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.
Fueled by strong first quarter earnings from Microsoft ( MSFT ), Amazon ( AMZN ), Google (GOOGL, GOOG) and Starbucks ( SBUX ), the Nasdaq Composite raced to a new 15 year high, closing out a strong week with
Canadian stocks closed up 16 points on Friday at near the 15,410 level, but still 30 points shy of early session highs. Gains for financial and healthcare stocks like Valeant (VRX.TO) outplayed losses for Energy stocks amid lower oil
Top Health Care Stocks JNJ +0.60% PZE 2.31% MRK +0.18% ABT 0.27% AMGN 0.64% Health care stocks were mixed late Friday. In company news, Celgene ( CELG ) Friday reported it entered into a strategic collaboration with AstraZeneca (
Top Tech Stocks MSFT +10.6% AAPL +0.34% IBM 0.09% CSCO +0.33% GOOG +3.36% Technology stocks were broadly higher late in Friday's session. In company news, Unisys ( UIS ) tumbled in Friday afternoon trade after the company said Q1
Top Consumer Stocks WMT +1.01% MCD +1.66% DIS +0.44% CVS +0.77% KO 0.27% Consumer stocks were generally higher in late afternoon trade with shares of consumer staples companies ( IXR) in the S&P; 500 climbing about 0.02% while shares
Top Financial Stocks JPM 0.40% BAC 0.32% WFC 0.32% C 0.60% USB 0.30% Financial stocks were lower Friday with the NYSE Financial Sector Index ( NYK) rising about 0.03%. In financial company news, State Street ( STT ), a
Apple ( AAPL ) is about evenly mixed in its post earnings share performance over the last 12 years of data we've tracked in our MT Pro database, narrowing or reversing an earnings driven after hours gain or decline
GoCs rallied and the curve flattened after the U.S. durable goods report revealed slippage in key components, further dimming the profile of Q1 GDP growth ahead of next week's FOMC announcement. Wall Street continued to grind higher, helped by
Top Energy Stocks XOM 0.77% CVX 0.24% COP 1.32% SLB 1.62% OXY 0.60% Energy stocks were mostly lower late in Friday's session with crude oil for June delivery settling down 1% at $57.15 per barrel, but up 2.5% for
The following are the biggest percentage decliners on the TSX Venture Exchange in mid afternoon trading with their price movements EYELOGIC SYSTEMS (EYE A.V), $0.06, 0.06, 50.00% FTI FOODTECH INTERNATIONAL (FTI.V), $0.10, 0.04, 31.03% ONENERGY (OEG.V), $0.08, 0.04, 30.43%
The following are the biggest percentage gainers on the TSX Venture Exchange in mid afternoon trading with their price movements NOBEL REAL ESTATE INVESTMENT TRUST (NEL UN.V), $1, +0.35, +53.85% ENTOURAGE METALS (EMT.V), $0.1750, +0.04, +29.63% SABER CAPITAL (SAB
The TSX was a little changed in the mid afternoon session, up by less than a point at 15,393.08, with the materials group extending its rally, offsetting losses in info tech shares. The materials sector was up 3.73%, following
Top Health Care Stocks JNJ +0.93% PZE 0.13% MRK 0.10% ABT +0.52% AMGN 0.61% Health care stocks were mixed Friday, with the NYSE Health Care Sector Index ahead about 0.1% and shares of health care companies in the S&P;
Top Tech Stocks MSFT +9.53% AAPL +0.03% IBM 0.51% CSCO +0.33% GOOG +3.69% Technology stocks were broadly higher, with shares of technology companies in the S&P; 500 climbing almost 0.8%. In company news, Gigamon ( GIMO ) rallied to
Top Consumer Stocks WMT +0.86% MCD +1.91% DIS +0.71% CVS +0.92% KO +0.04% Consumer stocks were higher in afternoon trade, with shares of consumer staples companies in the S&P; 500 climbing about 0.2% while shares of consumer discretionary firms
Iran produced 4.089 million tons of crude steel in the first quarter of 2015, a 9.6 percent rise from 3.729 million tons in the first quarter of 2014, the World Steel Association said in its latest report. The country's crude steel output stood at 1 ...
Hebei's steel mills have to comply with tough state pollution standards ... is also likely to boost firms making equipment to treat industrial emissions, including Fujian Longking and Wuhan Kaidi Electric Power. Soil treatment firms like Dongjiang ...
The deal comes at a time when depressed prices for iron ore and other commodities are weighing on ... one of the world's top steel companies and a partner of Vale in Companhia Siderurgica do Pecem, a major steelmaking project in northeast Brazil.
Iron ore prices have slumped by more than half in the past year ... That beat the 62.8 million tons median estimate of three analysts surveyed by Bloomberg. Output from Samarco in Brazil jumped 57 percent to 3.6 million tons in quarter, BHP said.
In odourless rooms overlooking each pit, workers use joysticks to manipulate gigantic German-made steel claws a bit like the ones in ... An explosion at one such plant in Fujian province earlier this month reinforced distrust of such facilities, despite ...
Cities closer to Beijing, including the major steel-producing city of Tangshan, faced an even higher target of 33 percent. Hebei has promised to cut coal consumption by 40 million tonnes over the 2014-2017 period and steel capacity by 60 million tonnes.
ReutersApril 24 (Reuters) - ThyssenKrupp. * CEO says expects stable growth rate in North America, after 8 percent last year. * CEO says too early to talk about disposal of Brazilian steel business. * ThyssenKrupp says could handle a large acquisition today ...
International Business Times - t in recent days to workers producing pipe and tube products that are used in the oil and gas sector.Industry Week: The Trans-Pacific Partnership Won't Help US ManufacturersAmericanEconomicAlert.orgTrade deal won't help Nebraska manufacturersKearney Huball 1,507 news articles'
Severstal reports Q1 2015 financial results - Significant margins despite challenging marketconditions - Moscow, Russia - April 23, 2015 - PAO Severstal (MICEX-RTS:CHMF; LSE: SVST), one of the world's leading steel and steel-related miningcompanies, today announces its Q1 2015 financial results for the period ended31 March 2015.CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER
Vale's iron ore output excluding its share in the Samarco Mineracao venture and third-party purchases rose to 74.5 million metric tons in the first quarter, from 71.1 million tons a year ago, the company said. That missed the 78.7 million-ton average of ...
ArcelorMittal: New environment protection technology at the Steel Melting Shop. A sludge drying and retention station at the Steel Melting Shop, aimed at protecting the environment, reducing the consumption of raw materials and water was commissioned ...
An official who wouldn't be identified in the investor relations department of China Erzhong, a government-owned maker of equipment used in steel manufacturing, wouldn't comment on the phone. Two calls to Henan Yinge weren't answered. The yield ...
The Moscow Times - Reuters UKSeverstal, Russia's second largest steel producer, and other exporters have benefited from a 50-percent decline in the rouble against the dollar since mid-2014, as their costs fell in dollar terms. Severstal said its margin on earnings before interest ...
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 19 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the ...
Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March. What is still not receiving enough attention, however, is that global steel production outside of China continues to fare very poorly ...
A significant split occurred between Australia's iron ore giants this week when BHP Billiton said publicly that it was slowing down its expansion. It was only two sentences in a quarterly report, but was a major break from BHP and Rio Tinto's controversial narrative of unrelenting growth no matter the effect on prices - as long as you are making money. Highlighting how far iron ore prices have ...
However, steel companies like US Steel (X) and ArcelorMittal (MT) have a reason to be happy about Chinas (FXI) March trade data. US Steel and Carpenter Technology (CRS) each form 3.25% of the SPDR S&P; Metals and Mining ETF (XME). Exports decline The ...
Sydney (AFP) - Mining giant BHP Billiton on Wednesday said total iron ore production for the nine months to March jumped to a new high as prices remained near a decade-low, but deferred a project to boost output of the commodity to save costs.
The major players of this product segment are Sabic Hadeed, Al-Rajhi Steel and Tuwairqi Steel etc. My personal estimate of Saudi re-bars and wire rod market size is 10 million tons, structural steel (beams etc.) is 1.0 million tons, flat steel (sheets ...
Vale's (VALE) own iron ore production, excluding iron ore acquired from third parties and Samarco's attributable production, hit record levels for a first quarter, coming in at 74.5 million tons. That's 8.5 million tons less than in the previous ...
Steelmakers and media-related stocks were among top gainers; Baotou Steel and Shanghai Oriental Pearl Group elevated 2.8 and 10 percent each. Equity markets in the world's second-biggest economy has soared about 80 percent over the past six months ...
Tata Steel gains 5 pct, on track for the highest close since Feb 20 ** Steel Authority of India Ltd (SAIL) gains 2.6 pct and JSW Steel 2.3 pct and Jindal Steel and Power 1.7 pct ** The sector's return on equity to double by FY17 end- Bank of America ...
In Shanghai, Baotou Steel finished 2.97% higher and Shanghai Oriental Pearl Group surged 10%. In Hong Kong, casino operator Sands China finished 2.61% lower. In Mumbai, Cairn India was trading 1.76% lower at 1.58pm local time. Analysts expect the oil and ...
It was the week that challenged the conventional wisdom around the iron ore price collapse, and offered a glimmer of hope to small, struggling miners. A surprise fall in exports, a slowing of investment in new growth, and a spurt in the commodity price ...
and an increased part of it is demanding for high added value flat steel for cladding, roofing, framing and interior applications. For the first time in 2015, ArcelorMittal will exhibit at Turkeybuild. In hall 2, on stand #124, visitors will be given the ...
Besides MCC, exhibitors included such domestic and overseas enterprises from the metallurgical and associated industries as CITIC Pacific, Paul Wurth, Primetals, Shougang Group ... Works', 'Green Iron and Steel', 'Intelligent Iron and Steel', 'Equipment ...
The most polluted provinces were Henan, Hubei and Hebei. Beijing was the fourth-most ... The three most polluted cities were Baoding, a steel town in Hebei; Kashgar, a traditional Silk Road oasis town in the far western region of Xinjiang; and Xingtai ...
On April 10th, MCC19 signed the 2015 Panzhihua Steel Xichang Cold-Rolled and Heat-Rolled Area Yield Guarantee and Machine Maintenance Services contract with Panzhihua Steel (Group) Engineering Technology Co., Ltd. The site is located at Panzhihua Steel ...
The world's largest iron-ore producer, Vale churned out 77.4 million metric tons of the steelmaking material, up 4.5% from a year earlier. The figure includes 2.9 million tons of ore that Vale bought from third parties. Vale's iron-ore output was aided ...
Ezz Steel, the largest steel producer in the local market, will increase its holdings in its flat-steel subsidiary by nine per cent to 73 per cent by converting $255 million of loans that the latter owe it into equity. No cash will exit Ezz Steel.
During the report period, Vale produced 74.5 million tonnes of iron ore - excluding iron ore acquired from third parties and Samarco's attributable production - achieving the best performance for a first quarter. Production of nickel reached 69,200 ...
China and rsquo;s crude steel production for March 2015 was 69.5 Mt, a -1.2% decrease compared to March 2014. In the first three months of 2015, Asia produced 272.0 Mt of crude steel, a decrease of -1.1% over the first quarter of 2014.
ABN AMRO says India and other countries can benefit as China and rsquo;s rebalancing and reform strategy will impart positive and negative effects on the country and rsquo;s total commodity imports and its composition.
India and rsquo;s steel industry is reeling under severe pressure, on account of sluggish economic recovery and various factors impacting external and internal environment like higher prices of iron ore due to its shortage in the country owing to Supreme Court and rsquo;s intervention.
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.
Chinese ferro-molybdenum and manganese flake prices continued to fall on account of sluggish buying from steelmakers in the past week, while other ferro-alloys prices were steady, underpinned by higher production costs.
China will remove export duties on ferro-tungsten, ferro-molybdenum and vanadium pentoxide and a group of products that ...
[This article updates the report from 23 April 2015 with the full list of commodities.]
The Chinese government has announced that export duties on more than 100 commodities will be officially removed ...
Bismuth and cobalt have continued their uptrend in the past week as lacklustre demand has been offset by reduced supplies. while other metals have shown no signs of life and are lingering at multi-year low levels.
The Chinese government has announced that export duties on a total of 94 commodities will be removed on 1 May. This includes export duties on more than 80 types of metal and metallic compound products, including rare ...