Interesting goings-on in the metals world:
Chinese To Build Steel Plant in US — China looks to get around more anti-dumping restrictions by producing more of its steel on US soil. The new Tianjin Pipe Group Plant will cost $1 billion and is expected to produce 500,000 tons of pipe.
New BMW Line Features Aluminum, CFRP aluminum and electric cars are paired up, with the new models i3 and i8 to feature aluminum chassis and passenger cells made of carbon composite material.
Barrick to Buy Equinox for $7.69 Billion, Topping Minmetals Bid Barrick Gold Corp., the world’s top gold company, outbid China’s state-owned Minmetals to secure it’s takeover of Equinox, the Australian copper producer. The mines in Zambia and Saudi Arabia now under Barrick’s control will raise the company’s copper output. This is Barrick’s second-largest acquisition, according to Bloomberg.
Platinum’s prospects to get better and better Leon Esterhuizen of RBC Capital Markets weighs in on why continued supply side worries and growing US car demand may make platinum prices rocket in 2012.