Iron Market News Directory

Morgan Stanley Calls for Iron Ore Rebound

Bloomberg reported that Morgan Stanley is calling for an "end-of-year rally" for iron ore prices. The analysts saw supply closures and rising steel demand as drivers behind a rebound, although they did say that the base metal could fall slightly lower before coming back.

Low Iron Ore Prices Could Soon Cause Closures, Analysts Say

Reuters reported that iron is set to fall for the fifth week in a row as the surplus continues and China's steel market looks weak. However, Matt Fusarelli, an analyst at AME Group in Sydney saw prices rebounding to "perhaps $95 a tonne towards the end of the year," forecasting production closures and a tightening of supply.

High Spending Days for Iron Are Over

As iron prices tumble to five-year record lows, The Sydney Morning-Herald is reporting that Australian companies are pulling back from spending vast amounts of money on iron projects. According to The Sydney Morning-Herald: Not even the most optimistic are suggesting that the days of super profits from this industry are set to return. It’s a [...]

Iron Ore Sinks to Five-year Low

The Sydney Morning Herald reported that the benchmark price for iron ore for immediate delivery to Tianjin, China has slipped to a five-year low of US$83.40 per tonne.

Big 3 Iron Miners Keeping Up Volume, Price Balancing Act

Reuters columnist Clyde Russell wrote today that iron ore miners BHP Billiton (NYSE:BHP) Rio Tinto (NYSE:RIO) and Vale (NYSE:VALE) are bent on keeping their dominant position in the market by increasing low cost production. The strategy will depend on whether demand from China will continue to support prices, according to the author.

India Not Planning to Restrict Exports of Iron Ore

The Deccan Chronicle Reported that although India is attempting to curb illegal money, the country will not restrict its exports of iron ore. According to the Chronicle, Minister of State for Steel Vishnu Deo Sai has stated that the country will still have enough ore to supply domestic steelmakers.