Articles Tagged "Iron Market News"

Inland China Steel Mills Could Increase Iron Ore Demand

Iron – According to Mining.com, a report from Nick Pickens of Minerals Value Service stated that inland steel makers in China could have a capacity for up to 300 million tonnes of iron ore demand. Though that supply could also come from longer term agreements or captive mines, there is some possibility that those producers could look to seaborne supply as a competitive alternative, according to Pickens.

Rio Tinto Sees Strong Iron Ore Demand

Iron – The Australian reported that Rio Tinto (NYSE:RIO) says it is seeing high demand for its iron ore, in spite of falling prices. The mining giant forecast demand from China to continue, expecting crude steel production to clock in at 1 billion tonnes by 2030.

China Industry Official Sees Iron Staying at $80

Iron – According to Reuters, Li Xinchuang, deputy secretary general of the China Iron and Steel Association, sees iron ore prices hovering around $80 per tonne, calling for slowing growth from China's steel sector. The official saw China steadily producing 800 million tonnes of crude steel per year for the next ten years, putting a limit on its need for iron.

Morgan Stanley Calls for Iron Ore Rebound

Iron – Bloomberg reported that Morgan Stanley is calling for an "end-of-year rally" for iron ore prices. The analysts saw supply closures and rising steel demand as drivers behind a rebound, although they did say that the base metal could fall slightly lower before coming back.

Low Iron Ore Prices Could Soon Cause Closures, Analysts Say

Iron – Reuters reported that iron is set to fall for the fifth week in a row as the surplus continues and China's steel market looks weak. However, Matt Fusarelli, an analyst at AME Group in Sydney saw prices rebounding to "perhaps $95 a tonne towards the end of the year," forecasting production closures and a tightening of supply.