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Wuhan Steel Group Seeks More Iron Ore Assets Overseas
Wuhan Iron & Steel Group, China’s third-biggest steelmaker, is seeking to invest in more overseas iron ore assets to cut reliance on expensive imports, General Manager Deng Qilin said.
“We aim to be self-sufficient in iron ore supplies in three to five years and reduce purchases,” Deng, who’s also chairman of the China Iron & Steel [...]
Cash Prices of Iron Ore Delivered to China Rises
The cash price of iron ore delivered to China, the world’s biggest buyer, rose to the highest in more than a year on demand from the nation’s steelmakers.
The cost of 62 percent iron-content ore delivered to the port of Tianjin increased 1.4 percent to $133.10 a metric tonne on Mar 1, the highest in at [...]
Chinese Return to Market, Iron Ore Spot Prices Up 5 percent
Spot iron ore traded 5 percent higher when Chinese players returned to the market after week-long holidays, market sources said on Tuesday.
Traders reported one Capesize cargo of 62 percent Pilbara iron ore changed hands on Monday at $136 a tonne on a Cost Insurance Freight China basis, while a 50,000-tonne cargo of Indian material grading [...]
Mining Trade and Market Rumor: Iron Ore Supplier Trying Pressure China Steelmaker
Global iron ore suppliers are trying to impose pressure on Chinese steelmakers and the China Iron & Steel Association (CISA) by spoofing, namely, spreading rumors.
Lately, there were foreign media reports saying that five major Chinese metallurgical companies had reached a temporary iron ore supply price with Vale, and BHP Billiton, rising 35% from USD 62 [...]
India Globalization Capital Announces Two New Iron Ore Contracts Valued at $3 Million
India Globalization Capital, Inc., a company competing in the rapidly growing materials and infrastructure industry in India, today announced it was awarded two new Chinese iron ore supply contracts valued at $3.0 million. The orders total 60,000 metric tons of medium-grade iron ore, or 56-grade.
Mining Company Vale SA Signed Contract With Saudi Basic Industries Corporation
Saudi Basic Industries Corporation (SABIC) signed a cooperation contract with the mining company Vale SA for 10 years. Vale SA will supply DRPs to factory SABIC. Contractual agreements between the two companies, Vale will supply 3.3 million tons of DRPs.
China Chongqing Iron Eyes Australia Ore Assets
The state-owned parent of Chongqing Iron and Steel Co Ltd, a medium-sized Chinese steelmaker, is in talks to acquire an Australian iron ore project, domestic media reported on Friday. The project had prospect reserves of 3 billion tonnes, the government-run Chongqing Evening News reported, citing company executives, without giving further details.
China Needs to Limit Iron Ore Supplies Sold on Spot
China, the world’s largest iron ore consumer, needs to limit supplies of the material sold on the cash market as talks to settle contract prices stalled, Baoshan Iron & Steel Co. said.
Iron Ore Prices in China fell to $95 a tonne on Demand Drop
Price of iron ore in China has decreased, Reuters reported sale price of iron ore in China on Monday the price reached $ 95 per ton. This iron ore prices by as much as 17 percent of the annual price had reached $ 115 in early August. Iron ore price decline is expected a decrease [...]
