mineral exploration project – commodity prices – mining stock- trade and market

Iron ore production fell last year for the first time in seven years but continuing demand for the raw material from the Chinese steel industry ensured that the volume of trade increased again, a United Nations report released today says.

Global production dropped by 6.2 per cent to 1.588 billion tons, according to the report published by the UN Conference on Trade and Development (UNCTAD) in cooperation with the Sweden-based Raw Materials Group.

Iron ore mining company BHP Billiton is the world’s largest company and the world’s largest steel maker ArcelorMittal in talks...

Companies India’s largest steel maker, Tata Steel and SAIL submitted proposals to the government of India to obtain allocation of coal mines Coal India Ltd’s (CIL). Efforts to get the coal mines run by small for the anticipated increase in coal material procurement costs, especially coking coal, for energy in steel production process.

Steel demand from car manufacturers and steel equipment, steel production resulting from China’s steel manufacturers to increase. Increased steel production affect the demand for iron ore imports into China. Increased imports of iron ore in the last month by 12 percent.

Increased demand for iron ore by steel manufacturers to anticipate the increase in iron ore prices next year, because the expected global economic recovery.

Steelmaker largest company’s, Tata Steel, Posco and BaoSteel against joint venture from iron ore mining company Rio Tinto and BHP Billiton. Steel manufacturers expect the joint venture of the two iron ore mining companies (Rio and BHP) will allow both companies to control the supply of iron ore and iron ore prices.

World Steel Association, which represents nearly all major steelmaker, said this week that the European Union rejected the proposed joint venture.

The country’s biggest producer, Tata Steel Ltd, turned to a bigger than expected second quarter loss because of lower prices and production at its European unit Corus Group Ltd. The shares declined.The group’s net loss was Rs2,710 crore in the three months ended 30 September, compared with a profit of Rs4,770 crore a year earlier, the Mumbai-based company said on Thursday in a statement. Sales fell 43% to Rs25,270 crore.Corus, which provides more than two-thirds of Tata Steel’s output, cut production from the year-earlier period after orders from global automobile makers and...