Countries

Alcoa to kick off reporting season

Alcoa will announce its first-quarter figures on Wednesday 8 April, and the market is expecting a solid start to the new financial year.  IG – Alcoa has made a big recovery since the credit crisis, but is in a stronger position after asset striping, slashing its dividend and restructuring. The largest ...

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Oman: Napco to start production from expanded facility by early 2016

  Oman Times – National Aluminium Products Company (Napco) will commence production from its expanded facilities by the first quarter of 2016. Napco is implementing a major expansion programme to double its extrusion capacity and quadruple powder coating services, the company's chief executive officer Robert Holtkamp told Times of Oman. ...

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Mauritania: Unions end strike at SNIM

  Reuters – Workers at Mauritania's state iron ore mining company SNIM have ended a two-month strike after reaching a deal with management on salaries, a union negotiator said on Friday. After four days of negotiations mediated by the mayor of the northeastern mining hub of Zouerate, where SNIM's mine ...

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Venezuela’s hot briquetted iron export prices slashed by $US 50 per mt

  Platts – Venezuelan hot-briquetted iron export prices this week continued to edge down for April bookings as sellers accepted lower bids and offers fell around $50/mt in line with the international trend, sources said Thursday. A Venezuelan trader said he booked this week around 30,000 mt for $250/mt FOB ...

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BHP and Rio suffer as iron ore hits 10-year low

By: Andrew Critchlow The Telegraph – Iron ore prices have hit a 10-year low, sending shock waves through the global mining industry and prompting concern among analysts that smaller producers could soon be forced out of business. The price of a tonne of ore quoted on the Quingdao China index fell ...

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Iron ore seen sliding to low $US40s in coming weeks

  Sydney Morning Herald – Iron ore, which fell below $US50 a metric tonne on Wednesday, may extend losses as weakening producer currencies cut mining costs, reducing incentives for the supply cuts needed to balance the market, according to Societe Generale. Ore with 62 per cent content at Qingdao continued ...

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Japan says April-June crude steel output to fall to 6-yr low

  Reuters – Japan's crude steel output for April-June is forecast to drop 7.8 percent from a year earlier to the lowest for the quarter in six years, the Ministry of Economy, Trade and Industry (METI) said on Thursday. The fall would mark the latest in a series of signs ...

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Iron-ore extends losing streak as spot hits $49 1ST

Reuters – Spot iron-ore prices tumbled below $50/t on Wednesday while Chinese iron-ore futures dropped a sixth straight session to a contract low on persistent worries that output cuts at steel mills would eat into demand for the raw material. Sluggish steel consumption and soaring environmental costs have combined to force ...

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EUROPE ALUMINUM ALLOY: Availability remains tight, prices inch up

  Platts – Availability of aluminum alloy in the European physical market has stayed tight as demand from consumers — primarily those producing parts for the automotive industry — for April, May and June delivery remains strong. Consumption levels have risen, not just in Germany, but also in markets such ...

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Tata Steel’s Canadian Joint Venture Acquires Howse Iron Ore Deposit

  NDTV – Tata Steel today said its joint venture Tata Steel Minerals Canada has acquired the remaining 49 per cent stake in the Howse iron ore deposit in Canada for close to Rs 25 crore. Tata Steel Minerals Canada Limited (TSMC), through its subsidiary Howse Minerals Limited today acquired the ...

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