The company’s current challenge within its domestic market will be to remain cost competitive if tariffs are eliminated and demand continues to climb, as the Brazilian currency has also demonstrated very strong relative appreciation.
Fortescue Metals Group (ASX: FMG), an Australian iron ore mining company, is calling for other shareholders to share their voices against the super profits tax (SPT). Fortescue chairperson Herb Elliott is quoted saying: “It harms the mining industry and especially Fortescue, and we are urging the government to drop this proposal and to open a [...]
Goldman Sachs JBWere Pty cash prices for iron ore into China will trade at more than the benchmark Asian contract price for at least the next 12 months as demand from steel makers’ rebounds. For full story, click here
Rio Tinto, the world’s third leading mining company, that its iron ore output surged 8 percent in the second quarter and that it expects a recovery in Chinese steel demand in the second half of the year. For full story, click here
Indian iron ore was flat from last week on steady overseas demand, although exporters hope China’s inconclusive talks on benchmark prices will lift prices. For full story, click here
German iron and steel output for June slipped sharply as the world recession continued to cut into demand for the country’s machinery and car exports. For full story, click here
Many a firm has taken a hit as demand beat a hasty retreat ever since the international financial slump washed up at Indian shores in September 2008. The accompanying credit crunch meant that those with cash reserves can now go cherry-picking with a slew of firms available at a relatively lower valuation. For full story, [...]
It is declared that world’s leading mining company BHP Billiton Ltd does not expect a sharp rebound in commodities demand and sees a slow and protracted recovery in the international economy. Mr Marius Kloppers CEO of BHPB declared in Canberra: We do expect to see stabilization in the next three to six months as the [...]
A new $664 million iron ore mine is coming up in Quebec-Labrador late this year and will swiftly hit the target annual output of eight million tonnes destined for Chinese and other Asian steel mills on long-term contract. For full story, click here
As per industry group, China may cut imports of iron ore by about 21% this year as demand from mills dropped. For full story, click here
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