Iron Ore Market News
IRC Ltd to add Russian iron ore customers to diversify from Chinese sales
Bloomberg reported that IRC Limited, a Hong Kong listed affiliate of gold miner Petropavlovsk Plc, seeks to add Russian iron ore customers to diversify from Chinese sales. Mr Pavel Maslovskiy founder of IRC Limited said that "We are avoiding off take ...... Click here for the full articleSource: SteelGuru
06 February 2012
Subic Bay to become iron ore transshipment hub
Brazilian company Vale Shipping Holding is set to make this Freeport the biggest transshipment hub of iron ore in the country after one of the biggest floating terminal stations docked on Monday. Subic Bay Metropolitan Authority chairman Mr Roberto ...... Click here for the full articleSource: SteelGuru
06 February 2012
BHP Approves $917 Million for Iron Ore Port
By ROBB M. STEWART MELBOURNE—BHP Billiton Ltd. said Thursday it has approved spending $917 million in order to push ahead with plans for the construction of a 100 million metric ton a year harbor facility to handle exports of its iron ore from Western ...... Click here for the full articleSource: Wall Street Journal
03 February 2012
ASSOCHAM calls for iron ore import duty removal
New Delhi, Feb 1 (IBNS) Industry body ASSOCHAM Wednesday urged the government to remove 2.5 per cent import duty on iron ore lumps, fines and pellets to increase supply options for the steel industry. It welcomed the recent increase in export duty on ...... Click here for the full articleSource: indiablooms
02 February 2012
Brazil's Ferrous Resources sells iron ore to Noble based on Platts index
Ferrous Resources, a Brazilian iron ore miner said Monday it had sold five Capesize iron ore cargoes to commodity trader Noble Group, based on Platts 62%-Fe Iron Ore Index or IODEX. The cargoes are for delivery from February to June, and shipments will ...... Click here for the full articleSource: Platts
02 February 2012
Iron Ore Set for Worst Month Since October on Slowdown Concerns
Iron ore headed for the worst monthly performance since October amid concern that slowing global economic growth and Europe's sovereign-debt crisis may curb demand for the raw material used in steelmaking. Iron ore with 62 percent ...... Click here for the full articleSource: BusinessWeek
01 February 2012
Hebei iron ore prices steady after Chinese New Year
Iron ore prices are steady in Northern China's Hebei on January 29, with levels holding steady amid thin trade. Mills have resumed operation on the end of national holiday but most miners and beneficiation plants are likely to be back to work till ...... Click here for the full articleSource: SteelGuru
31 January 2012
Brazil Vale Gets License To Mine High-Grade Iron-Ore Pit At Carajas Mine
BR) said late Thursday it was granted an operation license to mine a high-grade iron-ore pit at Carajas in north Brazil. The license, granted by environmental authorities, will allow Vale to mine the N5 Sul pit, which is part of the N5 mine in the ...... Click here for the full articleSource: Fox Business
30 January 2012
China's 2011 iron ore imports from India down 24%, up for most other sources
China's imports of Indian iron ore in 2011 fell 24% year on year to 73.3 million mt, the biggest drop among sources that supplied the country with more than 1 million mt of product last year, detailed data released Thursday by China's General ...... Click here for the full articleSource: Platts
27 January 2012
Iron Ore-Swaps rise on hopes of pickup in China demand
Expectations of China restocking after holiday * Two big Vale ships headed for Philippines * Spot iron ore steady at $139.80/tonne By Manolo Serapio Jr SINGAPORE, Jan 26 (Reuters) - Prices of iron ore forward swaps rose on Thursday as investors bet on ...... Click here for the full articleSource: Reuters
27 January 2012
Vale Poised to Bypass China Ore-Ship Ban With Transfer Vessel
Vale planned to transfer ore from its so-called valemax vessels, each able to carry 400000 metric tons, to smaller ships for delivery elsewhere, Jose Carlos Martins, head of iron ore and strategy, said in December. The transshipment operations would be ...... Click here for the full articleSource: BusinessWeek
26 January 2012
Fortescue Expects Port Approval Soon for Iron Ore Expansion
25 (Bloomberg) -- Fortescue Metals Group Ltd., Australia's third-largest iron ore producer, expects to receive government approval to develop a fifth berth at Port Hedland as soon as next month as the company plans to triple output.... Click here for the full articleSource: BusinessWeek
26 January 2012
Iron Ore-Steady with a chance of slipping as China out
Vale lifts force majeure on Brazilian shipments * India's NMDC resumes supply from major mines * Global steel output growth slows in 2011 By Manolo Serapio Jr SINGAPORE, Jan 24 (Reuters) - Iron ore steadied with trading activity nearly halted as top ...... Click here for the full articleSource: Reuters
25 January 2012
Iron Ore Prices to Remain Steady on China Demand, Steel Output
24 (Bloomberg) -- Iron ore prices will probably be supported by “robust” demand in China, the biggest steel producer, outweighing concerns that global economic growth may slow, according to Mine Life Pty. “There has been weakness in other parts of the ...... Click here for the full articleSource: BusinessWeek
25 January 2012
