- Write by:
-
Tuesday, April 12, 2022 - 13:05:46
-
683 Visit
-
Print
Mining News Pro - The iron ore price fell on Monday, tracking lower raw material prices as still stringent covid-19 related measures in China dented market sentiment and fuelled worries that the recovery in the world’s second-largest economy might lose steam.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $150.65 a tonne during morning trading, down 2.23% compared to Friday’s closing.
“Previous market expectation was that the (steel) demand would be postponed but not absent,” analysts with GF Futures wrote in a note.
“But as the current pandemic is continuously spilling over, there’s a relatively big uncertainty in its disruptions to the economy,” said the note, adding that the consumption in April and May could be pressured.
China’s financial hub, Shanghai, which had started lockdown at the end of March, has reported around 180,000 locally transmitted infections between March 1 and April 9, of which 96% were asymptomatic.
“China’s covid outbreaks, associated lockdowns, and the government’s handling of them will likely continue to dominate sentiment and direction for iron ore futures in the near term,” said Atilla Widnell, managing director at Navigate Commodities in Singapore.
Short Link:
https://www.miningnews.ir/En/News/621045
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium Corp., resigned as chairman after the ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
No comments have been posted yet ...