ABB won orders worth $47 million to help Rio Tinto increase production capacity

ABB, the leading power and automation technology group, has won orders worth $47 million to supply power substations to help Rio Tinto increase production capacity at iron ore mines in the Pilbara reg

In its latest analysis of Chinese metals trends, Macquarie Research’s Shanghai office reckons that Beijing’s short sharp energy saving plans, designed to ensure the achievement of its planned cuts per unit of GDP in the current 5-year plan is achieved, will have a positive impact on aluminium prices in particular in the short term.

What the energy cuts mean is that not only will they impact on current production from the ultra-power-hungry sector, but also lead to postponement of the ramp-up of newly installed capacity until next year.  This is seen as positive for aluminium prices in the fourth quarter of the current year.