The exports of iron ore, a key ingredient in steel manufacturing, plunged by 54 per cent in March from the year-ago period due to slowdown in world’s major economies like the US and the Europe. For full story, click here
Platts declared that strong spot market iron ore and related freight activity has helped push Capesize iron ore freight rates on key routes to three-month highs as ship availability remains tight amid the steady offtake of vessels. For full story, click here
China’s steelmakers have not given any ground in benchmark iron ore price talks and has denied reports that they could soften their insistence on a 40 percent price cut. Shan Shanghua, secretary general of the China Iron and Steel Association, stated: The position of the Chinese side has never changed. For full story, click here
Anglo American plc. declared that it’s Production Report for the January to March quarter of 2009, which shows iron ore production during the period totalled 9.992 million tonnes a surge of 1.802 million or 22% from 8.190 million tonnes produced in the previous corresponding period. For full story, click here
Indonesia’s PT Earthstone Resources announced that it plans to produce 3 million tonnes of iron ore this year after starting output at one of its mines on Sumatra island. For full story, click here
It is declared that domestic casting pig iron and ductile cast iron markets tend better but perform differently in different areas. For full story, click here
The Financial Express declared that India’s iron ore business faces a major challenge. It is a challenge for survival. For full story, click here
ICAP Plc. has declared that it has launched a new brokering service for global iron ore derivatives, offering market participants the ability to offset risk exposure in the base metal. Paul Newman, Managing Director of ICAP Energy Ltd., stated: By combining ICAP’s voice brokering expertise with its global electronic footprint we are well placed to [...]
CIS countries nose up to USD 280 per tonne to USD 300 per tonne FOB Black Sea at present. Local producers predicted a rally at the end of this month, but no transaction has been reported now. For full story, click here
Hunan Valin Group is accelerating the consolidation pace following the overall strategic cooperation with FMG, the third leading iron ore miner in Australia. For full story, click here
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