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Wuhan Steel Group Seeks More Iron Ore Assets Overseas
Wuhan Iron & Steel Group, China’s third-biggest steelmaker, is seeking to invest in more overseas iron ore assets to cut reliance on expensive imports, General Manager Deng Qilin said.
“We aim to be self-sufficient in iron ore supplies in three to five years and reduce purchases,” Deng, who’s also chairman of the China Iron & Steel [...]
Iron-Ore Price Increase 2010 Estimated To Reach 50 Percent
CRU Strategies Consultants predict Phil Newman iron ore prices in 2010 reached 50% compared with 2009. At the session Prospectors and Developers Association of Canada convention in Toronto, an estimated iron-ore prices rose between 50% and 75% higher.
Russian Companies Interest Find New Oil and Gas Fields
Against the background of difficult international energy market conditions Russian companies have become less interested in finding new oil and gas fields and developing existing deposits. Notably, the country’s gas monopoly Gazprom dropped its earlier plans to take over a giant Kovykta deposit and has postponed the development of yet another huge project, Shtokman.
Cash Prices of Iron Ore Delivered to China Rises
The cash price of iron ore delivered to China, the world’s biggest buyer, rose to the highest in more than a year on demand from the nation’s steelmakers.
The cost of 62 percent iron-content ore delivered to the port of Tianjin increased 1.4 percent to $133.10 a metric tonne on Mar 1, the highest in at [...]
Iron Ore Price in China Market Uncertainty
Iron ore price in China market faces an uncertain condition, because the results of negotiations China Iron and Steel Association with iron ore mining company did not give the results of determination of iron ore prices for 2010. China is the biggest consumer of iron ore, as China has a steel plant enough.
CSN Plans to Export 37 Million Tons of Iron Ore for Steel Production Increase In 2010
Cia Siderurgica Nacional SA, Brazil’s third-largest steelmaker, said fourth-quarter profit fell 81 percent because a year-earlier gain wasn’t repeated. Shares rose after earnings beat expectations.
Net income fell to 745.4 million reais ($408.7 million) from 3.94 billion reais in the year-earlier period, CSN said yesterday. Earnings per share of 1.02 reais beat the mean estimate of [...]
China Steel Company Leadership to Prepare Talks Contract Iron Ore Prices
China steel company leadership prepared to have a meeting with the mining company’s largest iron ore supplier to determine the contract price of iron ore in 2010. Discussion planned in April 2010. However, from both sides – producers of iron ore and steel companies – have delivered their desire for change in contract iron ore [...]
BHP Billiton Committed To Sell Iron Ore Using Spot Prices
Analysis released by BHP Billiton said that the increase in iron ore spot prices due to increased iron ore demand from steel industry in China. Iron ore prices are in a strong rebound conditions. BHP Billiton to see the changes China’s steel production levels could control the price of iron ore in the spot market. [...]
Shares of Iron Ore Exporter, Rio Tinto and Fortescue Fell
Changes in trade shares of mining companies experienced a sharp decline after the fall of commodity prices since August 2009. Shares of mining companies reported and the largest exporter of iron ore, Rio Tinto fell 5 percent to A $ 66.60 on the Australian stock exchange. Fortescue Metals slumped 5.5 percent to reach.
