Tag Archive
Iron Ore Ships As Steel Shapes Up – US-FOREX.US
Concerns about speculative buying continues to temper optimism regarding strengthening base metal prices as the market seeks to differentiate real metal demand from stockpiling and other conjectural buying. According to a recent report, one sector boasting solid demand is steel.Metal demand from China during the first half of the year bolstered steel demand, likely… »
BHPs Upturn Plans – US-FOREX.US
Cost consciousness is paying off at BHP Billiton. While the mining industry is still licking the wounds from an up to 90% tumble in some metal prices and faltering growth in commodity-gobbling China, the Anglo-Aussie company is keeping its eyes peeled for acquisition opportunities.
While investment in forthcoming projects would be its priority, “we do look… »
Chinas Lightens Up On Rio Tinto – US-FOREX.US
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Four employees of Rio Tinto have been charged by the Chinese government of illegally obtaining corporate secrets and bribery. The four were expected to be charged with violating more serious state secrets laws. Australian citizen Stern Hu, general manager of Rio Tinto’s Shanghai office in charge of the iron ore business and three… »
BHPReady For The Upturn – US-FOREX.US
The past twelve months were never going to be pleasant for miners, with spot prices for metals falling by up to 90%, and commodity-gobbler China witnessing faltering economic growth this year, but all in all, BHP Billiton seems to have coped as well as it could have under the circumstances.Profits at the Anglo Australian firm… »
China Fires The Next Volley – US-FOREX.US
China fired another round in its ongoing trade dispute with Australia when it formally arrested four Rio Tinto employees it had accused of bribery and spying.
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The four employees were formally arrested on charges of infringing on trade secrets and paying bribes, China’s Xinhua News Agency reported… »
China Takes Its Iron Ore Buy To Brazil – US-FOREX.US
HONG KONG -
In a common Chinese bargaining tactic staged daily at markets and shopping malls, buyers usually pretend they are walking away if sellers refuse to offer a better price. The same strategy is now being used by Chinese steel mills to negotiate with tough Australian iron ore miners.
Chinese steel mills, at an impasse over… »
ArcelorMittal Blurs Steel Outlook – US-FOREX.US
Signs of the recovery in demand for steel aren’t translating into concrete numbers for its suppliers it seems, highlighted by the latest update from Lakshmi Mittal’s ArcelorMittal.The firm’s forecasts for the a third quarter EBITDA of between 1.4 billion and 1.8 billion disappointed a market that had been hoping that signs of the green shoots… »
BHP Dampens The Party – US-FOREX.US
Top mining companies are set for a rough ride in the next few months, if the latest assessment of titan BHP Billiton is any indication.Updating the market on its iron ore production in the past quarter , the firm warned it expects the recent restocking in China, which has spurred a rise in metal demand… »