Bloomberg reported that Vale SA more than doubled its expenses on maritime freight, which amounted to $387M, in the last quarter because it shipped more iron ore on its own growing fleet.
Articles Tagged "Iron"
Bloomberg reported that Rio de Janeiro based iron ore producer, Vale SA (NYSE:VALE), which is the largest iron ore producer in the world, said that the recovery in Chinese manufacturing and construction will be quite beneficial.
Bloomberg reported that iron ore continues to climb as Chinese mills restock, even after posting the largest recorded quarterly climb in the last quarter of 2012. However, according to Deutsche Bank AG, it is set to plunge into a bear market afterwards.
The Sydney Morning Herald reported that iron ore miners in Australia are set to cash in on recovering prices as huge amounts of iron ore were shipped last month.
Reuters reported that Australia’s iron ore shares ended at a 19-month high on Friday, with a gain of 15 percent this year.
Reuters reported that the Shanghai Futures Exchange shows a rise in iron ore futures which traders have attributed to the rising costs as well as optimistic outlook.
Reuters reported that BHP Billiton (NYSE:BHP), the world’s largest miner, has chosen newcomer B&A as its preferred bidder for its iron ore deposits in Mount Nimba.
Reuters reported that mega miners such as Japan’s Mitsubishi Corp have put projects on ice due to the falling prices of iron ore, thereby stalling the completion of Australia’s key port, which could pave the way for a large iron ore belt export to the Asian market.
Reuters reported that the Singapore Exchange wants to set up iron ore futures in January in an effort to keep and attract clients from the U.S. who are dealing with stringent rules in trading OTC derivatives.
Sydney Morning Herald reported that the Bureau of Resources and Energy Economics (BREE) has increased its prediction of the price of iron ore Wednesday, from $US101 to $US106 per tonne.