1. Bloomberg.com: Copper heads for biggest quarterly loss in more than 22 years
Analysts estimate how low copper can go; metal indexes tumbles with a shaky U.S. economy and unclear demand. Copper is expected to take the biggest quarter loss since 1986. Global stockpiles for the metal are dropping, creating a tight balance between supply and [...]
Entries from September 2008
September 30, 2008
Top ten stories for September 30, 2008
September 29, 2008
Top ten stories for September 29, 2008
1. Reuters: China buyers default on India iron ore deals
Chinese buyers are defaulting on import contracts and refusing shipments until Indian sellers agree to lower prices. Despite supply issues with Brazilian iron ore producer Vale, Chinese demand for Indian iron ore has fallen sharply due to the global slowdown. Traditionally, around 75% of India’s iron [...]
September 26, 2008
Top ten stories for September 26, 2008
1. Bloomberg.com: Rio to seek “significant” 2009 iron ore price rise, RBC says
As Rio battles for its independence, analysts expect the company to seek significant iron ore price increases from Asian steelmakers. Last year Rio Tinto and BHP Billiton won record increases up to 97%. Analysts predict Rio to earn more moderate gains around 15% [...]
September 25, 2008
My solution to the financial crisis
Okay, everyone is coming out with solutions, and I do not like most of them. Let me go over a simple solution. We have to fix two things: Freddie and Fannie, and the existing toxic debt. I have a simple solution to both things in one deal.
We create 10 regional banks that are 100% owned [...]
September 25, 2008
Top ten stories for September 25, 2008
1. Bloomberg.com: China steelmakers to use domestic ore as Vale suspends shipment
A representative for the China Iron and Steel Association claims Vale is only shipping iron ore fines with 62% iron content, suspending shipments of higher grade ores. The association believes domestic producers can supply a greater portion of fines, especially in light of a [...]
September 24, 2008
Top ten stories for September 24, 2008
1. Bloomberg.com: BHP, Rio may have to share Australian ore railroads
Higher authority agrees with sharing principle: court upholds ruling in favor of sharing private railroad. The case rejected BHP’s attempt to block Fortescue Metals from using parts of its Mt. Newman and Goldsworthy rail tracks. The shared railways juncture awaits more approval by Australia’s Treasury. [...]
September 23, 2008
Top ten stories for September 23, 2008
1. Bloomberg.com: Vale, BHP iron outlook dimmed by financial crisis, analysts say
The global credit crisis casts a gloomy haze over mining giants’ forecasts. Vale, BHP Billiton, and Rio Tinto are expected to secure smaller price gains in their upcoming contract negotiations as steelmakers cut output predictions. A rough consensus of analysts has cut the estimated [...]
September 22, 2008
Top ten stories for September 22, 2008
1. Guardian: Mining and oil face world tax exposure
Breakthrough public reporting system in initial discussion, and the proposal is being heralded as a means to end alleged corruption. The International Accounting Standards Board is pushing for new regulation requiring oil and mining firms to reveal the exact amounts of tax paid to each country in [...]
