Publications - Weekly Market Updates 2018 (Available for ICDA Members only)


N°310 - 19th February 2018
Global Market Outlook
icda-wmu-19-02-2018-p1"Political change in South Africa:

Last week the ANC, South Africa’s ruling party, voted to recall JacobZumafrom his position as President of South Africa amid state-capture scandals. Cyril Ramaphosa, who was Zuma’s Vice President and who was elected to the head of the ANC last December, has replaced him as President and delivered his first State of the Nation Address last Friday..."

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N°309 - 12th February 2018
Global Market Outlook
"Cape Town: Zimbabwe confirms it’s open for business alongside the 2018 Mining Indaba (NewsDay, The Herald):

Speaking at the Mining in Zimbabwe Dialogueeventheld on thesidelinesof the Africa Mining Indaba, WinstonChitando, the Mines and Mining Developmentminister of Zimbabwereiterated the theme of the administration of PresidentEmmersonMnangagwa, “Zimbabwe is open for investment”, with mining set to play a pivotal role. He saidthatthefact of the matter is that Zimbabwe is underexploited. The exploration was done largely before modern exploitation techniques,(…)There are vast opportunities which we would encourage investors take advantage of...

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N°308 - 5th February 2018
Global Market Outlook

"Chart 1 shows that Chinese Cr ore stocks at its ports were up by 3.9% last week, remaining over 2 Mt and rising to 2.22 Mt. Charts 2 and 3- Last week, all Cr ore and concentrate prices were upaccording to FerroAlloyNet..."

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N°307 - 29th January 2018
Global Market Outlook

"Slower but sustainable growth expected for China in 2018 (Shanghai Daily):

China’s economic performance beat market expectations in 2017 as its economytotaled82.7 trillion yuan (US$13 trillion), expanding 6.9% as it picked up pace for the first time in seven years. Global investment banks JP Morgan and UBS expect China’s economy to expand about 6.7% and 6.4% this year respectively. Meanwhile, Japanese securities trader Nomura has raised its 2018 GDP growth forecast by 0.1 percentage point to 6.5%, with a gradual growth slowdown in coming quarters and Iris Pang, economist at ING, believes 2018 will be another good year for China, supported by consumption of goods and services and infrastructure investments…"

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N°305 - 15th January 2018
Global Market Outlook

"Chinese government announces plan to cut overcapacity in steel, cement and plate glass industries (ChinaDaily):
According to Economic Information Daily, citing announcements made last Monday by the Ministry of Industry and Information Technology (MIIT), the Chinese government has released new policy to ensure zero growth of production capacity in the steel, cement and plate glass industries and to continue capacity replacement measures this year.

In the environmentally sensitive areas of the Beijing-Tianjin-Hebei region, the Yangtze River Delta and the Pearl River Delta, steel plants should reduce at least 1.25 tons of outdated capacity for every 1 ton of new capacity and in other areas outdated capacity decrease should surpass new capacity increase..."

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N°304 - 8th January 2018
Global Market Outlook

"Chart 1 shows that Chinese Cr ore stocks at its ports were up by 1.5% last week, remaining over 2 Mt and rising to 2.27 Mt. ...Charts 2 and 3 - Last week, all Cr ore and concentrate prices were up, except for South African lumpy prices (dark red curve) which remained flat according to FerroAlloyNet..."

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N°303 - 18th December 2017 
Global Market Outlook

"Balasore Alloys to invest in ZimAlloys (The Herald)

According to The Herald, Balasore Alloys concluded a $100 million investment deal with ZimAlloys. The creditors of the Zimbabwe FeCr producer, who had been under judicial management, approved the deal and ZimAlloys should start operations in the next 18 months. BalasoreAlloys has committed itself to settling ZimAlloys’ $50 million debt owed to creditors. It has also planned to revive the furnaces, refurbish smelters, construct mortal recovery plants and washing plants at ZimAlloys. Reggie Saruchera, judicial manager for ZimAlloys, said the company will re-hire its former employees and said that they were working to operationalize ZimAlloys: “the blast furnaces are expected to be refurbished to become full operational within a period of up to 18 months..."
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