Chinese Coal Prices Up Over Safety Crackdown
An accident on February 22 at the Tunlan Coal Mine in Shanxi Province, China's major coal producer, killing 78 workers, seems to have gotten the attention of safety officials. The Shanxi provincial government moved swiftly after the accident and has launched a one-year safe-production campaign, which is already boosting coal prices.
"Big Five" Power Firms Squeezing Coal Prices by Threatening Global Purchasing
The big five, jointly with Zhongneng Electric Power Industry Fuel Company (Zhongneng) and China Resources Power Holdings Company, are planning an overseas coal purchase fair. A source close to the big five said heads of fuel sectors of these companies might form a coordination group and that Zhongneng might then invite bids on behalf of all the companies.
Chinese Steelmakers Can Learn from the Japanese about Overseas Acquisitions
The iron ore mining industry slowdown triggered by the global financial crisis has boosted the enthusiasm for acquisition of Chinese steelmakers, who are also under heavy pressure. Recently Ansteel, Shougang Group, and Wuhan Iron and Steel have each acquired stakes in small and medium mining companies in Australia. Chinese steelmakers like to take over or at least gain controlling stake of Australian mining companies. Sinosteel's hostile takeover of Midwest is an example. However, Chinese firms could learn from the overseas acquisition strategy Japanese steel companies, who have been at it longer and with marked success.
China's Steel Giants Seek Australian Iron Ore Fire Sales
The global financial furor is bringing gloom and glower to much of the world's industry, but the silver lining of opportunity is shining through a bit for China's steel giants over Australia, where they are taking previously unavailable stakes in a slew of small and medium-sized mining companie
Coal Price Plummet Set to Continue, Defying Stimulus Plan
With the steep slowing of the power, steel, and non-ferrous metal industries in China, coal prices dropped sharply in November. Now the price for high-rank power coal has dropped by about 50% from its peak, and the trading volume is falling. The 4 trillion yuan rescue package will not immediately change the shrinking demand, and prices will continue to drop.
As BHP-Rio Deal Dies, Chinese Steelmakers Breathe Easier
Dramatic changes in the iron ore market and opposition from the European Union's competition authorities have forced BHP Billiton to abort its plan to form the world's largest iron ore mining giant with a hostile takeover of it fellow Australian and rival Rio Tint
China's Mining Companies Struggling in Downturn
With major metal prices slumping in both domestic and overseas markets, China's non-ferrous metal industry is facing an unprecedented challenge, with all companies suffering losses in September and October. The situation shows no sign of changing before the end of this year
China Expects Upper-hand in Imminent Iron Ore Haggle
The annual negotiation for the next year's iron ore supply contract will be launched in November. Steel industry representatives from China, Europe, and Japan will meet with the world's three major iron ore mining giants to decide the long-term contract price for 2009.
Iron Ore Game Changes as India Drops Spot, Goes Long-Term
At the moment, when the iron ore business is widely seen as a buyer's market, Chinese steel companies are not directly contradicting the giant Brazilian and Australian suppliers in contract negotiations for long-term iron ore supply in 2009. Their strategy is to gain ground by disrupting the big three's control over Indian spot iron ore prices and sea freight charges.
Vale's Price Demands May Spur China Steel Industry Consolidation
Before the new round of international negotiations on iron prices begins in the new year, the world's largest iron ore producer, Vale, is trying to break China's steelmakers' solidarity, urging some to accept part of its unilateral ore price increases. Its efforts, though, may promote unintended consequences.
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