Page 4 - Erik Hedborg News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 1,217.50 yuan. June iron ore on the Singapore Exchange SZZFM1 advanced 1.5% to $198.35 a tonne. Spo...

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, while Fastmarkets MB put the price at $US201.88. The momentum in the iron ore market appears unlikely to...

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 the industry’s carbon emissions. Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) ...

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 policies in the futures market. China imports over 50 per cent of its iron ore from Australia, and ...

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), China's state-dominated steel sector is concerned about surging prices, urging the government to help with market "malfunctions" and improve policies in the futures mark...