Iron Ore - Copperbelt Katanga Mining

Rising supplies to undermine iron ore prices

August 21, 2020August 23, 2020 admin

Iron ore prices may extend their steep gains in coming weeks, buoyed by speculators and supply chain disruptions, but rising supplies are set to eventually undermine the rally. According to Fast markets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $129.09 a tonne on Thursday, up 6.5% over the last week. That was the highest level for the steelmaking raw material since January 2014 and brings gains for 2020 to 40%. The iron ore price is being propelled by China’s stimulus to prop up its pandemic-hit economy… Read More Here

International Iron Ore

Iron ore price rockets to its peak since January 2014

August 19, 2020August 19, 2020 admin

Iron ore prices hit six-and-half year highs on Tuesday as Chinese furnaces, where more than half the world’s steel is forged, roll out crude steel at a never before seen pace. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.57 a tonne on Tuesday, up 5.4% on the day. That was the highest level for the steelmaking raw materials since January 2014 and brings gains for 2020 to nearly 40%. China produced 93.4m tonnes of crude steel in July, the largest monthly… Read More Here

Copper International Iron Ore

China $570 billion stimulus raises hopes for copper, iron ore price

March 13, 2020March 13, 2020 Copperbelt Katanga News

Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. On Wednesday BMO Capital Markets held a conference call with PRC Macro, a consulting firm focused on China’s political economy, about the prospects for 2020 GDP growth in the country. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on infrastructure. PRC Macro says “in order… Read More Here