Tasmanian Iron Mine Clears Environmental Hurdle
Iron – ABC News reports that a proposal by Venture Minerals (ASX:VMS) to build an iron ore mine in Tasmania's Tarkine region has cleared an environmental hurdle.
Articles Tagged "Iron Market News"
Rio Expects China Iron Ore Demand to Rise This Year
Iron – Rio Tinto, (NYSE:RIO, ASX:RIO, LSE:RIO) a major producer of iron ore, said it expects Chinese demand for the steelmaking commodity to rise this year, Reuters reported.
US Iron Ore Production Falls
Iron – Iron ore production in the United States fell 7.1 percent between January and February and is down 8.7 percent year on year, reports the US Geological Survey. Shipments and exports were also down.
Iron Ore Market Avoids Supply Glut: Investec Securities
Iron – Bloomberg reported that the iron ore market will be able to prevent near-term supply surplus due to high demand from China, according to Investec Securities.
China Wants Iron Ore Importers to Participate in Domestic Trading Platform
Iron – Reuters reported that China will not grant new licenses to iron ore importers if they will not join in a domestic trading platform, as a way to control pricing.
Vale Iron Production Falls More Than Analyst Estimates on Permitting Delays
Iron – Bloomberg reported that Vale SA’s first quarter iron ore output dropped 3.5% to 67.5 million metric tons after permit shortages and operational limitations.
Iron Ore Swaps Slide for 2nd Day Amid Late Rally
Iron – Platts reported that iron ore swaps continued to decline Tuesday on concerns about China’s weak economic growth amid late prompt contracts that support physical trade confirming prices were still above a recent range.
Rio Tinto Plans Major Cost-Cutting Under New CEO
Iron – Reuters reported that Rio Tinto, under the leadership of its new CEO Sam Walsh, will initiate major cost-cutting measures as it mitigates a sharp drop in demand for industrial commodities.
India’s Fomento 2nd Iron Ore Sale Priced Against Platts Assessment May Start Floating Price Trend
Iron – Platts reported that Fomento Resources has sold for the 2nd time spot iron ore priced against Platts 58% iron ore assessments, possibly signaling a new trend of cargoes from India being sold on a floating basis to avoid the impact of price volatility.
Iron Ore’s $250B New Mines Puts Pressure on Rio, Vale
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.
