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06.50
Spot Iron Ore Prices gain as Buyer Continue Restocking
Written By mine on Sabtu, 02 April 2011 | 06.50
Spot iron ore prices extended their recovery on Friday, inching towards $180 per tonne as Chinese buyers continued to replenish their stocks, but traders were still bracing for another slump.
A commodities broker based in Hong Kong said most in the market still believed current prices were unsustainable, even after the pick-up in trade this week.
"We may have seen a jump this week but generally people are in the market for one or two shipments and that's it -- they will buy what they need, but stockpiles are still pretty high," he said.
Industry consultancy Mysteel's 63.5-63 percent index for Indian fines on the Chinese market reached $179 per tonne on Friday, up $2 on the day and $8 since last week.
Platts 62 percent iron ore index ended Thursday unchanged at $175 a tonne after jumping $5.50 on Wednesday.
Metal Bulletin's 62 percent gauge reached $172.87, up $3.16, while the Steel Index saw a $1.90 increase to $172.40.
The broker said the relatively large increases might have resulted from a decision by Rio Tinto (Berlin: CRA1.BE - news) and BHP Billiton to auction off a number of cargoes this week.
"They have each got a dozen customers, and they hold internal auctions of cargoes -- these didn't previously go into the index but now they do, and they might have a substantial impact," he said.
There remain ongoing concerns about supply, with the industry still waiting for an April 4 hearing by India's supreme court on the legality of a supply ban from the country's biggest iron ore producing state, Karnataka. [ID:nL3E7DB0VD]
"If we see a loosening up from Karnataka and a bit more supply coming onto the market, the monsoon season notwithstanding, that could reduce the tightness and prices should soften a bit more," said Sebastian Lewis, head of Asia research and consulting with Steel Business Briefing in Shanghai.
Three Chinese traders contacted by Reuters on Friday said the consensus in the market was that prices will fall to around $160-165 in the coming month.
"Steel output is still very high, but if that situation continues it will just cause more problems for the market," said a Beijing-based iron and steel dealer.
The China Iron and Steel Association said this week that Chinese steel output reached a record of 1.94 million tonnes a day in the middle of March, with producers continuing to defy market signals.
Lewis said Chinese mills might actually be massaging their figures after misreporting output volumes in 2010 in order to evade tough energy consumption restrictions.
"They under-reported in order to show they were using less energy, but you can't just lose the figures, and so they just put them into this year," he said.
"Certainly the big (steel) production run in the first few months of the year was probably just misreporting from last year and isn't as strong as people have been saying."
This week's revival in Chinese steel prices appears to have already fizzled out. Mysteel said rebar prices in Shanghai stood at 4,550-4,560 yuan ($696) per tonne on Friday, up 30 yuan from last week but 10 yuan down from Thursday.
The most active rebar contract on the Shanghai Futures Exchange entered the midday break on Friday at 4,768 yuan per tonne, down 25 yuan from Thursday.
As the second quarter begins, the rationale behind the three-month pricing system used by the big iron ore suppliers could be further undermined, the broker suggested.
According to the new rules, April-June prices will be based on an average of index prices from December to February. Despite a slump in spot iron and steel prices in March, mills are now facing record-high contract iron ore costs.
Reuters calculations suggest that three-month contract prices could rise 20 percent to almost $180 per tonne beginning on April 1. [ID:nL3E7E107E]
"The buyer has a choice and he could say that he doesn't want the benchmark but wants the spot price instead -- and that could force (the spot price) up," said the broker.
Lewis said some steel mills could defer shipments in the second quarter and make up the difference from the spot market.
"But it's not the big players who will do this, but the mid-sized players who are producing lower quality steel and can afford not to be so stringent about the quality of the iron ore they use," he said. ($1 = 6.549 yuan) (Editing by Ken Wills).
In 2010, the iron ore mining industry discarded the annual price benchmark system and moved to quarterly pricing, adding a new level of price volatility to the market. As a result of the added volatility, market participants will likely turn to swaps and options to hedge their exposure to this risk.
The trading volume of iron ore swaps increased from about 7 million tons in 2009 to over 20 million tons in 2010. These volumes have continued to climb and, according to one analyst, could see annual totals double over the next five years.
Steel companies will also look to protect their margins and stabilize prices by utilizing swaps and options as risk management tools. The effect should contribute to sustained growth in CME's average daily trading volume of commodity contracts, for which we currently predict a rise from about 0.9 million in 2010 to about 2.4 million by the end of our forecast period.
A commodities broker based in Hong Kong said most in the market still believed current prices were unsustainable, even after the pick-up in trade this week.
"We may have seen a jump this week but generally people are in the market for one or two shipments and that's it -- they will buy what they need, but stockpiles are still pretty high," he said.
Industry consultancy Mysteel's 63.5-63 percent index for Indian fines on the Chinese market reached $179 per tonne on Friday, up $2 on the day and $8 since last week.
Platts 62 percent iron ore index ended Thursday unchanged at $175 a tonne after jumping $5.50 on Wednesday.
Metal Bulletin's 62 percent gauge reached $172.87, up $3.16, while the Steel Index saw a $1.90 increase to $172.40.
The broker said the relatively large increases might have resulted from a decision by Rio Tinto (Berlin: CRA1.BE - news) and BHP Billiton to auction off a number of cargoes this week.
"They have each got a dozen customers, and they hold internal auctions of cargoes -- these didn't previously go into the index but now they do, and they might have a substantial impact," he said.
There remain ongoing concerns about supply, with the industry still waiting for an April 4 hearing by India's supreme court on the legality of a supply ban from the country's biggest iron ore producing state, Karnataka. [ID:nL3E7DB0VD]
"If we see a loosening up from Karnataka and a bit more supply coming onto the market, the monsoon season notwithstanding, that could reduce the tightness and prices should soften a bit more," said Sebastian Lewis, head of Asia research and consulting with Steel Business Briefing in Shanghai.
Three Chinese traders contacted by Reuters on Friday said the consensus in the market was that prices will fall to around $160-165 in the coming month.
"Steel output is still very high, but if that situation continues it will just cause more problems for the market," said a Beijing-based iron and steel dealer.
The China Iron and Steel Association said this week that Chinese steel output reached a record of 1.94 million tonnes a day in the middle of March, with producers continuing to defy market signals.
Lewis said Chinese mills might actually be massaging their figures after misreporting output volumes in 2010 in order to evade tough energy consumption restrictions.
"They under-reported in order to show they were using less energy, but you can't just lose the figures, and so they just put them into this year," he said.
"Certainly the big (steel) production run in the first few months of the year was probably just misreporting from last year and isn't as strong as people have been saying."
This week's revival in Chinese steel prices appears to have already fizzled out. Mysteel said rebar prices in Shanghai stood at 4,550-4,560 yuan ($696) per tonne on Friday, up 30 yuan from last week but 10 yuan down from Thursday.
The most active rebar contract on the Shanghai Futures Exchange entered the midday break on Friday at 4,768 yuan per tonne, down 25 yuan from Thursday.
As the second quarter begins, the rationale behind the three-month pricing system used by the big iron ore suppliers could be further undermined, the broker suggested.
According to the new rules, April-June prices will be based on an average of index prices from December to February. Despite a slump in spot iron and steel prices in March, mills are now facing record-high contract iron ore costs.
Reuters calculations suggest that three-month contract prices could rise 20 percent to almost $180 per tonne beginning on April 1. [ID:nL3E7E107E]
"The buyer has a choice and he could say that he doesn't want the benchmark but wants the spot price instead -- and that could force (the spot price) up," said the broker.
Lewis said some steel mills could defer shipments in the second quarter and make up the difference from the spot market.
"But it's not the big players who will do this, but the mid-sized players who are producing lower quality steel and can afford not to be so stringent about the quality of the iron ore they use," he said. ($1 = 6.549 yuan) (Editing by Ken Wills).
In 2010, the iron ore mining industry discarded the annual price benchmark system and moved to quarterly pricing, adding a new level of price volatility to the market. As a result of the added volatility, market participants will likely turn to swaps and options to hedge their exposure to this risk.
The trading volume of iron ore swaps increased from about 7 million tons in 2009 to over 20 million tons in 2010. These volumes have continued to climb and, according to one analyst, could see annual totals double over the next five years.
Steel companies will also look to protect their margins and stabilize prices by utilizing swaps and options as risk management tools. The effect should contribute to sustained growth in CME's average daily trading volume of commodity contracts, for which we currently predict a rise from about 0.9 million in 2010 to about 2.4 million by the end of our forecast period.
17.11
Iron Ore Prices Imported in China Stabilised as Steelmakers Difficulty Credit Access
Written By mine on Jumat, 17 Desember 2010 | 17.11
Iron ore prices of imported in China stabilised on Wednesday near levels last seen in May on firm offers, though trade was thin as some steelmakers had difficulty accessing credit.
Tight supplies from India, the world's third-largest iron ore exporter, had boosted demand for raw material from top miner Australia and was also encouraging suppliers from the Middle East and Africa to boost shipments to China, traders said.
Indian ore with 63.5 percent iron content was being offered at $173-$175 a tonne, cost and freight, for a third day on Wednesday, although Chinese consultancy Umetal said there were more quotes than deals recently.
Chinese steel mills usually find it difficult securing loans to fund iron ore purchases during the end of the year, and recent moves by the Chinese central bank to increase reserve requirements for banks has further limited the amount of money circulating in the market, Umetal said.
The People's Bank of China has focused on higher bank cash reserve requirements to tame inflation that is running at a 28-month high. Cash reserve ratios for banks have been lifted three times since November, with the latest announced last Friday.
Still, some Chinese mills continue to buy iron ore in anticipation of further price increases next year when the country's crude steel output is expected to hit another record level.
For a poll on China's 2011 steel output, consumption and iron ore imports.
The Steel Index 62 percent iron ore benchmark rose 60 cents to $167.50 a tonne, C&F, on Tuesday. The Metal Bulletin's own 62 percent gauge gained 23 cents to $167.40, the highest for that index since May 13.
Prices for iron ore forward swaps continued to top the indices, indicating investors' bullish outlook.
The January contract , cleared by the Singapore Exchange, rose $1.62 to $172.12 a tonne and the February contract climbed $1.38 to $171.00.
TAKING ADVANTAGE
Demand from China is expected to stay strong through to Chinese New Year, a usual restocking period for steel mills, said Michael Gaylard, strategy director at Freight Investor Services in Shanghai.
"We're now in a period where nobody wants to receive cargo after Chinese New Year because no one knows what's going to happen so mills are making sure that they will get their ore in time and according to specifications and the Chinese are happy to pay a strong premium for that," said Gaylard.
And Chinese steelmakers are not keen on paying too high a premium for Indian ore because of delivery issues given limited supplies from there, he said.
India's southern Karnataka state has banned iron ore exports since July and the eastern port of Paradip has temporarily stopped shipping iron ore due to heavy rains.
This has increased demand for Australian ore in the spot market, which Gaylard estimates could hit as high as 150 million tonnes this year versus around 80 million tonnes in total exports for India.
Australia expects iron ore exports to rise to 410.8 million tonnes for the year ending June 2011 from 389.9 million tonnes in the previous year.
Apart from Australia, smaller suppliers like Iran, Kenya and Libya are also stepping up iron offers, said Gaylard.
"There's a lot of countries that are taking advantage of the weakness in spot market delivery from India and they are seeing an opportunity to step in and assert themselves while the market's hot," he said.
Tight supplies from India, the world's third-largest iron ore exporter, had boosted demand for raw material from top miner Australia and was also encouraging suppliers from the Middle East and Africa to boost shipments to China, traders said.
Indian ore with 63.5 percent iron content was being offered at $173-$175 a tonne, cost and freight, for a third day on Wednesday, although Chinese consultancy Umetal said there were more quotes than deals recently.
Chinese steel mills usually find it difficult securing loans to fund iron ore purchases during the end of the year, and recent moves by the Chinese central bank to increase reserve requirements for banks has further limited the amount of money circulating in the market, Umetal said.
The People's Bank of China has focused on higher bank cash reserve requirements to tame inflation that is running at a 28-month high. Cash reserve ratios for banks have been lifted three times since November, with the latest announced last Friday.
Still, some Chinese mills continue to buy iron ore in anticipation of further price increases next year when the country's crude steel output is expected to hit another record level.
For a poll on China's 2011 steel output, consumption and iron ore imports.
The Steel Index 62 percent iron ore benchmark rose 60 cents to $167.50 a tonne, C&F, on Tuesday. The Metal Bulletin's own 62 percent gauge gained 23 cents to $167.40, the highest for that index since May 13.
Prices for iron ore forward swaps continued to top the indices, indicating investors' bullish outlook.
The January contract , cleared by the Singapore Exchange, rose $1.62 to $172.12 a tonne and the February contract climbed $1.38 to $171.00.
TAKING ADVANTAGE
Demand from China is expected to stay strong through to Chinese New Year, a usual restocking period for steel mills, said Michael Gaylard, strategy director at Freight Investor Services in Shanghai.
"We're now in a period where nobody wants to receive cargo after Chinese New Year because no one knows what's going to happen so mills are making sure that they will get their ore in time and according to specifications and the Chinese are happy to pay a strong premium for that," said Gaylard.
And Chinese steelmakers are not keen on paying too high a premium for Indian ore because of delivery issues given limited supplies from there, he said.
India's southern Karnataka state has banned iron ore exports since July and the eastern port of Paradip has temporarily stopped shipping iron ore due to heavy rains.
This has increased demand for Australian ore in the spot market, which Gaylard estimates could hit as high as 150 million tonnes this year versus around 80 million tonnes in total exports for India.
Australia expects iron ore exports to rise to 410.8 million tonnes for the year ending June 2011 from 389.9 million tonnes in the previous year.
Apart from Australia, smaller suppliers like Iran, Kenya and Libya are also stepping up iron offers, said Gaylard.
"There's a lot of countries that are taking advantage of the weakness in spot market delivery from India and they are seeing an opportunity to step in and assert themselves while the market's hot," he said.
01.43
Export India iron ore to China plunges 40 percent
Written By mine on Senin, 22 November 2010 | 01.43
India?s iron ore exports to China plunged by nearly 40 percent in October, forcing the dragon nation to looks for other options.
According to China?s energy ministry, October imports from India stood at 2.91 million tonnes, down 39 percent since September and 44 percent compared with the same period of last year.
India accounted for 6.4 percent of China's total ore imports in October, down from 9 percent in September and almost 20 percent in May, before the monsoon season disrupted shipments.
Ore sourced from Brazil rose 3.3 percent in October to 11.78 million tonnes, while Australian imports fell 20 percent from September to 20.72 million tonnes.
Total imports in October stood at 45.715 million tonnes, down 13.1 percent compared with the previous month.
The big three suppliers accounted for 77 percent of total deliveries, down from 80 percent in September, with some of the slack taken up by Iran, Ukraine and Russia.
India banned exports from the key iron ore producing state of Karnataka in July as part of a campaign against illegal mining, and the ban was upheld by a court.
In August, iron ore imports to China dropped by 13 percent. China is the largest buyer worldwide of iron ore, used in its huge steelmaking industry.
The steep drop in China?s seaborne iron ore imports last month took some analysts by surprise, but Beijing?s recent moves to curb property speculation proved very effective to slow steel production.
According to China?s energy ministry, October imports from India stood at 2.91 million tonnes, down 39 percent since September and 44 percent compared with the same period of last year.
India accounted for 6.4 percent of China's total ore imports in October, down from 9 percent in September and almost 20 percent in May, before the monsoon season disrupted shipments.
Ore sourced from Brazil rose 3.3 percent in October to 11.78 million tonnes, while Australian imports fell 20 percent from September to 20.72 million tonnes.
Total imports in October stood at 45.715 million tonnes, down 13.1 percent compared with the previous month.
The big three suppliers accounted for 77 percent of total deliveries, down from 80 percent in September, with some of the slack taken up by Iran, Ukraine and Russia.
India banned exports from the key iron ore producing state of Karnataka in July as part of a campaign against illegal mining, and the ban was upheld by a court.
In August, iron ore imports to China dropped by 13 percent. China is the largest buyer worldwide of iron ore, used in its huge steelmaking industry.
The steep drop in China?s seaborne iron ore imports last month took some analysts by surprise, but Beijing?s recent moves to curb property speculation proved very effective to slow steel production.
21.48
POSCO Steel Hold Profits to Increase Coal and Iron Ore Prices
Written By mine on Senin, 15 November 2010 | 21.48
Posco the biggest steel companies, sold 24% more of its product into Asia?s steel-hungry factories last quarter, but its profits still sank 8% as costs climbed faster. As a result, POSCO Steel Company net slid $88 million even though its overall sales in the quarter increased dramatically effectively, there was a lower incentive for it to process each ton of ore into finished steel.
POSCO did manage to raise its prices at the start of the second quarter, but this news indicates that the iron miners still have the upper hand which is great news for the giants VALE, BHP and RIO and that the new system of pricing iron ore supply contracts on a quarterly basis is still generating plenty of short-term volatility in the industry.
Korea-based giant confessed that its operating margins sank 4 full percentage points between July and September because strong global competition made it impossible to pass on rising iron ore and coal prices to its customers.
price fluctuation in steel industry in india iron prices of last five years coal price chart for last five years steel prices fluctuation 2010 coal price fluctuation india long term historical coal price chart indonesia iron ore price afghanistan iron ore mittal arcelormittal contracts for coal iron mining in indonesia coal cost for steel indoesia iron ore share price kumba iron ore graph prices of iron ore to be determined quarterly steelmakers outlook volitile iron ore graph metric iron ore mining in indonesia steps of making a car from iron ore the production of steel and iron in metric tons - 2008-2009-2010 steelmaking costs iron ore indonesia canadian raw materals of coal steel and iron of map map of iron ore mines in south africa historical iron ore price chart history of iron ore prices from 2008 to 2010 contract coal ore price india 2010 largest iron ore miner indonesia iron ore mines in indonesia price iron ore indonesia indonesia steel prices 2010 data price for coal per metric ton 2010 iron cost fluctuation charts of fluctuations in steel prices iron ore miners indonesia iron ore prices graph for 2009/2010 iron ore map in indonesia rising cost of raw materials for us auto industry 2010 fluctuations in the price of iron raw steel prices 2009-2010 indonesia iron ore rates cost structure mining indonesia coal fluctuations in iron ore prices freight cost for coal to china per metric tonne coal price for steelmaker oil cost fluctuation in china chart iron ore mining indonesia atlas iron atlas iron ltd every tonne of steel production requires 1 6 tonnes of iron ore and 0 6 tonnes of coking coal steel prices fluctuations south africa 2010 coal ore exploration companies fluctutation in iron ore reasons for fluctuations in prices of iron or coal jfe steel iron ore self sufficient fluctuation of iron cost mittal steel versus kumba iron ore relationship between arcelormittal and car maker
968 oman @ com contact last five years average price volatility of steel fluctuations in iron prices in india exploration iron ore china gold mine investment iron ore price graphs iron ore prices iron ore quarterly contract effect europe news on steel price fluctuation 2010 india price of iron ore imported into saudi fluctuations in steel prices in india during 2009-10 iron ore price fluctuation the fluctuation of steel price in 2008 coal price per metric ton in india replacement coal cost and long term coal contracts steel price fluctuation india iron ore replacement of annual contract worried iron ore price fluctuations iron ore price fluctuation versus steel fluctuation coking coal used by german steel makers how decide the freight prices of coal price of steel fluctuation 2010 steel rates fluctuation for last five years in india iron ore 45% price what does it cost to mine a tonne of iron ore? difference iron ore contract price and spot price copper price fluctuation graph 2010 raw material price fluctuations raw iron ore price in mexico raw materials of steelmaking in india germany steelmaker iron ore deal contract raw material prices fluctuation rates for gold for one year in oman kolmar nmdc iron-ore prices auto industry how is the quarterly iron ore prices determined average cost of coal last five years in india quarterly iron ore pricing and freight rates last five years coal price biggest coal ore importrs-germany volatility in steel prices in 2010 cost of raw iron per ton coal average price 2010 blogs wsj com steel price iron ore fluctuation coal and iron ore prices for steel industry of india in 2010 fluctuations in steel prices in last 1 month iron ore rate in india for the year 2010 steel pricing volatility 2010 steelmakers worried iron ore prices and coal prices fluctuations raw iron steel prices 2010 what are the current going contract and spot prices for high quality metallurgical coal ton steel iron ore coal fluctuation data in steel rate in last 6 months in india cost of iron ore per mt price fluctuation trend of flat iron and steel products in india ratio of coking coal required in making 1 metric ton of steel cost of raw iron per kg in india coal price trend last five years copper rate change during steelmaking steel price fluctuation 2007 coal contracts quarterly system steelmaker iron ore fluctuation in steel prices in 2009 and 2010 changes in price for raw materials in making car price fluctuations in steel industry of india new quarterly pricing coal iron ore rates chart for last five years freight cost iron ore 2010 why gold price fluctuation from last five years in india gold price fluctuation in last 5 years gold price fluctuation in last five years iron ore price fluctuations 2010 iron ore price fluctuations 2009 price fluctuation copper 2009 av cost/ ton of iron ore iron ore price news iron ore in steelmaking gold price fluctuation last 5 years gpld price fluctuations in india in last 5 years reasons for gold price fluctuation in last 5 yrs in india gold price fluctuation of last 5 years gold price fluctuation in india from last 5 years steel price fluctuations for 2010 iron ore prices for last five years copper price fluctuation chart in 2010 fluctuation of oil prices over the past 6 months of 2010 steelmaker material coal and iron ore price trends copper price in last 5 yrs india volatility of coal prices in india graph of raw material cost for the last five years
POSCO did manage to raise its prices at the start of the second quarter, but this news indicates that the iron miners still have the upper hand which is great news for the giants VALE, BHP and RIO and that the new system of pricing iron ore supply contracts on a quarterly basis is still generating plenty of short-term volatility in the industry.
Korea-based giant confessed that its operating margins sank 4 full percentage points between July and September because strong global competition made it impossible to pass on rising iron ore and coal prices to its customers.
price fluctuation in steel industry in india iron prices of last five years coal price chart for last five years steel prices fluctuation 2010 coal price fluctuation india long term historical coal price chart indonesia iron ore price afghanistan iron ore mittal arcelormittal contracts for coal iron mining in indonesia coal cost for steel indoesia iron ore share price kumba iron ore graph prices of iron ore to be determined quarterly steelmakers outlook volitile iron ore graph metric iron ore mining in indonesia steps of making a car from iron ore the production of steel and iron in metric tons - 2008-2009-2010 steelmaking costs iron ore indonesia canadian raw materals of coal steel and iron of map map of iron ore mines in south africa historical iron ore price chart history of iron ore prices from 2008 to 2010 contract coal ore price india 2010 largest iron ore miner indonesia iron ore mines in indonesia price iron ore indonesia indonesia steel prices 2010 data price for coal per metric ton 2010 iron cost fluctuation charts of fluctuations in steel prices iron ore miners indonesia iron ore prices graph for 2009/2010 iron ore map in indonesia rising cost of raw materials for us auto industry 2010 fluctuations in the price of iron raw steel prices 2009-2010 indonesia iron ore rates cost structure mining indonesia coal fluctuations in iron ore prices freight cost for coal to china per metric tonne coal price for steelmaker oil cost fluctuation in china chart iron ore mining indonesia atlas iron atlas iron ltd every tonne of steel production requires 1 6 tonnes of iron ore and 0 6 tonnes of coking coal steel prices fluctuations south africa 2010 coal ore exploration companies fluctutation in iron ore reasons for fluctuations in prices of iron or coal jfe steel iron ore self sufficient fluctuation of iron cost mittal steel versus kumba iron ore relationship between arcelormittal and car maker
968 oman @ com contact last five years average price volatility of steel fluctuations in iron prices in india exploration iron ore china gold mine investment iron ore price graphs iron ore prices iron ore quarterly contract effect europe news on steel price fluctuation 2010 india price of iron ore imported into saudi fluctuations in steel prices in india during 2009-10 iron ore price fluctuation the fluctuation of steel price in 2008 coal price per metric ton in india replacement coal cost and long term coal contracts steel price fluctuation india iron ore replacement of annual contract worried iron ore price fluctuations iron ore price fluctuation versus steel fluctuation coking coal used by german steel makers how decide the freight prices of coal price of steel fluctuation 2010 steel rates fluctuation for last five years in india iron ore 45% price what does it cost to mine a tonne of iron ore? difference iron ore contract price and spot price copper price fluctuation graph 2010 raw material price fluctuations raw iron ore price in mexico raw materials of steelmaking in india germany steelmaker iron ore deal contract raw material prices fluctuation rates for gold for one year in oman kolmar nmdc iron-ore prices auto industry how is the quarterly iron ore prices determined average cost of coal last five years in india quarterly iron ore pricing and freight rates last five years coal price biggest coal ore importrs-germany volatility in steel prices in 2010 cost of raw iron per ton coal average price 2010 blogs wsj com steel price iron ore fluctuation coal and iron ore prices for steel industry of india in 2010 fluctuations in steel prices in last 1 month iron ore rate in india for the year 2010 steel pricing volatility 2010 steelmakers worried iron ore prices and coal prices fluctuations raw iron steel prices 2010 what are the current going contract and spot prices for high quality metallurgical coal ton steel iron ore coal fluctuation data in steel rate in last 6 months in india cost of iron ore per mt price fluctuation trend of flat iron and steel products in india ratio of coking coal required in making 1 metric ton of steel cost of raw iron per kg in india coal price trend last five years copper rate change during steelmaking steel price fluctuation 2007 coal contracts quarterly system steelmaker iron ore fluctuation in steel prices in 2009 and 2010 changes in price for raw materials in making car price fluctuations in steel industry of india new quarterly pricing coal iron ore rates chart for last five years freight cost iron ore 2010 why gold price fluctuation from last five years in india gold price fluctuation in last 5 years gold price fluctuation in last five years iron ore price fluctuations 2010 iron ore price fluctuations 2009 price fluctuation copper 2009 av cost/ ton of iron ore iron ore price news iron ore in steelmaking gold price fluctuation last 5 years gpld price fluctuations in india in last 5 years reasons for gold price fluctuation in last 5 yrs in india gold price fluctuation of last 5 years gold price fluctuation in india from last 5 years steel price fluctuations for 2010 iron ore prices for last five years copper price fluctuation chart in 2010 fluctuation of oil prices over the past 6 months of 2010 steelmaker material coal and iron ore price trends copper price in last 5 yrs india volatility of coal prices in india graph of raw material cost for the last five years
05.34
Twin Project for Mchuchuma coal and Liganga iron ore mining in Ludewa
Written By mine on Rabu, 27 Oktober 2010 | 05.34
Twin project for Mchuchuma coal and Liganga iron ore mining in Ludewa, Iringa region has attracted three bidders from the Far East, it has been learnt.
The three companies are now waiting for a cabinet approval to know who is the successful bidder among them.
The National Development Corporation (NDC) Managing Director, Mr Gideon Nassari said over the weekend that a number of multinationals and local companies bid for the multi-million-dollar project.
However, he declined to reveal the names of the three final bidders, saying tender process regulations bar him from doing so. It is understood that bids came from the US, China, South Korea, Australia, India and Singapore.
He said that the cabinet will be briefed by NDC board of directors on the final three bidders before picking one. He said the fate would be known possibly in January next year, but allayed fears that the project may take too long to start.
"We will move very fast once the bidder has been picked", he said.
In February, this year, 25 international companies showed interest on the Mchuchuma project.
These included China Huadian Engineering Company Limited, Sichuan Hongda Company Limited (China), Nava Bharat Pte Limited (Singapore), Sarda Energy and Minerals Limited (India) and STX (Korea).
Bidders for the Liganga iron ore were Sarda Energy and Minerals Limited (India), Sichuan Hongda Co. Limited (China) and STX Corporation (Korea).
Mchuchuma Coal Mine is expected to boost power supply in the country by generating 400 megawatts and this is seen as a big step for extraction of iron ore at the proposed Liganga mine.
The successful bidders will have to spend some good money to improve the infrastructure in the area as there are no reliable roads and a railway network that links the two sites which are 80 kilometres apart.
The Mchuchuma project involves putting up an open cast mine of 1.5 million tonnes per annum, with an investment estimated at more than 600 million US dollars (about 912bn/-). The Liganga iron ore project is valued at more than one billion US dollars (about 1.5trillion/-).
The three companies are now waiting for a cabinet approval to know who is the successful bidder among them.
The National Development Corporation (NDC) Managing Director, Mr Gideon Nassari said over the weekend that a number of multinationals and local companies bid for the multi-million-dollar project.
However, he declined to reveal the names of the three final bidders, saying tender process regulations bar him from doing so. It is understood that bids came from the US, China, South Korea, Australia, India and Singapore.
He said that the cabinet will be briefed by NDC board of directors on the final three bidders before picking one. He said the fate would be known possibly in January next year, but allayed fears that the project may take too long to start.
"We will move very fast once the bidder has been picked", he said.
In February, this year, 25 international companies showed interest on the Mchuchuma project.
These included China Huadian Engineering Company Limited, Sichuan Hongda Company Limited (China), Nava Bharat Pte Limited (Singapore), Sarda Energy and Minerals Limited (India) and STX (Korea).
Bidders for the Liganga iron ore were Sarda Energy and Minerals Limited (India), Sichuan Hongda Co. Limited (China) and STX Corporation (Korea).
Mchuchuma Coal Mine is expected to boost power supply in the country by generating 400 megawatts and this is seen as a big step for extraction of iron ore at the proposed Liganga mine.
The successful bidders will have to spend some good money to improve the infrastructure in the area as there are no reliable roads and a railway network that links the two sites which are 80 kilometres apart.
The Mchuchuma project involves putting up an open cast mine of 1.5 million tonnes per annum, with an investment estimated at more than 600 million US dollars (about 912bn/-). The Liganga iron ore project is valued at more than one billion US dollars (about 1.5trillion/-).
05.32
Central Iron Ore Closing Tranche 1 of Capital Rising
Central Iron Ore Ltd is pleased to announce that it has closed Tranche 1 of its previously announced Capital Raising of $1.76 million for gross proceeds of $262,500. Pursuant to agreements entered into between the Company and each of Brooklyn Bay Pty Ltd. ("Brooklyn") and Golden Sword Investments Pty Ltd. ("GSI"), the Company issued 5 million shares at 5.25 cents per share equally to Brooklyn and GSI each with an attached warrant exercisable at 10 cents up to 36 months from the issue.
The Company is also pleased to announce the appointment of Brett James Hodgins and Richard Homsany to the Board of Directors, nominees of GSI and Brooklyn, respectively. The appointment of Mr. Hodgins and Mr. Homsany to the Board is subject to re-election at the Annual General Meeting and TSX.V approval.
Proceeds from the issuance of the securities from Tranche 1 will be used for repayment of liabilities, for general and administrative expenses and to provide the Company with a working capital reserve. The securities issued in Tranche 1 are subject to a four month hold period expiring on February 27, 2011.
Tranche 2 of the capital raising for gross proceeds of $1.5 million to the Company will consist of 25 million shares at 6 cents per share as follows:
1. Brooklyn ? 22.5 million shares
2. GSI ? 2.5 million shares
Each share to be issued under Tranche 2 has an attached one-fifth of one warrant, each whole warrant exercisable at 10 cents up to 36 months from the issue date. Tranche 2 is subject to Brooklyn and GSI conducting satisfactory due diligence by October 29, 2010 and the Company obtaining TSX.V and shareholder approval.
The Company is also pleased to announce the appointment of Brett James Hodgins and Richard Homsany to the Board of Directors, nominees of GSI and Brooklyn, respectively. The appointment of Mr. Hodgins and Mr. Homsany to the Board is subject to re-election at the Annual General Meeting and TSX.V approval.
Proceeds from the issuance of the securities from Tranche 1 will be used for repayment of liabilities, for general and administrative expenses and to provide the Company with a working capital reserve. The securities issued in Tranche 1 are subject to a four month hold period expiring on February 27, 2011.
Tranche 2 of the capital raising for gross proceeds of $1.5 million to the Company will consist of 25 million shares at 6 cents per share as follows:
1. Brooklyn ? 22.5 million shares
2. GSI ? 2.5 million shares
Each share to be issued under Tranche 2 has an attached one-fifth of one warrant, each whole warrant exercisable at 10 cents up to 36 months from the issue date. Tranche 2 is subject to Brooklyn and GSI conducting satisfactory due diligence by October 29, 2010 and the Company obtaining TSX.V and shareholder approval.
10.43
Index Commodity Iron Ore Prices Top Five Month
Written By mine on Selasa, 19 Oktober 2010 | 10.43
Iron ore commodity prices rose for an eight consecutive session to their highest in nearly five months, marking their longest winning streak since March on strong Chinese demand. Iron ore price gains have been driven by Chinese mills stockpiling. Chinese steelmakers have resumed buying supplies as government-enforced curbs on production eased and mills stockpile iron ore ahead of winter.
Iron ore commodity forward swaps market eased, with prices for fourth-quarter contracts dropping, ending four sessions of gains.
Singapore Exchange-cleared October contract SGXIOc1 slipped 50 cents to $148 a tonne. The November contract SGXIOc2 fell $1.87 to $147.88 and December SGXIOc3 dropped more than $2 to $146.63.
But the surge in commodity iron ore prices coincides with falling steel rebar futures in Shanghai SRBc8, suggesting market players may soon put the brakes on the iron ore rally given the hazy outlook for steel demand, with China bent on taming its red-hot property market.
The recent rises in commodity of iron ore prices, we think, will be short lived, commodity analyst at Standard Chartered Bank.
Industry data showed crude steel output in China, the world?s biggest producer, fell to about 48.54 million tonnes in September from 51.64 million tonnes in August after Beijing curbed production to meet a year-end energy efficiency target.
It marked the eighth consecutive session of gains for the index, matching the length of a rally in early March which eventually led to its rise to a two-year high near $185 on April 23.
Offers for imported ore in China with 63-63.5 percent iron content were steady at $157-$159 C&F on Friday, said Chinese industry consultant Mysteel, although most traders had heard bids and deals upwards of $160.
The TSI benchmark has risen 5 percent so far this week, and has bounced 30 percent from 6-1/2-month lows touched in July, thanks to a pickup in Chinese buying after weeks of a lull in demand.
?We are holding off procurement for the moment until the dust settles as iron ore prices have risen too fast in too short a time,? said an iron ore trader in Shanghai.
?Some of our customers have begun to take a more cautious attitude and we are receiving fewer enquiries.?
Standard Chartered?s Zhu said she expects the index?s rise to be capped at $160 a tonne.
Highlighting the uncertain demand outlook, Chinese industry leader Baoshan Iron & Steel Co Ltd. and third-ranked Wuhan Iron & Steel have kept their key steel product prices steady for November.
Rising prices will likely see Vale, Rio Tinto and BHP Billiton, the world?s three biggest iron ore producers, lifting contract prices for the first quarter of 2011 after cutting them by at least 10 percent in the current quarter.
Iron ore commodity forward swaps market eased, with prices for fourth-quarter contracts dropping, ending four sessions of gains.
Singapore Exchange-cleared October contract SGXIOc1 slipped 50 cents to $148 a tonne. The November contract SGXIOc2 fell $1.87 to $147.88 and December SGXIOc3 dropped more than $2 to $146.63.
But the surge in commodity iron ore prices coincides with falling steel rebar futures in Shanghai SRBc8, suggesting market players may soon put the brakes on the iron ore rally given the hazy outlook for steel demand, with China bent on taming its red-hot property market.
The recent rises in commodity of iron ore prices, we think, will be short lived, commodity analyst at Standard Chartered Bank.
Industry data showed crude steel output in China, the world?s biggest producer, fell to about 48.54 million tonnes in September from 51.64 million tonnes in August after Beijing curbed production to meet a year-end energy efficiency target.
It marked the eighth consecutive session of gains for the index, matching the length of a rally in early March which eventually led to its rise to a two-year high near $185 on April 23.
Offers for imported ore in China with 63-63.5 percent iron content were steady at $157-$159 C&F on Friday, said Chinese industry consultant Mysteel, although most traders had heard bids and deals upwards of $160.
The TSI benchmark has risen 5 percent so far this week, and has bounced 30 percent from 6-1/2-month lows touched in July, thanks to a pickup in Chinese buying after weeks of a lull in demand.
?We are holding off procurement for the moment until the dust settles as iron ore prices have risen too fast in too short a time,? said an iron ore trader in Shanghai.
?Some of our customers have begun to take a more cautious attitude and we are receiving fewer enquiries.?
Standard Chartered?s Zhu said she expects the index?s rise to be capped at $160 a tonne.
Highlighting the uncertain demand outlook, Chinese industry leader Baoshan Iron & Steel Co Ltd. and third-ranked Wuhan Iron & Steel have kept their key steel product prices steady for November.
Rising prices will likely see Vale, Rio Tinto and BHP Billiton, the world?s three biggest iron ore producers, lifting contract prices for the first quarter of 2011 after cutting them by at least 10 percent in the current quarter.
01.34
Iron Oxide Copper Gold Property Start Drilling by KAT
Written By mine on Kamis, 07 Oktober 2010 | 01.34
KAT Exploration is pleased to announced that its shareholders and the investment community that the company is now ready to begin drilling on its 100% wholly owned Rusty Ridge Iron Oxide Copper Gold (IOCG) property. Cabo Drilling (Atlantic) Corp. was awarded the drilling contract. As previously announced, all permits are in place and drilling is slated to begin the week of Oct 11th 2010.
Due to the effects of Hurricane Igor, many parts of the province received widespread damage as did the access roads to the Rusty Ridge drill sites. However, repairs to these roads are nearly complete and accessibility will be restored within a few more days.
Selected coincident gravity, magnetic and IP anomalies, including the large gravity anomaly, will now be drill tested to determine the significance of these targets.
KAT Exploration Inc or Kat Gold Holdings Corp would like to invite its shareholders and public alike to the Newfoundland and Labrador Mineral Resources Review 2010 from November 4-6, 2010 at Delta, St. John's Hotel & Conference Centre, St. John's, NL.
KAT Exploration Inc / Kat Gold Holdings Corp, will exhibit a display of rocks along with core samples from its Handcamp property and updates on its future projects.
Due to the effects of Hurricane Igor, many parts of the province received widespread damage as did the access roads to the Rusty Ridge drill sites. However, repairs to these roads are nearly complete and accessibility will be restored within a few more days.
Selected coincident gravity, magnetic and IP anomalies, including the large gravity anomaly, will now be drill tested to determine the significance of these targets.
KAT Exploration Inc or Kat Gold Holdings Corp would like to invite its shareholders and public alike to the Newfoundland and Labrador Mineral Resources Review 2010 from November 4-6, 2010 at Delta, St. John's Hotel & Conference Centre, St. John's, NL.
KAT Exploration Inc / Kat Gold Holdings Corp, will exhibit a display of rocks along with core samples from its Handcamp property and updates on its future projects.