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Iron ore prices on the march again Credit: Dalian Commodity Exchange. Iron ore prices gained for a second day on Wednesday – recovering from a sharp drop over the weekend following comments by China’s steel industry body characterizing the current pricing environment as “unreasonable.” According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $156.45 a tonne on Wednesday, up nearly 1% from Tuesday’s peg.   Sign Up for the Iron Ore Digest Sign Up Last week the steelmaking raw material hit $160, the highest since February...

MacroBusiness Access Subscriber Only Content From the sensible Ian Verrender at the ABC: So, what’s Plan B? For Australian exporters suddenly caught in the headlights of an increasingly hostile regime in Beijing, the answer, it appears, is: there isn’t one. If it hasn’t sunk in quite yet, the chances of a rapprochement are slimming by the day and any chance of mending the relationship now seems out of reach. Plan A, so far, has involved increasingly shrill cries from our business leaders berating Canberra and the media for ruffling the waters and endangering our lucrative $250 billion ...

As Australia's relationship with China deteriorates beyond repair, we need to find new trade partners Posted SunSunday 13 updated SunSunday 13 Australia's relationship with China now seems beyond repair. ( Share Print text only So, what's Plan B? For Australian exporters suddenly caught in the headlights of an increasingly hostile regime in Beijing, the answer, it appears, is: there isn't one. If it hasn't sunk in quite yet, the chances of a rapprochement are slimming by the day and any chance of mending the relationship now seems out of reach. Plan A, so far, has involved increasingly shril...

MacroBusiness Access Subscriber Only Content Iron ore prices for December 11, 2020: Spot up again. Paper as well. Steel has not updated. Records are tumbling. As iron ore roars higher: It is only $7 below its all-time AUD high: As Dalain futures hit their all-time high: China is not happy, whinging like a stuck pig: China’s steel industry body has demanded an explanation from Anglo-Australian miner BHP about the surging cost of iron ore, in a fresh sign of Beijing’s growing frustration about runaway prices for the steelmaking ingredient. The China Iron & Steel Association (CISA) held a vi...

BHP to maintain stable iron ore supply despite cyclone – China steel body Miner BHP BHP.AX on Thursday assured the China Iron & Steel Association that adverse weather conditions in Australia that helped propel iron ore prices to record highs would not impact its monthly shipment volumes, the Chinese steel body said. Pilbara Ports Authority in Western Australia earlier on Thursday said it had started to clear large vessels out of Port Hedland, the world’s biggest iron ore export hub, which is used by BHP, and issued a cyclone warning. BHP, however, said the weather would have “no impact ...