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 firstname.lastname@example.org; Ichiro Suzuki in Tokyo at email@example.com
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.
Stocks finished mixed Thursday, with Dow Jones Industrial Average and the S&P; 500 posting small declines while the the Nasdaq Composite index rose, stopping just 12 points short of 5,000 for the first time since March 2000. Economic news
In trading on Thursday, shares of Alon USA Energy Inc (Symbol ALJ) crossed above their 200 day moving average of $14.01, changing hands as high as $14.06 per share. Alon USA Energy Inc shares are currently trading up about
Top Health Care Stocks JNJ +1.63% PZE 0.39% MRK +0.61% ABT +0.84% AMGN +0.58% Health care stocks were slightly higher today with the NYSE Health Care Sector Index adding about 0.1% and shares of health care companies in the
Top Tech Stocks MSFT +0.18% AAPL +1.17% IBM 1.17% CSCO +1.49% GOOG +2.24% Technology stocks were mostly higher this afternoon with shares of technology companies in the S&P; 500 climbing almost 0.7%. In company news, Xcerra ( XCRA )
Top Consumer Stocks WMT +0.14% MCD +1.91% DIS 0.99% CVS +0.73% KO +1.02% Consumer stocks were mixed this afternoon with shares of consumer staples companies in the S&P; 500 rising about 0.1%. Shares of consumer discretionary firms in the
Top Financial Stocks JPM +0.86% BAC 2.91% WFC 0.14% C +0.69% USB +0.21% Financial stocks were narrowly lower today with the NYSE Financial Sector Index slipping about 0.3% and the S&P; Financial 100 Index also falling about 03%. In
Top Energy Stocks XOM 1.14% CVX 1.25% COP 2.40% SLB 1.40% OXY 2.26% Energy stocks were broadly lower today with the NYSE Energy Sector Index sinking 1.9% while shares of energy companies in the S&P; 500 were down 1.7%
GoCs reversed lower after firmer than anticipated core CPI left a BoC rate cut increasingly unlikely next week. Elsewhere, European data was strong. And U.S. data kept a Fed mid year rate hike on the table. But crude oil
Autodesk ( ADSK ) is due with its Q4 results after the bell tonight, and analysts polled by Capital IQ are anticipating a profit of $0.24 per share on revenue of $650.5 million. ADSK is holding a widening pattern
The following are the biggest percentage decliners on the TSX Venture Exchange in mid afternoon trading with their price movements SACCHARUM ENERGY (SHM.V), $0.09, 0.08, 47.06% STRATA MINERALS (SMP.V), $0.06, 0.05, 45.45% AFRICAN METALS (AFR.V), $0.0650, 0.0450, 40.91% WI2WI
The following are the biggest percentage gainers on the TSX Venture Exchange in mid afternoon trading with their price movements HALMONT PROPERTIES (HMT.V), $0.42, +0.14, +50.00% WEALTH MINERALS (WML.V), $0.19, +0.05, +35.71% NATURALLY SPLENDID ENTERPRISES (NSP.V), $0.31, +0.08, +31.91%
Top Health Care Stocks JNJ +1.85% PZE 0.45% MRK +0.34% ABT +0.70% AMGN +0.37% Health care stocks were slightly higher, with the NYSE Health Care Sector Index adding about 0.1% and shares of health care companies in the S&P;
Top Tech Stocks MSFT 0.14% AAPL +1.55% IBM 1.01% CSCO +1.51% GOOG +1.54% Technology stocks were mostly higher this afternoon, with shares of technology companies in the S&P; 500 climbing almost 0.7%. In company news, Mind CTI Ltd (
The TSX continued its surge, as mining and info tech stocks maintained their momentum. The rally in CIBC (CM.TO) and TD Bank (TD.TO) on the heels of upbeat earnings also extended the advance in the financials group. The main
Top Consumer Stocks WMT +0.14% MCD +1.62% DIS 0.98% CVS +0.78% KO +0.84% Consumer stocks were mixed this afternoon with shares of consumer staples companies in the S&P; 500 rising less than 0.1%. Shares of consumer discretionary firms in
Takeover targets in the Mexican gold space are becoming thin on the ground after Timmins Gold (TSX: TMM) announced that it is acquiring Newstrike Capital (TSX-V: NES) in a transaction valued at $140 million.
Britain's coal-fired power generation last year fell to a five-year low, government data showed on Thursday, meaning it was likely that powerplant emissions of carbon dioxide (CO2) in the EU's second largest carbon polluter also fell. Coal-fired output fell by 23 percent to 94.9 terawatt-hours (TWh), its lowest level since 2009, provisional from the Department of Energy and Climate Change (DECC ...
KOLKATA / MUMBAI: The Railway budget offers a mixed bag for the struggling domestic steel industry. Cost of steel production will go up due to 0.8 per cent freight hike on iron ore and steel and a 6.3 per cent increase on coal movement. However, with ...
The company, which was founded 30 years ago, includes Cummins, BAE, TATA Steel and GE Aviation among its clients ... we can have a permanent display within the centre in Henan, from which we can reach a huge potential client base.'
A consortium of Henan Taihang Quanli Heavy Industry and Total Steel Nigeria recently renew efforts to restart the Ajaokuta Steel Plant. Last month the group visited the plant site, at Ajaokuta LG, Kogi state and some government officials in Abuja.
Powerful state companies are rapidly upgrading technologies to cut emissions. The Tangshan steel plant of Hebei Steel and Iron Group, a 72-year-old state firm, has set up one of the largest sewage treatment facilities in north China and stopped using ...
Mideast TimeSteel Dynamics logo Shares of Steel Dynamics (NASDAQ:STLD) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totalling 4,093,297 shares, a growth of 54.5% from the January 30th total of ...
GRAPHIC: Chinese, Russian steelmakers soar: http://link.reuters.com/kuk24w By Manolo Serapio Jr SINGAPORE, Feb 27 (Reuters) - Shares (Frankfurt: DI6.F - news) in China's steelmarkers outshone long-time international rivals in 2014 as Chinese mills overwhelmed buyers with cheap prices. Shares of Hebei Iron and Steel, the listed unit of top Chinese producer Hebei Steel Group, soared more than 90 ...
The resuscitation of the Redcliff based Zimbabwe Iron and Steel Corporation, now renamed New Zim Steel, is still unclear as the agreement between the government and India's ESSAR Group had to be renegotiated and is yet to be signed. Ms Chiratidzo Mabuwa ...
The government also confirmed the extension of duties on graphite electrodes from China, used to cut scrap iron and steel. Award-winning and trusted the world over, Business News Americas is the only English and Spanish business intelligence resource for project , news , analysis and business contacts focused on and produced in Latin America.
Land at Sheerness steel mill is being filled with vehicles from the neighbouring ... and Thamesteel's owners, Al Tuwairqi Holding Company. Peel Ports, which imports cars from the docks, belongs to the same group as Peel Land. A spokesman for Peel Land ...
Stafford DailySteel Dynamics, Inc. (NASDAQ:STLD): The mean short term price target for Steel Dynamics, Inc. (NASDAQ:STLD) has been established at $25.14 per share. The higher price target estimate is at $29 and the lower price target estimate is expected at $20 ...
Indian stocks dropped the most in two weeks as metals and cement producers retreated after the government raised freight costs in its annual railway budget. Hindalco Industries Ltd. and Steel Authority of India Ltd. fell at least 2.5 percent, sending a gauge of metalmakers to a two-week low.
Home News Steel OCTG sales tags, mart sentiment slide further. OCTG sales tags, mart sentiment slide further. Feb 26, 2015 03:06 PM Thorsten Schier. To access AMM's full content, please log in below. If you do not have an AMM account, we invite you ...
Intelligent Investor - Morningstar.comWith U.S. GDP, construction spending, and industrial activity all on the upswing, one might surmise that 2015 is shaping up to be a banner year for the steel sector. But with weak crude prices undercutting demand from the energy sector and a wave of ...
A 1.4 km-long jetty integrated with the Vale Oman complex allows for giant Valemax ships of 400,000 DWT capacity to call directly at Sohar Port to unload their cargoes of iron ore shipped in from Brazil. Smaller vessels then ferry shipments of direct ...
sleekmoneyReceive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with Analyst Ratings Network's FREE daily email ...
PORTLAND, Ore. (KOIN 6) - Homicide detectives responded to an area south of the Steel Bridge after the body of a woman was found Thursday afternoon. The woman, whose identity has not yet been determined, was found around 3:30 p.m, officials said in a ...
African Minerals said on Friday its Chinese partner in the Tonkolili iron ore project in Sierra Leone, has taken on some of its multi-million dollar debt and is demanding repayment. A group of banks including Standard Chartered (HKSE: 2888.HK - news) and Citi, which had lent African Minerals $250 million as pre-export finance (PXF), have transferred their interest to Shandong Steel Hong Kong ...
Dynegy Inc. reported 2014 consolidated Adjusted EBITDA of $347 million, compared to $227 million for 2013. The $120 million increase in Adjusted EBITDA was primarily due to the December 2, 2013 addition of Illinois Power Holdings , improved realized power prices in the Coal segment and improved spark spreads and generation volumes in the Gas segment.
Rio Tinto is poised to cut several hundred jobs from its iron ore division in Western Australia, weeks after iron ore boss Andrew Harding sent a memo to staff warning of a "degree of urgency" to quickly achieve deep cost cuts and maintain its mantle as the worlds lowest-cost exporter to China.
In 2014 Ukraine imported 1.14 million tons of rolled metal as opposed to 1.69 million tons in 2013 (68%). The largest share in Ukrainian imports was flat rolled metal with cover (41% of the total imports volume). The total volume of imported metal wares reached 1.4 million tons worth $1.3 billion as opposed to 2.2
The MIIT recently announced plans to further integrate all rare earth mines and separation enterprises in the country with the focus on six leading groups including Aluminum Corp of China, Xiamen Tungsten Co Ltd and Baotou Iron & Steel Group Co Ltd. The ...
Luxembourg, 24 February 2015 - ArcelorMittal has today filed its Annual Report 2014 on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report is now available on ArcelorMittals website ...
Since the establishment in 1951 of the Coal and Steel Community, the precursor of the European Union, advocates of transnational unity have demanded closer cooperation on energy. The European Commission, the EU executive, says the clash with Russia over its seizure of Ukraine's Crimea region means there is the strongest case yet to pool resources across the EU, which relies on Moscow for around ...
US coal miners and traders may end up benefiting from expansions in Turkey's steel industry, as coking coal users now confined to Erdemir Group and Kardemir would swell over the next few years based on company plans. Istanbul-based longs steelmaker Icdas ...
Glencore Plc said on Friday it planned to cut coal exports from its Australian mines by about 15 percent in 2015 to ensure the mines remain profitable as coal prices languish near 5-1/2 year lows. "We will continue to review all our coal operations in the prevailing economic climate," the company said in an emailed statement. Glencore's Australian coal mines, some of which are co-owned with ...
The enterprises were mainly coking and steel plants. Meanwhile ... The ministry also suspended an aluminum project in the city of Sanmenxia in central Henan Province and fined the company 100,000 yuan for its illegal sulfur dioxide discharge.
Government has renegotiated the Essar deal on NewZim Steel and the investment has now risen to $1 billion ... hands between the two parties as negotiations on the purchase of Zisco assets were expected after the closure of the transaction.
Shares (Frankfurt: DI6.F - news) in Brazil's Vale SA plunged 5 percent on Thursday as the miner posted full-year net income well below analyst forecasts due to a weaker iron ore price and Brazilian currency. The halving of iron ore prices has hit the world's largest producer of the steelmaking ingredient as increased output from Australia coincided with slower growth in China, the largest market ...
Mining and commodities giant Glencore Xstrata Friday said it was reducing its coal production in Australia by 15 million tonnes amid weak global demand and oversupply. It is understood that up to 120 jobs at Glencore's 13 Australian mines could be affected as a result of the cuts, which will include scaling back some operations and deferring projects. We plan to reduce 2015 production by 15 ...
Daily News Egypt reported that the Supreme Electoral Commission found controversial steel tycoon Mr Ahmed Ezz's application to run in the 2015 parliament incomplete regarding financial documents on Sunday morning. The SEC therefore refused the application ...
Similar arrangements are in place in Tianjin, Fujian and Guangdong FTZs. But the impacts of financial market changes cannot be confined to small geographic areas. As such, they will likely affect the capital controls in China as a whole. In fact ...
RIO DE JANEIROBrazilian mining giant Vale SA reported a net loss in the fourth quarter as iron-ore prices fell by nearly half, the local currency weakened and impairment charges continued to pile up. Vale, the world's largest iron-ore producer ...
Even the most hardened optimist will find it difficult to visualise India, which managed to raise crude steel production by only 2.3 per cent to 83.2 million tonnes (mt) last year, lifting steel capacity to 300 mt by 2025. Local steel demand is hardly growing and steel product prices are leaving little margin for producers.
Freight charges on grains and amp; pulses, Coal, Iron and amp;Steel and Urea are set to increase. The hike in Fare is by 6.3 per cent for Coal, 10 per cent for Urea, 0.8 per cent for Iron and amp; Steel, 10 per cent for grains and amp; pulses and 2.7 per cent for cement.
Vineet Agarwal, Managing Director, Transport Corporation of India Ltd, the Rs 2500 cr integrated supply chain and logistics solution providers in the country, said that the prime focus should be on making the sector competitive.The industry needs a separate ombudsman on the line of TRAI (Telecom Regulatory Authority of India) and an integrated policy for the logistics sector.
China and rsquo;s crude steel production for January 2015 was 65.5 Mt, a decrease of -4.7% compared to January 2014. The crude steel capacity utilisation ratio for the 65 countries in January 2015 was 72.5%.
In the unregulated sector, steel and aluminium makers that win coal blocks will have a better handle on profitability than cement producers because coal accounts for a third of their production cost compared with 10-15 per cent for the latter.
Even as the GDP data for 2014-15 painted a rosy picture of the economy growing at 7.4% and expected to cross $2.1 trillion mark as against 6.9% in 2013-14 the fall in corporate profitability and rising debt across industries have put severe strain on the banking sector.
Mining Indaba is an annual global event on mining in South Africa with 10,000 delegates participating from across the globe. India wants to highlight the recent amendments in the Indian mining regulations and project investment opportunities for foreign companies in Indian mineral sector.
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.
Western markets have remained quiet as the Chinese New Year and Lantern Festival are still becalming markets with many Asian traders on holiday. Many Chinese companies will remain closed until after the Lantern Festival.
Elsewhere, Imports of steel into the US surged 16.8pc in January compared with the month prior to 4.25mn t, according to latest figures from the American Iron and Steel Institute (AISI). The total also included 3.42mn t of finished steel, which was up 15.9pc on December’s total. Finished steel import market share was an estimated 32pc in January. The figures underline the growing concerns in the ...
China's minor metal markets were lacklustre in the first week after the New Year break with prices unchanged as the majority of market players have not returned to work.
The holiday atmosphere will wane next week after the end of the Lantern Festival (5 March), and trade is likely to return to normal.