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Chinese Iron

Brazils Vale well placed as Chinese steelmakers warm up

Companhia Vale do Rio Doce (Vale) has recently been climbing back from lows caused by the severe drop in demand for its principle feedstock, iron ore. However, there are signs that the Brazilian mining giant may be turning the corner, as the Baltic Dry Index (BDI) has begun to show some activity off the back of speculation that the steel industry is picking up, particularly in Asia.

Vale said steel output across Asia declined by only 8.9% in the first quarter, despite the Japanese recession. This would indicate continuing strength in Chinese demand, compared to North American steel output falling by 52% & European output declining by 44%. Furthermore, Vale said its first-quarter copper output was unchanged year-on-year, aided by Chinese consumer demand for durable goods.

Steel demand is set to stabilize in the latter part of 2009, leading to “mild” recovery in 2010, according to the World Steel Association. German car registrations in March rose to the highest since 1992 after the government began paying owners to trade in old vehicles for new models. Sales in China of cars, minivans and multipurpose vehicles rose to a record in April. Car makers are the fourth-biggest steel consuming indutry, according to the association.

“The first-half will be pretty poor, but by the third or fourth quarter demand will improve,” said Peter Fish an analyst at UK based metals consulting company MEPS International Ltd. “The time is approaching when so-called destocking, in which customers use up inventories, ends and new orders will be made”

China’s imports of iron ore also spiked dramatically in February & March,  as larger iron ore producers such as Vale & Rio Tinto have been selling their iron ore to Chinese customers at a discount. Based on comments from the China Iron & Steel Association, it’s possible that small Chinese steel mills are taking advantage of the opportunity to buy higher-grade imported ore at attractive prices. Previously, imported ore was only available to large mills.

A recent report in Tradewinds shows that Vale chartered 25 Capesize vessels last month for chinese delivery, which should point to flows of iron ore resuming, although a base price for 2009 has still not been agreed with Chinese steelmakers. At present, iron ore is being sold on the spot market at roughly 20-40% discount from 2008 highs of $200 per tonne, by Rio Tinto & BHP Billiton. Valke on the other hand has dropped production & delivery in step with falling demand & has maintained last years benchmark pricing.

Chinese negotiators from Bao Steel had tried to force prices down to 60% of last years benchmark, however it would seem that Vale’s stance regards shipment may have forced China’s hand, as demand for steel is growing. Vale  finished trading on Friday at  $17.42 off of a YTD low of $11.90 on heavier than norma buying activity.

For me Vale is in a much more enviable position than its two main competitors, Rio Tinto & BHP, as they have expended a lot of energy in last years failed takeover bid. Rio Tinto in particular is saddled with huge amounts of debt & no doubt is coming under a lot of political pressure form its would be Chinese bail out “sugar daddy”. I firmly belive that Vale will be able to add at least 50% to its stock price this year & is one of the best value buys in the commodities sector right now.

About the Author

Having garnered an interest in Emerging Markets, I have been blogging on the topic for some time. Areas of interest are Telecoms, Energy & Commodities, with a slant towards ADR & ETF investment.

My blog can be viewed at http://mystockvoice.wordpress.com

Feel free to contact me regards collaboration : mystockvoice (at) gmail.com

Chinese Iron Casting of Head from 1000 A.D $69.99 Chinese Iron Casting of Head from 1000 A.D - Photographic Print

Chinese Iron Man $12.14 A Chinese Boxing student's fighting skills prove too powerful for his own good in this rousing {\kung fu} revenge flick. Despite his status as a lowly student at the Chung Hwa Chinese Boxing Gym, Leung Siu-Fu nevertheless challenges and defeats a fearsome

Iron Chef Chen's Knockout Chinese $14.89 An Iron Chef from the original Japanese television program who fought ninety-two battles during his six-year tenure on the show, presents more than fifty easy and accessible Chinese recipes, each with an unusual approach to familiar ingredients. Original.

The Ancient Chinese $24.4 The emperor was at the top of society in ancient China. Nobles and civil servants tended to his needs and assisted in managing the government. The majority of people in ancient China were peasant farmers, merchants, and craft workers. The Chinese are credited with many important inventions, including the iron plow and magnetic compass. They also developed materials, such as silk and paper.

The Making of the Chinese Industrial Workplace $37 This book traces the origins of the 'iron rice bowl' of comprehensive cradle-to-grave benefits and lifetime employment in Chinese factories. It suggests that, in some ways, the Chinese revolution in 1949 was not as revolutionary as most have thought.

Iron Chef Chens Knockout Chinese By Chen, Kenichi $27 An Iron Chef from the original Japanese television program who fought ninetytwo battles during his sixyear tenure on the show, presents more than fifty easy and accessible Chinese recipes, each with an unusual approach to familiar ingredients. Original. Author: Chen, Kenichi Publication Date: 2009/05/26 Number of Pages: 111 Binding Type: Paperback Language: English Depth: 0.25 Width: 7.25 Height: 9.50

The Chinese Connection - $14.99 One of the best action films starring the legendary Bruce Lee, this movie features the martial artist as Chen Chen, who returns to his former school in early 20th century Shanghai when he learns that his beloved instructor has been murdered. While probing the man's death and seeking vengeance, Chen discovers that a drug smuggling operation, a rival school, and simmering racial tensions between Chinese and Japanese locals are factors in the nefarious dealings at his alma mater and in his master's slaying. Chen's got his work cut out for him as he takes on assassins of both races, and even a towering Russian. Variously titled The Chinese Connection and The Iron Hand, Fist of Fury features stunt work by a young Jackie Chan (who served as Lee's double). The film was remade two and a half decades later as Fist of Legend (1999), with Jet Li in the role of Chen. ~ Karl Williams, Rovi

Iron Chef Chen`s Knockout Chinese (Paperback) $33.43 An Iron Chef from the original Japanese television program who fought ninety-two battles during his six-year tenure on the show, presents more than fifty easy and accessible Chinese recipes, each with an unusual approach to familiar ingredients. Original.

Chinese $10 Chinese - Lily Allen

The Chinese $39.99 Pierre Poulin The Chinese - Giclee Print

Chinese Health Balls (Dragon) $5.99 Chinese Dragon Health Balls. Prolong your life, increase your memory, and gain vital positive energy! The Boading Iron Ball or Chinese Health Balls have been known to stimulate the various acupuncture points in the hand. This type of exercise with the magic health balls can prevent and cure stress, relieve fatigue, and improve general health. By using these Chinese Balls all the joints in the hand and forearm muscles are contracted and relaxed harmonically. Our Sun & Moon health balls ship in assorted colors. Since each ball is individually crafted, slight variation from pair to pair may occur, though each pair has been matched so each ball will match with in it's pair. What are the benefits? According to the traditional Chinese theory of "jungluo", there are various acupuncture points in the palm of one's hand. When exercising with the balls, the acupuncture points are stimulated. This promotes greater health. stimulates blood circulation improves memory relaxes muscles and joints relieving joint stiffness and soreness relieving stress promoting sleep

Chinese Erotic Movies $12.71 Ever wondered what was meant by the phrase God passes iron bridge? Probably not, but this new documentary brings new meaning to this and other Providing an in-depth and red-hot look at ancient and traditional Chinese sexual practices, the film is peppered with scenes from classic films such as CONFESSIONS OF A CONCUBINE, SEX AND ZEN, and the EROTIC GHOST STORY series. Learn about the special techniques practiced by prostitutes of yore that kept their clients coming back for more, how virgins of the time were deflowered, and the long history of

The Chinese Connection [WS] $21.21 One of the best action films starring the legendary Bruce Lee, this movie features the martial artist as Chen Chen, who returns to his former school in early 20th century Shanghai when he learns that his beloved instructor has been murdered. While probing the man's death and seeking vengeance, Chen discovers that a drug smuggling operation, a rival school, and simmering racial tensions between Chinese and Japanese locals are factors in the nefarious dealings at his alma mater and in his master's slaying. Chen's got his work cut out for him as he takes on assassins of both races, and even a towering Russian. Variously titled The Chinese Connection and The Iron Hand, Fist of Fury features stunt work by a young Jackie Chan (who served as Lee's double). The film was remade two and a half decades later as Fist of Legend (1999), with Jet Li in the role of Chen. ~ Karl Williams, Rovi

Iron Will $4.99 Iron Will

Iron $8.49 Iron

Chinese and Chinese Mestizos of Manila $133.65 Chinese and Chinese Mestizos of Manila

Learning Chinese, Turning Chinese $115.73 Learning Chinese, Turning Chinese

Traditional Chinese Designs : Iron-On Transfer Patterns $7.22 No Synopsis Available

Iron Mountain $7.99 Of one of Mark Frutkin's previous books of verse, Poetry Canada Review said it provided "a supernatural fusion of the earthbound with the heavenly to forge the lightning of poetry." Divided into two sections, one inspired by ancient Chinese art, the other limning the ambiguities and incongruities of the contemporary human condition, Frutkin's new volume of poetry, Iron Mountain, often presents human beings wandering in the wilderness between two abysses while still appreciating the smell of pines, the softness of the rain, the brilliance of the stars, the hum of the computer, and the jostle of the crowd on the bus. These are poems of translucent delicacy harbouring hard truths where "A Taoist priest gulps the elixir/of immortality and blows away/in the dust,/a young Chinese girl/bumps me in the crowd/prompting a shiver/like a startled phoenix/dressed in my skin." In Frutkin's vision the entire world is a written landscape that speaks to us of time, of change, of immutability, of radiant emptiness.

Iron And Silk $11.2 This entertaining memoir, a quietly persuasive classic of its kind, is about the journey of a young martial arts-obsessed American to China, where he teaches English to Chinese medical students and studies with a kung fu master.

Iron and Silk $24.74 This entertaining memoir, a quietly persuasive classic of its kind, is about the journey of a young martial arts-obsessed American to China, where he teaches English to Chinese medical students and studies with a kung fu master.

Molten Iron Throwing