Iron – Bloomberg reported that Australia’s third biggest iron ore producer, Fortescue Metals Group Ltd., said its profit went down 40% because of lower prices of iron ore and said dividends won’t be paid.
Articles Tagged "iron ore prices"
Iron – Reuters reported that iron ore has reached its highest in nearly 6 weeks as Chinese buyers start rebuilding stockpiles ahead of firmer spot steel prices.
Iron – Bloomberg reported that the prices of iron ore could likely drop between $5 and $10 as it nears its highest level since October 2011, discouraging China buyers.
Iron – A brief overview of iron price developments, supply and demand and significant market movers.
Iron – Reuters reported that according to Rio Tinto, the price of iron ore will retreat slightly this year from its current high levels, which reached almost $160 per ton last month.
Iron – Reuters reported that the Canadian National Railway Co has put on hold a feasibility study of constructing a rail line that will allow the transportation of iron ore from northern Quebec to port, as miners delay projects because of low prices.
Iron – Bloomberg reported that iron ore trading tripled in January compared to the previous year on speculation that the demand will increase after the Chinese New Year this month.
Iron – Reuters reported that Australian shares rose 0.4% on Friday as mining stocks gained from a jump on the prices of iron ore. Major mining companies Rio Tinto and BHP Billiton climbed 0.8%.
Iron – Bloomberg reported that iron ore is set to fall through the end of March, as China celebrates a week-long New Year celebration next month. Mills opting for domestic supplies is also seen as a contributing factor to the price drop, according to Australia & New Zealand Banking Group Ltd.
Iron – Prices have hit both 15-month highs and three-year lows in the last five months, leaving investors wondering what’s next.