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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
22,430   +0,990   (+4,62%) Dagrange 22,240 - 22,590 2.122.433   Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

Volgen
35.173 Posts
Pagina: «« 1 ... 382 383 384 385 386 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 10 maart 2016 17:04
    Vietnam slaps new tariffs on steel billet and rebar imports

    Thanh Nien News reported that Vietnam’s Ministry of Industry and Trade announced on Tuesday that additional tariffs will be levied on imported steel products as a temporary safeguard measure against cheap imports which have allegedly threatened the local industry. The new tariffs, 23.3 percent for steel billets and 14.2 percent for steel rods, will take effect this March 22 and end as late as October 7.

    They, however, will not be applicable for products from developing countries such as Cambodia and Indonesia, whose steel exports to Vietnam account for less than 3 percent of the country's total imports.

    Vietnam is already imposing trade tariffs of up to 20 percent to these products.

    The ministry said it will continue with an investigation launched at the end of last year into possible injury caused by steel imports.

    Initial findings suggested that the recent surge of imports has caused "serious damage" to local production of steel billets and rods, according to the ministry's latest announcement.

    Imported steel billets have undercut local products since 2014, especially after prices of imports were lowered by 30 percent last year, it said.

    Vietnam imported more than 592,000 tons of steel billets in 2014, up 69.7 percent from the previous year, the ministry reported, citing figures from the customs.
    Last year imports surged 218 percent to nearly 1.89 million tons, compared to an increase of 5-10 percent of the sales of domestic products.

    Similar findings were reported about steel rods whose imports had outnumbered local sales since 2012. More than 1.28 million tons of steel rods were brought into Vietnam last year, up 47 percent from 2014, while local producers posted increases of 15-25 percent in sales.

    The ministry's investigation has divided local steel producers with four major companies, Hoa Phat, Southern Steel, Thai Nguyen, and Vietnam-Italy Steel, claiming that cheap imports have deeply hurt their business. Many others, on the other hand, called for a halt to the investigation, saying that unlike big companies they depend on imported steel billets for production and high duties will increase their input costs, which, in turn, will squeeze profit margin.

    Source : Thanh Nien News
  2. forum rang 10 voda 10 maart 2016 17:09
    ACCC seeks details on FMG and Vale tie up

    AAP reported that the Australian consumer watchdog has sought further information from miner Fortescue Metals on its proposed tie-up with Brazilian iron ore giant Vale. The Australian Competition & Consumer Commission said it is aware of the proposed joint venture and is seeking further information from the parties.

    ACCC chairman Rod Sims said “We will look at it, but in saying that, we are not necessarily signalling any concerns.”

    Fortescue on Tuesday announced it was in talks with Vale to strike a deal that could give the Brazilian company a stake up to 15 per cent, and help the two miners boost their combined market share in China. Under the preliminary agreement signed by the two companies, Vale could buy up to 15 per cent of Fortescue's shares on market, and would also have the option of taking stakes in its existing or future mining assets. Both companies will also form a joint venture for blending their iron ore at key Chinese ports, which could help them match the benchmark quality in the largest iron ore market, and help take share away from rivals BHP Billiton and Rio Tinto.

    Fortescue on Wednesday said there was no leak of confidential information regarding the tie-up, ahead of the announcement. The company was responding to a query from the Australian Securities Exchange, asking it to explain a 24 per cent jump in its shares on Monday, a day before it announced the agreement.

    Source : AAP
  3. forum rang 10 voda 10 maart 2016 17:10
    Chinese iron ore miner Zibo Hongda defaults on bond payment

    Bloomberg reported that a Chinese mining company defaulted on its bonds, the latest firm to have trouble with financing as an economic slump hurts business. Zibo Hongda Mining Co, which is based in the eastern province of Shandong, said it didn’t raise enough funds to make its full debt payment due March 8, according to a statement posted to the Shanghai Clearing House website.

    Zibo Hongda said it will try to raise money through multiple channels to repay the debt, according to its statement.

    The iron ore miner issued 400 million yuan ($61 million) of notes in 2015 with a coupon rate of 8 percent and had to repay 431.91 million yuan in principal and interest Tuesday.

    Some banks have withdrawn loans to Zibo Hongda, increasing the company’s liquidity shortage, according to a statement from Dagong Global Credit Rating Co. on March 1 posted on the Chinamoney website.

    Source : Bloomberg
    Bijlage:
  4. forum rang 10 voda 10 maart 2016 17:11
    Mr Andrew Forrest pushes for investigation into BHPB and Rio

    Sydney Morning Herald reported that Fortescue Metals Group chairman Mr Andrew Forrest has reignited his call for an investigation into an iron ore supply side strategy that has crushed the Australian economy.

    Speaking on the sidelines of the Global Iron Ore and Steel Forecast conference in Perth, Mr Forrest said an investigation into the iron ore price volatility, which he has been lobbying for since early 2015, was still warranted.

    Mr Forrest, joined by the heads of many smaller West Australian miners including Mr Goncalves, last year blamed major iron ore miners Rio Tinto and BHP Billiton for signalling overproduction to drive down prices and put smaller players out of business.

    BHP and Rio have defended their strategies by arguing cutting back production wouldn't be in their shareholders' interests as other suppliers around the world would fill the void.

    Source : Sydney Morning Herald
  5. forum rang 10 voda 11 maart 2016 15:33
    ArcelorMittal maakt details claimemissie bekend - Update

    (Update van eerder gepubliceerd bericht 'ArcelorMittal maakt details claimemissie bekend' om extra informatie toe te voegen.)


    AMSTERDAM (Dow Jones)--ArcelorMittal (MT.AE) gaat 1,26 miljard nieuwe aandelen uitgeven voor EUR2,20 per aandeel. Dat maakte het staalbedrijf vrijdag bekend.

    De claimemissie moet in totaal $3 miljard opleveren en is bedoeld om de financiele gezondheid van ArcelorMittal te verbeteren die flink is verslechterd als gevolg van de aanhoudende lage prijzen en overcapaciteit in de staalmarkten. Aandeelhouders gaven donderdag hun goedkeuring aan de emissie.

    De uitgifteprijs betekent een korting van ruim 35% ten opzichte van de theoretische ex-claim slotkoers van 10 maart. Bestaande aandeelhouders hebben de mogelijkheid om zeven nieuwe aandelen te kopen voor iedere tien aandelen die zij bezitten.

    De familie van CEO Lakshmi Mittal, goed voor een belang van 37,8% in het bedrijf, heeft toegezegd pro rata in te schrijven op de claimemissie. Dat zou neerkomen op een bedrag van ruwweg $1,1 miljard.

    Het concern en de Mittal familie hebben toegezegd dat de uitgegeven aandelen niet zullen worden verkocht voor een periode van 180 dagen volgend op de emissie. Aandeelhouders kunnen tussen 15 en 30 maart beslissen of ze mee willen doen.

    De claimemissie wordt begeleid door meerdere banken, bestaande uit Goldman Sachs, BofA Merrill Lynch, Credit Agricole, Barclays, BNP Paribas, Citigroup en J.P.Morgan.


    Door Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com

  6. forum rang 10 voda 11 maart 2016 15:47
    Highveld Steel will be wound down – Mr Ian Ollis

    politicsweb.co.za reported that the DA has confirmed that Highveld Steel will be wound down by business rescuers, Matsun Associates, and all 2,242 workers retrenched leaving these two thousand-odd families without breadwinners. More troubling, is that the Department of Labour failed to meet an agreement reached with Highveld Steel to assist in retraining and reskilling the workers through the Training Layoff Scheme in order to prevent the job losses. As a result of the Department’s inaction, all 2,242 workers, many of whom are breadwinners, will be left out in the cold.

    Statement issued by Ian Ollis MP, DA Shadow Minister of Labour, 10 March 2016

    I will therefore request that the Minister of Labour, Mildred Oliphant, appear before the Portfolio Committee on Labour to account for her Department’s failure to prevent the retrenchments.

    In November, Highveld Steel, the Department of Labour and the unions agreed to implement a Training Layoff Scheme as an alternative to retrenchments, to be funded by the Department. The Department failed to make payments to the scheme and Highveld Steel was forced to carry the cost itself – to a tune of R38 million since November.

    The Training Layoff Scheme was established by the Department as an alternative to retrenchment for companies in distress. It is therefore unfathomable that the Department failed to pay for the retraining of Highveld Steel workers given that the scheme has R3.3 billion available in its budget.

    The Department could have also assisted Highveld Steel through another of its initiatives, the Productivity South African Fund. Productivity SA, with R229.1 million available, assists companies with providing skills in turnaround and business improvements.

    It is clear that the Minister Oliphant is a lame duck. She consistently misses committee meetings and could not provide any substantive answers when asked about the Highveld Steel debacle when asked by the DA on the 17th February 2016.

    With 8.2 million South Africans without work, or discouraged to the point of no longer looking for work, we cannot afford a Labour Minister who does not take decisive action against job losses.

    Source : politicsweb.co.za
  7. forum rang 10 voda 11 maart 2016 15:59
    NMDC update on iron oreproduction in February 2016

    Indian iron ore giant National Mineral Development Corporation announced the production and sales update for upto February 2016 end

    Production
    Tota - 25.04 million tonnes
    Chhattisgarh - 14.55 million tonnes
    Karnataka - 10.49 million tonnes

    Sales
    Total - 25.86 million tonnes
    Chhattisgarh - 14.63 million tonnes
    Karnataka - 11.23 million tonnes

    Source : Strategic Research Institute
  8. forum rang 10 voda 11 maart 2016 16:00
    Australian dollar is up by 10% since January

    Business Insider Australia reported that nothing, not even a 9% plunge in the iron ore price, seems to be able to derail the Australian dollar’s rally at present. Overnight the AUD/USD rose to as high as .7523, marking the first time the Aussie traded above the 75 cent level since July 6 last year.

    While it has since fallen back to .7482 courtesy of profit taking and the surprise decision from the RBNZ to cut interest rates earlier today, from the low of January 15 to the high struck overnight, the Aussie rallied more than 10% against its US counterpart.

    With a relative dearth of Australian economic data for the rest of the week, Elias Haddad, currency strategist at the CBA, believes that tonight’s ECB policy meeting, along with upcoming data from China, will determine whether the Aussie dollar rally will continue in the days ahead.

    Source : Business Insider Australia
  9. forum rang 10 voda 11 maart 2016 16:00
    Arrium Whyalla iron ore miners reject proposed 10% pay cuts

    ABC News reported that iron ore miners in Whyalla have voted to reject any pay cuts until their employer, Arrium, provides a clear plan for continued operation of its mines and steelworks.

    About 25 nightshift mine workers went to a meeting this morning with company officials. Union officials told the meeting the plan would effectively cut wages by 13 percent. Union members passed a resolution to not accept any changes to pay or conditions until the company clearly explained a plan for its operations to continue.

    Arrium has asked 400 miners to take a temporary pay cut of 10 per cent, until it can afford to pay them at their normal salaries. The company has mines near Whyalla, but also operates the steelworks, which it said it would have to mothball if it could not find an extra $60 million.

    It cut about 600 staff from its South Australian operations last year and hundreds more workers now face an uncertain future.

    Source : ABC News
  10. forum rang 10 voda 11 maart 2016 16:01
    China yet to get application from Vale and Fortescue for planned JV

    Reuters reported that China's Commerce Ministry said on Thursday it had not received an application for regulatory approval from iron ore miners Vale and Fortescue Metals Group in relation to their planned joint venture.

    In a fax message to Reuters, the ministry said it would review the deal according to the law if it received an application.

    The world's No 1 and No 4 iron ore miners are in talks that could see Brazil's Vale taking a minority stake in Australia-based Fortescue Metals Group and blending their iron ore to win market share in China.

    Source : Reuters
  11. forum rang 10 voda 11 maart 2016 16:03
    Samarco CEO sees mine restarting at 19 million tonnes production

    Reuters reported that Samarco, a joint venture between Brazil's Vale SA and Australia's BHP Billiton, expects to restart iron ore production at its mine in Minas Gerais by the start of the fourth quarter at reduced capacity

    Chief Executive Mr Roberto Carvalho told Reuters on Thursday that “Production for the initial two to three years would likely be 19 million tonnes per year of iron ore pellets, compared with a previous capacity of 30 million tonnes.”

    The company was forced to shut the mine after a deadly dam burst in November.

    Source : Reuters
    Bijlage:
  12. forum rang 10 voda 11 maart 2016 16:26
    SSI and PD Ports in dispute over 11,000 tonnes of steel slabs at Teesport docks

    Gazette Live reported that a dispute has broken out between Teesport’s owner and steelmaker SSI over a large quantity of steel stranded at the docks. Around 11,000 tonnes of steel is waiting to be shipped. SSI says it’s the sole lawful owner and PD Ports or anyone else, does not have authority to sell it. With prices of USD 300 a tonne for steel slab, the haul could be worth USD 3.3 million

    The Thai steelmaker, whose Teesside operations were wound up last year with the loss of 2,000 jobs, has issued a statement saying the load could shortly be offered for sale by PD Ports, or on their behalf.” The company said “SSI gives notice to any potential purchaser of the slab that SSI regards itself to be the sole lawful owner. SSI does not regard PDT or any third party as having authority to sell the slab.

    It added “SSI intends to challenge the validity of any purported sale of the slab on the grounds that purchases will not take good or lawful title to the slab. In the event of any purported sale, SSI reserves all of its rights as against any such purchaser, including court proceedings to restrain the sale or seeking the award of substantial damages.”

    Ownership of former SSI UK assets remains a complex issue following the liquidation of the firm’s SSI UK business last year.

    Source : Gazette Live
    Bijlage:
  13. forum rang 10 voda 11 maart 2016 16:27
    POSCO may integrate 12 processing centers in China - Report

    Korea Herald reported that South Korea’s top steelmaker POSCO is reportedly pushing for integration of its processing centers in China by setting up a special team. Money Today quoted an unnamed source as saying “POSCO is planning to merge 12 processing centers in China into around three key divisions in order to save cost. “

    It added “The company will first reduce the number of employees sent from headquarters in Korea instead of cutting local staff.”

    Some processing centers are likely to be assembled into the center in Chongqing, close to the plants of global automakers such as Hyundai, Ford, Volkswagen, GM and Suzuki, according to market experts.

    Industry watchers said the restructuring appears not to be a response to the recession in the market but simply a means to improve organizational efficiency.

    Currently, POSCO is operating 12 processing centers in China to provide steel sheets for its clients which include carmakers, technology companies and shipbuilding companies. These centers mostly produce materials for automobiles, except for one in Dalian whose clients are shipbuilders.

    Source : Korea Herald
  14. forum rang 10 voda 11 maart 2016 16:28
    Essar Steel might miss March deadline to sell assets – BS Report

    Business Standard reported that Essar Steel, which was to sell assets worth INR 11,200 crore by March end to retire its debt, will miss the deadline following a Reserve Bank of India directive to ban sale and leaseback of assets. Essar Steel was planning to sell and leaseback its slurry pipelines and coke oven in 2015-16 to reduce its debt of INR 30,500 crore ahead of a deadline set by lenders.

    The banks would now have to make provisions for the steel company's debt in the March quarter, a banking source said.

    Essar Steel spokesperson said “The RBI recently issued guidelines governing sale and leaseback transactions by corporates which effectively restricts corporates from undertaking monetisation of assets through this mechanism. The company is, therefore, evaluating alternatives to achieve the reduction of liability.”

    In November, the Ruias had hired SBI Caps and ICICI Securities to sell a stake in the company itself. But bankers said the strategic stake sale in Essar Steel would take time because current valuations were not attractive. In February, the Essar group sold real estate in the Bandra Kurla Complex for INR 2,400 crore to RMZ and leased it back.

    The group was also asked by Standard Chartered Bank to repay loans worth $2.5 billion by March and the Ruias have announced the sale of a 49 per cent stake in Essar Oil to Rosneft in an all-cash deal worth $2.8 billion. The Rosneft deal is imminent and will be the next transaction the group closes.

    Source : Business Standard
  15. forum rang 10 voda 11 maart 2016 16:29
    Linde India starts 1st ASU at Tata Steel Kalinganagar plant

    Linde India announced that “Pursuant to a long term gas supply contract entered into with Tata Steel for catering to the gas requirement at their Kalinganagar steel works project, we had undertaken construction of two Air Separation Units with a total capacity of 2,400 tonnes per day at the customer’s premises at Kalinganagar for supply of gases to Tata Steel as well as for additional liquid products for merchant markets.”

    The company has now commissioned the 1st of the aforesaid two Air Separation Units, which has started gas supplies to Tata Steel’s Steelworks at Kalinganagar.

    Source : India Infoline News Service
    Bijlage:
  16. forum rang 10 voda 11 maart 2016 16:36
    March brings cheer for Chinese steel companies

    China Daily reported that China's steel companies will see better performance in March due to price rises and the central government's destocking policy for the real estate industry. Mr Wang Guoqing, consultancy director at the Lange Steel Information Research Center, said demand for steel will gradually increase in March, which will lead to improved conditions for the companies in the industry.

    Mr Du Cheng, an analyst at JYD Online Corp, a Beijing-based bulk commodity consultancy, said steel companies in Hebei province, a major steel-producing area in the country, will cut production for environmental reasons between April to October when the International Horticultural Exposition is held in Tangshan, a major steel-producing city in Hebei, which is the major cause of the recent price rises. He said “The steel companies are using the coming production cut to hype the price.”

    Source : China Daily
  17. forum rang 10 voda 11 maart 2016 16:40
    Mr Visclosky restores buy American steel rule for US military

    NWI Times reported thata legal requirement the US military buy American made steel to build tanks, ships and submarines lapsed, but Congressman Mr Pete Visclosky restored it. As the ranking member of the subcommittee on Defense, Mr Visclosky reinstated the requirement that the US Department of Defense can only buy American steel and not any imports from foreign competitors, his Chief of Staff Mark Lopez told an Association for Iron and Steel Technology gathering at Avalon Manor, in Hobart, Thursday.

    The Department of Defense had requested the removal of Buy America provisions, but Visclosky successfully worked with fellow Representatives to ensure it remained in the final appropriations bill, and also got an amendment passed that Buy America rules apply to projects funded by EPA Clean Water and Drinking Water State Revolving Loan Funds.

    He said “We all read on the issues facing the steel industry. It's moving in the right direction, but steelmakers are still operating at a loss. Mills are still being idled. Workers are still being laid off."

    Lopez blamed the steel industry's woes on 700 million tons of global overcapacity and overseas state-owned manufacturers that are willing to sell at a loss in the short term to gain market share in the long term by driving competitors out of business.

    Congress scored two major legislative victories, Lopez said. The federal government now can quickly input real-world market conditions to quickly assess damage by illegal trade, while the U.S. Customs and Border Protection Agency can crack down on steel dumpers that duck anti-dumping and countervailing duties.

    Visclosky is focused on ensuring the law gets enforced, Lopez said. He also plans to testify during trade cases on illegally dumped hot-rolled, cold-rolled and corrosion-resistant steel, the results of which are expected this summer.

    Source : NWI Times
  18. forum rang 10 voda 11 maart 2016 16:51
    Sund Birsta to revamp of coil compactor at ArcelorMittal Ruhrort in Germany

    ArcelorMittal Ruhrort, after several bad performing operations on its coil compactor, took the decision to move into “a fast lane” and now is choosing “real performing” head units to increase plant performances since the commissioning of its mill in 2012.
    For this reason Sund Birsta was recently awarded the contract for revamping the compactor with the reliable and revolutionary SBHX5 strapping heads. The strapping heads will be installed during limited mill stop in the middle of this year.

    Source : Strategic Research Institute
  19. s.lin 11 maart 2016 17:58
    ArcelorMittal slechtste AEX-aandeel afgelopen 10 jaar
    11 maart

    Het aandeel was de afgelopen 10 jaar met een enorm verlies van 83 procent het slechtste aandeel van de AEX-index. Het gemiddelde AEX-aandeel daarentegen won de afgelopen 10 jaar ruim 46 procent.

    ArcelorMittal vs staalsector
    Te zien is dat het aandeel ArcelorMittal het de afgelopen 10 jaar fors slechter deed dan de sector.Vooral op de langere termijn (5 en 10 jaar) boekte het aandeel een enorme underperformance. De relatief hoge winst van 18 procent over de afgelopen 3 maanden is voor de beleggers dan ook maar een doekje voor het bloeden.

    Historische koersen aandeel ArcelorMittal
    Het aandeel noteert nu nog maar op een fractie van haar alltime high van ruim 60 euro eind 2008.

    Licht minder omzet ArcelorMittal verwacht
    Over het afgelopen boekjaar komt de omzet volgens de analisten uit op 55,7 miljard euro. Dit is beperkt minder dan de omzet over 2014 toen de omzet 59,79 miljard euro bedroeg. De analisten rekenen voor 2015 op een nettoverlies van 281 miljoen euro.

    Over dit jaar ligt de consensus van ArcelorMittal's resultaat per aandeel op een verlies van 21 cent. De koerswinstverhouding komt hiermee op -21,39 te liggen.

    Ondanks het verwachte verlies zal het bedrijf waarschijnlijk wel een dividend uitkeren. Per aandeel verwachten de analisten een dividend van 11 cent. ArcelorMittal's dividendrendement komt hiermee uit op 2,45 procent. Het gemiddelde dividend van de industriële metalensector ligt op 1,07 procent.

    Het aandeel ArcelorMittal wordt door 24 analisten gevolgd. Het gemiddelde koersdoel voor het aandeel staat op 5,02 euro. Dit is 18 procent meer dan de huidige koers.

    De aandelen AMG, Aperam en Aurubis krijgen in de sector industriële metalen de meeste voorkeur. De meest recente adviezen voor het metaalbedrijf zijn afkomstig van Morgan Stanley (kopen, zonder koersdoel), Jefferies & Co. (houden, 4,00 euro) en Goldman Sachs (houden, 3,50 euro).

    Waarderingen ArcelorMittal

    De boekwaarde per aandeel ligt op circa 21,03 euro. Het aandeel noteert op factor 4,96 hiervan. De industriële metalensector noteert momenteel met een CAPE van -16.17. Om 14.30 koerst het aandeel 0,25 procent hoger op 4,49 euro. Dit komt overeen met 10 maal het resultaat per aandeel over 2014.

    Op basis van het huidige aantal uitstaande aandelen bedraagt ArcelorMittal's marktkapitalisatie 7,02 miljard euro.

    www.analist.nl/berichten/25522-arcelo...
  20. max21 13 maart 2016 17:10
    www.bloomberg.com/news/articles/2016-...
    Iron ore sank, adding to signs the record leap at the start of the week wasn’t justified given the global market’s poor fundamentals, with banks and even miners lining up to say the spurt was destined to fade.
    Ore with 62 percent content delivered to Qingdao retreated 1.4 percent to $57.09 a dry metric ton, according to Metal Bulletin Ltd. The price has declined every day after Monday’s 19 percent rally to $63.74, the biggest gain in daily data going back to 2009. Friday’s drop was foreshadowed by losses in futures in Singapore, which fell near $50.
    “The insane rise at the start of the week was irrational and is unlikely to continue,” Huang Huiwen, an analyst at Shanghai Cifco Futures Co, said before the Metal Bulletin data was released. “Usually after a period of abrupt gains, prices tend to drop back quite sharply. I think we’ll see that in iron ore.”
    Iron ore has advanced in 2016, surprising many forecasters who’d expected a fourth year of losses driven by a global glut and slowing demand for steel in China, the largest user. Prices had surged on Monday after bullish comments on growth from China’s leadership, spurring speculation that some investors had been forced to rush to reverse bets on losses. After the jump, Goldman Sachs Group Inc. and Citigroup Inc. reiterated bearish forecasts, and producer BC Iron Ltd. said that it expected a retracement.

    “There’s not going to be a huge increase in steel demand, I think most people get that,” said Huang. “A reasonable price range for iron ore should be between $45 and $55.”
    The retreat in the spot price was preceded by declines in futures on Friday. In Singapore, the SGX AsiaClear contract for May settlement dropped as much as 1.5 percent to $50.40 a ton, while futures on the Dalian Commodity Exchange fell 2.7 percent for their first loss this week.
    The recent rally will probably prove to be short-lived given fundamentals remain weak, Australia & New Zealand Banking Group Ltd. said in a report on Friday, forecasting the commodity would be back down to $48 at the end of June. Supply growth is expected to accelerate as the impact of recent disruptions dissipates, ANZ said.
    BHP Billiton Ltd., the world’s biggest mining company, said on Friday that its joint venture, Samarco Mineracao SA, is seeking to resume iron ore output in Brazil after a deadly dam burst caused operations to be suspended. Mid-week, the company said the recent price surge didn’t change the mid- to long-term outlook for China’s steel and iron ore demand, according to Mike Henry, president of its Minerals Australia operations.
    Back Down
    BC Iron Managing Director Morgan Ball said Wednesday the “blip” wouldn’t endure and prices may head back to down to the $45-to-$55 range. For Lourenco Goncalves, head of Cliffs Natural Resources Inc., the largest U.S. producer, the gyrations had been driven by shifts in futures and have no correlation with the physical trade.
    “Prices have surged well beyond our forecasts this week, as enthusiasm toward potentially better steel demand in China was met with extensive short-covering,” Macquarie Group Ltd. said in a report received on Friday. While the market appears well-supported by seasonal factors and improved sentiment, “we are nervous as to how much upside is possible from here,” it said.
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