Recent Events

Mining Equipment Shipments at 9-Year Low (August 20, 2014)

PBCo-Surface-Mining-Equipment-Index2Equipment deliveries to surface mining in Q2 were down 20% over Q1 and approximately two-thirds from the peak quarterly shipments level achieved in 1Q 2012. The market has now fallen below the lowest point of the 2009 contraction to levels not seen since the the start of 2005 when the industry was in the early stages of a 5-year growth cycle.

Given the severity of the current contraction, Parker Bay considers the 2Q shipments levels as a bottom for the equipment markets globally. However, several factors point to continued low levels of equipment deliveries including: ongoing weakness in demand for some minerals; reduced pricing for many others; greatly reduced capital expenditure plans for many major mining companies; and substantial numbers of equipment currently idled and for sale.

Visit the Surface Mining Equipment Index page for more information on the evolution of mining equipment shipments through Q2 2014.

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