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.
Amid a series of light volume sessions, the PHLX Oil Service Sector Index (OSX) rebounded off key trend line support at 281.92 and resumed its upward trend. An upward revision to Q2 GDP to 4.2% from 4.0%, supported by a rise in personal consumption, a jump in exports and an increase in private inventory investment
Stocks closed marginally higher on Friday with mixed data on consumer spending and sentiment helping offset rising geopolitical risks from Russian aggression in Ukraine and possible U.S. military action in Syria. While the long holiday weekend resulted in very
Canada's main stock market, the Toronto Stock Exchange, hit a new intra day record high of 15,632.58 Friday afternoon before closing off that but still up near 70 points at 15625.73. It was boosted by news that economic growth
In trading on Friday, shares of UIL Holding Corp (Symbol UIL) crossed above their 200 day moving average of $37.12, changing hands as high as $37.30 per share. UIL Holding Corp shares are currently trading up about 1.1% on
Stocks ended little changed to just slightly higher on Friday after positive data on consumer spending and sentiment was offset by rising geopolitical risks and providing little motivation for Wall Street ahead of a long holiday weekend. The S&P;
Technology stocks were ending moderately higher with shares of technology companies in the S&P; 500 advancing about 0.4%. In company news, UBIC ( UBIC ) shares tumbled Friday, sliding over 9% after the company late Thursday announced plans to
Energy stocks were widely mixed Friday with the NYSE Energy Sector Index continuing its wide swings, today sinking over 3.5% while shares of energy companies in the S&P; 500 were up about 0.5% as a group. In company news,
In trading on Friday, shares of Murphy Oil Corp (Symbol MUR) crossed above their 200 day moving average of $62.31, changing hands as high as $62.47 per share. Murphy Oil Corp shares are currently trading up about 2% on
Top Tech Stocks MSFT +0.98% AAPL +0.12% IBM +0.11% CSCO +0.46% GOOG +0.25% Technology stocks were ending moderately higher with shares of technology companies in the S&P; 500 advancing about 0.4%. In company news, UBIC ( UBIC ) shares
Healthcare stocks were higher Friday afternoon with the NYSE Healthcare Sector Index advancing about 0.3% and shares of healthcare companies in the S&P; 500 climbing about 0.4% as a group. In company news, United Therapeutics ( UTHR ) soared
Top Healthcare Stocks JNJ +0.73% PFE +0.09% ABT 0.26% MRK +0.13% AMGN +0.44% Healthcare stocks were higher Friday afternoon with the NYSE Healthcare Sector Index advancing about 0.3% and shares of healthcare companies in the S&P; 500 climbing about
Top Energy Stocks XOM 0.23% CVX +0.45% COP +0.61% SLB 0.11% OXY 0.26% Energy stocks were widely mixed Friday with the NYSE Energy Sector Index continuing its wide swings, today sinking over 3.5% while shares of energy companies in
Top Financial Stocks JPM +0.24% BAC +0.19% WFC +0.33% C +0.35% USB +0.29% Financial stocks were mostly higher in late trade Friday with the NYSE Financial Sector Index rising about 0.3% and the S&P; Financial 100 Index up almost
Financial stocks were mostly higher in late trade Friday with the NYSE Financial Sector Index rising about 0.3% and the S&P; Financial 100 Index up almost 0.4%. In company news, Net 1 Ueps Technologies Inc. ( UEPS ) shares
Top Consumer Stocks WMT 0.44% MCD 0.61% DIS 0.59% CVS 0.08% KO 0.00% Consumer stocks turned slightly lower this afternoon with shares of consumer staples companies in the S&P; 500 off less than 0.1% in late trade. Shares of
The Australian Financial Review - LONDON — Iron-ore prices will fall further because there's too much supply of the main ingredient for steel, the head of Austria's largest steelmaker said, deepening a slump that's curbed profits at world's biggest miners. "We still have enormous ...
United States Steel (X) has done well this year. The steelmaker's shares have picked up and outpaced peers like ArcelorMittal (MT), which is down in 2014. U.S. Steel is profiting from an increase in steel requests, as a result of which it conveyed a ...
Zacks currently has a $41.00 price objective on the stock. A number of other analysts have also recently weighed in on X. Analysts at Compass Point reiterated an outperform rating on shares of United States Steel in a research note on Monday, August 25th.Reliance Steel & Aluminum Given Consensus Rating of "Hold" by Brokerages ...
Director Deals - Glencore Xstrata (GLEN). 28 August 2014 | 09:00am. StockMarketWire.com - Patrice Merrin, Non Executive Director, bought 40,000 shares in the company on the 26th August 2014 at a price of 361.04p. The Director now holds 40,000 shares ...
ThyssenKrupp will realize additional savings and income through the sale of corporate assets, including its remaining shipyards and the high-grade-steel plant in the Italian city of Terni, as well as VDM in Germany. At both plants, ThyssenKrupp has ...
Reuters UK - The coking plant and blast furnace of ThyssenKrupp Steel Europe AG are seen in Duisburg in this January 14, 2014 file picture.s. Credit: Reuters/Ina Fassbender/Files. Related Topics. Business ». BERLIN (Reuters) - Germany's manufacturing sector ...
The steel giant Nucor Corp., headquartered in Charlotte, North Carolina, has reportedly sued to halt construction of Big River Steel LLC's minimill, which is slated to be built near Osceola, Arkansas. According to a report in Bloomberg, Nucor's suit ...
thepaper24-7.com - Artis Hailey, unlike Brian Cooper, is a newcomer to Nucor Steel. He drives from Avon every day and loves being a part of Nucor, he said. "People here are the nicest," he said. Hailey graduated May 12, 2013, from Butler and Indiana University and ...
(Source: TodayIRcom) Press Release of Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited (01938.HK) (August 29, 2014 - Hong Kong) Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited (the Company, together with its subsidiaries hereinafter referred to as the Group or Chu Kong Steel Pipe, stock code: 1938), the largest manufacturer and exporter of large longitudinal welded steel pipes in China, is pleased to announce the unaudited interim results of the Group for the six months ended 30 June 2014. For the six months ended 30 June 2014, the Group recorded a turnover of approximately RMB1,484.0 million,...
NMDC last month raised its stake in its Australian subsidiary Legacy Iron Ore Ltd to 78.56 per cent from 48.82 per cent at a cost of A$12.3 million (about 69 crore). It acquired additional shares through exercise of its entitlement (in a right issue ...
For a commodity meant to symbolise strength, iron ore is looking ever weaker. On Monday the Australian benchmark price of the steelmaking ingredient sank to $87.10 a tonne, taking the year-to-date fall to 35 per cent. The price is now just 40 cents ...
Jakarta. State-controlled steel maker Krakatau Steel is targeting a 127 percent increase in steel production to 7.15 million metric tons by 2018, its chief said on Sunday. Krakatau president director Irfan Kamal Hakim said the company's move to boost ...
NEW DELHI: Buoyed by an increased demand from automobile and consumer durables sectors, flat steel makers have raised the price by up to Rs 500 a tonne to offset rising input costs, industry sources said. "The hike by up to Rs 500 per tonne has been ...
IF you borrowed heavily to buy your home at the height of the property boom you can empathise a bit with the current woes of Tata Steel Europe. The scale may be different Tata revealed an eye watering 1.2bn annual loss in its European steel ...
TATA Steel bosses are seeking an eight-year stay of execution to cut emissions from the coke ovens on the Scunthorpe site as they fear the costs would far outweigh the environmental benefits. The company, which employs 4,000 people in the town, has ...
Must-know: Why steel investors are celebrating (Part 5 of 5) (Continued from Part 4) Rating upgrade for ArcelorMittal On August 26, 2014, UBS upgraded ArcelorMittal (MT) to buy with a price target of $19. This is two notches above the current sell rating ...
Friday newspaper round-up: AA, Iron ore prices, Ocado... Shareholder groups last night warned of a corporate governance breakdown at the AA after chief executive Chris Jansen resigned two months after its stock market float.
* Australia's Atlas Iron turns a profit amid weak ore prices * Sells iron ore for average $98.10/t vs $104.90/t yr ago (Adds production, cost, financial data, iron ore price) SYDNEY, Aug 28 (Reuters) - Atlas Iron posted a A$14 million ($13 million) net profit versus a $245 million loss a year ago as sharply higher production offset weaker iron ore prices, enabling it to pay a dividend. "Our ...
MELBOURNE/SINGAPORE (Reuters) - Adani Enterprises has agreed to pay A$155 million ($145 million) to Linc Energy (LINC.SI) to buy out the Australian firm's rights to future royalties from Adani's huge but delayed Carmichael coal project, already four years behind schedule. The deal comes amid growing questions on whether Adani will eventually go ahead with a project to build what would become ...
Half of India's thermal power stations have less than a week's supply of coal on hand, according to weekly data, the lowest level since mid-2012 when hundreds of millions of people were cut off in one of the world's worst blackouts. There was a sharp fall in power output on Thursday from a plant in Gujarat that left India more than 9,000 megawatts short of peak demand, according to two officials ...
NEW DELHI (Reuters) - India's annual infrastructure output growth slowed to a three-month low of 2.7 percent in July, government data showed on Monday, dragged down by a contraction in production of natural ...
Reuters Market Eye - Tata Steel(TISC.NS) gains 2 percent, recovering after a 4.8 percent fall on Monday. Analysts say won't be impacted by the Supreme Court deeming coal allocations since 1993 as illegal. ...
By Abhishek Vishnoi MUMBAI (Reuters) - The Nifty edged lower for a second consecutive session on Tuesday as firms including Jindal Steel and Power extended their slump after a Supreme Court ruling on coal ...
A cancellation of all coal mining licences awarded in India since 1993 could cost Asia's third largest economy $3bn in additional imports and hurt firms that have lent to the sector, according to two brokerage firms. India's top court has held as illegal coal mining licences awarded to various firms between 1993 and 2009 and will examine whether to cancel some or all licences. Macquarie Research ...
Polish manufacturing activity shrank for a second straight month in August and Czech expansion slowed more than expected, adding to signs weaker euro zone economies and crisis in Ukraine are cooling growth in the EU's east. Economies in central Europe have rebounded strongly from a sharp slowdown or even contraction in the past year but are starting to slow, and analysts expect that to continue ...
* Evraz H1 net profit misses forecast, sales down 7 pct * Evraz (LSE: EVR.L - news) says H1 EBITDA up 17 pct, beats forecast * Says Ukraine generates 6 pct of group revenue (Adds details, quotes, context) MOSCOW, Aug 27 (Reuters) - Russia's largest steelmaker Evraz returned to net profit in the first half of 2014 and said its assets in Ukraine remained unaffected by unrest in the country for now.
Russia's largest steelmaker Evraz said on Wednesday it swung to a first-half net profit of $1 million after a year ago loss of $146 million due to asset optimisation and cost efficiency gains, but missed ...
The Indian Rupee traded on a flat note and appreciated marginally around 0.1 percent in yesterday and rsquo;s trading session. The currency appreciated on the back of optimistic economic growth data of the country which came last week thereby leading to signs of progress in Indian economy.
The royalty rate of Iron ore and bauxite would see a surge of 15 per cent against the earlier 10 per cent. Manganese ore would attract a royalty equivalent to five per cent from 4.2 per cent of the notified sales price.
China and rsquo;s crude steel production for July 2014 was 68.3 Mt, up by 1.5% compared to July 2013. Elsewhere in Asia, Japan produced 9.3 Mt of crude steel in July 2014, the same level of production as in July 2013. South Korea produced 5.9 Mt of crude steel in July 2014, up by 6.2% on July 2013.
In a written reply in the Lok Sabha, Mr Vishnu Deo Sai has said that as Iron and Steel is a deregulated sector, imports of the same may be undertaken by the individual companies based on their requirements.
Given the Q1 IIP growth and assuming that the construction sector grew at the same rate as in FY14, industrial GDP is likely to have grown around 3.3% in Q1FY15, (compared to 0.2% fall in Q4FY14 and 0.4% fall in Q1FY14).
The Minister admitted that the expectations from the MMDR Act and the National Mineral Policy (NMP) had not been realized. The problems faced by the sector had prevented the inflow of foreign direct investment into this sector.
LME Zinc prices slips below $2300 a ton as investors from globe book profit after prices reached to multi week highs in recent days. The trend in Zinc August delivery on MCX looks bearish for the day. Intra-day traders are advised to stay on selling side.
A month ago the US Department of Commerce determined that Indian steel threaded rod was being dumped in the country and sought imposition of anti-dumping duty against it. As a result of the USITC's negative determinations, no anti-dumping and countervailing duty orders will be issued.
Sales volumes for hot rolled coil have slowed down in India and rsquo;s northern and central states, MEPS says. Stockists operating in these regions have begun to offer additional discounts to facilitate deals.
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.
Indonesia’s ban on nickel ore exports is resonating globally as prices climb to the highest since 2012, prompting companies from Avebury Nickel Mines Ltd. to Poseidon Nickel Ltd. to restart operations at idled mines.