Costly iron ore projects are moving forward despite the metal's lagging price.
Articles Tagged "iron ore prices"
The iron ore price surged more than 4 percent on Tuesday, extending gains made on Monday due to better than expected economic news out of China, and a realization that too much destocking has occurred in that country, reported Mining.com.
Iron ore prices dropped to a 7-month low of US$113 per tonne due to weak Chinese steel demand, Business Spectator reported.
Bloomberg reports that rates to ship iron ore fell for a ninth day on speculation Chinese steelmakers will cut back from record-high production as prices fall.
Iron ore has officially entered bear market territory says Motley Fool, quoting Bloomberg.
Strengthening demand in the Chinese steelmaking sector is shoring up the price of iron ore, according to recent media reports.
Reuters reported that according to Vale SA, the iron ore market is doing quite well and due to high demand from China, the price of this steelmaking ingredient will not go below $110 per ton.
Reuters reported that BHP Billiton said the prices of iron ore will decline over the next few years as major iron ore companies have plans to boost production by 2015 and demand from China weakens.
Platts reported that analysts from Deutsche Bank said on Tuesday that iron ore prices may remain steady around the $130-$140/dmt on improved steel demand from China.
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.