Thursday, 15 December 2011
The International Energy Agency (IEA) has stated that in the next five years coal prices in the Chinese market will impact the global coal market.
In its statement, the IEA said, "Coal is the most important source for generation of electricity. The Chinese market is the biggest consumer of coal, with its demand accounting for over half of global coal demand." The IEA went on to say that in the coming five years (2012-16) any major development or decision in the Chinese market would be expected to have a significant influence on the global coal market and on electricity charges.
Tags: coking coal , raw mat , China , Far East , steel futures , steelmaking , mining , East Asia and Pacific
Sourced:steelorbis
Showing posts with label global demand. Show all posts
Showing posts with label global demand. Show all posts
Thursday, December 15, 2011
Friday, February 25, 2011
Vale makes industry's biggest profit, firm earned $17.3B US in 2010
Feb 25, 2011 10:55 AM ET by CBC News
Shares of Vale — the world's biggest iron ore producer, with a large presence in Canada — rose Friday, a day after reporting record earnings.
Stock in Rio de Janeiro-based Vale gained 49 cents, or 1.4 per cent, to $34.70 US at mid-morning on the New York Stock Exchange.
The firm reported annual net income Thursday of $17.3 billion US, or $3.25 a share, on operating revenue of $46.5 billion.
That compared with a profit of $9.2 billion in 2009, on revenue of $23.9 billion.
"Net earnings for 2010 were the greatest ever in the mining industry," the firm said in a release.
"We are living through our best days," said CEO Roger Agnelli.
"However, given the size and quality of our pipeline of growth projects amid a scenario of sustained global demand growth for our products, I strongly believe that even better days are ahead of us."
Growing demand from emerging markets for iron ore for steelmaking have pushed prices to about $190 US a tonne, a more than three-fold increase in just one year.
Vale produces nickel and copper at Voisey's Bay in Newfoundland and Labrador, Thompson, Manitoba and Sudbury, Ontario, although in November it announced plans to close its smelter and refinery in Thompson by 2015, with the loss of 500 jobs. It also has a potash exploration project underway in Saskatchewan that is due to start up in 2015.
Tags: emerging market, steelmaking, share gained, net income up, net profit
Stock in Rio de Janeiro-based Vale gained 49 cents, or 1.4 per cent, to $34.70 US at mid-morning on the New York Stock Exchange.
The firm reported annual net income Thursday of $17.3 billion US, or $3.25 a share, on operating revenue of $46.5 billion.
That compared with a profit of $9.2 billion in 2009, on revenue of $23.9 billion.
"Net earnings for 2010 were the greatest ever in the mining industry," the firm said in a release.
"We are living through our best days," said CEO Roger Agnelli.
"However, given the size and quality of our pipeline of growth projects amid a scenario of sustained global demand growth for our products, I strongly believe that even better days are ahead of us."
Growing demand from emerging markets for iron ore for steelmaking have pushed prices to about $190 US a tonne, a more than three-fold increase in just one year.
Vale produces nickel and copper at Voisey's Bay in Newfoundland and Labrador, Thompson, Manitoba and Sudbury, Ontario, although in November it announced plans to close its smelter and refinery in Thompson by 2015, with the loss of 500 jobs. It also has a potash exploration project underway in Saskatchewan that is due to start up in 2015.
Tags: emerging market, steelmaking, share gained, net income up, net profit
Saturday, February 19, 2011
TATA Steel expects steel prices to rise in near terms
Saturday, 19 Feb 2011
TATA Steel sees a sure in steel prices on surging prices of raw materials.
Mr B Muthuraman VC of TATA Steel said that global steel prices will likely rise in the near term, driven by both higher costs and a steady improvement in global demand.
He added that "It is difficult to predict steel prices, but the way raw material prices are rising, steel prices are bound to follow."
(Sourced:dowjones)
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