Iron – Bloomberg reported that the world’s largest iron ore producers are planning to invest $250 billion on new mines, which threatens to push the price slump deeper as experts believe that the commodity will drop in the next 3 years.
Platinum – Bloomberg reported that many precious metals are headed for their worst quarterly run as the dollar strengthened but spot platinum advanced 0.2% and is poised for a quarterly advance.
Iron – Bloomberg reported that Australia, which is the biggest iron ore exporter in the world, said it expects the value of exports to reach A$205B in fiscal year ending June 30, 2014.
Iron – Bloomberg reported that Teck Resources Ltd is likely going to lead a bid for Canada’s Iron Ore Co. as Rio Tinto plans to sell all or part of its 59% stake on the company.
Uranium – Bloomberg reported that uranium’s rally, after a poor performance in the last 3 years, has faltered on signs that Japan will keep only a handful of its reactors offline in 2013.
Platinum – Bloomberg reported that platinum is headed for the highest monthly gain since January 2012 and rose to as much as 0.6%, advancing this month to 9.7%.
Iron – Bloomberg reported that amid iron ore’s impressive trading performance last year, it may be able to extend the rally as steelmakers in China seek imports to compensate for losses in local production due to the coldest winter that has ever hit the country in 28 years.
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