Coal Investing News reports India is seeking coal and is on a buying spree.
Coal India, the world’s biggest coal miner, aims to import 50 million tonnes of thermal coal a year from Australia, Indonesia and Mozambique from 2016-17 to cover a forecast increase in demand for power, chairman Partha Bhattacharya said.
India imports Australian coking coal [...]
Iron Investing News reports the global commodity market is bouncing back.
BHP, the Anglo-Australian company’s involvement in the full range of mining, from iron ore to diamonds to coal, gives it a broad take on the overall state of the commodities market. Last November, BHP Billiton was forced to defer delivery of 6 million tonnes of [...]
Tin Investing News reports tin prices soared.
Due to domestic demand for domestic steel price, the price of tin plate has soared. The latest monthly EXW price of Xindzhong Steel Sheet in the East China region showed continued stocking increasing up CNY 200 per tonne around over last month.
For complete story, click this link.
Follow developments [...]
Crude Investing News reports crude oil did well for about 4 days and fell on Tuesday.
Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
After nose-diving from a peak [...]
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Gold Investing News reports a deal between Centerra Gold, a Canadian company and Kyrgyzstan’s lawmakers.
The settlement will raise the state’s share in Canada-based Centerra Gold Inc. (CG.TO), which owns the lucrative Kumtor mine, to 33 per cent from 15.7 per cent previously.
In addition to increasing Kyrgyzstan’s role in the Kumtor project, the $100 million deal [...]
Crude Investing News reports crude price fell about 40 cents this week.
Weak crude demand and rising inventories have kept prices from rising higher. Storage facilities for crude oil in the U.S. have been swelling since the end of February, bloating to a nearly 19-year high last week. The signs were clear though. U.S. fuel consumption [...]
Coal Investing News reports coal sees a brighter light with spring contract supply negotiations.
While the result is less than half of fiscal 2008’s record price of $300 a tonne, it still points to one of the best years ever for coking coal prices and implies that Canadian coking coal producers could enjoy a better than [...]
Tin Investing News reports tin has a better recovery potential than other base metals since there isn’t any inventory buildup.
Recovery, though, is not here yet, analysts state, and further price strength will only come from what looks set to be a war of attrition between the bulls and bears. Moreover, any resumption of bad news [...]
Gas Investing News reports natural gas futures is still sliding below the $7.00 mark on the NYMEX.
Money quote:
From the bull market high of 470 in June this year, the index has fallen 40 per cent. That puts this energy bear market in a league with the index’s worst bear market declines, in 1998, 1986, and [...]
Gas Investing News reports Shell and the Iraqi government putting on paper, a joint venture deal.
In even better news, Shell opened a new office in Baghdad, a good sign that the country is beginning to find stability. Shell employees, however, refused to indicate where their office was.
For complete story, click this link. Follow developments in resource mining [...]
Wednesday, September 16, 2009
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