Rio Tinto, (NYSE:RIO, ASX:RIO, LSE:RIO) a major producer of iron ore, said it expects Chinese demand for the steelmaking commodity to rise this year, Reuters reported.
Articles Tagged "china"
Reuters reported that China will not grant new licenses to iron ore importers if they will not join in a domestic trading platform, as a way to control pricing.
Despite predictions of weaker prices, the world’s leading producers are sticking by their plans to open new mines and expand their current operations.
Mining Weekly reported that Sundance Resources has resumed trading on Tuesday and announced it has launched talks with potential investors regarding an interest in the company’s Mbalam-Nabeba iron-ore project.
Weaker-than-expected construction activity and new curbs on home buying are raising concerns about iron ore's recent run and are prompting some analysts to lower their price forecasts.
Reuters reported that Brazil’s Vale SA, which is the biggest iron ore producer in the world, sees the price of the metal to rise above $110 a ton this year on China’s strong demand.
The Sydney Morning Herald reported that iron ore prices fell to its lowest since December 2012 as China’s demand for steel decreased.
Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has responded to allegations from China's National Development and Reform Commission that the top three iron ore miners — BHP, along with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Vale (NYSE:VALE) — and some traders manipulated the markets to show a shortage of iron.
Reuters reported that China’s National Development and Reform Commission lashed out at the top three iron ore miners, accusing them of manipulating the market to increase iron ore prices by 80 percent.
Platts reported that iron ore miner, MCC Minera Sierra Grande, will ship iron ore to China according to its general manager, Fernando Zhou.