Foreign Investment Review Board (FIRB) has approved Emergent Resources Pty Ltd’s A$200-million joint venture (JV) with China’s Beijing China Metallurgical Investment Company (CMIC) on their Western Australian Beyondie iron-ore project. The target for this project between 3,7-billion and 4,2-billion tonnes of iron-ore, grading at between 27% and 28% iron outside the existing resource area. Click [...]
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.
China’s iron ore demand has turned cautious over surging steel inventories, pulling dipped prices by a few dollars on Thursday compared to early this week. For full story, click here
Iron ore prices topped $110 into China this week as the country’s steel mills kept soaking up material, although some market participants expressed concern over the speed of a near doubling in prices since April lows. For full story, click here
China’s iron ore imports edged up in July to the second highest on record, as per the transport ministry, showing that the country’s appetite for the steel-making raw material is undiminished despite bulging stocks and surging prices. For full story, click here
Senior Chinese steel industry officials has called on Beijing to consider abolishing spot iron ore trade and sharply has reduced the number of licensed importers, which they blame for undermining their position in deadlocked iron ore price talks. For full story, click here
Australia, Brazil, India, South Africa and Ukraine become the main iron ore exporter to China. In June China imported 49.94 million tons from these five countries accounting for 90% of the nation’s total iron ore import volume. For full story, click here
When China’s steel executives meet next week for their biannual meeting, issues such as first-half performance and oversupply may take a back seat as the industry body braces itself to be grilled about its protracted iron ore talks with global miners. For full story, click here
Beijing Business Today declared that Wuhan Iron & Steel Corp Ltd one of China’s leading steelmakers is leading the rivals in acquiring oversea iron ore resources. For full story, click here
China Metallurgical News declared that Anshan Steel inked 10 year, USD 233m iron ore transport COA contract with STX Group on July 10th forming a further cooperation based on their memorandum of 2007. For full story, click here
Monday, May 17, 2010