Iron Investing News reports on Chinese steel and iron ore group, Baosteel. Traders maintain that any deal with Baosteel could help Anglo fend off suitor Xstrata (XTA.L), which last week was told to make a formal bid for Anglo by October 20 or walk away for six months. The opposition to Xstrata’s proposal for a nil-premium [...]
Iron Investing News reports iron is supported by the Australian government. Shares in WA’s mid-west iron ore miners and explorers lifted after the Federal Government committed $339 million towards the $4 billion Oakajee port. The government matched funding offered by the WA state government in its 2009/10 federal budget handed down on Tuesday, bringing the [...]
Iron Investing News reports iron market moving towards a gloomy start. “We need to recognise the fundamentals of the market. The market would show that it does need a downward adjustment this year,” said Sam Walsh, head of Rio’s iron ore division. But given the potential for a recovery in industrial demand at some stage [...]
Aluminum Investing News reports aluminum companies are still struggling despite some positive news from the global markets. In its latest Industry report, the aluminum association showed demand for North American aluminum mill products in January rose 4.0 per cent from December but tumbled 26.4 per cent from January 2007. Shipments slid to an estimated 1,443.4 [...]
Iron Investing News reports price of iron ore will be staying at a low mark. Even as news comes filtering in that China has landed a 40 per cent price cut with the Top Three ore miners, final iron ore talks for fiscal 2009/2010 have yet to see the light of day. For complete story, click this [...]
Diamond Investing News reports diamond loses its market value reflecting the economy. The latest numbers to be received are the stats on February. Now, after six months the dire numbers have finally lost their “shock value”. The latest data show Belgium, Israel, India and the U.S. all witnessing high double-digit drops in their import and export data. Since [...]
Iron Investing News reports iron ore prices are set to fall due to the global recession. We believe prices should settle somewhere between 30 and 35 per cent below the agreed rates last year,” said Alan Cummings, Territory’s general manager finance. BHP and Rio Tinto are locked in negotiations with North Asian customers over prices [...]
Aluminum Investing News reports aluminum prices remain low while its producers’ cutbacks have made no effect on its price. Aluminum’s low price, in conjunction with the lack of equity to keep operations running is squandering producer’s stock value. Alcoa Shares fell to a 52-week low on Thursday on the New York Stock Exchange, down 97 [...]
Diamond Investing News reports diamond markets are struggling with the current economy and warns that changes may take place. The lack of equity world-wide is especially nerve wracking for the diamond industry. The diamond business is centered on debt, even when times are good. Due to the high value of even a small amount of [...]
Iron Investing News reports iron-ore miners are looking for a price rise. The miners, which only a month ago were hoping to avoid a decline and keep prices flat, say a recent uptick in demand from China may signal that the market has bottomed out. They also note that spot prices have inched up since late [...]
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