A South American multinational corporation is investing a whopping RM9bn in an iron ore distribution centre for Asia at Manjung, Perak in Malaysia.
Perak Mentri Besar Datuk Seri Dr Zambry Abd Kadir said the project was already in its final stages of discussion and could possibly be one of the state’s biggest investments to date.
“We estimate to sign the agreement some time next week,” he said after meeting with the company’s representatives in his office here yesterday.
He said the centre, where imported iron ore would be processed into pellets, would be the company’s second largest distribution centre after its base in South America.
Dr Zambry said the company would inject a further RM5.6bil in the next two phases.
He said the company chose Perak because they saw it as the gateway to Asia and the state’s ports and direct access to international waters.
A 526ha site in Manjung had been earmarked for the project, with the built-up portion occupying a third of the area and the rest acting as a buffer zone, he added.
He also gave his assurance that the project would not cause any negative impact to the environment.
Source: The Star, Malaysia
Showing posts with label malaysia. Show all posts
Showing posts with label malaysia. Show all posts
Thursday, June 11, 2009
Sunday, April 19, 2009
Manganese Ore Prices Continue To Weaken
As the quantity of ferroalloys produced in China is unable to increase, there is a continuous fall in price for imported manganese ore imported by China. Some manganese mines have been facing the difficulty for sales of low grade manganese ore with Mn 40% max., which is produced and supplied by Malaysia and Indonesia amongst others.
In order to hold down these growing countries, major manganese mines have adopted the strategy to offer medium grade manganese ore with Mn 44% to 45% for China at a price level of USD 5.00 per Mn 1% CIF for shipments in the first half of 2009. A fall to USD 3.00 per Mn 1% has not been ruled out.
The spot price of low grade manganese ore with Mn 40% max for China has already fallen to a level of USD 3.50 per Mn 1% CIF China for South African ore and the same grade produced in Cote d'Ivoire has been quoted at less than USD 4.00 per Mn 1% CIF. Some Chinese producers of manganese ferroalloys have aimed to purchase low grade manganese ore at a lower price than USD 3.00 per Mn 1% CIF.
China imported 632,000 tons of manganese ores in the first 2 months of 2009, a decrease of 41.5% compared with the same period of 2008. Some manganese mines offered medium grade lumpy manganese ore with Mn 44% at USD 16.20 to USD 16.30 per Mn 1% CIF China for shipments in the October to December quarter of 2008 and as a result the imports of manganese ore from such major sources as South Africa, Australia, Brazil and Gabon into China have decreased to a large extent.
The quantities of manganese ore imported from main sources into China in January to February of 2009 were from Australia 96,000 tons, from Brazil 49,000 tonnes, from Gabon 111,000 tonnes and from South Africa 116,000 tonnes.
On the other hand, the quantities of low grade manganese ore imported from growing countries into China in January to February of 2009 were from Malaysia 71,000 tonnes and from Indonesia 25,000 tonnes having shown a substantial increase. The cost price of low grade manganese ore produced in these growing countries is estimated to be higher than USD 5.00 per Mn 1% but, according to the customs statistics released in China, the unit prices of low grade ore imported from these growing countries into China were on a level of USD 3.00 to 4.00 per Mn 1% CIF.
In view of the fact that spot price of medium grade manganese ore with Mn 44% to 45% in January to March quarter of 2007 was on a level of USD 3.00 per Mn 1%, it is anticipated to return to this price level in an unexpectedly earlier time, due to a sharp decrease in Chinese ferroalloy production.
Source: Steel Prices India
In order to hold down these growing countries, major manganese mines have adopted the strategy to offer medium grade manganese ore with Mn 44% to 45% for China at a price level of USD 5.00 per Mn 1% CIF for shipments in the first half of 2009. A fall to USD 3.00 per Mn 1% has not been ruled out.
The spot price of low grade manganese ore with Mn 40% max for China has already fallen to a level of USD 3.50 per Mn 1% CIF China for South African ore and the same grade produced in Cote d'Ivoire has been quoted at less than USD 4.00 per Mn 1% CIF. Some Chinese producers of manganese ferroalloys have aimed to purchase low grade manganese ore at a lower price than USD 3.00 per Mn 1% CIF.
China imported 632,000 tons of manganese ores in the first 2 months of 2009, a decrease of 41.5% compared with the same period of 2008. Some manganese mines offered medium grade lumpy manganese ore with Mn 44% at USD 16.20 to USD 16.30 per Mn 1% CIF China for shipments in the October to December quarter of 2008 and as a result the imports of manganese ore from such major sources as South Africa, Australia, Brazil and Gabon into China have decreased to a large extent.
The quantities of manganese ore imported from main sources into China in January to February of 2009 were from Australia 96,000 tons, from Brazil 49,000 tonnes, from Gabon 111,000 tonnes and from South Africa 116,000 tonnes.
On the other hand, the quantities of low grade manganese ore imported from growing countries into China in January to February of 2009 were from Malaysia 71,000 tonnes and from Indonesia 25,000 tonnes having shown a substantial increase. The cost price of low grade manganese ore produced in these growing countries is estimated to be higher than USD 5.00 per Mn 1% but, according to the customs statistics released in China, the unit prices of low grade ore imported from these growing countries into China were on a level of USD 3.00 to 4.00 per Mn 1% CIF.
In view of the fact that spot price of medium grade manganese ore with Mn 44% to 45% in January to March quarter of 2007 was on a level of USD 3.00 per Mn 1%, it is anticipated to return to this price level in an unexpectedly earlier time, due to a sharp decrease in Chinese ferroalloy production.
Source: Steel Prices India
Thursday, April 16, 2009
SE Asia Steelmakers Speculate On Iron Ore Price
Steelmakers in South East Asia are paying special attention to negotiations on the yearly iron ore contracts and expect the benchmark price to decrease 44~45% to release cost pressures on the production of steel.
Sources in Malaysia suggest the iron ore price will be cut by 40~50% and PT Krakatau, the biggest steel producer in Indonesia estimates that the pig iron price will decline by 40% and the new price will be confirmed this week or next week.
Source: Alibaba News Channel/MetalBiz
Sources in Malaysia suggest the iron ore price will be cut by 40~50% and PT Krakatau, the biggest steel producer in Indonesia estimates that the pig iron price will decline by 40% and the new price will be confirmed this week or next week.
Source: Alibaba News Channel/MetalBiz
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