Page 2 - Erik Hedborg News Today

China iron ore futures plunge after record-setting rally May 14, 2021 – 3.22am Save Share Beijing | Ferrous prices in China fell on Thursday, led by benchmark iron ore that plunged as much as 9.5 per cent as market participants paused after a super rally that sent prices to historical highs over the past few days. The most actively traded iron ore on the Dalian Commodity Exchange, for September delivery, closed down 7.5 per cent at 1217 yuan ($US188.66) per tonne, after touching 1190 yuan ...

Slightly lower valuations may indicate shares still have upside.

Iron ore prices hit new record Champion Iron CEO David Cataford (pointing) in the processing plant at the Bloom Lake iron ore mine in Quebec. Credit: Champion Iron The price for iron ore surged to a record US$237.57 per tonne today as strong Chinese demand continued to outpace supply. The record price levels are supported by a continued supply squeeze, with major iron ore producers reporting seasonally lower output in the March quarter, and growing concern over the escalating Covid-19 crisis in...

“High iron ore prices in early 2021 are unsustainable, but market fundamentals remain strong," says Moody’s senior VP Barbara Mattos.

China moves to cool rally as iron ore prices explode Train carrying iron ore. Stock Image. China’s commodity exchanges on Monday moved to raise trading limits and margin requirements for some iron ore contracts and reinstated fees on steel futures as a blistering rally in the ferrous metals complex showed no signs of abating. Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Monday, changing hands for $230.56 a tonne, up 8.62% from Friday session, accordin...

Asia’s iron ore futures at record high as spot crosses $200/T on robust demand Iron ore futures in Asia vaulted to a record high on Friday, extending their rally as strong demand for the steelmaking raw material in China and supply concerns pushed spot prices for the benchmark material to the highest-ever above $200 a tonne. The most-liquid September iron ore on China’s Dalian Commodity Exchange DCIOcv1 leapt 5.3% to 1,214 yuan ($187.94) a tonne by 0330 GMT, after earlier touching a high of...

Rio says China has few iron ore alternatives, for now Share Australia’s biggest iron ore exporter says China has relatively few alternative suppliers of the steelmaking ingredient in the near term, as diplomatic tensions between Canberra and Beijing stokes panic buying and helps drive iron ore prices to record highs. Prices for “benchmark” ore with 62 per cent iron breached $US200 per tonne for the first time on Thursday evening, with S&P Global Platts putting the price at $US202.65, whil...

Iron ore price surges as steel rally fires up demand Iron ore prices have risen to record highs in recent weeks, largely because supply has not been able to keep pace with demand in China, where crude steel production has grown by 30% over the past five years. Expectations are building that benchmark prices can get to $200 a tonne — topping the record $194 hit more than a decade ago — as Chinese steelmakers ramp up production in defiance of government attempts to rein in output to control t...

Rise in iron ore prices worry China May 7, 2021 Beijing [China], May 7 (ANI): China may move towards reducing its steel demand in the near future as stakeholders in the industry are getting concerned about high iron ore prices amid growing tensions with its biggest supplier Australia. According to the South China Morning Post (SCMP), China’s state-dominated steel sector is concerned about surging prices, urging the government to help with market “malfunctions” and improve...

Surge in iron ore prices worry China amid tensions with Australia ANI | Updated: May 07, 2021 13:17 IST Beijing [China], May 7 (ANI): China may move towards reducing its steel demand in the near future as stakeholders in the industry are getting concerned about high iron ore prices amid growing tensions with its biggest supplier Australia. According to the South China Morning Post (SCMP), Chinas state-dominated steel sector is concerned about surging prices...