Iron Ore - Copperbelt Katanga Mining

Iron ore price frenzy grips China’s mammoth steel sector

December 24, 2020December 24, 2020 admin

Prices for iron ore have more than doubled in 2020, putting the steelmaking raw material on track to be the top-performing major commodity globally for a second straight year as speculative money floods in and Chinese demand holds firm. Steelmakers in China, the world’s biggest producer of the metal, and the operator of its flagship iron ore futures contract have called for a probe into what they say is an “abnormal” price rally that has eroded their margins. The most active iron ore futures on the Dalian Commodity Exchange have… Read More Here

Iron Ore International

ERG to commence production at Brazilian Pedro de Ferro iron mine

December 17, 2020December 17, 2020 admin

Luxembourg-headquartered Eurasian Resources Group (ERG) has announced the start of commercial production at the Pedra de Ferro iron ore mine in Brazil this month. Luxembourg-headquartered Eurasian Resources Group (ERG) has announced the start of commercial production at the Pedra de Ferro iron ore mine in Brazil this month. The mine will begin commercial production with an initial capacity of 2mtpa of high-grade iron ore. Once ramped up to full production, the mine will produce 18mtpa of ore. Pedro de Ferro has an expected mine life of 30 years. ERG is… Read More Here

International Iron Ore

iron ore price continue to rally high

December 8, 2020December 8, 2020 admin

Iron ore prices continued to rally on Monday as Chinese imports top one billion tonnes, port stocks fall and the country’s steelmakers – responsible for more than half the world’s crude output – ramp up production. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $146.93 a tonne on Friday, up 1.3% from Friday’s peg. That was the highest level for the steelmaking raw material since March 2013 and brings gains for 2020 to just shy of 60%. CAPITAL ECONOMICS EXPECTS… Read More Here

Iron Ore

South Africa’s iron-ore sector to benefit from rising Chinese demand

October 7, 2020October 7, 2020 admin

South Africa’s Northern Cape is considered a “fantastic mineral region” and African Rainbow Minerals ferrous division CE Andre Joubert believes iron-ore, besides other commodities, is likely to benefit following the Covid-19 pandemic. Crude steel is a major driver for iron-ore production, he says, noting that China’s crude steel production grew by 3.7% year-on-year from January through to August, whereas steel production in Europe and North America declined by almost 19% over the same period. Bolstering China’s demand for the commodity is the fact that, unlike other countries who took the socioeconomic route,… Read More Here

International Iron Ore

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