China’s staggering demand for commodities

Story by Jeff Desjardins Courtesy of: Visual Capitalist China’s staggering demand for commodities >50% of all steel, cement, nickel, and copper goes there The Chart of the Week is a weekly Visual Capitalist feature on Fridays. It’s said that in China, a new skyscraper is built every five days. China is building often, and they are building[…]

Moody's bullish on base metals, US steel

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. These are the key conclusions of Moody’s Investor Service, which released a recent report summarizing commentary from analysts at a Jan. 18 teleconference. Probably the most positive aspects of[…]

Russia's Mechel says has enough creditor support for restructure of $1bn loan

Russian coal and steel producer Mechel said that talks with banks on restructuring a $1 billion syndicated loan had concluded successfully. Mechel, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, had circulated the final draft of a restructuring proposal among its creditors last week. It needed the support of[…]

Huge increase in BC exports of met coal this year

In August 2016, exports of metallurgical coal through Prince Rupert’s Ridley Terminals totalled zero. One year later, the Prince Rupert Port Authority reported exports of metallurgical (“met”) coal had increased 1,341% in 2017’s first eight months compared with the same period in 2016: to 2,379,698 tonnes from 165,141. Since November 2016, per-tonne met coal prices[…]

China bought tonnes of North Korean coal

North Korea’s biggest trading partner imported 1.64 million tonnes of coal in August, despite a supposed embargo imposed by Beijing to comply with the UN sanctions aimed at stopping Pyongyang’s nuclear ambitions. According to CNN, even though China announced in February that it would halt all coal shipments from its smaller neighbour through the end[…]

More than 200 workers to go at Sandvik Materials Technology unit

Swedish equipment and tool manufacturer Sandvik Mining (STO:SAND) is letting go 210 white-collar employees at its Materials Technology unit (SMT), located in Sandviken, about 190 km north of Stockholm. The decision comes as tougher competition from Asian suppliers, pressure on prices and a sustained weakness in the oil an gas sector have all hit the business, the[…]

Kumba resumes divvy thanks to stronger iron ore prices in first half

Shares in Kumba Iron Ore (JSE:KIO) rallied Tuesday after the miner announced it would reinstate dividends after a two-year hiatus thanks to stronger prices for the steelmaking ingredient earlier this year. Delivering first-half results, the South Africa-based company noted that more efficient production helped boost earnings in the period earnings by 53%. The miner’s stock shot[…]