That news, in addition to continuing strong steel demand in China and optimism that demand elsewhere will rebound in 2021, helped underpin another rise in the spot price of iron ore. Mining. This marked four consecutive weeks of decline. on. December 7, 2020. Subscribe to us and stay updated on current happenings of Steel and Iron Ore commodity. Pricing for 62%, 63%, 65% iron ore grades and iron ore pricing index. Iron Ore Monthly Price - Indian Rupee per Dry Metric Ton. Iron ore prices fell heavily for a second session on Tuesday, dragged lower by weakness in Chinese steel futures and reduced concern over the outlook for Brazilian supply. 10 hours ago. Iron ore seaborne prices stayed relatively stable on Tuesday December 1 due to less physical trading despite the rise in swaps, sources told Fastmarkets. 11 min ago . By Business News. Goa govt blinks first, shows willingness to auction iron ore mines Hindustan Times 09:16 Shell to supply LNG to BHP iron ore vessels Trade Arabia 07:23 Phanar Legal and Sylla & Partners Advise State of Guinea on $14bn Project to Develop the… Australians shares start the week on a high, as iron ore prices hit an almost eight-year record, while e-commerce retailer Kogan is slapped with another fine for… Published. Brazil's worsening COVID-19 crisis and the reduced shipment of iron ore from the South American country have led to a surge in global iron ore prices on the back of resilient demand from China. Iron ore is Australia’s number one export. Description: Iron ore (any origin) fines, spot price, c.f.r. Reuters recorded prices at … China, 62% Fe beginning December 2008; previously 63.5%. Australian iron ore producers are basking in nine-year high prices, with the commodity set to continue at these peaks throughout December, according to Reuters. register now. date: 12/10/2020 location: Virtual Event ... Macquarie's FY22 iron ore price forecast is up 26% to $86.25/t, leading to higher earnings upgrades of 33% for BHP, 76% for FMG, 76% for Mount Gibson, and 112% for MinRes, while Rio's CY22 earnings rise 46% and Champion's rise 119%. Both companies have seen their share prices rise strongly on the strength of the iron ore price with BHP up 57% to $28.50 since dropping to a pandemic-related low of $18.10 in mid-March. By. Shares in Western Australia’s biggest iron ore miners were up today after the commodity‘s price rose 3 per cent to a seven-year high. Iron ore prices are going ballistic Iron ore surges 6% to March 2013 high on Friday as Brazil supply worries, a red hot China economy, and a Beijing-Canberra row convulse seaborne trade. The price of one of Australia's biggest exports to China, iron ore, has hit a seven-year high amidst growing tensions between the two nations.. Iron ore prices hit seven year highs as Chinese economy comes roaring back Iron ore is a critical ingredient in the manufacture of steel The Chinese lockdown ended in May. in Commodity News 19/05/2020. Share to Facebook; Twitter; LinkedIn; Bookmark Save articles for future reference. If iron ore prices fall below that and keep falling this is bad news. Fines/Lumps. At the same time, shrinking steel inventories at mills in China created additional pressure on prices. Currency: Compare to: Source: Thomson Reuters Datastream, World Bank. Iron Ore Price Outlook Iron ore prices continued to lose ground over the past month amid increased supply in the global market. Australians shares have started the week on a high, as iron ore prices hit an almost eight-year record. upcoming Mining News events. Iron ore prices are showing a consolidation after witnessing a bull run despite the COVID-19 impact. The iron ore mining industry had cashed on the surge in the iron ore demand over robust steel production across China. SteelMint provides updates on Steel Industry, Latest Steel Prices, Steel News and Steel Market trends ... India: JSW Steel withdraws iron ore auction from Odisha on legal hurdles. Nov 2015 - Oct 2020: 57.057 (184.35 %) Chart. Meanwhile, Chinese-owned iron ore miner CITIC Pacific Mining has also placed staff who had visited China since January 17 into isolation for a 14-day period. According to Metal Bulletin, the spot price for benchmark 62% fines skidded 0.7% to $94.78 a tonne, adding to the 1.1% decline seen on Monday. Weekly: Indian steel market snapshot. Subscribe to BN Log In. Spot iron ore prices rose to around $130 a dry metric ton on Tuesday, according to commodity price reporting agency Argus. By 11:20am AEDT, the benchmark ASX 200 had risen (+0.7pc) to 6,680 points. LATEST Iron Ore NEWS. Coverage includes global price data, market news, short and long-term forecasts on iron ore prices. Unit: Indian Rupee per Dry Metric Ton. Bulk Buys: Iron ore is now up nearly 50pc in 12 months – but a price drop … On 6 November, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 118.5 per metric ton (mt), which was 1.7% lower than on the same day in September. It followed reports Chinese steel future traders were taking advantage of the high iron ore price and pushing up the price. HRC. Mining. Kumba Iron Ore sees 2020 production at low end of forecast [12-04] Changyang New Shougang restarts high-phosphorus iron ore processing [12-03] Vale's iron ore sales to China account for nearly 70% of global sales in Q1-Q3 [12-03] Vale sees 2021 iron ore output of 315-335 million tons [12-03] Range. 05 Dec 17:36 IST. Check out the latest Iron Ore news, insights and unique analysis brought to you by Stockhead's team of business journalists and industry experts. How China could stoke iron ore prices. The ASX hit a 3-day high as iron ore miners surged after the spot price hit a 6-year high … Traders in China said the move would not hurt demand for Australian iron ore in China but it would lower the price of the steelmaking commodity. Iron ore export volume reached 82 million tonnes in June 2020, marking a monthly record whilst taking the 2019-20 export earnings to $102 billion. Higher prices benefited the major players in the iron ore industry with Fortescue Metals Group’s share price surging 6.6 per cent on Friday to $8.95 following the announcement. @theCoalFace. 05 Dec 17:42 IST. The iron ore price climbed three per cent overnight to about $136 USD per ton which is the highest in six years. ASX mining royalty company Deterra Resources is cashed up and ready to buy December 4, 2020 December 4, 2020 | Mike Cooper. Iron ore futures in China fell as much as 3.5 per cent on the news on Friday. Australia is the world’s iron ore powerhouse, with Brazil a close second. Billet . Investor Outreach. 05 Dec 19:15 IST. The iron ore continued to trade higher in December, remaining above $130 a tonne, a level not seen since January of 2014 on expectations that steel demand in China would remain robust in the coming months, mainly due to nation’s infrastructure and property boom. Australian shares start Monday on a high, as iron ore price continues to surge – ABC News. Traders told TOI the rates of iron ore range from Rs4,500 to 6,000 a tonne, while steel products range from Rs35,000 to Rs40,000 a tonne. Prices, news and forecasts on global iron ore prices and markets. 6m 1y 5y 10y 15y 20y. ... Fortescue shares hit $20 as iron ore price soars. StudyPerth chief executive Phil Payne had told Business News last week the problem had so far been logistical in nature, and that he feared misunderstandings over the virus could affect the broader community. MMi Daily Iron Ore Report (December 4) As of November 4, iron ore inventories across 35 ports tracked by SMM totalled 118.03 million mt, a decrease of 1.05 million mt from the previous week and an increase of 4.53 million mt year-on-year. The seaborne iron ore price hit more than six year high Aug. 18, due to supply shortness of medium grade fines and a strong demand recovery in China post pandemic. Mining . This is the highest level … Welcome to the Trading Day blog for Thursday, December 3. SteelMint is leading Research Company based in India that specializes in Steel and Iron Ore Prices and Industry News. Indian finished steel exports decline by 31% y-o-y in Nov\'20- Govt data. Save articles for future reference in Western Australia’s biggest iron ore demand over steel. 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