Prices

Venezuela’s hot briquetted iron export prices slashed by $US 50 per mt

  Platts – Venezuelan hot-briquetted iron export prices this week continued to edge down for April bookings as sellers accepted lower bids and offers fell around $50/mt in line with the international trend, sources said Thursday. A Venezuelan trader said he booked this week around 30,000 mt for $250/mt FOB ...

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BHP and Rio suffer as iron ore hits 10-year low

By: Andrew Critchlow The Telegraph – Iron ore prices have hit a 10-year low, sending shock waves through the global mining industry and prompting concern among analysts that smaller producers could soon be forced out of business. The price of a tonne of ore quoted on the Quingdao China index fell ...

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Iron ore seen sliding to low $US40s in coming weeks

  Sydney Morning Herald – Iron ore, which fell below $US50 a metric tonne on Wednesday, may extend losses as weakening producer currencies cut mining costs, reducing incentives for the supply cuts needed to balance the market, according to Societe Generale. Ore with 62 per cent content at Qingdao continued ...

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Nickel bounces off near six-year low

  Reuters – Nickel bounced off its lowest level in nearly six years on Wednesday as some investors, betting on price falls, locked in profits, but concerns about Chinese economic growth weighed on other base metals. Nickel has spiralled lower on worries about lacklustre consumption from the stainless steel sector, ...

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China’s iron ore stocks dwindle as price fall scares off buyers

Reuters – Stocks of imported iron ore at ports in China, the world's biggest consumer, have stuck at or below the 100 million tonne mark since the start of the year. They look set to fall further as a protracted price slump drives away buyers. Inventories of the steelmaking raw ...

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Chinese rebar futures extend gains as steel mills cut output

    Reuters – Chinese rebar futures rose to their highest level in nearly three weeks on Tuesday as tougher environmental checks forced some steel mills to curb production just when demand in the world's top consumer is expected to start picking up. Some steel mills in the northern Chinese ...

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China slowdown and Australian dollar fell iron ore, coal to fresh lows

  Slowdown in Chinese growth and lower Australian dollar against the US dollar, pushing the iron ore and coal prices to drop more in the coming period. Reuters reported that the key Asian mining markets are being thrown into crisis by China's slowdown and industrial reforms, with coal and iron ...

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LME and Turkish exchange team up on steel market

  FT – The London Metal Exchange will work with Turkey's Borsa Istanbul to develop products for the steel market, it said on Wednesday. The Turkish exchange will also acquire the LME's stake in clearing house LCH.Clearnet, reports Henry Sanderson, commodities correspondent. The country is aiming to become a financial ...

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US flat-rolled steel market expecting prices to stabilize soon

  Platts – The precipitous decline in flat-rolled steel pricing in the US over the last four months is starting to show signs of a soft bottom, sources continued to say Friday. Platts maintained its daily hot-rolled and cold-rolled coil prices at $480-$495/st and $610-$630/st, respectively. All prices are normalized ...

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Australia could face anticompetition probe over iron-ore

  US-based mining company Cliffs Natural Resources on Wednesday blamed Australia for a dramatic fall in ore prices and warned that its central bank may one day be called to explain anti-competitive practices. Lourenco Goncalves, president of Cliffs Natural Resources Inc, said his company was quitting the Australian iron ore ...

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