The import price of 62% Fe content ore at the port of Tianjin declined more than 2% to trade at $56.20 per dry metric tonne on Wednesday, a near-eight week low, according to data supplied by The Steel Index.
Read MoreBrazilian and Australian iron-ore producers will continue to drive global iron-ore production, while Chinese firms lose market share owing to their position at the higher end of the cost scale, according to Fitch-owned market analysis company BMI Research’s recently published report on the global iron-ore industry.
Read MoreBrazil’s mining giant Vale (NYSE:VALE) reported Thursday its deepest quarterly net loss ever, becoming at the same time the first of the three largest iron ore producers to put some of its core assets up for sale.
Read MoreThe United Nations Conference on Trade and Development (UNCTAD, its acronym in English ) published a report which says that the market will witness the increase in iron ore supply by “a few more years”.
Read MoreCredit Suisse Bank analysts said in a report released on monday (21), believe that Vale will face a period “challenging” in 2016 and 2017. “Before it returns to a robust cash generation in 2018, when we expect prices base metals and iron ore recovery, the S11D project [of iron ore in Carajas] will be in ramp-up,” says the document.
Read MoreMoody’s credit rating agency said on Wednesday, 12th, the Baa2 rating and negative outlook of Vale SA are not affected by the lowering of the note of Brazil. On Tuesday, 11th, the agency downgraded the country’s rating to Baa3 and changed the outlook to negative from stable.
Read MoreTwo huge explosions that tore through an industrial area Wednesday night in the northeast Chinese port city of Tianjin, have killed at least 50 people and disrupted the flow of iron ore, oil, and other items through the world’s 10th largest port.
Read MoreWhile other metals markets continue to be mired in negativity, the price of iron ore surged on Wednesday as the market for the steelmaking raw material in top consumer China show signs of a bottom. The benchmark 62% Fe import price including freight and insurance at the Chinese port of Tianjin raced ahead $3.10 or 5.9% to $55.30 a tonne, capping three days of gains according to data provided by The SteelIndex.
Read MoreBrazil’s Vale (NYSE:VALE), the world’s top iron ore miner, said Thursday it produced 85.3 million tonnes of its own iron ore from March to June, or 7.4% more than the same period last year, making it the second highest quarterly production ever for the firm. On top of its own production, the company purchased 4.02 million tonnes of iron ore from third parties.
Read MoreSouth African logistics group, Transnet, said on Wednesday lower global iron-ore prices had not hurt its rail business and it was on track to export a record 62-million tonnes of iron-ore in 2015/16 as quoted by SA news agency Miningweekly. “We railed some 15.7-million tonnes against a budget (target) of 15.66-million tonnes in quarter one. We are still in quarter two so there is no figure yet. But yes, we are on track (to reach…
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