Iron Ore is Defying Gravity (For Now)

Despite the turmoil of an escalating war of words and the prospect of a full-blown trade war, the price of iron ore has remained remarkably robust this year. As the primary ingredient in the most basic of manufacturing materials, steel, you may be forgiven for expecting demand would have been shaken by the prospects of
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Mining giant BHP Wednesday posted a 10% year-on-year rise in iron ore production in the July-September quarter aided by improved rail and port operations, while a 3% slip from April-June was attributed to scheduled maintenance. The world’s third-largest iron ore producer, which operates mines in Western Australia, said its share of production from all assets
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China’s iron ore imports rose to their highest level in four months in September, according to customs data issued on Friday, as steel mills ramped up output ahead of winter production restrictions. Arrivals of steelmaking ingredient iron ore increased to 93.47 million tonnes last month from 89.35 million tonnes in August, but were down from
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Pilbara Ports Authority has delivered a total monthly throughput of 59.4 million tonnes (Mt) for the month of September 2018. This throughput was in-line with the same month in 2017. The Port of Port Hedland achieved a monthly throughput of 44.1Mt, of which 43.5Mt was iron ore exports. These volumes are also in-line with last
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The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel production is “forecast to peak in
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Chinese steel and iron ore futures dropped to one-week lows on Tuesday as investors cut positions after returning from a holiday weekend with the United States and China locked in an intensifying trade war. Washington and Beijing imposed fresh tariffs on each other’s goods on Monday as the world’s biggest economies showed no signs of
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Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world’s biggest consumer of the steelmaking ingredient, needs higher-quality, less polluting grades of iron ore as
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China’s iron ore demand has already peaked and is expected to stay flat, an official of the country’s biggest listed steelmaker, Baoshan Iron & Steel Co, said on Thursday. China bought a record 1.08 billion tonnes of the steelmaking raw ingredient last year, the second successive year in which purchases crossed the 1-billion mark. “China’s
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China’s steel and iron ore prices finished trading up more than 1 percent on Tuesday, with Beijing announcing after the close that it would take countermeasures in response to the latest round of U.S. trade tariffs. China’s commerce ministry said in a statement that it had “no choice but to retaliate” to the latest move
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Prices of steel and iron ore regained some lost ground in China on Thursday after the United States invited Chinese officials for talks, spurring hopes of a deal to end a trade dispute between the world’s two largest economies. Washington has sent an invitation to senior Chinese officials for talks in coming weeks, the White
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