Dow Jones reported that Sesa Goa Ltd has expects iron ore prices to stabilize on improved demand from China after falling to rock bottom levels last year. Mr PK Mukherjee MD of Sesa Goa said: Spot market iron ore prices over the last couple of months have gone up by USD 10 per tonne to [...]
Read the full article: "Sesa Goa expects iron ore spot prices to..."
Friday, January 30, 2009
Iron ore prices are likely to decline by 15-20 per cent this year on falling demand from global steel producers because of production cut, according to the latest Fitch Ratings report. For full story, click here
Read the full article: "Iron ore price may decline 20% in 2009"
Thursday, January 29, 2009
Baffinland Iron Mines Corp today udpated investors on 2009 drilling plans and a general corporate update, including an update on the bulk sample sent to European customers. Gordon McCreary, President and CEO is quoted saying: As we emerge from January as a leaner organization with an approved and fully funded budget for 2009, we remain [...]
Read the full article: "Baffinland Updates on Drilling, Bulk Sample"
Thursday, January 29, 2009
Usha Martin Ltd expects cost of steel production to fall to 16,000 rupees per tonne from 27,000 rupees a tonne by the end of February, a top official said. Managing Director Rajeev Jhawar, said: We expect cost of steel production to fall with complete use of expensive raw materials bought earlier. For full story, click [...]
Read the full article: "Usha Martin sees steel production cost..."
Thursday, January 29, 2009
Iron ore prices are set to fall in 2009 after six years of price hikes as deteriorating demand triggers severe production cuts in the steel industry, Macquarie analyst Christina Lee said in a research note: After six consecutive yearly rises totalling almost 400 percent, iron ore prices are certain to fall due to major collapse [...]
Read the full article: "Iron ore prices are set to fall in 2009..."
Tuesday, January 27, 2009
Nippon Steel Corp and other Japanese steelmakers will press for cuts of 40 percent in iron ore prices and 60-70 percent in coal prices for the next business year due to falling costs of natural resources and weakening steel demand,. For full story, click here
Read the full article: "Japan steelmakers seek iron price cuts"
Tuesday, January 27, 2009
Rio Tinto has all but halted its $2.5 billion expansion of the Kitimat smelter. For full story, click here
Read the full article: "Rio suspends its smelter expansion plans"
Tuesday, January 27, 2009
Many existing producers have shut down or curtailed output at mines and plants as high costs and low prices bite. For full story, click here
Read the full article: "Many existing producers either have shut..."
Tuesday, January 27, 2009
Rio Tinto said has shelved a plan to extend its Northparkes mine in Australia as it slashes capital spending. For full story, click here
Read the full article: "Rio Tinto said has shelved a plan to extend..."
Monday, January 26, 2009
China’s ministry of land and resources has approved the application Hebei Iron & Steel Group’s Mining Co filed for the mining right of the south district of Sijiaying iron mine. For full story, click here
Read the full article: "Hebei Group wins mining right in Sijiaying..."
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Friday, January 30, 2009