10 Chinese coal producers have joined a UN program to promote the development and deployment of clean coal technologies. The move aims to reduce emissions and environmental pollution. But some analysts believe it will take a while for China to reduce its reliance on coal.
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Largest steel producer in the world, China is looking for iron ore mining companies that want to give a discount of iron ore by 40%. This year China has refused to cut iron ore prices 33 per cent, as has been given iron ore mining companies to the Japanese and Korean.
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Iron ore trade system in 2009, is a bad year. Negotiations between producers and importers of iron ore, iron ore walk a lot. Even end up having to involve the court over the case to deliver information that is confidential.
Iron ore price negotiations went a lot because of iron ore importer, China refuse iron ore price set by Rio Tinto by 33 percent for the year 2009-2010, while other importers like Jepabg, South Korea and Taiwan have agreed with the benchmark price of iron ore.
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Global mining major Anglo American’s Brazilian iron-ore subsidiary, Anglo Ferrous Brazil, expects world demand for iron-ore to return to normal within two years, and is planning to dramatically increase its production over the next six years, markets permitting. Read More…
Spot iron ore vessel bookings to China by the world’s two biggest exporters, Australia and Brazil, remained steady in the first half of September, after sliding to a 9-month low in August.
Vessel bookings from Australia’s main ports, the biggest iron ore seller to China, stood at 18 in the first 15 days of September, little changed from 15 in the same period a month ago, according to data specialist AXSMarine. Read More…
China’s steel prices have fallen for four straight weeks, prompting iron ore to fall to about $80 a metric ton, China National Radio reported, citing Xu Xiangchun, an analyst at Mysteel Research Institute.
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Detention cases negotiator Rio Tinto mining company by China, is a factor which stop the process of iron ore price negotiations between Rio Tinto and China steel mill. Rio Tinto reported having stopped the talks with China on steel factory iron ore prices.
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Rio Tinto Group, the world’s third- largest mining company, said it is still selling iron ore to China at a provisional price as benchmark negotiations with the Asian nation remain stalled.
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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.
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Spot iron ore vessel bookings to China in August by the world’s two biggest exporters, Australia and Brazil, fell to a 9-month low, indicating strong demand from the world’s top steel maker may be slowing as steel prices slump.
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