BHP Billiton announced that its Australian iron ore mines are now up and running and “have resumed full operations following a cyclone that battered coastal regions and closed major shipping terminals this week,” reports Reuters.
“Port Hedland, the world’s biggest iron ore terminal and used by BHP to export nearly 200 million tonnes of the steel-making material annually, sustained only minor damage from Cyclone Christine and reopened late on Tuesday.”
“‘All mines are also fully operational,’ BHP, the world’s third biggest iron ore producer said. ‘If there is any material impact to production it will be reported in the company’s next operational review.'”
In metal price news for steel…
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC held steady. The price of Chinese coking coal was unchanged.
The cash price of steel billet fell 1.7 percent on Thursday on the LME to $295.00 per metric ton after three straight days with no change. The 3-month price of steel billet continues hovering around $285.00 per metric ton on the LME for the fifth day in a row.
The US HRC futures contract 3-month price saw little change in its price on Thursday at $633.00 per short ton. The US HRC futures contract spot price showed little movement on Thursday, hovering around $675.00 per short ton.