Iron ore & coking coal

Usiminas sticks to 29m tpy iron ore target
May 24, 2012 - 18:27 GMT
Mineração Usiminas, the mining arm of Brazil’s flat steel producer Usiminas, is sticking to its 29 million-tpy iron ore expansion target for 2015, the company told Metal Bulletin.
IRON ORE DERIVATIVES WRAP: Volumes fall as index edges up
May 24, 2012 - 17:15 GMT
Iron ore swaps volumes dropped after a run of busy trading days, with one 100,0000tonne trade making up the bulk of business, brokers told Metal Bulletin on Thursday May 24.
Vale in talks with Asian ports on Valemax unloading
May 23, 2012 - 16:35 GMT
Vale has been in talks with several ports in Asia that might soon be able to start receiving the miner’s 400,000-tonne Valemax vessels, which are still forbidden to unload in China.
Spot 63.5% Fe iron ore prices hold steady, further falls expected
May 23, 2012 - 09:27 GMT
China's imported iron ore market remained slack on Wednesday May 23 as sentiment was sapped further by lower steel prices.
Vale paid only $500m of $2.5bn deal for Simandou assets
May 23, 2012 - 09:06 GMT
Vale has paid only $500 million out of the $2.5 billion all-cash transaction it signed in 2010 to acquire 51% of BSG Resources (BSGR)’s iron ore assets in Simandou, Guinea.

Iron ore & coking coal

May 24, 2012 18:27 Usiminas sticks to 29m tpy iron ore target
May 24, 2012 17:15 IRON ORE DERIVATIVES WRAP: Volumes fall as index edges up
May 24, 2012 15:28 MMTC extends iron ore contracts with Japan, South Korea mills
May 24, 2012 12:44 Bellzone’s first Forecariah ore shipment not expected until Q3
May 24, 2012 12:42 Severstal resources division sales down 9% in Q1
May 24, 2012 12:37 Tata increases 2012 Northern Iron offtake deal to 1.77m tonnes
May 24, 2012 11:54 Vale’s iron ore distribution centre in Malaysia to start operating in 2014
May 24, 2012 11:48 Spot 63.5% Fe iron ore prices fall to $137-138 cfr
May 24, 2012 11:01 CHINA STEEL WRAP: Spot rebar prices down on market weakness
May 24, 2012 10:00 Rio Tinto may expand global iron ore output to 450m tpy by 2016
May 24, 2012 08:30 Vetria reaffirms port solution for 27.5m tpy iron ore project
May 24, 2012 06:55 Hanlong’s acquisition of Sundance delayed until November
May 24, 2012 03:47 BC Iron realises 5m tpy output level
May 24, 2012 02:18 Rail strike halts freight shipments in Canada
May 24, 2012 00:32 LIM gets early start sending year’s first shipment to China

[more]

Ores & Alloys

May 23, 2012 14:43 Chinese tungsten ore output drops 8% in April
May 23, 2012 00:47 Temco restart may crimp US manganese alloy tags
May 22, 2012 08:44 Baosteel raises ferro-chrome prices for June
May 22, 2012 06:17 BHP decides Temco manganese plant is still viable
May 21, 2012 11:03 China’s ferro-chrome imports drop almost one-third in April
May 19, 2012 21:22 US ferrosilicon prices tumble on aggressive selling
May 19, 2012 20:58 US moly prices weaken on supplier nervousness

[more]

Ferrous Scrap

May 25, 2012 02:50 US East Coast scrap prices fall again at docks
May 24, 2012 14:50 DAILY SCRAP REPORT: Small Black Sea buyers sell off cargoes
May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 00:35 US recyclers facing bankruptcy filings
May 23, 2012 00:31 SA Recycling dismisses Calif. closure rumors

[more]

Comment & Analysis

COMMENT: Keep calm and carry on?

The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?
COMMENT – ASIA MINING CONGRESS: Is Australia losing its edge as a mining destination?

The audience went missing during the Australian session of the Asia Mining Congress on Tuesday March 27 – possibly an indication that the country is losing its attractiveness to investors.
COMMENT: Resource nationalism gains new traction as states look for prosperity

Resource nationalism may not be as old as mining itself — the ancient Britons were in no position to debate royalty rates on gold, silver, lead and tin with the Romans — but it has been with us since the development of modern nation-states.

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Poll of the week

To what extent has the handling of the MF Global bankruptcy, UBS’ rogue trading scandal and now JP Morgan’s harpooning of the London Whale damaged your confidence in the City as a global financial hub?

Not at all – these events could have happened anywhere
Slightly – large losses and the slow recovery of client cash suggest the regulatory framework could be stronger
Moderately – These events show global banks are using London to take risks they couldn’t take anywhere else
Drastically – I’ll be in Singapore by the end of the week