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| Xstrata releases H1 production report |
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| Code:MFN002807 Prpduct:Ferro Chrome Date: 2010-07-29 |
Mining group Xstrata Plc released HI production update ended June 30th 2010
Highlights
1. Production volumes increased for ferrochrome, PGMs, Australian coking and semi-soft coal, refined nickel, zinc in concentrate and lead in concentrate compared to the first half of 2009
2. Ferrochrome production rose by 149% in response to improved market conditions. The third quarter ferrochrome benchmark price was settled at USD 1.30 per pound
3. Australian coking coal production was 73% higher following the resumption of longwall operations at Oaky No 1 in August 2009 and increased productivity at Oaky North. Semi soft production increased by 50% at the expense of thermal coal volumes to take advantage of higher market prices
4. During the first half, Xstrata Coal commissioned the underground Blakefield South mine in Australia that will replace Beltana and is ramping up to reach full capacity in the third quarter of 2010 and continued the ramp of the recently completed Goedgevonden Greenfield open cut operation in South Africa, to its capacity of 12 million ROM tonnes per annum.
5. Xstrata’s share of Collahuasi’s copper production increased by 8% to 117,363 tonnes, due to improved mill throughput, ore grades and metallurgical recoveries. Higher copper grades improved production at Kidd Mine
6. Total refined nickel increased by 8% as the integrated nickel operations maximized capacity through processing all of Xstrata Nickel Australasia’s feed. In April, Nickel Rim South commenced full mine operation and is on track to reach full capacity of 18,000 tonnes of nickel in concentrate per annum in 2011
7. The ongoing transformation of Xstrata Zinc through expansions and productivity improvements at the Australian operations contributed to a 6% increase in production of zinc in concentrate. Zinc metal and lead metal volumes increased with all smelters operating at full capacity. |
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| 08 Sep 2010 | | | Cash Ask | 3M Ask |
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| Copper | 7620.00 | 7635.00 |
| Aluminium | 2120.50 | 2150.00 |
| Zinc | 2170.00 | 2197.00 |
| Lead | 2151.00 | 2179.00 |
| Nickel | 22450.00 | 22400.00 |
| Tin | 20980.00 | 21075.00 |
| Al.Alloy | 2230.00 | 2130.00 |
| NASAAC | 2081.00 | 2110.00 |
| Steel Billet | 506.00 | 527.00 |
| Cobalt | 41000.00 | 40700.00 |
| Molybdenum | 35300.00 | 36000.00 |
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2010-09-09 |
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| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
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MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.00/lb
As of Sept. 3, 2010
(updated twice weekly)
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