普氏日报2013-6-11.pdf

[STEEL ] SBB STEEL MARKETS DAILY COVERING THE RAW MATERIALS INPUTS TO STEELMAKING /PlattsSBBSteel Volume 7 / Issue 111 / June 11, 2013 Ansteel to take bigger stake in Karara iron Iron ore market Melbourne—China’s Anshan Iron Steel the two companies. Gindalbie said the pro- is poised to take a majority share in the $2.6 posed new arrangement would leave it debt Iron ore prices stable, low billion Karara magnetite project in Western free and with more than A$35 million ($33 mill stocks may spark buying Australia following a financial and owner- million) in cash to spend on the project. ship restructuring with joint venture partner The current downturn in the resources Singapore—The seaborne spot iron Gindalbie Metals, the Australian company sector would have made it difficult for ore market remained static and sleepy said Tuesday. Gindalbie to tap equity markets to continue Tuesday, with the world’s largest buyer Perth-based Gindalbie has struggled with funding operations at Karara. Magnetite pro- — China — still out for the Dragon Boat a working capital shortage due to delays in jects are extremely capital intensive due to Festival holiday. lifting production capacity at Karara, resulting the amount of processing required to turn low- Amid the malaise, uncertainty contin- in fewer shipments of magnetite concentrate grade ore into a final concentrate product ued to be the order of the day, with