Vale SA, the world’s biggest iron- ore producer, said second-quarter profit slipped 84 percent after the global economic crisis curbed demand and prices for the steelmaking raw material. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News Global commodity demand appears to be bouncing back. Miners, who had been savagely affected by the recession as customers slammed the brakes on spending and relied on the backlogs in their warehouses, are also reporting a pick-up. Steadily rising prices for key commodities such as copper and [...]
World number one steelmaker ArcelorMittal is suspending development of its Faleme iron ore project in Senegal as a result of the global economic slump. For full story, click here
ICAP Plc. has declared that it has launched a new brokering service for global iron ore derivatives, offering market participants the ability to offset risk exposure in the base metal. Paul Newman, Managing Director of ICAP Energy Ltd., stated: By combining ICAP’s voice brokering expertise with its global electronic footprint we are well placed to [...]
Global iron ore trade, which is dominated by companies like BHP and Rio Tinto and Vale of Brazil, is poised to see radical new price trends in 2009, thanks to output cuts and volatile market conditions in the last few months. For full story, click here
Global miners and steel firms are locked in annual talks to settle iron ore term prices for the year starting April 1st and analysts are lowering their price forecasts as a dwindling global economy is set to cut steel output sharply. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
By Kishori Krishnan Exclusive To Iron Investing News The closure of major steel operations in the Hamilton area are set to reverberate around the economy, potentially affecting everyone from iron ore producers in Quebec and Labrador to coal companies in Western Canada. Pittsburgh-based United States Steel Corp. has said it will indefinitely idle operations at [...]
By Kishori Krishnan Exclusive To Iron Investing News Ahead of contract talks, iron-ore miners are seeking a price rise. On the horizon is a firmer demand in China, which has ensured that despite concerns about the length and depth of the global recession, iron ore miners are pushing for as much as a 5 per [...]
By Melissa Pistilli – Exclusive to Iron Investing News On March 14 this year, the Government of India-owned mining firm National Mineral Development Corporation (NMDC) had issued a call for global partners to buy overseas mines. Mining giant Rio Tinto, also actively seeking to expand its iron ore resources, answered the call and both are set to [...]
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