"When yearly contracts were made in February at an 86% increase on last year’s prices, China’s steel producers gulped so hard they nearly swallowed their own teeth. But that wasn’t the end of it. Both Rio Tinto and BHP renegotiated their contracts for even higher prices this summer. And now its big brother’s turn." — [...]
Tags: australia, bhp, billiton, brazil, china, companhia, doce, iron ore, rio, RTP, souther systems fines, steelmakers, tinto, ton, vale
"The worst rout in the history of commodities may be ending, signaling a replay of the 2006 tumble that preceded a doubling of prices in the next 17 months." — Madelene Pearson, Bloomberg News
Blogger’s note: Depending on which camp you belong to, the recent dip in prices either means the commodities supercycle [...]
Tags: bernanke, bhp, boom, bust, china, Commodities, dominican republic, gsci, index, India, inflation, nestle, nickel, oil, standard & poor's, supercycle, trichet, Xstrata
“Anyone who thinks China’s insatiable hunger for metals is going to subside any time soon need think again. On Monday it was announced that Chinese steelmakers have agreed to a new contract with Rio Tinto (RTP:NYSE) for the price of iron ore, which saw a 96.5% rise on last year.” — Dominic [...]
Tags: bhp, billiton, china, coal, futures market, iron ore, oil, Rio Tinto, RTP, speculators, steel, vale
"After naming Merrill Lynch CEO Stan O’Neal (yes, that Stan O’Neal, the one who was forced to step down after revealing $8.4 billion in mortgage writedowns for the investment firm last fall) to its board, Alcoa and Chinese competitor Aluminum Corporation of China, or Chalco, as it’s known, bought a 9% stake (12% [...]
Tags: aa, ach, alcoa, aluminum, bhp, billiton, chalco, commodities trading, corporation of china, doj, justice department, Rio Tinto, RTP, steel, stephanie grimmett
"BHP claims Rio will get back that lost value in cost savings and the reduction of competition after the merger. But Rio Tinto counters that BHP is just being cheap and possibly overvaluing its own power in the market." — Stephanie Grimmett
by Stephanie Grimmett
Baltimore – (TFN) Rio Tinto (RTP: NYSE) is getting annoyed with [...]
Tags: bhp, BHP Billiton (BHP: NYSE), buyout, china steelmakers, Commodities, commodities supercycle, deadline, europe steelmakers, Great Britain, Merger, put up or shut up, Rio Tinto (RTP: NYSE), RTP, takeover panel
“We suspect that construction and infrastructure and engineering stocks are going to have a good 2008 with all this spending in the pipeline. And not just in Australia.” — Dan Denning
by Dan Denning, Daily Reckoning Australia and TFN
Blogger’s Note: We saw this piece on the site of the Daily Reckoning Australia. If you don’t believe [...]
Tags: bhp, Bill Bonner, daily reckoning, engineering, finance, Financial, infrastructure, pipeline stocks, Rio Tinto, Saudi Aramco, WorleyParsons
“This superior technology has allowed the company to enter every major mining area of the world, including Australia, Russia, South America, Canada, the United States, Africa and the Middle East. Because of its strong presence in Australia, and its acquisition of Australia’s STACE Pty. Ltd. a year ago, this company is at the top of [...]