Articles Tagged "Iron Market News"

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.

High Spending Days for Iron Are Over

Iron – As iron prices tumble to five-year record lows, The Sydney Morning-Herald is reporting that Australian companies are pulling back from spending vast amounts of money on iron projects. According to The Sydney Morning-Herald: Not even the most optimistic are suggesting that the days of super profits from this industry are set to return. It’s a [...]

Big 3 Iron Miners Keeping Up Volume, Price Balancing Act

Iron – Reuters columnist Clyde Russell wrote today that iron ore miners BHP Billiton (NYSE:BHP) Rio Tinto (NYSE:RIO) and Vale (NYSE:VALE) are bent on keeping their dominant position in the market by increasing low cost production. The strategy will depend on whether demand from China will continue to support prices, according to the author.