Commodities:

China the key to iron ore, coking coal


CHINESE iron ore demand will determine the fate of coking coal, according to Fat Prophets senior resources analyst Gavin Wendt, who holds a positive outlook on Aussie producer Macarthur Coal and the thermal coal market.



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RELATED STORIES

Macarthur expands development and thermal coal sales



MACARTHUR Coal remains focused on the thermal coal market, with the global steel slump slashing metallurgical coal sales in the first three months of the year, while advancing the Moorvale Underground and Middlemount projects.  - more

Citic creeps Macarthur stake up to 23%



CHINA’S Citic Group has increased its stake in Macarthur Coal from 20.39% to 23.4% through a $A24.5 million ($US17.22 million) purchase of 6.36 million shares from company founder and former chief executive Ken Talbot.  - more

Is more coal action brewing?



WITH Noble Group’s $A7 a share takeover bid wooing the directors of Gloucester Coal, pushing its share price up 18% this week, will there be more merger and acquisition activity in the coal sector?  - more

Noble buys up Gloucester



NOBLE Group has taken a controlling 57.18% stake in Gloucester Coal, with its takeover offer to close on June 16.  - more

Risks for China and Oz in resource investing



AS Chinese investment in Australian resources gains importance, both financially and politically, Chinese companies buying into Australian miners have yet to reap the rewards.  - more

Chinese steelmakers pushing for bigger price cuts



WHILE Rio Tinto settled its iron ore pricing contracts with Japan’s Nippon Steel Corporation yesterday, analysts believe a price settlement with China may still be a way off as Chinese steelmakers push for more substantial drops.  - more

Gloucester contracts discounted 60%



GLOUCESTER Coal has settled coking coal contracts with Japanese buyers at 60% lower than last year’s prices.  - more

BHP takes coking coal price cut



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Boulder Steel to bolster coal and iron ore demand



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RELATED COMPANIES
  • MACARTHUR COAL LIMITED []
  • NOBLE GROUP []
  • GLOUCESTER COAL LIMITED [GCL]
  • FAT PROPHETS

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