In an effort to boost earnings within its commercial division, Anglo American has been shaking things up a bit. Most recently, the company announced that it had recruited David Trotter, “the former strategic marketing manager at trading house Cargill, as its new head of iron ore sales,” reports Reuters.
Coming in with an interesting background, “Trotter, who has also worked at Anglo’s rival miners Fortescue, Cliff Natural Resources and BHP Billiton in the past, will take on the role of head of iron ore sales, based in Singapore, on Oct. 27, Anglo American confirmed.”
Trotter’s new position “had been vacant for a long time since the departure of Daniel Taylor, according to a source close to the situation. Trotter will report to Anglo’s head of iron ore marketing and logistics Timo Smit.”
On Tuesday, September 9, the cash price of primary Indian nickel experienced the biggest change, rising 1.2 percent to INR 1,204 ($19.91) per kilogram. After improving for two days, the nickel spot price declined 0.8 percent on the LME to $19,225 per metric ton. The 3-month price of nickel changed direction with a 0.6 percent drop. After two days of improving prices, the metal finished at $19,325 per metric ton on the LME.
Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,351) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,610) per metric ton.
The Allegheny Ludlum 316 stainless surcharge saw essentially no change for the fifth day in a row, remaining around $1.26 per pound. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,234) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,670) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,622) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,670) per metric ton.