may reduce production of refined metal later this year, Kamoo said.
Pan Pacific plans to produce 7 percent less than its annual capacity in the April to September period, while Sumitomo Metal Mining Co., the country’s second-largest producer, expects a 10 percent output cut in the year started April 1.
“We cannot rule out the possibility smelters may cut output further from October if unfavorable market conditions continue,” he said. “The end of subsidies for eco-friendly vehicles in Japan may also drive metal producers at home to consider output cuts,” he said.
Japan’s subsidy program, which exempts purchases of electric, hybrid, natural gas and some diesel vehicles from taxes, will expire at the end of September.
Demand from the auto and semiconductor sectors in Japan, South Korea and Southeast Asian nations has pushed physical premiums higher, he said. Copper premiums for China may be more than $100 a ton in 2011, from $85 a ton this year, he said.
Spot premiums for Shanghai on a cost, insurance and freight basis stood at $100-$120 a ton, up from $70-$100 a ton last year, Kamoo said.
Copper for three-month delivery dropped 0.9 percent to $7,361 a ton on the London Metal Exchange at 12:18 p.m. Tokyo time. Stockpiles tracked by the LME fell 0.5 percent to 410,475 tons yesterday, the lowest level since Nov. 17.
--Editors: Jarrett Banks, Matthew Oakley
To contact the reporters on this story: Jae Hur in Tokyo at email@example.com; Ichiro Suzuki in Tokyo at firstname.lastname@example.org
According to a spokesman at the world's largest copper producer, "the growth in demand in China is practically unstoppable".
SHANGHAI (Reuters) -
China's copper demand is expected to grow at 8 percent this year from last year, and at a similar pace next year, a senior executive of Chile's Codelco, the world's largest copper producer, said on Thursday.
"The growth of demand in China is practically unstoppable," Rodrigo Toro, corporate senior sales vice president of Codelco, told reporters on the sidelines of a meeting with clients.
Toro said Beijing's tighter monetary policy was a healthy dose to control the country's breakneck growth.
"We are happy to see the demand in China will continue at very healthy rate, not as big as would be at 12 percent GDP growth, because producers would not be able to respond to that additional demand."
He said the global copper demand growth would be 4 percent this year, but added it might improve next year if the economy picked up pace.
Codelco produced 1.782 million tonnes of copper in 2009, up 16 percent from a year earlier, after years of dwindling output.
The company expected to maintain the same level of output this year as well as in the next two years, its chief executive Diego Hernandez, told clients earlier.
The company said earlier this year that it planned to invest $3 billion each year for the next five years to revamp century-old mines and exploit new deposits as part of its plan to lift output to around 2 million tonnes of copper per year.
Ninety percent of Codelco's copper production is in the form of cathode, but the ratio of copper concentrate is expected to rise in the next 7 to 8 years after the expansion projects at Mina Ministro Helas and Andina mines are executed.
Toro said the company will focus on resources in Chile, rather than venturing overseas, in the period.
"We would be impractical to be thinking of additional projects in the next five years," he said.
Toro declined to forecast term premiums for next year, but said if based on current situation in the market, term premiums should rise for 2011.
Chinese merchants are keen to build copper stocks in the next few months through bargain-hunting, fed by expectations term premiums to China for shipments next year will rise to over $100 over cash LME prices MCU0 for Chilean refined copper cathode imports, up 18 percent from this year's $85 level. [ID:nTOE66S08T]
Copper treatment fees, also known as TC/RC, were expected to remain at low levels, Toro also said.
"Treatment charges for copper concentrate will remain extremely low for quite some time. The overcapacity in smelting and refining is so big that the demand for concentrate will exceed largely the possibility of supply of copper concentrate," he said. (Reporting by Rujun Shen and Jacqueline Wong; editing by James Jukwey)
The latest news from around the world on the markets, sectors and companies Casey Research specializes in. Click any headline to read the full article.
So, Fed's choice? August 9, 2010
US Treasuries and crude oil went their merry opposite ways overnight, as the former held near their lows over in Europe on anticipation the Fed may engage in fresh bond purchases, and the latter climbed on bets that the US economy will recover at a better pace [perhaps owing to such Fed largesse].
Gold and silver huge short position August 9, 2010
There is a case to be made that world production is not the only issue, but the available supply is just as important, if not more.
US economy structural problems still intact August 9, 2010
Bill Watkins, a California Lutheran University professor, provides a nice summary on New Geography of the failure of various stimulus efforts to do anything meaningful in the wake of a collapse by Lehman, a collapse he says is a "regime shift".
Where's the copper to come from?.. August 9, 2010
According to Robert Friedland we need to mine as much copper in the next 20 years as we have in the past 110 - where is this copper to come from?
China pushes for gold; India follows suit August 9, 2010
Hot on China's heels, India's Central bank is mulling over a proposal to allow banks to trade in gold. If cleared, the move will only strengthen the validity of the bull case in gold.
Vale announces plans to extend new Peru mine August 6, 2010
Vale CEO, Roger Agnelli said the Bayoyar phosphate mine will be expanded over the next 18 months and added that he expects iron ore prices to hold steady around $140 per tonne.
In the second quarter, there were 142 announced deals totaling $37 billion in the oil and gas sector – that’s the highest level of M&A activity in 18 months. In the same period late year, M&A deals were worth just $14 billion.
The golden decade August 6, 2010
As gold hovers near $1,200 an ounce and pundits speculate about a 'gold bubble', it's important for investors to remember that a mere decade ago the picture was very different. In the year 2000, gold sat at an unimpressive annual average of $279 an ounce - a two-decade low. At that time, most analysts thought gold was finished as a monetary metal. They said its price would never recover and only kooks with tin hats would invest in it. I was one of the very few financial commentators publicly saying that gold was not only viable, but entering a long-term uptrend.
How important is gold to the states? August 6, 2010
Since the demise of the Gold Standard, monetary authorities have tried as many ways as possible out there to sideline gold as part of the monetary system. Since the early eighties they have succeeded to some extent, but this was by discrediting it and by emphasizing the benefits of paper currencies. Paper money in a paper system was working very well and everybody felt that much more prosperous, so ignored gold's departure.
New gold ETF planned... August 5, 2010
ETF Securities is looking to launch a new gold ETF which will hold the gold backing it in secure vaults in Singapore to parallel its similar ETF which holds its gold in Switzerland.
Gold on a fast boat to China August 5, 2010
As China's position in the global economy expands, so the reaction from the West should perhaps be less antagonistic and more like that of gold.
Yellow, black gold are shining August 5, 2010
Commodities have been shining recently as the US dollar loses its luster for investors. Also the weakening dollar has helped boost equities as a lower US currency helps the large multi-national companies. This report is a quick follow-up from my report showing what the odds were favoring – which was higher gold, oil and S&P 500. As of today each investment is unfolding as planned, one candle at a time.
Take the next exit ahead August 5, 2010
The enactment of exit strategies by the ECB as well as the Bank of England remained on hold this morning as both institutions left key interest rates unchanged, at 1% and 0.5% respectively. The central banks appear to be eyeing the continuing but fragile recovery in their respective economies and are opting to remain on the "loose" end of interest rate policies for the time being. The psychology of the moment remains defined by ensuring that growth really sticks and intangibles such as confidence show clear signs of having become fully repaired.
State to stay out of Norilsk Nickel August 4, 2010
The Kremlin on Tuesday ruled out the possibility of the government buying a stake in Russia’s biggest mining company, Norilsk Nickel, to end a bitter dispute between its two major shareholders, Oleg Deripaska and Vladimir Potanin.
In trading on Monday, shares of Ormat Technologies Inc (Symbol ORA) crossed above their 200 day moving average of $27.55, changing hands as high as $27.74 per share. Ormat Technologies Inc shares are currently trading up about 2.1% on
Stocks closed with modest gains Monday as Wall Street grappled with the outcome of Sunday's pivotal Greek election with mostly upbeat earnings, and the potential economic fall out from a massive winter storm in the Northeast. The Dow Jones
A sudden sharp drop inside the last hour that produced the loss of around 20 points may well have had some market watchers thinking, initially at least, that the Toronto Stock Exchange, Canada's main market, was set for a
Top Health Care Stocks JNJ 0.14% PZE +0.57% MRK +0.35% ABT +0.50% AMGN 0.26% Health care stocks were slightly higher with the NYSE Health Care Sector Index climbing about 0.1% and shares of health care companies in the S&P;
Top Tech Stocks MSFT 1.11% AAPL +0.23% IBM +0.27% CSCO 0.78% GOOG 1.09% Technology stocks were mostly lower in late trading with shares of technology companies in the S&P; 500 dropping about 0.5%. In company news, Microsoft ( MSFT
Top Consumer Stocks WMT +0.01% MCD +1.24% DIS 0.03% CVS +0.25% KO 0.90% Consumer stocks were finishing mixed this afternoon with shares of consumer staples companies in the S&P; 500 slipping about 0.2%. Shares of consumer discretionary firms in
Top Financial Stocks JPM +0.11% BAC +0.45% WFC +0.34% C +0.37% USB +0.18% Financial stocks were adding to narrow gains earlier today with the NYSE Financial Sector Index climbing around 0.5% and the S&P; Financial 100 Index ahead by
Top Energy Stocks XOM +0.68% CVX +1.77% COP +1.70% SLB +1.70% OXY +1.55% Energy stocks were ending broadly higher today with the NYSE Energy Sector Index rising nearly 1.5% while shares of energy companies in the S&P; 500 were
The following are the biggest percentage decliners on the TSX Venture Exchange in mid afternoon trading with their price movements NUNAVIK NICKEL MINES (KZZ.V), $0.08, 0.06, 42.86% REG TECHNOLOGIES (RRE.V), $0.06, 0.04, 42.86% ECO ATLANTIC OIL AND GAS (EOG.V),
The following are the biggest percentage gainers on the TSX Venture Exchange in mid afternoon trading with their price movements EQUITORIAL EXPLORATION (EXX.V), $0.15, +0.05, +42.86% OCEANIC IRON ORE (FEO.V), $0.24, +0.05, +26.32% PACIFIC SAFETY PRODUCTS (PSP.V), $0.14, +0.02,
The TSX was still a little changed by mid afternoon, shedding only 7 points, after mining stocks recovered, offsetting the weakness in the telecom group. The benchmark index has been in the negative territory since opening bell after the
Expected Earnings Release 01 26 2015, After hours Avg. Extended Hours Dollar Volume $2,708,555 Plum Creek Timber Company, Inc. ( PCL ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history,
Texas Instruments ( TXN ) ekes out favoring the short play off its earnings report so a decline or gain in tonight's after hours session following the company's Q4 report offers modest opportunities for traders willing to test the
Microsoft ( MSFT ) is slated to report its Q2 results in tonight's after hours session, and analysts polled by Capital IQ are expecting the software giant to report a profit of $0.74 per share on revenue of $26.27
Top Health Care Stocks JNJ 0.20% PZE +0.91% MRK +0.54% ABT +0.52% AMGN +0.14% Health care stocks were slightly higher, with the NYSE Health Care Sector Index climbing about 0.2% and shares of health care companies in the S&P;
Hundreds of miners in Kosovo are back on shift following a three-day work stoppage to protest against the Kosovo government, which backtracked on an earlier decision to take control of the Trepca mining complex.
The Express Tribune reported that after the Pakistan government refused to provide gas at a discounted rate to Tuwairqi Steel in Pakistan, the Saudi government has committed to providing Al Tuwairqi Holding with cheaper gas. The move comes after the ...
Sable Mining signed a $1.3 billion deal to export iron ore via Liberia on Friday, offering the London-listed firm the transport link it has so far lacked to exploit the site in Guinea where the ore is mined. The agreement was signed by the head of the Liberia National Investment Commission George Wisner and Sable non-executive director Aboubacar Sampil in the nation's capital Monrovia.
ANC signed the agreement with the Iranian Mines and Mining Industries Development and Renovation (IMIDRO) - a major state-owned holding company mostly active in the mining sector in Iran. The company will also build a steel mill as well as a plant for ...
A large, red, and suggestively-shaped cloud of smoke got locals giggling. Neighbours posted pictures on a local Facebook community page following the discharge from local steelworks company Tata Steel earlier that day.
In 2014 Ferrexpo plc, owner of the Poltava and Yeristovo Mining and Processing Works (PGOK and EGOK), increased its output of pellets of its own raw materials by 2%, to 10670.54 thousand tons, and those of purchased raw materials – by 1%, to 350.86 thousand tons, all YoY. This resulted in the overall increase of
Companhia Siderurgica Nacional (NYSE:SID ... which is active in the production of iron ore; Cement sector, which is involved in the manufacture of cement, as well as in the exploration of limestone and dolomite; Logistics sector, which consists of around ...
The All Odisha Steel Federation (AOSF), representing companies like Visa Steel, Arti Steel and Maithan Ispat, has objected to OMC's decision to fix the base price for iron ore at around Rs 3,808 a tonne for its second auction to be held on January 27 ...
ArcelorMittal SA (ADR) (NYSE:MT) currently has an RSI of 28.66. The stock is down 16.25% in one month through last close, to $9.28, showing a -28.28% return during the past three months. The share price is up from fifty two week low with 0.76% and down ...
Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year.Cooling Chinese steel demand forced some steel mills to bring forward plant maintenance, which usually takes place during the Chinese New Year, which falls on February 19. Mills looked to curb oversupply that helped knock nearly a third off prices last year in the world's top producer of the alloy.
BEIJING (AP) China recorded its first drop in coal production since 2000 last year, as the world's biggest greenhouse gas emitter pulls back on its use of the fossil fuel and switches to cleaner energy sources.
The seismic design loads and poor condition of the structure required adding 1,345 tons of steel within the existing structure. Hart Crowser used state-of-the-art seismic design and also took helical pile technology to another level in engineering practice ...
** Shares of iron ore miners BHP Billiton Ltd, Rio Tinto, Fortescue Metals Group down 2 pct, 1.3 pct and 6 pct respectively ** Iron ore prices hit their lowest in 5-1/2 years on Monday, as some loss-making ...
Victory produces vocational training software and training videos for basic blue-collar jobs, according to Grand Group Investment, primarily in the metal-working sector. The 33% stake was acquired for CNY196 million. In the pipeline is Fujian Xinya Group ...
The steel ministry is set to seek a sharp increase in peak rate of basic customs duty on steel products to 25% from 10%, a measure that it wants to be announced in the Budget next month to help stem the tide of cheap imports from China and, more recently, Russia.
Last Saturday, the 12in steel pipe that runs through Montana and into North Dakota ruptured beneath the Yellowstone, spilling 960 barrels of crude oil, or approximately 40,000 gallons into the river, Bridger said. Roughly an hour after the burst, the ...
... for two new domestic steel plants in Rabigh and Jubail that are being studied by its affiliate Saudi Iron and Steel Co (Hadeed), and are expected to cost $4.26 billion. The company has no plans to issue new bonds this year and is considering ...
Recycling TodayNucor Steel has filed a lawsuit seeking to halt construction of the Big River Steel (BRS) electric-arc-furnace steel mill, which is being built in Mississippi County, Arkansas, in the city of Osceola, which is also the site of the company's ...
In 2014 Ukraine decreased its coal output by 22%. According to the deputy minister for energy and coal industry Yuriy Zyukov, the country mined 65 million tons of coal, down by 22% YoY. Of 150 mines only 69 are working. Because of the coal shortage Ukraine plans to import 620 thousand tons from Russia, despite
1 BR share in a 3 BR apt. This means you will be getting your ... granite counter tops, stainless steel appliances, dishwasher, microwave, oven. The refrigerator is massive so if you love food no fear there is room for even those kidney beans.
A remarkable 4 BR & 4.5 Bath 5023 sq foot estate situated on almost 5 acres of land. 20 foot soaring ceilings, marble floors, granite countertops and stainless steel appliances highlight this spectacular retreat. Enjoy incredible sunsets from either of the ...
They held talks with residents and handed out questionnaires. State-owned steel producer Shougang Group said they only started building the Lujiashan incinerator, which opened in November, after a survey showed 92 per cent of respondents were in favour ...
The decline in prices is mainly due to slower demand growth for steel in China, together with the expected new iron ore supply, Vanessa Lau, a Hong Kong-based analyst at Sanford C. Bernstein Ltd., said before the figure was released. Steel mills in ...
Fujian & Guangdong, which altogether make up 90% of Chinese domestic iron ore supplies, SMM Metals boasts a comprehensive database, recording movements of domestic miners' operating rate and cost since 2009. Focused on China's non-ferrous base metal market ...
Egypt's economic felonies court has acquitted steel tycoon Ahmed Ezz and two of his associates of charges of engaging in monopolistic practices in the Egyptian steel market on Sunday. Ezz, who was formerly the secretary-general of Hosni Mubarak's ...
National Bank of Egypt (NBE) arranged a EGP1.7bn ($234.5mn) long term loan to restructure Ezz Steel's debts, a large steel producer, Ahram Online reported. NBE was the lead arranger and Arab African International Bank escrow agent. The purpose of the loan ...
They held talks with residents and handed out questionnaires. State-owned steel producer Shougang Group said they only started building the Lujiashan incinerator, which opened in November, after a survey showed 92 percent of respondents said they were in ...
In a bid to encourage Saudi Arabia-based Al Tuwairqi Holding, the Saudi government has committed to providing the company with cheaper gas. The move comes after the Pakistan government refused to provide gas at a discounted rate to Tuwairqi Steel.
SooToday.com - SooToday.comEssar Steel Algoma, and Sault Ste. Marie's economy, will directly benefit from the federal government's National Shipbuilding Procurement Strategy. Sault MP Bryan Hayes, at Essar Steel Algoma's office Friday, announced 1,500 tonnes of steel plate from ...
We don't want to hold much reserves now and are using up term contract supplies as well...metal prices are weak and cash flow is tight, a Henan smelter source said. Henan cash prices are expected to range between Yuan 2,600-2,650/mt in the near term ...
SANTA ROSALÍA, Mexico, 26 de enero de 2015 /PRNewswire/ -- Minera y Metalúrgica del Boleo (MMB) obtiene su primera producción de cobre en su proceso de molienda, lixiviación, extracción y electrodeposición dentro de su proyecto minero-metalúrgico...
the increase in administration expenses of the high-grade petroleum and gas transmission pipeline project under Hunan Shengli Xianggang Steel Pipe Co., Ltd.; and the loss experienced in the Group's metal commodity trading business. Its annual results ...
Among the actives, PetroChina gained 2.11 percent, while Baotou Steel spiked 9.96 percent, China Shipbuilding jumped 4.06 percent, China Eastern Airlines surged 5.1 percent, Air China climbed 3.9 percent, China Southern Airlines advanced 2.7 percent ...
Sable Mining aims to begin production from its Nimba iron ore mine in Guinea in the first half of next year after last week's deal to use infrastructure in neighbouring Liberia, the company's chairman said on Monday. Jim Cochrane said the AIM (SES: E1:A54.SI - news) -listed company, shares in which soared 156 percent after Friday's Liberia announcement, expects to conclude a financing ...
The largest percentage gainer on the Shanghai exchange was Fujian Torch Electron Technology ... in Shanghai were Bank Of China , down 1.24 percent at 4.78 yuan; Baotou Steel , up 9.96 percent at 5.08 yuan and China Shipbuilding , up 4.06 percent at ...
The largest percentage gainer on the Shanghai exchange was Fujian Torch Electron Technology ... down 1.24 percent at 4.78 yuan; Baotou Steel, up 9.96 percent at 5.08 yuan; and China Shipbuilding, up 4.06 percent at 9.22 yuan. In Shenzhen, Shenwan Hongyuan ...
LONDON (Scrap Register): The interminable slump in prices on the DCE iron ore futures continued on Friday, with the most active contract falling almost 2.5%, as per the Steel Index ... but billet prices in Tangshan rose 10/t. All prices $/dmt CFR China ...
Cliffs Natural Resources Inc., the largest U.S. producer of iron ore, will stop paying a dividend as it tries to cut its borrowings amid a slump in the price of the steel making raw material. The Cleveland-based company was previously paying ...
At the end of 2014, the mining industry had a combined market capitalization of under US$1,300 billion, compared with over US$1,343 billion at the end of November and more than US$2,000 billion back in February 2012.
Among the and ldquo;non-regulated and rdquo; sectors, coal cost relative to product price is the highest for the aluminium sector. Additionally, its margin also has the highest sensitivity to coal prices.
Unlike the 1957 Act, there would be no renewal of any mining concession. The tenure of the mineral concession have been increased from the existing 30 years to 50 years. Thereafter, the Mining Lease would be put up for auction.
Congo based Shenglong controls 90% of two Polymetalic exploitation permits under which rights are granted over much of Congo's metal mines. The exploitation permits are valid until 2036. The other 10% of the projects are owned by the Congolese Government.
The Indian cabinet’s approval of increased royalty rates on minerals including iron ore, copper and bauxite yesterday will raise costs for miners and metal producers, analysts and company officials said.
The Brazilian iron-ore producer will give workers at its Serra Azul unit in the Minas Gerais state a 30-day holiday, MMX said in a statement today. The furlough will begin during the first week of September.