Category: Iron Ore

Iron ore price tumbled on Wednesday after the Shanghai Futures Exchange vowed to look into “abnormal transactions”, piling on the government’s earlier attempts to temper commodity inflation through warnings. Iron ore price on the Dalian Commodity Exchange dropped 6.1% to 994.50 ($155.59) yuan a tonne, just above the day’s low of 992 yuan ($155.20), its weakest since April 12. Shanghai construction steel rebar ended daytime trading 6% lower at 4,667 yuan ($729.79) a tonne, after earlier touching 4,661 yuan, its lowest since March 24. Trading began with markets already under pressure… Read More Here

Iron ore prices rose on Tuesday, boosted by strong Chinese demand. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $170.90 a tonne, up 1.43% from the previous trade. China’s steel prices also jumped to record highs, on concerns over supply curbs in the world’s biggest producer and exporter of construction and manufacturing material. Construction steel rebar’s May contract on the Shanghai Futures Exchange ended the daytime trading session 2.1% higher at 5,180 yuan ($791) a tonne, after earlier climbing to… Read More Here

Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since iron ore prices hit a decade-low average of $55 per tonne in 2015, market analyst Fitch Solutions predicts in its latest industry report. Fitch forecasts global mine output growth to average 2.4% over 2021-2025 compared to the negative 2% over the previous five years. This would lift annual production by 378 million tonnes in 2025 compared to 2020 levels, roughly the equivalent of India and Russia’s combined 2020 output, Fitch says. Brazil Brazil’s iron… Read More Here

Iron ore prices bounced back on Monday after a slight decline on Friday, as demand remains strong in China’s steel sector and doubts have been raised about Brazilian shipments. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $175.96 a tonne, up nearly 1.38% from Friday’s trade. Capacity utilization rates at 247 furnaces across China rose to 92.19% on February 19, from 90.94% before the Lunar New Year holiday. Lower shipments from Brazil are supportive of iron ore prices, according to Brazilian XP Investimentos.… Read More Here

Iron ore prices jumped on the first day of trading since the Lunar New Year in China, reaching their highest level since September 2011. According to Fastmarkets MB, benchmark fines of 62% Fe imported into northern China (CFR Qingdao) changed hands to $ 175.05 a tonne, up nearly 4.9% from Wednesday’s trade and by 9% since the beginning of the year. Brazil’s daily 65% ​​Fe iron ore index rose 4.2% to a record $ 198 a tonne. In China, labor force participation rates did not slow down as much as… Read More Here

Iron ore prices bounced on Wednesday after analysts at Credit Suisse and Morgan Stanley offered bullish forecasts for the steelmaking raw material. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $152.65 a tonne, up nearly 2% from Tuesday’s trade. Iron ore reached its highest level since September 2011 in mid-January, but has since declined 12% on expectations of normalizing supply from Vale, the world’s top producer, and a cooldown in record-setting demand from China. Credit Suisse, in a note quoted… Read More Here