China’s “zero tolerance” warning to commodity speculators over the weekend sent prices of some metals and iron ore tumbling. A meeting held on Sunday between at least five government departments, including the the National Development and Reform Commission (NDRC), concluded that the fight against hoarders and speculators leading to soaring commodities prices would be taken […]
Tag: Iron Ore
Iron ore prices hit trading limits in Asia
Iron ore prices’ relentless rise this year went into overdrive Monday, hitting a +10% limit up and prompting the Dalian Commodity Exchange to raise trading limits and margin requirements in an effort to calm speculation. Separately, the Shanghai Futures Exchange said it would set fees for closing positions on its steel rebar and hot-rolled steel […]
This Morning in Metals: Iron ore prices to remain elevated in 2021
This morning in metals news: MetalMiner’s Stuart Burns weighed in on the outlook for iron ore prices and steel prices throughout the remainder of this year; the unemployment rate was unchanged in April; and the copper price has soared past the $10,000 per metric ton mark. Does your company have a steel buying strategy based […]
This Morning in Metals: May MMO report; crude oil imports; IEA on critical minerals
This morning in metals news: MetalMiner released its May MMO report earlier this week; US crude oil imports from OPEC are down; and the International Energy Agency issued a report on clean energy and the expected surge in critical mineral demand. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help […]
Tangshan steel curbs could have ripple effect on steel, iron ore
The recent curbs on steel making by the local government in one of China’s largest steel-producing cities, Tangshan, may have a cascading effect on steel procurement & demand, as well on iron ore supplies, some experts believe. The Tangshan restrictions are in effect from March 20 to Dec. 31, 2021. Among other things, the restrictions […]
Iron ore price reaches 10-year high but retraces after Five-Year Plan details
Seaborne iron ore prices hit a 10-year high this month at $178 per ton before profit taking. Investors bet on strong steel demand and robust consumption in top consumer China. Iron ore price and pollution in China But following the release of details in China’s new Five-Year Plan calling for wide-ranging and ambitious targets to […]
Indian industry groups put pressure on ministers to ban iron ore exports
A chorus of protests against Indian iron-ore exports — with associations of sponge iron and steel-forgings manufacturers making common cause with the India Steel Association (ISA) — has brought pressure on ministers to ban exports of iron ore. Of those exports, 90% goes to China. The groups are protesting in a bid to support domestic […]
This Morning in Metals: Rio Tinto iron ore shipments rise 2% in Q4 2020
This morning in metals news: Rio Tinto’s iron ore shipments rose 2% year over year in Q4 2020; the Energy Information Administration forecast 2021 will see less power generation from natural gas this year; after rising during the first week of 2021, the LME three-month aluminum price has since been sliding. Rio Tinto reports rise […]
Have we already seen peak iron ore prices for this year?
Iron ore — or at least iron ore producers — have had a pretty good pandemic. Get social with us. Follow MetalMiner on LinkedIn. Recovering iron ore output In Brazil, historic environmental restrictions and, at least in Q1 2020, heavy rains hampered Vale’s operations. In addition, the miner faced an ongoing impact on its workforce due […]
This Morning in Metals: EIA releases Short-Term Energy Outlook
This morning in metals news: the Energy Information Administration (EIA) released its Short-Term Energy Outlook; the China Iron and Steel Association (CISA) wants to know why iron ore prices are soaring; and the CEO of Cleveland-Cliffs touted the company’s plans for steel in the region after its acquisition of ArcelorMittal USA. Cut-to-length adders. Width and […]