Eurobench.com

voda 15 maart 2015 15:54

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Goa revokes ban on iron ore transportation

IANS reported that 2 days after CM Laxmikant Parsekar gave an assurance on commencement of iron ore mining, which has been banned for the last two-and-a-half years, the district administrations on Friday issued formal orders revoking the ban on iron ore transportation.

Formal orders were issued simultaneously by the district collectors of North Goa and South Goa to revoke the ban on "movement and transportation of all types of iron ore laden vehicles" with immediate effect.

Mining in Goa was stopped both by the state government as well as the central government in 2012 following a INR 35,000 crore illegal mining scam which was unearthed by a judicial commission appointed by the union mines ministry, before the Supreme Court banned all mining activity in the same year.

The ban was eventually lifted last year but mining still could not be restarted because of pending green clearances.

The state government has now sent an interim proposal to the union ministry for environment and forests for quick resumption of mining in Goa, which Mr Parsekar claimed is a lifeline for the state's economy.

According to the Mr Parsekar, mining is expected to resume in a few days' time.

He said that "It won't be a matter of months now, or weeks, but it will be a matter of a few days wherein mining will commence."

Source - IANS

voda 15 maart 2015 15:56

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Pimco warns on China steel as Goldman sees output declining

Bloomberg reported that Pacific Investment Management Company sees little growth potential for steel demand in China as the housing market slows, hurting the outlook for the global industry and iron ore prices. Goldman Sachs Group Inc said that output will drop.

Mr Raja Mukherji, head of Asian credit research said that “The years of huge growth in China’s housing development market are over, spelling tough times over the long-term horizon for global steel making. At best, steel demand in the country may expand in the low single digits this year.”

China grew at the weakest pace since 1990 last year and is set to slow further in 2015. Asia’s largest economy accounts for about half of global steel output and is the biggest buyer of seaborne iron ore, which fell to the lowest price since 2008 this week amid a global glut.

Goldman Sachs forecast that China’s steel production will contract this year, repeating its outlook, while UBS Group AG predicted earlier this week the first drop since the early 1980s.

Mr Andy Ji, an economist at Commonwealth Bank of Australia in Singapore saidnthat “The outlook for China’s steel demand is not expected to improve this year. Given the persistent oversupply in housing, a strong recovery is unlikely.”

The analysts said that we expect downside risks to steel demand to continue to materialize as past housing construction growth rates are unsustainable. While there are other end users of steel including machinery, autos and white goods they are unlikely to propel China’s steel demand.

Mr Jimmy Wilson, head of BHP’s iron ore business said that among those expecting China’s steel production to keep on rising are the largest iron ore miners, including BHP Billiton Limited and Rio Tinto Group. Output will reach 1 billion to 1.1 billion tons by 2025.

Source – Bloomberg

voda 15 maart 2015 15:57

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ILVA Blast Furnace 5 operations turned off

ANSA reported that operations to turn off Blast Furnace 5 at the controversial ILVA steelworks in the southern Italian city of Taranto started and will be completed Friday.

The blast furnace the biggest in Europe, which guaranteed 40% of cast iron production at the plant will be closed for reconstruction work expected to last 12 months.

The ILVA steelworks decided to keep the blast furnace operating until this year despite a court order for immediate shutdown issued in July 2012 to address what prosecutors and judges said was an environmental disaster endangering the lives of local residents and poisoning the environment.

A yet unreported number of workers will be given 'solidarity contracts' working less hours to keep their jobs - in addition to some 1,300 employees at the steelworks who already have this type of contract following the renovation of another four blast furnaces at the plant.

Source - ANSA

voda 15 maart 2015 15:57

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China steel sector eyes bright outlook after rebound in market

According to the latest China Steel Sentiment Index, China's steel market expects a bright outlook this month after the market rebounded dramatically following the Chinese New Year break on hopes of stronger domestic orders.

The index hit a headline reading of 72.2 out of a possible 100 points in March, up 63.4 points from February’s record low of 8.8. The March reading was the strongest since April last year.

The CSSI, compiled by global steel information provider Platts, reflects expectations of market participants for the month ahead. Due to technical reasons the index comes out around the 10th of each month.

Similar to a purchasing managers’ index, a CSSI reading of more than 50 signals an increase and one below 50 indicates a decline.

Mr Paul Bartholomew, Platts’ steel analyst said that “A rebound in sentiment after the Chinese New Year holiday is normal but it was even more dramatic this year as it followed several months of declining orders and weak activity in the Chinese steel market. The index’s reading for crude steel production of 51.4 points indicated the market did not expect any big rise in output this month.”

Mr Bartholomew said that however the market is pessimistic about exports because the removal of export tax rebates on certain alloy steel products at the beginning of this year will begin to have some impact. The monthly Platts CSSI is based on a survey of around 50 to 75 traders, stockists and steel mill operators in China.

Source – Shanghai Daily

voda 15 maart 2015 15:58

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US Steel to adjust production at Keetac plant

United States Steel Corporation announced that it will temporarily idle its Minnesota Ore Operations Keetac plant in Keewatin, Minn., effective May 13. The temporary idling is due to the company's current inventory levels and ongoing adjustment of its steelmaking operations throughout North America to match customer demand.

The company routinely adjusts production at its operating facilities to reflect market fluctuations. These ongoing operational adjustments are a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market, including a high level of imports, unfairly traded products and reduced steel prices, continue to have an impact.

As part of the temporary idling, 412 employees at Keetac have been advised of the upcoming temporary idling and are being issued notices under the Worker Adjustment and Retraining NotificationAct. The number of employees impacted will be based upon operational and, or maintenance needs.

Source – Strategic Research Institute

voda 15 maart 2015 15:58

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Krakatau Steel posted a tenfold increase in losses last year

Argus reported that Indonesian state controlled steelmaker Krakatau Steel posted a tenfold increase in losses last year, driven by fall in product prices and losses at its joint venture with South Korean steelmaker POSCO.

Krakatau posted a loss of USD 149.8 million for 2014 compared with a USD 13.8 million loss in 2013. Sales volumes last year fell by 2pc from a year earlier to 2.32 million tonne. Kratakau accounts for nearly 75pc of Indonesia's total steel output with a 2.45 million tonne oer year capacity.

The joint venture with Posco, which operates a 3 million tonne per year steel mill in Cilegon, was still on a learning curve, Kratakau said, with it posting a loss of USD 71.6 million last year. The plant started operations in December 2013.

Chinese steel exports into southeast Asia pushed flat product prices to USD 460 to USD 470 per tonne cfr in December 2014 from USD 530 per tonne to USD 540 per tonne cfr at the start of the year. The company's sales price of hot-rolled coils fell by 3.1pc against the previous year, while prices of its long products such wire rods and steel bars fell by 6.1pc.

Source – Argus Media

voda 15 maart 2015 15:59

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China steelmakers adapting to new realities

Nikkei reported that Chinese crude steel consumption has started slowing down. Steelmakers in the country and abroad are having to modify their business plans.

According to a February report by China's Ministry of Industry and Information Technology, the country in 2014 produced 820 million tonnes of crude steel, 0.9% more than a year earlier. However, apparent crude steel use has declined to 740 million tonnes, a drop of 4%. It is the first decline in roughly 20 years. Apparent steel use is obtained by subtracting exports from the sum of production and imports.

Mr Eiji Hayashida, chairman of the Japan Iron and Steel Federation and president of JFE Steel, expressed concern about the figures. China's gross domestic product target in 2014 almost cleared the government's target. But conditions in China are bad. There has been no growth in investment.

Chinese steelmakers grew rapidly thanks to the significant expansion of the domestic market. However, a decline in domestic demand is forcing them to change strategies.

The industry ministry expects domestic fixed asset investment growth, an indicator of crude steel demand, to be slower in 2015 than the previous year. This suggests the market will worsen.

A slowing Chinese economy will have the greatest impact on the market for premium steel sheet used in automaking. This type of steel is a specialty of Japanese major blast furnace steelmakers.

Mr Jun Kadota, general manager for sales supervision at the company said that "The capacity utilization rate at the Guangzhou JFE Steel Sheet has been steadily declining. Since launching in 2006, the company had expanded production capacity until it reached 1.8 million tonnes, growth of 350%. Guangzhou JFE Steel Sheet is JV between JFE Steel and Guangzhou Steel Sheets. It makes steel sheet for automobiles.”

Source – Nikkei

voda 15 maart 2015 15:59

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POSCO to soon sign joint venture deal with Saudi fund

Yonhap reported that POSCO of South Korea's largest steelmaker, is expected to sign a business cooperation deal with Public Investment Fund, a sovereign fund of Saudi Arabia, as early as this month at the earliest.

Mr Kwon Oh joon CEO of POSCO said that "We are likely to sign a deal later this month or early next month aimed at setting up a joint venture with the sovereign fund, a project that has been underway to enter the construction market in the Middle East."

POSCO has been pushing comprehensive business tie ups with PIF over a broad range of sectors. PIF is in talks to buy a 40% stake in POSCO Engineering & Construction for about USD 1 billion. The two are reportedly planning to launch a construction firm for a social overhead capital business in Saudi Arabia.

Mr Kwon expressed worries that market conditions aren't likely to improve any time soon given the slowing economic recovery and unfavorable business conditions. He promised to enhance overall business efficiency to produce good results this year.

Source - Yonhap

voda 15 maart 2015 16:00

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Strike threat at TATA Steel Scunthorpe works

A group of workers is threatening to down tools on Scunthorpe's TATA Steel works.

The Scunthorpe steel industry's main trade union Community this week called for a ballot for industrial action among its members employed as cleaners by the contracting firm of OCS Solutions.

Mr Sean Scorer Community lead organiser said that "Our 36 members, most of whom are women, earn GBP 6.50 an hour and are the lowest paid on the site. We have been in negotiation since February last year to bring their pay in line with the national living wage rate of GBP 7.65 per hour. It is understood talks between the two sides broke down due to the uncertainty of the future ownership.”

A spokeswoman for the firm said that "OCS and Community are committed to a positive resolution and are working towards achieving this goal in the coming days. The OCS workers are employed to clean offices and amenity areas on the site and also the air-stream helmets worn by coke oven workers.”

A TATA Steel spokesman said that "We are engaging with OCS to ensure there is no impact on the safety of any worker on the Scunthorpe site or any impact on production."

Source – Scunthorpe Telegraph

voda 15 maart 2015 16:02

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Fire damages Pueblo steel plant

A Pueblo steel plant was damaged by fire early Friday morning.

The Pueblo Fire Department said that passersby reported seeing smoke and flames coming from a building on the Midwest Fabrication & Steel property. Firefighters arrived to find one building fully engulfed, with flames coming from the roof.

Multiple crews spent about six hours battling the fire, which had completely burned through the roof of the light industrial building.

Firefighters said that at least three nearby buildings were threatened, but the fire was successfully contained to one building. One firefighter was injured while responding to the fire. He was taken by ambulance to the hospital, where he was treated and released.

Mr Firefighters said that other homes and businesses nearby were not threatened by the fire. Northern Avenue, which was closed during the fire, has reopened.

Source - www.fox21news.com

voda 15 maart 2015 16:03

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The 4,000 Scunthorpe steelworkers to be balloted over strike action

The 4,000 employees on the TATA Steel works in Scunthorpe will be balloted by their trade unions over taking industrial action in protest over the company’s plans to close down the British Steel Pension Scheme next year.

TATA Steel bosses today announced their intention to close the Glasgow based fund - which last November was valued at GBP 13.6 billion as from April 1 2016. In the meantime, the company plans a 60 day consultation period with the union starting on March 23. The closure proposal comes after it was revealed there was a £966 million shortfall in the fund to meet liabilities.

The unions claim Tata Steel is legally obliged to cover the deficit and are now threating the biggest steel walk out since the 13-week national strike in 1979-80.

Source – Scunthorpe Telegraph

voda 15 maart 2015 16:04

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Iron ore make bleak rally on mild recovery in finished price

Iron ore price levels jumped by 1% on Friday owing mild pick up in buying by the Chinese steel mills as domestic steel market picked up on activity with warming weather

Iron ore price levels made a bleak rally from below USD 60 a tonne on Friday after a recovery in Chinese steel prices from all-time lows. It helped spur physical trading activity.

Dalian iron ore DCE crept by CNY 4 to CNY 460 per tonne jumping by 0.88%

Iron ore for immediate delivery to China's Tianjin port touched USD 59 per tonne making slight recovery by USD 1 per tonne in Fe 62.5% iron ore fines Australia.

Steel demand is starting to come back due to warmer weather. The most traded October rebar on the Shanghai Futures Exchange was up 0.7% at CNY 2,505 (USD 400) a tonne by the midday break on Friday, recovering from Tuesday's record low of CNY 2,449

Source - Strategic Research Institute

voda 15 maart 2015 16:05

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Iran raises duties on selected steel imports

Reuters reported that Iran has raised duties on certain steel imports to between 10% and 20% as protectionism in the global steel sector gathers pace amid a flood of sales from top producer China.

The duties, which will apply to products such as billet, hot rolled coil, wire rod and rebar are in line with Iran's ambitious 2025 vision plan to quadruple its steel output. They are also in line with a bid to diversify the country's economy away from oil, make it more self-sufficient and shield it better from Western sanctions over Tehran's disputed nuclear programme.

Mr Keyvan Ja'fari Tehrani, head of international affairs at the Iranian Iron Ore Producers and Exporters Association said that "A steel import tax has been imposed to protect local steel mills against dumping of China, Russia and Turkey."

Mr Bahador Ahramian, a board member of Iriopex and the Iran Steel Producers Association said that "Some believe that duties of 20 percent on rebar and 10 percent on billets cannot stop the tide of subsidized Chinese steel exports, and higher tariffs are required."

China's steel exports rose 50.5% last year to a record 94 million tonnes or about a quarter of world exports. The increase has sparked a chorus of calls around the globe for action to protect local steel industries. This year alone, measures taken to protect steelmakers have been taken in the European Union, Indonesia, India, Turkey and now Iran.

Source - Reuters

voda 15 maart 2015 16:05

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US Steel lays off 83 more workers at Gary Works

US Steel will ax 83 more workers at Gary Works in the steelmaker's latest round of layoffs in Northwest Indiana.

All of the employees worked at the sprawling steel mill, US Steel's largest, for under six months. The company is laying off almost all the recent hires at Gary Works, who will receive their last paycheck Saturday and have no call back rights under the union agreement because of the economic slowdown.

Ms Sarah Cassella US Steel spokeswoman said that "As part of the ongoing operational adjustment at Gary Works, 83 probationary employees were notified today of their release upon the completion of this week's schedule."

Source - www.nwitimes.com

voda 15 maart 2015 16:06

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Azovstal sees UAH 900 million in profit in 2014

Interfax reported that Azovstal steel works (Mariupol, Donetsk region), part of Metinvest Group, saw UAH 915.891 million in net profit in 2014, while in 2013 the company saw UAH 2.513 billion in net loss, according to a company report on the holding of a general meeting of its shareholders scheduled for April 15.

The company said that undistributed profit reached UAH 3.167 billion as of late 2014. Last year the plant increased current liabilities by 41.6%, to UAH 15.243 billion and its long term liabilities soared by 2.9 times, to UAH 2.827 billion. Azovstal boosted bills receivable by 37.8%, to UAH 11.376 billion.

The company's assets grew by 66.8% in 2014, to UAH 38.52 billion, including a rise of 92.5% in fixed assets, to UAH 20.197 billion. The number of employees rose by 0.9% last year, to 12,293.

Azovstal cut production of rolled steel by 22.3% in 2014, to 3.521 million tonnes, steel output fell by 19.5%, to 3.599 million and cast iron output dropped by 18.1%, to UAH 3.151 million.

Source - Interfax

voda 15 maart 2015 16:06

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Rio Tinto increase to Pilbara ore reserves and mineral resources

To support the annual Mineral Resources and Ore Reserves review process detailed in Rio Tinto’s 2014 Annual report released, Rio Tinto Iron Ore has declared an increase of its managed Mineral Resources and Ore Reserves in the Pilbara, Western Australia, resulting from the completion of studies and evaluations.

The update is reported under the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and ASX Listing Rules, and provides a summary of information and Table 1 appendices to support the Mineral Resource Estimates and Ore Reserves for the material updates completed.

Increases in Mineral Resources are reported as follows;
1. Hamersley Iron Brockman (increased by 681 million tonnes to 2,998 Mt and Brockman process ore (increased by 324 Mt to 1,137 Mt), The increase represents minor changes across multiple deposits and the first inclusion of the Yandicoogina Braid deposit into the Mineral Resources, which was discovered by the Rio Tinto Exploration group during 2014. The Yandicoogina Braid deposit is classified as Inferred Mineral Resources and comprises:

1. 488 Mt at 61.7% Fe Brockman Ore;
2. 238 Mt at 57.7% Fe Brockman Process Ore; and
3. 62 Mt at 56.9 per cent Fe Channel Iron Deposit.

2. Robe JV Channel Iron deposit;
This reflects an addition of 677 Mt of Inferred Mineral Resources at 53.1% Fe of Channel Iron deposit mineralisation at the Jimmawurrada deposit, following metallurgical assessments of drill core. Increases in the Ore Reserves relates to the Koodaideri deposit where Ore Reserves have increased by 49 Mt to 467 Mt.

Source - Strategic Research Institute

voda 15 maart 2015 16:07

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Steel industry executives testify at congressional steel caucus hearing - AISI

Three steel company CEOs, members of the American Iron and Steel Institute, will be on Capitol Hill at the end of the month to testify at a Congressional Steel Caucus State of Steel hearing. The executives will discuss the state of the steel industry and how policies on trade are impacting manufacturing, especially in the steel industry.

The executives will also discuss other issues of significance to the industry like tax reform and infrastructure funding. The hearing is hosted by Steel Caucus Chair Rep. Tim Murphy (R-PA) and Vice Chair Rep. Pete Visclosky (D-IN).

Representatives from the United Steel Workers, the Steel Manufacturers Association (SMA), the Specialty Steel Industry of North America and the Committee on Pipe and Tube Imports will also participate.

What: House Steel Caucus Hearing
When: 8:30am - 10:00am, Thursday, March 26
Where: Room 2218, Rayburn House Office Building, Washington, D.C.

Who: Steel producing company CEOs:
Mr John Ferriola; Chairman, CEO and President, Nucor Corporation
Mr Mario Longhi; President and CEO, United States Steel Corporation
Mr Michael Rippey; Chairman, ArcelorMittal USA and the American Iron and Steel Institute.

Also testifying will be:
Mr Leo Gerard; International President, United Steelworkers
Ms Tracy Porter; President, Commercial Metals Company, Americas Division
Mr Douglas Polk; Vice President, Industry Affairs, Vallourec USA Corporation
Mr Carl Moulton; Chairman, the Specialty Steel Industry of North America.

Source - Strategic Research Institute

voda 15 maart 2015 16:08

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Prosecutors raid POSCO E&C over alleged slush funds

Prosecutors raided the head office of POSCO Engineering & Construction Company launching an investigation into allegations that the company created massive slush funds overseas.

Late last month, the construction arm of South Korea's top steelmaker, POSCO, said that two executives and about 10 employees in charge of construction projects in Vietnam were reprimanded in July for operating illegal slush funds worth about KRW 10 billion.

The money, which had been accumulated by exaggerating the amount the South Korean company needed to pay local subcontractors in Vietnam, was later given out as monthly rebates to contractors from 2009 to 2012.

The Seoul Central District Prosecutors' Office said that a team of prosecutors and investigators was sent to the main office in Incheon, west of Seoul, to secure documents on overseas construction projects, accounting books and computer hard disks.

According to prosecution sources Following the move, prosecutors will analyze bank transactions by the company officials involved in the case and obtain audit materials from the company. Prosecutors also plan to summon the company officials to determine the exact size and use of the slush funds.

The raid came one day after Prime Minister Mr Lee Wan koo declared a war against corruption in a statement. Lee previously ordered a thorough investigation into the case during a parliamentary interpellation session on February 26.

Some have raised suspicions that the secret funds were actually created by the company or that some of the money was funneled into the country.

Last year, the National Tax Service referred POSCO to the prosecution on charges of inflating sales figures in transactions with its affiliates. But POSCO E&C denies the allegations, calling it an individual case of corruption committed by company executives in charge of sales in Vietnam who are obsessed with their performance.

Source - Yonhap

voda 15 maart 2015 16:08

0

TMK update market conditions on Q4 and FY 2014

Russia;
In the Q4 of 2014, the Russian pipe market increased by 5% compared to the previous quarter. For the full year 2014, the Russian pipe market rose by 9% YoY. Such growth in both periods was mainly the result of higher consumption of LD pipe. In the Q4 of 2014, the seamless OCTG market in Russia increased by 8% QoQ largely as a result of seasonally stronger demand. For the full year 2014, seamless OCTG consumption decreased by 6% compared to the previous year, due to a 5% decline in drilling activity.

The Q4 2014 LD pipe market rose by 44% over the prior quarter. Average growth for the full year 2014 was similar and also amounted to 44%. Such a strong increase for both periods was largely driven by higher demand from Gazprom and Transneft projects.

In the Q4 of 2014, the seamless line pipe market increased by 16% QoQ while the welded line pipe market decreased by 17% for the same period. At the same time, for the full year 2014, both seamless and welded line pipe markets grew by 5% and 9% YoY respectively. Demand for line pipe was mainly driven by higher pipeline construction activity in Russia.

In the Q4 of 2014, the seamless and welded industrial pipe market decreased by 19% and 14% respectively compared to the Q3 of 2014, partially due to seasonally lower demand from the construction sector. For the full year 2014, seamless industrial pipe consumption declined by 4% YoY while welded industrial pipe market grew by 4% over the same period.

America;
According to Baker Hughes, in the Q4 of 2014, the average rig count remained relatively flat compared to the prior quarter. A slight decrease in the oil rig count, as crude oil prices began to fall, was offset by a 5% growth in the natural gas rig count. For the full year 2014, the average rig count increased by 6% YoY from 1,761 for the full year 2013 to 1,862 for the full year 2014, due to an increase in oil drilling activity.

Further to an increase in rig count, more pipe per rig was used, as operators continued to drill more horizontal wells which typically consume more pipe. YoY, the combined horizontal and directional rig count grew from 75% of total rigs for the full year 2013 to 80% for the full year 2014.

Line pipe shipments in the Q4 of 2014 were down by 2% compared to the previous quarter, while full year 2014 shipments decreased by 7% compared to the full year 2013, due to reductions in 2014 pipeline construction projects.

According to Pipe Logix, fourth quarter 2014 average welded and seamless OCTG prices increased by 2% each, while yearly average prices rose by 2% and 1% respectively for the full year 2014 compared to the full year 2013. Line pipe market prices were both slightly down for the fourth quarter of 2014 compared to the previous quarter and for the full year 2014 compared to the full year 2013.

Europe;
In the Q4 of 2014, European steel pipe demand remained weak with end-users focusing on spot orders in anticipation of more favorable payment terms and customers maintaining their inventories at a minimum level. For the full year 2014, the reduced demand and overcapacity led to stronger competition in the European market and downward pressure on prices. Additional challenges came from rising imports of seamless and welded pipe from non EU countries.

Source - Strategic Research Institute

voda 15 maart 2015 16:09

0

Metals and minerals outlook according to Rio Tinto

A wrap of the key takeaways from Rio Tinto’s year end on supply/demand for main metals that drive the mining industry.

This is how Rio Tinto sees the outlook for most major metals and minerals:

Copper;
Rio Tinto sees weakness in copper in the short term despite continued demand growth. It says the market is moving into surplus with new projects on the way. But it sees a better situation in the years to come. It called the medium to long term picture robust and that a supply gap would form by decade’s end. This, will require significant investment on new mines. On the demand side it highlighted, no surprise here, continued urbanisation, industrialisation and electrification of China and along with growth in other regions.

Iron Ore;
Rio Tinto acknowledges the obvious: booming iron ore supply is going to outpace demand growth with approximately 300 MT per annum of additional seaborne capacity currently under construction or in ramp up. It notes that some high cost Chinese supply should keep falling off, with 125 MT offline in China already (but still far short of the supply gap). Rio Tinto is optimistic that more high cost supply will evaporate. With supply volumes high, further shutdowns from Chinese domestic suppliers and some high cost seaborne suppliers will continue.

Aluminium;
Among metals, Rio Tinto is especially bullish aluminium this year. A combination of current forecast production rates and strong demand is expected to result in the global market maintaining a supply deficit for 2015. Crucially, the ex China market appears set to continue a strong rate of drawdown of stored metal in the coming years, which is expected to result in inventory returning to pre-financial crisis levels when measured against growing demand.

Rio Tinto underscores the potential in demand from increasing aluminium use in cars, noting Ford’s aluminium-bodied F-150, a first. Many other leading automakers also have been increasing the amount of aluminium used in lightweight and fuel-efficient car models. Farther out, it points to Indonesia, where an export ban on raw minerals has cut into export supply. As such, although medium-term uncertainty remains, sustained tightness in supply is expected.

Diamonds;
While it doesn’t highlight potential in roads on supply from manufactured diamonds, it suggests the outlook for diamonds is good in the coming years. Rio Tinto pins hopes of diamond demand on India and China, which it expects will represent nearly 50% of global diamond consumption by 2025.

Energy;
In short, it writes that the near future for coal and uranium remains challenging. But longer term it has higher hopes. With growing energy needs, coal the cheapest and most readily available source of energy will be the go to fuel. As for uranium it touts its use as the only base-load energy source that doesn’t produce (significant) greenhouse gases. That is, if places that want to green the economy with renewables, and eschew fossil fuels, will be under pressure to use nuclear.

Source - Mineweb

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