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

Latest
 
N°331 - 30th July 2018
Global Market Outlook
 

icda-wmu-30-07-2018-p1"Boeing raises its 2018 revenue outlook (Argus Metals):

According to Argus Metals International, Boeing raised its annual revenue forecast by 1% to $97-99bn (from $96-98bn in its previous estimate) in line with greater demand for defence and commercial aircraft and services. The annual delivery forecast for commercial aircraft was unchanged at 810-815. Deliveries of commercial aircraft rose by 6% to 194 total aircraft. The company's Q2 2018 revenues rose by 5% to $24.3bn from $23bn a year earlier..."

 

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N°330 - 23rd July 2018
Global Market Outlook
 

"Chinese economy grows 6.8% in H1 2018 (Shanghai Daily):

According to Shanghai Daily, citing data published last week by the National Bureau of Statistics, the Chinese economy continued its steady growth and expanded higher than expected by rising 6.8% year on year in H1 2018. The GDP rose 6.8% to RMB41.9 trillion (US$6.3 trillion) in H1 2018 from the same period last year according to the bureau. The economic growth in Q1 was 6.8%, and 6.7% in Q2, thus maintaining a consistent growth of between 6.7% and 6.9% for 12 straight quarters..."

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N°329 - 16th July 2018
Global Market Outlook
 

"Chinese car sales up 5.6% to beat expectations (Shanghai Daily):

According to Shanghai Daily, citing data from the China Association of Automobile Manufacturers, China’s auto sales beat expectations by rising 5.6% year on year and reaching 14.06 million vehicles sold in the first half of this year. According to the CAAM, growth in vehicle sales and production remained stable last month, with auto sales climbing 4.8% year on year in June, reaching 2.27 million vehicles sold..."

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N°328 - 9th July 2018
Global Market Outlook
 

"Chrome Market overview:

Chart 1 Chinese Cr ore stocks were up 1.6% to 3.21 Mt last week, after rising 6.9% to 3.16 Mt the prior week, according to FerroAlloyNet .

Charts 2 and 3 – Last week, all lumpy and concentrate prices were flataccording to FerroAlloyNet..."

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N°327 - 25th June 2018
Global Market Outlook
 

"Electricity use on the rise in China (Shanghai Daily)

According to Shanghai Daily, relying on official data released last week, China’s electricity consumption, which is a key gauge of economic activity, rose 11.4% year on year to 553.4 billion kilowatt hours in May amid a resilient economy. The data released by the National Energy Association shows that this rate was above April’s 7.8% rise. Electricity used by the service sector rose by 15.3%, followed by a 10.9% gain for the industrial sector and 10.3% for residential power use, meanwhile power consumption in the agricultural sector rose 9.1%, according to the NEA..."

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N°326 - 18th June 2018
Global Market Outlook
 

icda-wmu-18-06-2018-p1"Zimbabwe passes new mining act (Industrial Minerals):

Zimbabwe’s parliament has approved new mining legislation and measures that reform controls imposed under the ex-President Robert Mugabe, with the goal of boosting production and wooing investors. These measures are in line with declarations from new President EmmersonMnangagwa that the country – which has extensive chrome deposits – is now open for business. The changes, which have been welcomed by the mining sector and opposition parties, have been in development since last November, and President Mnangagwa has pushed to secure the new mining laws ahead of the July 30th general election..."

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N°325 - 11th June 2018
Global Market Outlook
 

"SA govt announces new measures at Junior Indaba (Mining Weekly):
The South African government announced several new measures in mining at the Junior Indaba last week. It announced that it would be partnering with the State-owned Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners, investing R20 billion in the Council for Geoscience to boost exploration…
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N°324 - 4th June 2018
Global Market Outlook
 

icda-wmu-22-05-2018-p1"Chart 1 Chinese Cr ore stocks were down 2.3% to 3.18 Mt last week according to FerroAlloyNet . Charts 2 and 3 – Last week, all lumpy and concentrate prices were flataccording to FerroAlloyNet..."

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N°323 - 28th May 2018
Global Market Outlook
 

"South African Chamber of Mines” becomes “Minerals Council South Africa” (Mining Review):

 

The President of the Chamber of Mines of South Africa, MxolisiMgojo, has announced that the organisation will now be known as the Minerals Council South Africa, at the same time, the new Minerals Council revealed its corporate identity, which draws on the elements of the logo, and which displays a proudly South African heritage and future..."

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N°322 - 22nd May 2018
Global Market Outlook
 

"Sinosteel to invest $1bn in Zim. to lift FeCr output(Mining Weekly):

China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the country's President EmmersonMnangagwa said last Monday. Sinosteelpresident Andong Liu said the Chinese firm planned to build three additional furnaces at its majority-owned Zimasco business, which would raise ferrochrome output by 120 000 t over the next five years to 300 000 tonnes per year..."

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N°321 - 7th May 2018
Global Market Outlook
 

"Chart 1 shows that Chinese Cr ore stocks at its ports were down by 0.6% last week, remaining over 3 Mt and dropping to 3.02 Mt. Charts 2 and 3 - Last week, all lumpy ore and concentrate prices were down according to FerroAlloyNet..."

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N°320 - 30th April 2018
Global Market Outlook
 

"Zimbabwe to drop local listing requirement from mining bill (Reuters):
Zimbabwe will drop a requirement that mining companies must list on the local stock exchange from a new mining act, foreign minister Sibusiso Moyo said last week, speaking in London at a Chatham House event. The Chamber of Mines, had expressed concerns about the proposal for mining firms to list locally, warning that the exchange might not be deep and liquid enough for companies to raise capital. The original proposal was part of efforts under the country’s new president Emmerson Mnangagwa to boost investment and local ownership of Zimbabwe’s vast mineral resources..."

 

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N°319 - 23rd April 2018
Global Market Outlook
 

"Beneficiation to be a major topic during next week’s forum in Geneva (Mining Weekly):
According to Mining Weekly, several key topics will be discussed during next week’s eighth Global Commodities Forum (organized by the United Nations Conference on Trade and Development), taking place at the Palais des Nations, in Geneva. Amongst those topics, the skills needed to add value to raw materials and provide decent work in emerging economies which are dependent on commodity exports will be discussed..."

 

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N°318 - 16th April 2018
Global Market Outlook
 

"South Africa: the DMR is finalizing the Mining Charter and developing a “Vision 2030” strategy for the mining industry (Mining Weekly):

According to Mining Weekly, the Department of Mineral Resources said last week, as efforts to finalize and gazette the Mining Charter were underway, that a “Vision 2030” for the mining industry, and a strategy for growth and competitiveness of the sector, were also topics under development. This came after the initial meeting of social partners on March 17thand 18th, when two task teams were established on transformation and on competitiveness and inclusive growth..."

 

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N°317 - 9th April 2018
Global Market Outlook
 

"Zimbabwe wants mining companies to list on local exchange (Mining Weekly):

 

According to Mining Weekly, the Zimbabwean government put forward its Mines and Minerals Bill before parliament last week where it said that “no mining right or title shall be granted or issued to a public company unless the majority of its shares are listed on a securities exchange in Zimbabwe”. Under this proposition, companies that seek mining rights in Zimbabwe and which are already listed on a foreign exchange have to notify the mines minister, and 85% of the funds from the local listing must be used exclusively to develop the local business…"

 

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N°316 - 3rd April 2018
Global Market Outlook
 

"Chart 1 shows that Chinese Cr ore stocks at its portswere downby 2% last week, remaining over 2.5 Mt and dropping to 2.69 Mt. Charts 2 and 3 - Lastweek, Turkish lumpy ore (light blue curve) and concentrate (dark blue curve) were down according to FerroAlloyNet. All other prices were unchanged..."

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N°315 - 26th March 2018
Global Market Outlook
 

"South Africa: government not intent on scrapping the new Mining Charter (Mining Weekly, Mining News):

Speaking in Pretoria last week, new Mineral Resources Minister,GwedeMantashe, said government was not going to start the Mining Charter from scratch, despite criticism from various organisations. He stressed that Mining Charter 3 would be the basis of the negotiation of a new charter with industry, despite hope from key players that he would start discussions using Mining Charter 2 as a baseline. “We cannot start from a clean paper; we have a Mining Charter and we are willing to discuss and amend certain aspects of it…The first problem, that we were not talking, has already been resolved,” he said, alluding to discussions held the previous weekend with the Chamber of Mines and various stakeholders around Mining Charter 3..."

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N°314 - 19th March 2018
Global Market Outlook
 
"Zimbabwe: government expects between 4.5% and over 6% growth for 2018 (The Herald):

Finance and Economic Planning Minister Patrick Chinamasa saidZimbabwe will meet its 4.5% economic growth projections for 2018, with a possibility of breaching the 6% mark. According to the Minister, the bullish economic outlook will be based in the proposed policy and economic reforms spearheaded by President Mnangagwa since he took his oath of office last November. The new regime has emphasised re-engagement at a global level, security of investment, respect for property rights, zero tolerance for corruption, arrears clearance, as well as policy clarity and consistency in its drive to restart an economy that has suffered lack of foreign direct investment (FDI) for the past 16 years amid Western sanction..."

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N°313 - 12th March 2018
Global Market Outlook
 
"Canada: the Prospectors & Developers Association of Canada (PDAC) draws huge crowds (Mining Weekly):

Considered the largest mining industry event in the world, the PDAC’s 2018 convention, which was held last week in Toronto, was true to its reputation. It drew a total of 25 606 investors, analysts, mining executives, prospectors, geologists, Indigenous peoples, government officials and students from more than 125 countries and sent a clear sign that optimism is returning to the mineral exploration and mining industry according to Mining Weekly. PDAC, in partnership with the World Economic Forum, hosted the International Mines Ministers Summit for the third year parallel to its event, bringing together 26 mining ministers from around the world – the largest turnout to date…"

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N°310 - 19th February 2018
Global Market Outlook
 
"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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