Metals

Copper near 6-week high, China recovery hopes support Copper was little changed on Tuesday, hovering near a six-week high hit the previous session on optimism that top copper consumer China is on the road to recovery, but concern over U.S. economic and fiscal issues kept prices in check. 5/12/2012
China Aluminium: Domestic, export ADC12 prices edge higher as costs rise The Chinese domestic price of aluminum alloy ADC12 was assessed marginally higher at Yuan 16,000-16,300 ($2,544-2,592)/mt ex-works Tuesday, compared with Yuan 16,000-16,200/mt a week ago, amid higher offers heard in the market. 5/12/2012
Brazil's Vale Sees Iron-Ore Prices Less Volatile in 2013 Brazilian mining company Vale SA, the world's biggest producer of iron-ore, sees prices for the steel component hovering around current levels in 2013, with less volatility than this year, company executives said. 5/12/2012
Coal Demand Fell 9.9% in 2012 on Gas and Weather, DTC Says Coal demand in the U.S. fell 9.9 percent in 2012 because of a mild winter and cheap gas that robbed coal of market share for electricity production. 5/12/2012
Shanghai steel snaps 5-day fall on upbeat China PMI Shanghai steel futures jumped 1.6 percent on Monday, snapping a week-long fall, following more evidence that China's economy is on the mend, although demand for raw material iron ore is likely to stay subdued along with winter steel sales. 4/12/2012
Vale SA: Capital and R&D Expenditures budget of US$ 16.3 billion for 2013 Vale S.A. (Vale) announces that its Board of Directors has approved the investment budget1 for 2013, involving capital expenditures of US$ 10.1 billion for project execution and US$ 5.1 billion dedicated to sustaining existing operations, as well as US$ 1.1 billion for research and development (R&D) expenditures. 4/12/2012
Lower stainless steel prices likely to prompt higher demand

Despite prices and inventory levels being low, stainless steel buyers have remained cautious in recent weeks. They have been concerned that transaction values in the immediate future are difficult to predict, particularly in the extent to which they are driven by the value of nickel on the international commodity markets.
3/12/2012
Brazil Vale Seen Unveiling $15.1 Billion Capex Budget for 2013 Brazilian mining giant Vale on Monday is expected to present a moderately reduced investment budget for 2013, reflecting a widely telegraphed round of corporate belt-tightening amid lower iron-ore prices. 3/12/2012
India copper, zinc demand seen up lead down Demand for base metals in India could rise next week, particularly for copper and zinc, helped by a surge in construction activity and on higher buying of geysers and other heating equipment, as winter sets in. 3/12/2012
Gold, Silver, Platinum, Palladium prices to rise sharply in 2013: Commerzbank Gold, silver, platinum and palladium prices are set to rise sharply next year, with yellow metal finally topping $2,000 an ounce, said Commerzbank in a commodity research note. 3/12/2012

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5/21/2013

A.M. Nomikos buys $20.1 mln bulker - brokers


A.M. Nomikos of Greece has acquired bulk carrier TANGO QUEEN (dwt 55,649 blt 2007 Japan) at the price of USD 20.1 million, according to broker reports.

Also in the secondhand bulker market, Greeks have snapped up the BOTAFOGO (dwt 76,623 blt 2001 Japan) and BARBARA (dwt 73,317 blt 1997 S.Korea) bulkers for USD 12.5 million and USD 7.5 million respectively.

Furthermore, containership HANSA CALEDONIA (dwt 21,563 blt 1998 S.Korea, 1,645 TEU) has also gone to Greeks for USD 4.8 million.





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