Posts by Hellenic Shipping News Worldwide:

Alpha Natural Resources’ unit wins Wyoming coal tract

In another sign that leasing new coal tracts in the Powder River Basin is becoming unusually competitive, Alpha Natural Resources' winning bid on Wednesday for a Wyoming coal tract also sought by a subsidiary of Peabody Energy was the highest per mineable short ton the Bureau of Land Management ever received for a Wyoming PRB tract.

India keeping more iron ore at home

India’s iron ore exports, which fell for the first time in a decade last year, could halve over the next five years as the country feeds the expansion of its steel industry. Lower shipments from the world’s number three exporter should help bolster

2011 copper demand to grow 3.6%

Even though problems with the US economy and Euro zone will persist, Copper demand is unlikely to fall this year, Jon Barnes, principal consultant at UK’s CRU group said. CRU expects copper demand to rise 3.6% at 19.2 million tonnes this year. Copper at the London Metal Exchange (LME) had crashed this week to a low of $8446.25 amidst fear of a global slowdown.

Copper seen above $4 a pound on China recovery says Codelco

Copper prices may remain above $4 a pound in coming months, driven by a recovery in demand from China, according to Codelco, the world's largest producer. Chinese inventories seem to have decreased and now the industry is catching up again," Diego Hernandez, chief executive officer of the Chilean state-owned company, said in an interview on Bloomberg Television. Output from Chile, the world's largest copper producer, may miss a target of 5.6 million metric tons in 2011 by 5 percent because of project delays, weather disruption and strikes at mine sites. Codelco plans to spend about $20 billion this decade to boost annual production to meet forecast rising global demand for copper.

Iron ore imports in China’s Heilongjiang Province double, price up 41%

According to the local customs authorities, in the first half of this year the iron ore imports of China's Heilongjiang Province reached 2.507 million mt, which is 1.2 times the volume recorded in H1 last year. The 2.507 million mt was worth a total of $410 million. The average iron ore import price was $163.4/mt, up 41 percent year on year. Russia remained the leading source of imported iron ore arriving in Heilongjiang.