May 17, 2020

Mining conference to shine a light on Australia

Mining conference
Victoria
Australian mining
BHP Biliton
Dale Benton
1 min
Mining conference to shine a light on Australia
The leading mining business event in Australia has been launched this year as part of a state inbound trade missions.

The International Mining and Reso...

The leading mining business event in Australia has been launched this year as part of a state inbound trade missions.

The International Mining and Resources Conference (IMARC) will be held in Victoria, Australia’s largest exporter of mining equipment and technologies.

Global mining giants such as BHP Billiton, MMG, Oceanagold as well as Rio Tinto all have headquarters based in the state.

Launched by the Andrews Labor Government, IMMARC will connect global mining leaders with Victorian-based resources companies, as well as training providers and other professional services to support the industry.

This year’s conference will be part of the Victorian Innovation Program (VIP), a state inbound trade mission that attracts buyers and investors to Victoria to network with local businesses.

"The Andrews Labor Government is supporting Victoria's leading mining sector to showcase their world class expertise and build new opportunities." Said Wade Noonan, Minister for Industry and Employment.

"This year's conference will be the biggest yet, drawing more than 2,000 delegates from every corner of the globe."

IMARC 2016 will be held at the Melbourne Convention and Exhibition Centre from 7-10 November.

Read the July issue of Mining Global Magazine!

Be sure to follow @MiningGlobal for news and latest updates.

Share article

May 6, 2021

Copper, iron ore surge as Chinese investors unleash demand

Copper
Iron ore
Renewables
EVs
3 min
Iron ore broke $200 a tonne for the first time, while copper approached a record high as Chinese investors unleashed fresh demand following May holiday

The reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 on Thursday.

In the wake of mounting evidence of inflation fuelled by higher raw materials prices, investors are also increasingly focused on when the U.S. Federal Reserve might start throttling back its emergency support.

Copper

Many banks say the rally has further to run, particularly for copper, which will benefit from rising investment in new energy sectors. Copper is at the highest in a decade, fueling bets it will rally further to take out the record set in February 2011. Steel demand is surging as economies chart a path back to growth just as the world’s biggest miners have been hampered by operational issues, tightening ore supply.

“The long-term prospects for metals prices are ‘too good’ and point to higher prices in the next few years,” said Commerzbank AG analyst Daniel Briesemann. “The decarbonization trends in many countries, which include switching to electric vehicles and expanding wind and solar power, are likely to generate additional demand for metals.”

Trading house Trafigura Group and several major Wall Street banks including Goldman Sachs Group Inc. and Bank of America Corp. expect copper to extend gains.

Copper rose as much as 1.6% to $10,108.50 a ton on the London Metal Exchange before trading at $10,080 as of 4:07 p.m. in London.

Bloomberg

Iron Ore

Benchmark spot iron ore prices rose to a record, while futures in Singapore and China climbed.

The boom comes as China’s steelmakers keep output rates above 1 billion tons a year, despite a swath of production curbs aimed at reducing carbon emissions and reining in supply. Instead, those measures have boosted steel prices and profitability at mills, allowing them to better accommodate higher iron ore costs.

Spot iron ore with 62% content hit $201.15 a ton on Thursday, according to Mysteel. Futures in Singapore jumped as much as 5.1% to $196.40 a ton, the highest since contracts were launched in 2013. In Dalian, prices closed 8.8% higher.

Erik Hedborg, Principal Analyst, Steel at CRU Group commented: “Recent production cuts in Tangshan have boosted demand for higher-quality ore and prompted mills to build iron ore inventories as their margins are on the rise. Iron ore producers are enjoying exceptionally high margins as well, around two thirds of seaborne supply only require prices of $50 /dmt to break even.”

China

Still, some analysts including Commerzbank’s Briesemann expect a short-term correction as metals become detached from fundamentals. There’s also a risk that China could engage in policies that may cool demand for iron ore and copper.

The metals rally has boosted concerns about short-term Chinese demand. Some manufacturers and end-users have been slowing production or pushing back delivery times after costs surged, while weaker-than-expected domestic consumption has opened the arbitrage window for exports.

Tin climbed as much as 2% to $30,280 a ton on the LME, boosted by rising orders for the soldering metal. Tin is at the highest since May 2011, with a 48% gain this year making it the best performing metal on the LME.

 


 

Share article