Iron ore price hits more than 2-week low on rising inventory

Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports and caution about demand outlook, but property support measures in China lent some support.

China’s 2024 iron ore imports similar to last year

Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric tons, similar to last year’s 1.18 billion tons, a senior official of miner Vale said on Wednesday.

Iron ore is tight and will pass $100 test in 2024

Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property crisis hurting the outlook for steel demand there, according to HSBC Holdings Plc.

Iron ore price retreats on weak Chinese industrial data

Iron ore futures prices fell on Monday after weak industrial data in top consumer China and the completion of of pre-holiday restocking by steelmakers ahead of May Day.

Brazil iron ore exports seen surging in 2024 if rivers stay high

Brazil’s Corumba region could more than double iron ore shipments through neighboring Uruguay this year if there is enough water in the rivers, according to one of the biggest logistics companies on the Paraguay- Paraná Hidrovia system.

Iron ore price set for 3rd weekly rise on China demand

Iron ore futures were poised for a third straight weekly rise as prices largely consolidated gains on Friday, with improving demand in top consumer China countering higher portside inventories.

Fortescue iron ore shipments fall short after derailment

Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following a derailment of ore cars and weather disruptions that also led to a slight cut in its outlook for annual shipments.

Iron ore price weakens amid waning China stimulus hopes, high portside stocks

Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer China, high portside stocks, and risks of possible government intervention after a price rally last week.

Iron ore price drifts higher as soft China data triggers stimulus hopes

Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed hopes of more stimulus in the second quarter to underpin its economy.

Iron ore’s reset to $100 heralds China’s new economy shift

Iron ore’s reset to around $100 a ton is indicative of a broader reshaping of China’s commodities markets that favors the new economy over the old.

Iron ore price swings near $100 as traders mull fragile China recovery

Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.

Iron ore price swings near $100 as traders mull fragile China recovery

Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.

Iron ore price edges higher on hopes of China’s demand recovery

Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and Beijing’s pledge to support its struggling property market.

Iron ore hit by fresh selling as traders fret over China demand

Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese demand. Base metals also fell.

Iron ore price set for weekly gain on prospects of improving China demand

Iron ore futures were mixed on Friday, but set for a weekly gain on mounting anticipation of a pick up in demand in top consumer China amid signs of improving steel consumption.

Bearish demand expectations challenge iron ore’s price resilience

Iron ore prices, long resilient despite China’s gloomy economic outlook, have tumbled since the end of the Lunar New Year holiday, sparking concerns around faltering demand and denting mining stocks in top producer Australia.

Rio Tinto gets $13 million from Canada to decarbonize iron ore processing

Rio Tinto said on Monday that the Canadian government had awarded it C$18 million ($13 million) to decarbonize iron ore processing in Labrador West.

Iron ore price slides to 4-month low on higher China inventories, slow construction

Iron ore futures tumbled on Monday to their lowest level in four months as higher inventories in key buyer China and slower construction activity due to unfavourable weather raised demand concerns.

Iron ore boom of the 2000s repeating – this time with critical metals

A headline published in The Age back in July 2003 reads: “[Andrew] Forrest has a grand $1.2bn plan for tiny Perth mining company.”

Kumba Iron Ore to cut 490 jobs as rail crisis hits output, shares fall

Kumba Iron Ore shares fell more than 5% on Tuesday after it announced plans to cut about 490 jobs, following a reduction in production as it struggles to overcome South Africa’s persistent rail bottlenecks.

Iron ore price slides as rising stocks, weak steel margins blur demand outlook

Iron ore futures prices slipped on Monday, as traders took a cautious stance after rising stocks and weak steel margins counteracted with hopes that demand will pick up in top consumer China following a week-long Lunar New Year holiday break.

Australia’s iron ore giants to lean conservative on dividends, analysts say

Australia’s iron ore majors are expected to limit dividend payouts in their half-year results this week, keeping cash on hand for large capital spending on energy transition-linked growth, analysts said.

BHP Australia iron ore train drivers to strike for 24 hours

Iron ore train drivers at BHP Group’s Pilbara operations in Western Australia have voted to strike on Friday in a bid to secure an improved employment agreement, the country’s Mining and Energy Union said on Monday.

China Baowu raises $1.4bn via bond, mostly for Simandou iron ore project

The world’s largest steelmaker China Baowu Steel Group has raised 10 billion yuan ($1.4 billion) from a bond issue, in part for the giant Simandou iron ore project in Guinea, it said on Monday.

Vale’s 2023 iron ore output tops guidance, but sales fall

Vale’s iron ore production grew 4.3% in 2023, topping the Brazilian miner’s estimate for the year, while shipments of the commodity fell slightly, the company said on Monday.

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