Tag Archives: Rio Tinto

Iron ore tumbles as China slows

Michael Sainsbury Tightening credit conditions in China, high steel inventories and surging supply on March 10 triggered iron ore’s biggest one-day fall in more than three years. Big ore producers, including Rio Tinto and BHP Billiton, brushed aside concerns about slowing demand from China, dismissing the decline in prices as temporary. Chinese steel industry representatives, however,

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Aluminum volatility snares Asian buyers

  Michael Sainsbury Manufacturers across Asia are being hit by surging aluminum prices, as smelter closures around the world and an overhang of more than 5 million tons of the metal stashed in warehouses continue to play havoc with the market. Unlike many other commodities, traded aluminum carries an inbuilt premium, which is expected to

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Falling iron ore prices a new years gift for struggling mills.

Michael Sainsbury Iron prices are continuing their new year slide, touching six month lows of $123 per tonne last week, confounding analysts who are used to prices spiking before the Chinese New Year. Stockpiles at Chinese ports have soared past 90 million tonnes at the last count yesterday at 92 million tonnes was the highest

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Chinalco, Rio Tinto Plan Mining Joint Venture in China

Zhao Jianfei, Caixin  Australian mining giant Rio Tinto and the Aluminum Corporation of China (Chinalco) are on the final stages of negotiations of a domestic mining joint venture in China, according to Ian Bauert, Rio Tinto’s managing director in China. In December 2010, Rio Tinto and Chinalco signed a memorandum of understanding in Beijing to form

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