Despite predictions of weaker prices, the world’s leading producers are sticking by their plans to open new mines and expand their current operations.
Articles Tagged "iron ore price"
Platts reported that Fomento Resources has sold for the 2nd time spot iron ore priced against Platts 58% iron ore assessments, possibly signaling a new trend of cargoes from India being sold on a floating basis to avoid the impact of price volatility.
Platts reported that information from Germany's federal statistics office indicates that the country's iron ore import prices sank 10.9 percent from September to October, hitting their lowest level in 30 months.
A brief overview of iron price developments, supply and demand, and significant market movers.
Reuters reported with demand from top buyer China still weak, global iron ore prices are not expected to recover in the next few weeks.
SMH reported the price price of Australia's Pilbara iron ore has begun to crack under the pressure of the global economic slowdown.
By Kishori Krishnan Exclusive To Iron Investing News The heat is on. Australian miner Fortescue Metals Group (FMG.AX) said on Thursday that Chinese steel mills are unlikely to get a better deal for iron ore purchases than the 33 per cent reduction agreed by Japanese and South Korean rivals. Fortescue, Australia’s third-largest iron ore miner, [...]
Reports reveal that there may be no Chinese benchmark iron ore price set this year because Chinese mills cannot be trusted to honour their contracts. For full story, click here
Global miners and steel firms are locked in annual talks to settle iron ore term prices for the year starting April 1st and analysts are lowering their price forecasts as a dwindling global economy is set to cut steel output sharply. For full story, click here
By Melissa Pistilli-Exclusive to Iron Investing News The Baltic Dry Index (BDI), what has been referred to as the “canary in the coal mine” for global trade health, rose 7.5 per cent on Friday. This latest development has injected a dose of optimism into the iron ore market. “Indications are that miners have been [...]