China Iron ore Futures hit near 8-month High as Stockpiles Fall

Chinese iron ore futures climbed more than 2 percent to their highest in almost eight months on Monday, supported by firm demand for the steelmaking raw material in the world’s top consumer as stockpiles at its ports dropped last week. Inventories of iron ore at China’s major ports fell 150,000 tonnes from the previous week
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Big discounts for lower grade iron ore are here to stay says explorer Flinders Mines, which is searching for a way to upgrade the product at its Pilbara Iron Ore Project (PIOP) in Western Australia. Lower grade iron ore was discounted by up to 40 per cent last year as Chinese steelmakers increasingly favoured higher
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Shanghai construction steel futures notched a fourth straight day of gains on Thursday as stable demand and shrinking stockpiles in top consumer China saw the ferrous complex avoid heavy losses seen in global equities and base metals markets. The most traded steel rebar contract on the Shanghai Futures Exchange, for January delivery, rose 0.8 percent
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China’s switch from industrial-led to consumption-led growth seems to be showing up everywhere except the production numbers of iron-ore miners. Vale SA, Rio Tinto Group and BHP Billiton Ltd., which together produce close to half the iron ore dug up globally, have all reported figures for the September quarter that look remarkably robust. At Vale,
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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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