Metal

Iron Risks Plunge to $40s as Marex Sounds Second-Half Alarm

Posted on by The Editorial Team
Iron Risks Plunge to $40s as Marex Sounds Second-Half Alarm

LAGOS (Capital Markets in Africa) – Iron ore prices that have steadied in recent weeks after a spectacular two-month rout may be set for another steep leg down in the second half, according to Marex Spectron, which forecasts that the commodity is at risk of sinking into the $40s as mine supply expands. “What we’re seeing six months from now are weaker demand and higher supply,” Georgi Slavov, head of research at the commodity broker, said in an…

Read More

ArcelorMittal South Africa Plans $170 Million Black-Owned Stake

Posted on by The Editorial Team
ArcelorMittal South Africa Plans $170 Million Black-Owned Stake

JOHANNESBURG, Capital Markets in Africa: ArcelorMittal South Africa Ltd. plans a 2.3 billion-rand ($170 million) deal that involves the country’s former deputy finance minister as the continent’s biggest steelmaker seeks to meet the government’s objectives of boosting the participation of black people in the economy. AMSA, as the Vanderbijlpark, South Africa-based unit of ArcelorMittal is known, will issue a 17 percent shareholding to a specially formed black-owned company, Likamva Resources Pty Ltd., the steelmaker said in…

Read More