Metals Daily (18-May-2021): Vale rejects talk of iron ore supercycle
Source: SGX, Investing.com A concise summary of what’s moving markets, the impact on base, precious and ferrous markets, including Theme of the Day. What’s moving markets? Theme of the Day: Vale rejects talk of iron ore supercycle
The one export China CAN’T punish Australia over as iron ore sales soar to a record high of $11BILLION in just one month
Australia’s iron ore exports have surged to a record high despite a series of trade sanctions and threats from China. The commodity used to make steel is so in demand it accounted for more than a third, or 36 per cent, of Australia’s exports in October. Iron ore exports last month hit a record high of […]
Iron ore futures close lower
Iron ore futures closed lower on Monday in daytime trading at the Dalian Commodity Exchange (DCE). The most active iron ore contract for January 2021 delivery dipped 10.5 yuan (about 1.6 U.S. dollars) to close at 867.5 yuan per tonne. On Monday, the total trading volume of 11 listed iron ore futures contracts on the […]
MinRes eyes 92mn t/yr Australian iron ore exports
Australian mining firm Mineral Resources (MinRes) plans to ramp up its iron ore export capacity in Western Australia (WA) to 92mn t/yr over the next 3-5 years, from a target of 19.5mn-21.2mn in the 2020-21 fiscal year to 30 June. It aims to achieve this by increasing sales from the Yilgarn region of WA, where […]
China boom turbocharges iron ore
Iron ore prices rallied to a two-month high as robust demand from Chinese steel mills eats into stockpiles despite Australia’s big three miners shipping in supply at a record pace. The rally in Australia’s largest export saw BHP, Rio Tinto and Fortescue Metals Group lift the local sharemarket to a nine-month high on Monday, while the Australian […]
Iron ore set to average $100 a tonne for the first time since 2013
Iron ore, the steelmaking ingredient that is the biggest generator of profits for leading miners, is on course to average $100 a tonne over the year for the first time since 2013. The resilience of the material has helped the mining industry sidestep the worst damage from the coronavirus pandemic, which has hammered other sectors […]
Iron-ore Dalian contract jumps to a fresh high
The commodity complex is underpinned on a weak dollar and the prospects of a return to inflation in a post-covid-world. The news of the vaccine is boosting trade sentiment and in recent trade, we have seen the price of one of Australia’s largest exports and contributors to its surplus, iron ore, rally to new highs. Overnight, the Jan […]