Fortescue and Rio Tinto who are the biggest miners on Eastern Guruma land, both welcomed the initiative. SMM Index. The rise in Chinese steel rebar prices is matched by a sharp upturn in prices for the LME’s steel rebar futures contract which this week is back to trading at near record highs. Iron ore prices surged on the first trading day since the lunar new year in China, hitting their highest level since September 2011. A surge in demand in China, the world’s key growth engine, risks a shortage of iron ore that’s pushed prices past $150 a ton and crowned it this year’s best-performing major commodity. When economies are growing, the need for steel in construction increases which drives the price up. The strong demand in China against limited global supply would have taken the price of iron ore to about US$130 a tonne, but speculation “overcooked” prices, pushing them to … As of March 5, iron ore inventories across 35 ports tracked by SMM totaled 120.86 million mt, an increase of 1.22 million mt from the previous week and 10.7 million mt year-on-year. Change. © 2021 Glacier Media Group, All Rights Reserved, expected a continuation of strong Chinese demand, China metals body chief warns of speculation risk amid volatile prices, Zimbabwe says China’s Tsingshan to build iron ore mine, steel plant from May, Danakali looks into solar, wind to power Eritrea potash project, Aboriginal group to rate Australian miners on performance, IGF proposes policy actions to support women in mining, Anti-dumping investigation could lead to higher costs for European steelmakers – report, China Jan-Feb iron ore imports up 2.8% on healthy demand, MINING.COM MINUTE: Biggest stories of the week. China's copper and aluminum smelting capacity will remain relatively stable over the next five years. Experience up to 45% margin offsets versus other cleared, correlated contracts and only post margin on the residual risk as the contract month progresses. “Not only in China, but the ex-China activity is also picking up to pre-covid levels,” Fortescue Metals Group Chief Executive Elizabeth Gaines said during a media conference call. Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin hovered close to a nine-year high of $175 per tonne amid continued robust demand from China and persistent doubts about Brazilian shipments. 62% Fe Fines (Qingdao Port): IOPI62 (RMB/mt), 62% Fe Fines (Qingdao Port, CFR Equiv.) “Our view is that the market will remain robust for some time”. Iron Ore 62% fe increased 17.28 USD/MT or 11.09% since the beginning of 2021, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher. Iron Ore 62% FE Iron ore prices refer to Iron Ore Fine China Import 62 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. ''China and Australia remain inextricably co-dependent on the iron ore trade,'' said NAB head of commodity research Lachlan Shaw, when asked if trade tensions might affect the iron ore sector. “Our view is that the market will remain robust for some time,” Gaines said. MMi Port Stock Index. “Sentiment has also been supported by positive outlooks from the major exporters,” ANZ senior commodity strategist Daniel Hynes told Reuters. The West Australian 5d. Iron ore bulls need to be alert as Beijing pushes for a leaner and greener steel industry. Ongoing supply issues were also likely to keep prices underpinned given covid-19-related disruptions at Vale’s operations, and the potential for further weather-related port stoppages amid the northern Australian cyclone season. (USD/dmt), 62.5% Fe Lump (Qingdao Port): IOPLI62 (RMB/mt), 62.5% Fe Lump (Qingdao Port, CFR equiv) (USD/dmt), 62% Fe Fines (CFR Qingdao Port): IOSI62 (USD/dmt), 65% Fe Fines (CFR Qingdao Port): IOSI65 (USD/dmt), Qingdao Port(PB Fines 61.5%,CFR Equiv) (USD/dmt), Qingdao Port (Newman Fines 62.5%) (RMB/mt), Qingdao Port(Newman Fines 62.5%,CFR Equiv) (USD/dmt), Qingdao Port(Mac Fines 61%,CFR Equiv) (USD/dmt), Rizhao Port (PB Fines 61.5%,CFR Equiv) (USD/dmt), Jingtang Port (PB Fines 61.5%,CFR Equiv) (USD/dmt), Caofeidian Port (PB Fines 61.5%) (RMB/mt), Caofeidian Port(PB Fines 61.5%,CFR Equiv) (USD/dmt). Iron Ore Price: Get all information on the Price of Iron Ore including News, Charts and Realtime Quotes. Exchange Rate. The Monitor for China Iron ore Prcies and China Iron ore Daily Prices is provided by Sunsirs, China Commodity Data Group Iron Ore Prices, News and Analysis. Dalian iron ore has risen nearly 14% this year, with tight supply adding support as Vale struggles to boost output due to operational constraints. “The recent increase in steel prices has led steel mill margins in China to positive territory, providing key support for iron ore prices,” said CBA in a report. Price description. Growth in China (the world’s largest consumer of metals) has affected the price of iron ore so much recently that the spot price can almost be considered a proxy for China’s economic health. Download Data. China's iron ore futures prices recovered from early losses on Friday to end higher while coking coal and coke both closed up more than 3%, buoyed by resilient demand at … MMi Daily Iron Ore Report (March 8) DCE iron ore futures market soared quickly early this morning, with price hike of 5-15yuan/mt in the physical port stock market. In FY20, India’s iron exports rose 133% to 37.69 million tonnes versus FY19 levels. New Energy. PBF was closed at 1170-1180yuan/mt, and transactions performed to be insipid as majority market players kept cautious. Prices of iron ore, used to make steel, recently surged to a nine-year high of $176.90 a metric ton. And over 80% of these exports went to China. BHP said it expected a continuation of strong Chinese demand in 2021, and a recovery in global crude steel production. ... China's iron ore imports up on demand. Date. SteelOrbis is the primary information source preferred by leading iron ore producers for its up-to-date iron ore prices, iron ore market analyses and news, as it closely follows the main iron ore markets such as Australia, India and China. Price Range. The spot price ended at $159.60 a tonne on Monday, up from the low so far this year of $149.85 on Feb. 2, but down from the $175.40 on Dec. 21 - the highest price in nearly 10 years. Download the 40yr price history. Rare Earth. Iron Ore 62% Fe, CFR China (TSI) Swa price information, historical data, charts, stats and more. The Australian miner says that both energy sources are viable power alternatives for its 100%-owned Colluli sulphate of potash (SoP) project. The daily index for iron ore 65% Fe Brazil rose 4.2%, to $198 a tonne, an all-time high. Avg. Change orientation to land scape to view the price table. (USD/dmt), 65% Fe Fines (Qingdao Port): IOPI65 (RMB/mt), 65% Fe Fines (Qingdao Port, CFR Equiv.) Iron ore futures on China’s Dalian Commodity Exchange surged by almost 10% on Friday to an all-time high, crossing the 1,000 yuan ($152.95) per ton mark for the first time in … Iron Ore prices. On Tuesday, BHP Group said it expected a continuation of strong Chinese demand in 2021, and a recovery in global crude steel production. According to … Vale, the world’s top producer, has been struggling to return to full production as it faces legal and pandemic obstacles. Prices for Australia’s high-grade iron ore fines have increased this week after data on China’s steel output in 2020 was revealed. Exports of goods and services to China are about 7% of Australia’s gross domestic product, and iron ore is the single-biggest category, at about 40% of … ... China Metals Market. “We would not be surprised if iron ore briefly trades above its historic high of $190/t achieved in February 2011, but we do not see it as likely that prices would stay there for a sustained period of time,” Citi analysts said in a note on February 5. Iron ore prices surged on the first trading day since the lunar new year in China, hitting their highest level since September 2011. MMi. Iron ore bulls steel for China’s shake-up. Chinese Yuan. On average, China imports 80% of the iron ore it consumes as domestic production and ore grades are low. The price of iron ore has been mainly pushed up by recovering profits for steelmaking in China and rising demand for steel products from the downstream manufacturing and … Few shared this view; particularly those who accused the large iron ore producers of flooding the market through excessive expansion and hurting iron ore prices. Tsingshan signed a $1 billion outline agreement with Zimbabwe in June 2018 to build a 2 million tonne-per-annum steel plant. iron ore 62% fe, cfr china (tsi) - overview Discover a more efficient solution for hedging iron ore price exposure against marginal cost of production swings and supply-side price squeezes. Over the year, prices rose 75%. China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Brand Data Differentials Iron Ore Stainless Steel Finished Steel Coke Pig Iron. That would have the desirable effect of ramping up iron ore prices and would force China to pay dearly to get the supplies it needed, although it runs the risk of alienating not just China but other buyers of iron ore such as Japan and South Korea who would be faced with tighter supplies and higher prices. (Stock Image). According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $175.05 a tonne, up nearly 4.9% from Wednesday’s trade and up 9% YTD. The most-trade iron ore futures May contract on Dalian Commodity Exchange (DCE) increased sharply after Monday's opening and remained stable at intra-day high level through the day, ending up by 2.1% from last Friday’s closing price of 1,053 yuan ($163) per tonne. As it turned out, Rio and BHP were 5-10 years too late – as China produced close to 1 billion mt of steel in 2019 , driving demand for raw materials. Futures. (USD/dmt), 58% Fe Fines (Qingdao Port): IOPI58 (RMB/mt), 58% Fe Fines (Qingdao Port, CFR Equiv.) In China, activity rates didn’t slow as much as is normal for the Lunar New Year because not as many workers returned home. Many remained in the cities where they work because of covid-19 related travel restrictions.