Iron ore: more than ever it all depends on China
Sky-high iron ore prices on one side steel production in many countries down markedly — and it is China’s demand that is the lone factor keeping iron ore consumption going. For the month of June global steel production year-on-year was tanking: India down 23.9% on the same month in 2019 Brazil and Germany declining 18% Japan dropping 16
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China& 39;s Nanjing Iron and Steel seals blockchain iron ore deal
China& 39;s Nanjing Iron and Steel Co Ltd said on Wednesday it has completed its first blockchain-backed trade in iron ore after booking a $16.87 million shipment of the steelmaking ingredient from a
Chinese steel mills delay iron ore restocking eye cheaper
Four other mill managers said their iron ore inventory had dropped to less than 15 days of use lower than the normal level of 22 days. They declined to be identified because of company policy.
Vale inaugurates iron ore grinding hub American Metal
Tags Brazil China Vale NPZ iron ore pellets iron ore fines Zhoushan GF88 Marcelo Spinelli Brazilian miner Vale has inaugurated an iron ore grinding hub at a terminal owned by the China-based Ningbo-Zhoushan Port Group NZP with three production lines and capacity for as much as 3 million tonnes per year the company said on Tuesday
Soaring ore prices anaemic steel rises hurt China mills
Prices of imported iron ore in China’s portside and seaborne cargo markets refreshed multi-year highs on August 18 but Chinese steelmakers are struggling to lift their finished steel prices at the same pace as the uptrend in materials prices mill sources complained on August 19.
China Gobbles Amazon Rainforest Ore to Clean Polluted Skies
The industry benchmark based on 62 percent ore delivered to Qingdao China fetched $59.65. Vale is ramping up its $14 billion project in the Amazon known as S11D which began production this year.
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Australia’s spot as China’s top source for iron ore under
Australia shipped a record amount of iron ore to China in June but Chinamax ships used by Brazilian mining giant Vale and miners in African can carry half again as much cargo as normal ore ships.
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Iron Ore Glory Days Seen Numbered as China Demand Rolls Over
Iron ore faces a long slow slide over the coming half-decade. Prices are poised to decline over the long term as the impact of weakening demand in biggest buyer China will more than offset gains
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China is also the largest iron ore-importing country and imported about 65% of the world& 39;s seaborne iron ore in 2013 followed by Japan 11% Europe 10% and Korea 6% as shown in Figure 1.3. These imports are clear indi ors of iron
Indian iron ore shipments to China hit eight year-high in H1
However Indian iron ore exports constituted a small proportion of total imports into China with the latter sourcing an estimated 65 percent of its total demand from Australia and 17 percent from Brazil of the total 547 million mt shipped into China during the first six months of the current calendar year.
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Explained: Why India’s Iron Ore Export To China Has Reached
China’s record import of Indian iron ore is crucial since it makes up 70 per cent of total exports of the ferrous metal ore. This to an extent has kept its prices in India firm.
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Australia’s spot as China’s top source for iron ore under
The use of the large ore vessels not only allows the shipment of larger amounts of iron ore therefore lowering logistics costs but enables Vale to speed up the delivery of iron ore to steel mill customers in China and also increases its ability to blend different grades of iron ore in China instead of in Brazil to meet customer demand said
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Australia’s iron ore exports to China strong but weak global
Australian mining giant Rio Tinto reported a 3 per cent rise in total iron ore exports largely due to stronger demand from China as it slowly recovers from the impact of the coronavirus outbreak.
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