India’s iron ore prices were firmer this week as heavy Chinese purchasing continued, and shrinking local supplies promise more gains ahead. Gaurav Atha, managing partner at K.N. Ram & Co, a miner and exporter in east India, stated: Demand is good. It is better than last week. There is some shortage in supplies. It does [...]
Rio Tinto, the world’s third leading mining company, that its iron ore output surged 8 percent in the second quarter and that it expects a recovery in Chinese steel demand in the second half of the year. For full story, click here
ArcelorMittal Vice President Roland Verstappen declared that it hoped to cooperate with Chinese steel makers in iron ore exploration and mining. For full story, click here
India’s iron ore prices were steady on Friday compared with the previous day, on strong Chinese inquiries but trading was limited by a port strike and a looming tax hike in the upcoming budget. Rakesh Jain, export manager of Steer Overseas Pvt Ltd in Bhubaneswar in eastern India, stated: We have not booked any orders [...]
Platts declared that Rio Tinto has continued to sell substantial volumes of iron ore on the spot market and that its bottom line could be hit by ongoing price negotiations with its Chinese customers. For full story, click here
India’s iron ore prices eased from last week’s three-month highs as China purchasers pushed for lower prices, but Chinese steelmakers continued to build up stocks on fears of a breakdown in talks with iron ore suppliers. For full story, click here
WA Business News declared that the state’s iron ore juniors are predicted to reap the rewards from the collapse of the Rio Tinto and Chinalco deal, with Chinese investment likely to flow to emerging iron ore producers. For full story, click here
India Globalization Capital Inc, a company competing in the rapidly growing materials and infrastructure industry in India, declared that it has secured a USD 2.6 million contract to supply a Chinese company with iron ore. The order is for 40,000 tonnes of ore with a ferrous content of 62.5%. 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
Chinese iron ore imports have seemed to add to evidence from a surging manufacturing index, rebounding steel prices and a spike in freight rates that China is back as the main driver for a commodities rally. For full story, click here
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