The latest news from around the world on the markets, sectors and companies Casey Research specializes in. Click any headline to read the full article.
Rare Earths Are Becoming a Lot More Rare August 17, 2010
Interest in rare earths is starting to heat up in a dramatic fashion and it is something you should keep on your radar. So named because they were hard to get in the 18th and 19th century, these once obscure elements have become the focus of several converging trends in the global economy, as they are the key ingredient of magnets. There are 17 in all, divided into light (cerium, Ce; lanthanum, La, and neodymium, Nd) and heavy (dysprosium, Dy; terbium, Tb, and europium, Eu).
China Becomes Largest Global Energy Consumer August 17, 2010
Since the early 1900’s the U.S. has been the world’s largest energy consumer and the world’s largest auto manufacturer. It took a century to accomplish, but last year China knocked the U.S. from its perch as the world's largest auto market. Last month the International Energy Agency claimed China’s total energy usage exceeded the U.S. for the first time last year – making China the world’s largest energy consumer.
Potash Rejects $39 Billion Bid From BHP Billiton August 17, 2010
Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, rejected an unsolicited $39 billion takeover proposal from BHP Billiton Ltd. as too low, prompting speculation of a higher bid.
BlueScope: demand weak, even as profits jump August 16, 2010
Australia's biggest steel maker said while it has short-term concerns about demand and a stronger Australian dollar, it is planning for significantly improved market conditions in the medium to long term.
The Expendables? Beware the Sequel August 16, 2010
China overtook Japan for the title of "world’s No. 2 economy." Following thirty years of relentless hard work and unwavering determination, the country can now boast that it is, in fact, on course to capture the top global economic spot as well – in about another two decades – and wrest it away from the United States...
Gold and Goldman Sachs August 13, 2010
Is Goldman Sachs suggesting $1,300 gold within six months a cue for further growth in price or a contrarian indicator that the top may have been reached?
Bolivian govt trying to defuse silver mine protest August 13, 2010
The strikes, which have been going on for more than two weeks in the mineral-rich Potosi region, have disrupted production at three mines including two of the world's biggest silver deposits.
Canada's north adds mining production, exploration August 13, 2010
The Conference Board of Canada has found a turnaround in the U.S. and global economic growth has reignited interest in diamonds, precious metals and other hardrock mining in Canada's three territories.
Chinese spending on gold sextupled in the 00's August 13, 2010
The annual rate of growth of gold spending in China has been 23% this decade and the nation's gold purchases could see an additional 200 tonnes of consumption in the next decade.
Gold stocks HUI bull market seasonal analysis August 13, 2010
Precious-metals stocks really haven’t had a great summer by any means. After rallying initially in June, they started relentlessly drifting lower in July. The net result of this lackluster summer trading is a lethargic drift sideways. Naturally this listlessness has weighed on sentiment among this sector’s traders.
South African gold production down 5.3% in June August 12, 2010
Gold output in the country fell 5.3 percent in volume terms and total mineral production fell 4.9 percent in June compared with the same month last year, data showed on Thursday.
Rain may cut Indonesian tin output 20% August 12, 2010
The new government forecast would take output towards levels already expected by analysts because of declining reserves and a crackdown on illegal mining.
Gold miners face transitions August 12, 2010
Numbers from seven of the world's biggest gold diggers show that Gold miners are in the money, but face headwinds in rising costs, and scarce "pure gold" opportunities.
Fear of not flying August 12, 2010
For the first time in six years, Japanese authorities drew one step closer to halting the seemingly endless gains in the yen via Finance Minister Noda’s cryptic message that his government will take "appropriate" action with regard to the currency. Japanese exports have come under threat from the gains the yen achieved following the Fed’s steps to boost US economic recovery on Tuesday. The currency rose beyond 85 against the US dollar; a fifteen-year high.
Rio Tinto eyeing stake in Russia's Uralkali August 12, 2010
Global majors Rio Tinto and Potash Corp may buy into Russian potash miner Uralkali, sources said on Thursday, as the government seeks a full overhaul of the fertilisers industry.
Copper demand may outstrip supply in 2011 for the first time in four years as China, the world’s biggest consumer, sustains purchases and as ore grades decline, Japan’s largest smelter said.
“Supplies won’t catch up with demand next year and we expect there to be a deficit of 200,000 metric tons,” Hidenori Kamoo, general manager of the marketing department at Pan Pacific Copper Co., said in an interview yesterday.
Copper, used in pipes, tubes and wires, faces a “deepening supply crunch” and record prices are highly likely in the next two years, Barclays Capital said in a report on July 27. Prices for immediate delivery will average $7,763 a ton next year as a market shortage widens, the bank said. The spot price in London has averaged $7,088 this year.
“With few new large-scale mines on the horizon and stagnation at existing facilities, in our view, price direction will be upwards given the approach of multiyear deficits,” Barclays said. Demand will exceed supply this year by 132,000 tons and by 386,000 tons next year, the bank said.
Pan Pacific expects the market to be balanced this year because of China’s higher-than-expected first-half demand, Kamoo said. The company had forecast a 300,000-ton surplus, he said.
China imported 1.6 million tons of refined copper in the first half, down from a record 1.8 million tons in the year-ago period, according to data from the Beijing-based Customs General Administration. The country imported 1.5 million tons in 2008.
“Even though global demand for cathode may a bit slow later this year following Europe’s sovereign-debt problems and China’s tightening monetary policy, supplies will remain very tight, especially in East Asia,” he said. Pan Pacific predicted global demand will increase 6.9 percent in 2010 and 3.8 percent in 2011, he said.
Should smelters continue to see lower grades of ore, falling processing fees and tight supplies of scrap, some may reduce production of refined metal later this year, Kamoo said.
Pan Pacific plans to produce 7 percent less than its annual capacity in the April to September period, while Sumitomo Metal Mining Co., the country’s second-largest producer, expects a 10 percent output cut in the year started April 1.
“We cannot rule out the possibility smelters may cut output further from October if unfavorable market conditions continue,” he said. “The end of subsidies for eco-friendly vehicles in Japan may also drive metal producers at home to consider output cuts,” he said.
Japan’s subsidy program, which exempts purchases of electric, hybrid, natural gas and some diesel vehicles from taxes, will expire at the end of September.
Demand from the auto and semiconductor sectors in Japan, South Korea and Southeast Asian nations has pushed physical premiums higher, he said. Copper premiums for China may be more than $100 a ton in 2011, from $85 a ton this year, he said.
Spot premiums for Shanghai on a cost, insurance and freight basis stood at $100-$120 a ton, up from $70-$100 a ton last year, Kamoo said.
Copper for three-month delivery dropped 0.9 percent to $7,361 a ton on the London Metal Exchange at 12:18 p.m. Tokyo time. Stockpiles tracked by the LME fell 0.5 percent to 410,475 tons yesterday, the lowest level since Nov. 17.
--Editors: Jarrett Banks, Matthew Oakley
To contact the reporters on this story: Jae Hur in Tokyo at email@example.com; Ichiro Suzuki in Tokyo at firstname.lastname@example.org
According to a spokesman at the world's largest copper producer, "the growth in demand in China is practically unstoppable".
SHANGHAI (Reuters) -
China's copper demand is expected to grow at 8 percent this year from last year, and at a similar pace next year, a senior executive of Chile's Codelco, the world's largest copper producer, said on Thursday.
"The growth of demand in China is practically unstoppable," Rodrigo Toro, corporate senior sales vice president of Codelco, told reporters on the sidelines of a meeting with clients.
Toro said Beijing's tighter monetary policy was a healthy dose to control the country's breakneck growth.
"We are happy to see the demand in China will continue at very healthy rate, not as big as would be at 12 percent GDP growth, because producers would not be able to respond to that additional demand."
He said the global copper demand growth would be 4 percent this year, but added it might improve next year if the economy picked up pace.
Codelco produced 1.782 million tonnes of copper in 2009, up 16 percent from a year earlier, after years of dwindling output.
The company expected to maintain the same level of output this year as well as in the next two years, its chief executive Diego Hernandez, told clients earlier.
The company said earlier this year that it planned to invest $3 billion each year for the next five years to revamp century-old mines and exploit new deposits as part of its plan to lift output to around 2 million tonnes of copper per year.
Ninety percent of Codelco's copper production is in the form of cathode, but the ratio of copper concentrate is expected to rise in the next 7 to 8 years after the expansion projects at Mina Ministro Helas and Andina mines are executed.
Toro said the company will focus on resources in Chile, rather than venturing overseas, in the period.
"We would be impractical to be thinking of additional projects in the next five years," he said.
Toro declined to forecast term premiums for next year, but said if based on current situation in the market, term premiums should rise for 2011.
Chinese merchants are keen to build copper stocks in the next few months through bargain-hunting, fed by expectations term premiums to China for shipments next year will rise to over $100 over cash LME prices MCU0 for Chilean refined copper cathode imports, up 18 percent from this year's $85 level. [ID:nTOE66S08T]
Copper treatment fees, also known as TC/RC, were expected to remain at low levels, Toro also said.
"Treatment charges for copper concentrate will remain extremely low for quite some time. The overcapacity in smelting and refining is so big that the demand for concentrate will exceed largely the possibility of supply of copper concentrate," he said. (Reporting by Rujun Shen and Jacqueline Wong; editing by James Jukwey)
The latest news from around the world on the markets, sectors and companies Casey Research specializes in. Click any headline to read the full article.
So, Fed's choice? August 9, 2010
US Treasuries and crude oil went their merry opposite ways overnight, as the former held near their lows over in Europe on anticipation the Fed may engage in fresh bond purchases, and the latter climbed on bets that the US economy will recover at a better pace [perhaps owing to such Fed largesse].
Gold and silver huge short position August 9, 2010
There is a case to be made that world production is not the only issue, but the available supply is just as important, if not more.
US economy structural problems still intact August 9, 2010
Bill Watkins, a California Lutheran University professor, provides a nice summary on New Geography of the failure of various stimulus efforts to do anything meaningful in the wake of a collapse by Lehman, a collapse he says is a "regime shift".
Where's the copper to come from?.. August 9, 2010
According to Robert Friedland we need to mine as much copper in the next 20 years as we have in the past 110 - where is this copper to come from?
China pushes for gold; India follows suit August 9, 2010
Hot on China's heels, India's Central bank is mulling over a proposal to allow banks to trade in gold. If cleared, the move will only strengthen the validity of the bull case in gold.
Vale announces plans to extend new Peru mine August 6, 2010
Vale CEO, Roger Agnelli said the Bayoyar phosphate mine will be expanded over the next 18 months and added that he expects iron ore prices to hold steady around $140 per tonne.
In the second quarter, there were 142 announced deals totaling $37 billion in the oil and gas sector – that’s the highest level of M&A activity in 18 months. In the same period late year, M&A deals were worth just $14 billion.
The golden decade August 6, 2010
As gold hovers near $1,200 an ounce and pundits speculate about a 'gold bubble', it's important for investors to remember that a mere decade ago the picture was very different. In the year 2000, gold sat at an unimpressive annual average of $279 an ounce - a two-decade low. At that time, most analysts thought gold was finished as a monetary metal. They said its price would never recover and only kooks with tin hats would invest in it. I was one of the very few financial commentators publicly saying that gold was not only viable, but entering a long-term uptrend.
How important is gold to the states? August 6, 2010
Since the demise of the Gold Standard, monetary authorities have tried as many ways as possible out there to sideline gold as part of the monetary system. Since the early eighties they have succeeded to some extent, but this was by discrediting it and by emphasizing the benefits of paper currencies. Paper money in a paper system was working very well and everybody felt that much more prosperous, so ignored gold's departure.
New gold ETF planned... August 5, 2010
ETF Securities is looking to launch a new gold ETF which will hold the gold backing it in secure vaults in Singapore to parallel its similar ETF which holds its gold in Switzerland.
Gold on a fast boat to China August 5, 2010
As China's position in the global economy expands, so the reaction from the West should perhaps be less antagonistic and more like that of gold.
Yellow, black gold are shining August 5, 2010
Commodities have been shining recently as the US dollar loses its luster for investors. Also the weakening dollar has helped boost equities as a lower US currency helps the large multi-national companies. This report is a quick follow-up from my report showing what the odds were favoring – which was higher gold, oil and S&P 500. As of today each investment is unfolding as planned, one candle at a time.
Take the next exit ahead August 5, 2010
The enactment of exit strategies by the ECB as well as the Bank of England remained on hold this morning as both institutions left key interest rates unchanged, at 1% and 0.5% respectively. The central banks appear to be eyeing the continuing but fragile recovery in their respective economies and are opting to remain on the "loose" end of interest rate policies for the time being. The psychology of the moment remains defined by ensuring that growth really sticks and intangibles such as confidence show clear signs of having become fully repaired.
State to stay out of Norilsk Nickel August 4, 2010
The Kremlin on Tuesday ruled out the possibility of the government buying a stake in Russia’s biggest mining company, Norilsk Nickel, to end a bitter dispute between its two major shareholders, Oleg Deripaska and Vladimir Potanin.
In trading on Tuesday, shares of Stone Energy Corp. (Symbol SGY) crossed below their last reported book value defined as common shareholder equity per share of $22.16, changing hands as low as $21.48 per share. Stone Energy Corp. shares
Late selling kept stocks from extending their record breaking gains, with the Dow Jones Industrial Average drifting off a new all time high late in today's session to finish with a small decline. Disappointing economic data, including a surprise
Stocks end mixed but not before stretching to fresh record highs after a choppy start. The Nasdaq Composite ends higher for its fourth straight gain. Disappointing economic data, including a surprise fall in consumer confidence, kept bulls on the
In trading on Tuesday, shares of Eldorado Gold Corp (Symbol EGO) crossed above their 200 day moving average of $6.80, changing hands as high as $6.96 per share. Eldorado Gold Corp shares are currently trading up about 8.9% on
Top Health Care Stocks JNJ +0.09% PFE +1.32% ABT +0.01% MRK +0.42% AMGN 1.21% Health care stocks turned narrowly higher in late day trade with the NYSE Health Care Sector Index adding about 0.3% while shares of health care
Top Tech Stocks MSFT +0.13% AAPL 0.50% IBM 0.17% CSCO +0.85% GOOG +0.10% Technology stocks were easing from their best levels earlier this afternoon with shares of technology companies in the S&P; 500 rising about 0.2%. In company news,
Top Consumer Stocks WMT 0.37% MCD 0.08% DIS +1.34% CVS 0.30% KO +0.32% Consumer stocks were slightly higher with shares of consumer staples companies in the S&P; 500 climbing about 0.2%. Shares of consumer discretionary firms in the S&P;
Top Financial Stocks JPM 1.03% BAC 0.29% WFC 0.15% C +0.07% USB 0.57% Financial stocks were narrowly mixed in late trade with the NYSE Financial Sector Index rising 0.1% and the S&P; Financial 100 Index falling less than 0.1%.
Top Energy Stocks XOM 0.90% CVX 1.17% COP 2.25% SLB 3.16% OXY 2.16% Energy stocks were finishing sharply lower Tuesday with the NYSE Energy Sector Index sinking about 1.4% while shares of energy companies in the S&P; 500 were
Hewlett Packard ( HPQ ) is set to report its Q4 results in the extended hours today, and analysts polled by Capital IQ are expecting a profit of $1.05 per share on revenue of $28.76 billion. HPQ is favoring
Expected Earnings Release 11 25 2014, After hours Avg. Extended Hours Dollar Volume $1,518,218 AeroVironment, Inc. ( AVAV ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history, traders can expect
Expected Earnings Release 11 25 2014, After hours Avg. Extended Hours Dollar Volume $1,667,462 Arrowhead Research Corp. ( ARWR ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history, traders can
Expected Earnings Release 11 25 2014, After hours Avg. Extended Hours Dollar Volume $3,246,436 TiVo Inc. ( TIVO ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history, traders can expect
Expected Earnings Release 11 25 2014, After hours Avg. Extended Hours Dollar Volume $4,040,545 Ctrip.com International Ltd. ( CTRP ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history, traders can
Expected Earnings Release 11 25 2014, After hours Avg. Extended Hours Dollar Volume $6,665,454 Analog Devices, Inc. ( ADI ) is due to issue its quarterly earnings report in the upcoming extended hours session. Given its history, traders can
The latest analysis from Wood Mackenzie focuses on the crisis in Ukraine, and the growing challenges affecting the coal, power and steelmaking space. Wood Mackenzie’s recent findings have revealed a wider multi-fuel dependency across the power, mining and metals sectors – proving reliance on Russia is far more than just a gas story. From July
MONTREAL - Miguel Valero, president and CEO of Canarail, said his company has been selected to produce the first phase of the feasibility study for a new 310-km-long railway from Sept-Iles, QC, to the Labrador Trough. Canarail will be the...
QUEBEC - Montreal's Lamelee Iron Ore received promising results from the preliminary economic assessment for the Lac Lamelee South iron ore project 50 km south of Fermont. An operation of 5.0 million t/y and a mine life of 20 years was...
The specific measures are as follows: Capacity expansion: Bichamp Cutting Technology, a key manufacturer in China, raised its bi-metal band saw blade capacity from 5 million meters in 2009 to 11.72 million meters in 2013; Benxi Tool Limited Liability ...
afid=301 We expect to see the share prices of Turkey's two largest steel producers, Erdemir and Kardemir, continue to outperform following steady capacity and output growth over 2013. Downside risks to our five-year forecasts include subdued demand from EU ...
BHP Billiton stepped up its cost-cutting plans on Monday as the world's biggest miner battles a sharp slide in iron ore, coal and oil prices. BHP expects to reap savings of $4 billion by June 2017, up ...
The World Steel Association said that Iran produced 13.51 million tonnes of crude steel in the first ten months of 2014, a 6.5% rise compared to the same period in 2013. As per report, the country's crude steel output stood at 1.444 million tonnes in ...
NAMISA and asset related to iron ore mining business such as Casa de Pedra Mine (CdP) and logistics asset (MRS railway company's shares and port facility) which Brazilian steel mill,Companhia Siderurgica Nacional (CSN) owns. ITOCHU established Brazil Japan ...
As part of its long-term capacity expansion, Steel Authority of India Ltd. (SAIL: Quote) said it would enhance the installed capacity of hot metal to 10 million tonnes per annum (MTPA) from the present level of 4.5 MTPA at its Rourkela Steel Plant ...
While we don't know the economics of the new mining venture, we view the transaction as negative, as ultimately CSN is giving away a part of a valuable strategic asset which is the Casa de Pedra iron ore mine, said Rodolfo Angele, a mining and steel ...
What was lacking at BHP Billiton's annual meeting was an admission that what has effectively happened with iron ore is that the company's shareholders are subsidising the profits of Chinese steel mills. ...
Ahmed Ezz, the founder of Ezz Steel, Egypt's largest steel maker, must pay 10 million Egyptian pounds (0.89 million pounds) rather than 100 million pounds. Judicial sources said the lower figure was the maximum legal penalty permitted when the case was ...
By A. Ananthalakshmi SINGAPORE (Reuters) - Gold steadied below $1,200 an ounce on Tuesday after small losses in the previous session, while traders eyed the dollar and an upcoming Swiss referendum on central ...
SHANGHAI, November 24, SinoCast -- Hunan Valin Steel shows that it exports products mainly to South Korea, Southeast Asia, the Middle East, etc; its exports accounted for about 10% of total sales volume in the first three quarters, rising sharply over last ...
The architecture firm LOT:EK took that to the limit when designing and constructing the APAP OpenSchool in Anyang, Korea. They used eight recycled ... connected to the main steel frame. After all the modules were in place, two teams worked on finishing ...
Among the most active stocks in Shanghai were Zijin Mining , up 5.62 per cent at 2.82 yuan; Baotou Steel , up 0.65 per cent at 3.103.10 yuan; and Founder Securities, up 3.32 per cent at 8.40 yuan. In Shenzhen, BOE Technology, up 1.1 per cent at 2.66 yuan ...
In October Ukraine exported $247.2 million worth of flat rolled products, with imports on the level of $69.55 million. One of the main importers of flat rolled products in October was Turkey ($32.45 million). In January-October Ukraine exported $3043.17 million worth of flat rolled products, with imports reaching $655.96 million. (Ukrainian metal) Price monitoring of
India's Jindal Steel and Power (JSPL) has shelved a $10bn coal-to-diesel project, becoming the first big victim of a recent Supreme Court decision that scrapped coal mining permits awarded to various private firms since 1993.
Companhia Siderurgica Nacional S.A. (CSN) manufactures iron and steel in Brazil. The Company operates mines, an integrated steel mill, service centers, ports, and railroads. CSN manufactures and distributes hot-rolled, cold-rolled, and galvanized steel ...
Henan Province, China. The company has historically been a vertically-integrated coal and coke processor of basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking has been producing ...
United States Steel Corp. will hold a news conference at 11 a.m. Monday, reportedly to announce it will locate its headquarters at the former Civic Arena site. A U.S. Steel spokeswoman declined to provide details about the news conference, which will be held at the Consol Energy Center downtown.
Chinese rate cut fails to spur optimism in glut-hit market * Piles more pressure on benchmark spot, holding at 5-yr low By Manolo Serapio Jr SINGAPORE, Nov 25 (Reuters) - Chinese iron ore futures tumbled more than 3 percent to a record low on Tuesday ...
FRANKFURT (Reuters) - Shutting more German coal-fired power plants to meet ambitious climate goals would damage industry and cost jobs without helping the environment, the BDI federation of industries said on Monday. The BDI was reacting to a document seen by Reuters that showed Germany is working on a new law to force energy companies to shut down eight more coal-fired plants - on top of the 50 ...
The industrial spectrum in Jubail ranges from primary industries which include a large number of petrochemical plants including Saudi Iron and Steel Company (Hadeed) and Saudi Aramco Shell Refinery Co. (SASREF); secondary industries which utilize the ...
Iron ore is an important raw material for the steel industry. Thus, demand for iron ore by the steel industry plays a major role in determining its price. China is the largest producer of steel in the world, accounting for around 49% of global steel ...
China: China Railway Corp has ordered high speed trainsets worth 24·9bn yuan from CNR Changchun and CNR Tangshan, and wagons worth 844m yuan from CNR's Qiqihar, Dalian Qiche, Xi'an, Shenyang and Jinan businesses ... for 12 MF01 steel-wheeled metro ...
A large number of mining projects are expected to begin next year or in early 2016. Shougang Corp., a Chinese steel company, is spending $1.5 billion to expand an iron mine at Marcona on the Pacific coast. Bear Greek Mining, a U.S.-Peruvian company ...
The first two are Cooper Kunshan China Tire Co. Ltd. and Giti Tire Fujian Co. Ltd. which attracted rates of ... Since that note was written the Department has confirmed via complainants the United Steel Workers union that they are investigated a total ...
Among the most active stocks in Shanghai were Zijin Mining , up 5.62 percent to 2.82 yuan; Baotou Steel , up 0.65 percent to 3.103.10 yuan; and Founder Securities, up 3.32 percent to 8.40 yuan. In Shenzhen, BOE Technology, up 1.1 percent to 2.66 yuan ...
with Hunan Valin. ArcelorMittal's China JV will start production next year ArcelorMittal's JV in China will start production in 1Q15. The plant will have an annual production capacity of around three million tonnes. The plant will produce steel for ...
What was lacking at BHP Billiton's annual meeting was an admission that what has effectively happened with iron ore is that the company's shareholders are subsidising the profits of Chinese steel mills. ...
Egypt's cassation court reduced the fine levied on steel Tycoon Ahmed Ezz for monopolistic practices by 90 percent. The fine was reduced to LE10 million ($1.4m), down from the LE100 million ($14m) he was handed last year for manipulating steel prices ...
NAMISA and asset related to iron ore mining business such as Casa de Pedra Mine (CdP) and logistics asset (MRS railway company's shares and port facility) which Brazilian steel mill,Companhia Siderurgica Nacional (CSN) owns. ITOCHU established Brazil ...
Peabody Energy Corp and Glencore Plc have agreed to form a joint venture at two neighbouring mines in Australia's Hunter Valley, in a bid to slash costs amid a slump in coal prices. Peabody, the world's ...
There is excess exports which are coming into the global markets. So, we remain concerned and mostly o the ferrous side where we feel that the steel prices would remain subdued for some time to come led by the lower iron ore prices that we are seeing.
By John Chalmers and Krishna N. Das NEW DELHI (Reuters) - Jindal Steel and Power Ltd(JNSP.NS) has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty ...
Andre Gerdau Johannpeter, president and CEO of Brazil's largest steel producer, Gerdau (Brasil), made a presentation during the annual conference of the Latin American steel industry in Mexico City held from Nov 9-11. XUN WEI / Xinhua At the annual ...
Chinese steelmakers, including the 11th-largest, Hunan Valin Iron & Steel Group, are cautious with the economy on course for its lowest growth rate since 1990 as property slumps and investment slows. Steel demand will maintain a small pace of growth for ...
Oceanic Iron Ore Corp. announces that pursuant to the Company's Stock Option Plan, a total of 1,415,000 incentive stock options have been granted to directors, officers, employees and consultants of the ...
Montana tax authorities were expected to argue Tuesday before the state Supreme Court that a Wyoming mining company owes $3.4 million for selling coal to affiliated companies at less-than-market prices. ...
Iron ore miners have bounced back from last week's big hit to their share prices after a surprise rate cut in China raised hopes for its steel-intensive housing sector. Andrew Forrest's Fortescue Metals ...
LONDON (Reuters) - ArcelorMittal , the world's biggest steelmaker, has submitted a non-binding offer together with Italian steel processor Marcegaglia for Italy's Ilva steel plant, holding out a lifeline to the loss-making plant mired in an environmental scandal.
It's not often that the global steel industry makes the pages of a British tabloid newspaper, but it happened yesterday in the left-leaning Daily Mirror. Political correspondent Kevin Maguire wrote that the 'plight of thousands of British steelworkers is a ...
ArcelorMittal Kriviy Rih has opened its fourth metal products warehouse – now in Ternopil. From this new warehouse the company has already supplied its first hundred tons of metal. This warehouse carries all the range of AMKR products. The new warehouse has been opened according to the program of the company’s own distribution network construction,
Cia. Siderurgica Nacional SA (CSNA3), the second-largest publicly traded iron-ore producer in Brazil, rallied after agreeing to settle a dispute with Asian partners by merging mining and logistics operations. Assets of CSN, as the Sao Paulo-based company ...
NEW YORK, Nov. 25, 2014 /PRNewswire/ -- SynopsisThe 'Iron Ore Mining in Brazil to 2020' report comprehensively covers the country's historic and forecast data on iron ore production (also by form), reserves, consumption and trade to 2020. The trade section provides information on export...
CAIRO, Nov 25 (Aswat Masriya) - The Court of Cassation reduced on Tuesday a fine Mubarak-era's steel tycoon Ahmed Ezz was ordered to pay for steel monopoly from 100 million to 10 million Egyptian pounds. The same fine was also reduced, in the same amount ...
Arab Finance: EFG-Hermes has reiterated its Buy rating for Ezz Steel (ESRS), it said in a report. The analyst firm said it remains positive on the long term prospects of the company as the new DRI expansion should fuel margin expansion and create value to ...
However the property poor performance seems to have had only a modest effect on Chinese steel production, with crude production for October at 67.5 million tonnes, down 0.3 per cent on October 2013 according to the World Steel Association. "In the ...
Companies in the steel market have been struggling, but Nucor recently outpaced the challenges and came out with strong results in the third quarter. The solid growth in the earnings reveal the strong position of the company in the market.
Find below the iron ore charts for November 26, 2015: As expected, Chinese iron ore bears are in total control. The paper conflagration is raging out of control with Dalian signalling $60 by May. Surely we'll sink into the $50s today. Physical is no ...
The Morning JournalKaylee Remingtonemail@example.com Lorain County Community College faculty member Jacob Schneider (right), shows Greg Oprisu, manager of electrical maintenance in ArcelorMittal Cleveland's steel producing division, some of the ...
BHP Billiton today stepped up its efforts to deal with a plunging iron ore price by declaring it would push through an extra $500million (312million) a year of productivity improvements in the next two years.
The devastating effects of chronic power shortages in North Korea continue unchecked--most recently evidenced at the country's largest producer of iron ore, Musan Mine, where operations have ground to a halt. This year's power output from ...
** Shares in Australian iron ore producers rebound from multi-year lows on expectations the surprise rate cut in China will drive up demand and stop price fall ** Rio Tinto Ltd up 4 pct at A$58.54 and ...
Egyptian steel tycoon, Ahmed Ezz paid on Tuesday a LE33 million ($4.7 million) as the second payment of a total LE100 ($14 million) million fine, Al-Ahram's Arabic news website reported. Ezz paid a first tranche of 11 million Egyptian pounds ($1.5 million ...
Basic goods sales also dropped, by 0.9%, driven by oil, coffee bean, poultry, beef and pork. Semi-finished goods exports were up 9.7% due to iron and steel, wood pulp and raw aluminium. Imports amounted to US$ 4.5 billion last week and bilateral trade ...
The same government that has watched for decades as individuals enriched themselves by stripping the country of all national assets and resources; parastatal; NRZ, Dairiboard, Zupco, GMB, Zisco steel and others. It is this government that let our taps dry ...
IF YOURE to believe former mayor and ex-congressman Tomas Osmea, its not just steel bars and other materials from the demolished old Cebu City hospital that the public should ask about. There were also at least 400 hospital beds and several air-conditioning units that must be accounted for. The beds, which Tomas said were 100% electrical, were expensive. He didnt describe the state and ...
China's surprise interest rate cut could help ease the burden on hundreds of debt-ridden steel mills, but it is unlikely to spur a market recovery for firms facing a winter demand slowdown and a freeze on credit.
The commodity code for the Iron Ore 58% Fe, Low Alumina, CFR China (TSI) Futures contract will be TIC. It will be listed for the current calendar year and the next two calendar years, with January 2015 as the first listed contract month.
While the risk of returning to the consistently elevated shipments seen over the previous decade is remote, there could be a spike before the end of the year or more likely in H1 15. Switzerland remained a net exporter of palladium.
China and rsquo;s crude steel production for October 2014 was 67.5 Mt, a slight decrease of -0.3% compared to October 2013. The crude steel capacity utilisation ratio for the 65 countries in October 2014 was 74.7%.
The Narendra Modi-led government has ordered strict quality checks on imports of specific steel products from China. The move is aimed at Chinese steel makers exporting steel by adding boron in their product mix.
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.