December 2010

(AMM) Moly Mines ships first cargo of Australian iron ore to China

Moly Mines Ltd. has shipped the first 54,500 tonnes of iron ore from its Spinifex Ridge iron ore project in Western Australia to China.

(AMM) Arcelor extends Baffinland deadline but doesn't raise offer

Steelmaker ArcelorMittal SA has extended the deadline on its bid for iron ore miner Baffinland Iron Mines Corp. to Jan. 10, but has not raised its offering price.

***REVISITED: One small change

Steelmakers should brace themselves for more upheaval in the way their raw materials are priced.

Spot iron ore prices unmoved at $175-177 cfr

Spot prices for 63.5% Fe Indian fines remained at $175-177 per tonne cfr main Chinese ports on Thursday, with most market participants still on the sidelines.

(AMM) Canadian iron ore shipments to resume on repaired rail line

A rail line on Quebec's North Shore damaged by heavy rains earlier this month, disrupting the transport of iron ore from local mines, has been repaired.

***REVISITED — Mission: Control

2010 was not a big year for steel mergers and acquisitions. Many company valuations sank to all-time lows, so most businesses battened down the hatches and concentrated on the fight to survive in a volatile market. But the Ukrainian steelmaking sector was one glaring exception.

Spot iron ore prices steady at $175-177/T

Spot iron ore prices held at $175-177 per tonne cfr on Tuesday, and are expected to remain stable until the end of the year.

***NOTES FROM 2010: New wave – the game starts to change

Things are looking up for the steel industry. But as mills emerge blinking from the dark days of recession, they face a different world.

***CHINA STEEL WRAP: SHFE rebar falls as Beijing's car controls spook commodities markets

Shanghai Futures Exchange rebar prices fell in line with other Chinese commodities markets on Friday, after Beijing unveiled plans to slap strict controls on the car market in the capital.

Fatal accident forces FMG to suspend Cloudbreak operations

Fortescue Metals Group has suspended operations at its Cloudbreak mine after a worker was killed in an accident.