High iron ore prices are a reality steelmakers have been trying to cope with. There are hopes that recent progress toward lifting an export ban in India will provide some relief, however, those hopes may be met with disappointment.
Prices for iron ore might be on the rise following Friday’s announcement that Karnataka High Court will be continuing to uphold the State’s ban on iron ore exports.
Iron ore prices held steady on Monday, with the benchmark index holding close to a five month high. In the near term, prices may gain extra momentum due to China’s nationwide power rationing policy.
The company’s current challenge within its domestic market will be to remain cost competitive if tariffs are eliminated and demand continues to climb, as the Brazilian currency has also demonstrated very strong relative appreciation.
Due to a new pricing scheme for iron ore, the steel industry may be facing higher costs and will lose competitiveness in the market as compared with other materials according to the head of the World Steel Organisation said on Monday. Paolo Rocca, chairman of the steel body, “We will have no alternative but to [...]
Iron ore demand is increasing among Chinese steel makers and the CISA lead boycott is simply not credible. Iron mining companies recognize this and will not relent from their position, which grows stronger every day that global demand recovers and ore prices rise.
By Kishori Krishnan Exclusive To Iron Investing News With key indicators across developed economies showing an improvement in the quarter, mining heavyweight BHP Billiton Ltd has teamed up with rivals Rio Tinto Group and Posco, Asia’s most profitable steelmaker, in raising iron-ore production. An uptick in demand from automakers and builders has ensured a good [...]
By Kishori Krishnan Exclusive To Iron Investing News The world’s eighth-largest steel maker, India’s Tata Steel Ltd (TISC.BO), has said it expects its European unit Corus to be operating at full capacity by the end of the fiscal year in March. Corus, Europe’s second-largest steelmaker, operated at 80 per cent capacity in October. In a [...]
By Kishori Krishnan Exclusive To Iron Investing News China, the world’s biggest steel producer, is flexing its muscles again. The country is eager to replace the benchmark arrangement price long used by the industry for iron ore imports with one that will give it a bigger say. Last week’s major meeting between the world’s iron [...]
MetalCORP Limited (TSX VENTURE:MTC) announced preliminary results from a re-evaluation of Big Lake property (100% owned) whish is situated 10km southeast of Marathon and 10km southwest of the Hemlo gold mines, Ontario. The press release is quoted as saying The preliminary re-evaluation has identified four zones for further exploration at and around MetalCORP’s BL-14 copper-zinc [...]
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