On Thursday, iron ore prices hit rock bottom due to slow purchases by traders after Beijing, China has resolved to heal the Chinese economy, which means decrease in demand for iron (Fe) in producing steel. London Commodity Brokers is quoted in a report: “There is no sign of a pick-up in the physical market.” Click [...]
Due to a new pricing scheme for iron ore, the steel industry may be facing higher costs and will lose competitiveness in the market as compared with other materials according to the head of the World Steel Organisation said on Monday. Paolo Rocca, chairman of the steel body, “We will have no alternative but to [...]
Minerals Corporation Limited of Wuhan Iron and Steel (Group) (WISCO) has acquired 65 million common shares of Consolidated Thompson Iron Mines Limited (TSX: CLM). The shares were acquired by way of private placement for an aggregate subscription price of C$ 28,748,227.20 or C$ 4.40 per share. The shares were acquired for investment purposes only. For [...]
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
Analysts announced iron ore prices may not dip as heavily as originally predicted, with strong demand continuing from China. For full story, click here
India’s iron ore prices were flat to lower compared with a week earlier, in the absence of long-awaited international benchmark rates, but China’s demand for exports from the world’s No.3 supplier of the commodity remained steady. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
South Korea’s POSCO, the world’s No.4 steelmaker, reported that on Friday it was seeking a 50 percent cut in contract iron ore prices for the year started on April 1. POSCO vice president Kwon Young-tae stated: The price gap is quite wide as miners are demanding a 20 percent reduction but we believe it has [...]
Improving demand is reported to have seen domestic hot briquetted iron prices in India rise by almost $60 per tonne. For full story, click here
Cia. Vale do Rio Doce, international leading iron ore producer, should outperform its rivals in the short term as spot iron-ore prices are close to a bottom. For full story, click here
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