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Platts Assessed The Weekly 62.5%-Fe Spot Lump Premium at $0.09/Dmtu CFR North China

May 23, 2014

Miner Rio Tinto is to change the basis for the iron ore lump premium in its quarterly iron ore term contracts with Chinese mills to one based on a monthly average of weekly Platts spot lump assessments, from a fixed premium level set on a ...

Tags: Iron Ore, Rio Tinto

Pan American Silver Believes Argentina Will Lift Its Ban on Open-Pit Mining

May 23, 2014

Canadian miner Pan American Silver believes Argentina this year will lift its ban on open-pit mining that forced the company to suspend operations at its Navidad gold project, CEO Geoff Burns said Wednesday. The Vancouver-based company, ...

Tags: Pan American, Silver

Norilsk Nickel Sells Its Avalon and Cawse Nickel Assets in Western Australia

May 23, 2014

Norilsk Nickel is to sell its Avalon and Cawse nickel assets in western Australia to Wingstar Investments, the Russian producer said Wednesday. "The assets encompass the Avalon (formerly Bulong) nickel laterite deposit and processing ...

Tags: nickel, Norilsk Nickel

Europe May Remain a Net Importer of Caustic Soda as Capacity Is Threatened by The EU

May 23, 2014

Europe is likely to remain a net importer of caustic soda as capacity is threatened by the EU's 2017 deadline to make the costly switch to greener technology, Michael Trager, CEO of German PVC producer Vestolit, said this week. "In the ...

Tags: Caustic Soda, chlorine

Peabody Said Production Operations at Viking Mine Have Been Finalized

May 23, 2014

Peabody Energy has closed its Viking surface coal mine in Daviess County, Indiana, several months after the mine had been expected to cease operations because its reserves of high-sulfur steam coal were running out. "Production operations ...

Tags: Peabody, Surface Coal

June US Butadiene Contract Prices Are Expected to Roll Over as Spot Levels Have Dropped

May 23, 2014

June US butadiene contract prices are expected to roll over or possibly fall slightly compared with May contract prices as spot levels have dropped throughout May, sources said Wednesday. Many sources expect a rollover in contract pricing ...

Tags: Butadiene, contract price

CPC Will Postpone Supply of 380 CST Grade Bunker Fuel at Taichung Port

May 22, 2014

Taiwan's state-owned CPC will suspend supply of 380 CST grade bunker fuel at Taichung port, on Taiwan's west coast, from May 21 for two and a half months as one of its barges will undergo maintenance, a company source said Monday. The ...

Tags: Bunker Fuel, CPC

Afren Planned to Begin Further Development Drilling at Its Nigerian Offshore Oil Fields

May 22, 2014

UK-listed independent producer Afren Tuesday said it planned to begin further development drilling at its Nigerian offshore Ebok, Okwok and Okoro oil fields in the third quarter in a bid to bolster oil reserves and production. ...

Tags: oil production

Implats Said Refined Platinum Output in The January-March Quarter Fell 40% to 205,000 Oz

May 21, 2014

South African platinum miner Implats said Friday gross refined platinum output in the January-March quarter fell 40% to 205,000 oz, hit by ongoing strike action. The company's "good start to the financial year was severely impacted in the ...

Tags: Platinum, platinum miner

US Service Centers Shipped 139,500 Mt of Aluminum Products in April, up 9.8%

May 21, 2014

US service centers shipped 139,500 mt of aluminum products in April, up 9.8% compared with the same month in 2013, the Metals Service Center Institute said Friday. Shipments in the first four months of 2014 stood at 533,600 mt, up 10.1% ...

Tags: Aluminum Shipments, aluminum products

MEGlobal Has Rolled Over Its June North American Benchmark for Monoethylene Glycol

May 21, 2014

MEGlobal has rolled over its June North American benchmark for monoethylene glycol at 51 cents/lb, multiple market sources said Friday. The company said earlier this week that its June Asia contract price would decline $20 to $1,080/mt ...

Tags: PET makers, DEG prices

Indonesian Thermal Coal Prices Were Steady Amid Reduced Production and Weak Demand

May 21, 2014

Indonesian thermal coal prices were steady Friday amid reduced production and weak demand from China and India, sources said. "Demand has been flat. There has been no real movement," an Indonesia-based trader said. A Singapore-based ...

Tags: Thermal Coal, Flat Demand

Korea Marker for July Began Trading at $13.625/MMBtu on Friday

May 21, 2014

The Platts LNG Japan Korea Marker for July, the newly assessed front month, began trading at $13.625/MMBtu on Friday. The marker for June fell 32.5 cents from last Friday to close at $13.625/MMBtu on Thursday amid ample supply and weak ...

Tags: LNG, Weak Demand

The Platts Australian Alumina Assessment Fell 50 Cents/Mt to $315.50/Mt

May 21, 2014

The Platts Australian alumina assessment fell 50 cents/mt from Friday to $315.50/mt FOB Monday, weighed down by supply overhang, tight cash flows and lack of buyers. Alumina bid/ask levels were around $310-312/mt against $316/mt FOB ...

Tags: alumina, Australian-origin cargoes

OPEC Would Need to Boost Its Output in Q3 by Some 900,000 B/D to Meet Rising Demand

May 19, 2014

The International Energy Agency said Thursday OPEC would need to boost its output in the third quarter by some 900,000 b/d from April's level to meet rising global demand, and warned that OECD oil stocks remained tight by historical ...

Tags: OPEC, oil supply

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