Shanghai, China: In recent years, steel products exported by China increased rapidly. In 2015, China exported 112.4 million tonnes of steel products with an increase of 19.9 percent year-on-year.
India's JSW Steel, one of the country’s biggest steel companies, has started talks with Sandur Manganese about a long-term iron ore supply agreement. These discussions are part of the company’s efforts to ensure iron ore availability for its 18-million tonne steel capacity, which is spread across three locations in India.
Less than 10 years after purchasing the US$5.5 billion Baro Alto Mine, Anglo American might be considering selling it off, along with most of their mines in Brazil.
Despite plummeting iron ore prices, Rio Tinto isn’t slowing down on production any time soon.
Chinese iron ore futures dipped once again on 6 January, with an expected lowering in demand due to deepening output cuts by steel mills.
After being in the red for a period, iron ore has surged into the black to US$56.20 a tonne in the last trading session, up from 0.7 percent from US$55.60 a tonne. According to news sources and trading analysts, the move leaves it just US$0.20 shy of a one month high. This is most likely due to the recent explosions in a container storage station at the Port of Tianjin earlier this week with experts saying that the disaster could upset the iron ore supply into China who is currently the largest iron ore consumer in the world.
The seaborne iron ore spot market is going strong and has registered its strongest week so far this year. Platts assessed 17th April, Friday’s daily 62 percent Fe Iron Ore Index (IODEX) 75 cents higher to US$51.50/dry mt CFR North China.
