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China emissions cuts stoke record premiums for quality iron ore
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China’s drive to reduce steelmaking emissions has sparked record price premiums for high quality iron ore products which could be worth more than $3 billion for both BHP and Rio Tinto this year while also turning a Tasmanian minnow into a market darling.
Surging premiums for iron ore pellets and lump comes as iron ore futures surged again on Monday while a partner to the dormant Australian Premium Iron (API) project expressed optimism that a smaller version of the project could soon be developed.
Premiums on niche iron ore products, like pellets, are surging.
ASX 200 down 0.2%: Origin sinks on earnings downgrade, gold miners charge higher
James Mickleboro | April 16, 2021 12:02pm |
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At lunch on Friday, the
S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a subdued note. The benchmark index is down 0.2% to 7,043.3 points.
Here’s what has been happening on the market today:
Origin guidance downgrade
The
Origin Energy Ltd (ASX: ORG) share price is sinking today after downgrading its earnings guidance for FY 2021. The energy company made the move due to an adverse and unexpected outcome on a domestic gas contract price review and continued headwinds in energy markets’ operating conditions. Origin now expects its energy markets division to post a 30% to 35% decline in operating earnings in FY 2021.