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Iron ore slumps on subdued China demand outlook for second half | Hellenic Shipping News Worldwide


Iron ore slumps on subdued China demand outlook for second half
Iron ore futures in Asia fell on Thursday, pressured by the prospects of a slowdown in demand for the steelmaking ingredient in top buyer China, and despite tempered shipment expectations from its biggest producer, Rio Tinto.
The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange slumped 2.5% to 1,105 yuan ($170.67) a tonne by midday break, extending losses into a third straight session.
Iron ore’s most-active September contract on the Singapore Exchange shed 3.5% to $188.60 a tonne by 0346 GMT.
Rio Tinto expects its iron ore shipment this year to be at the low end of the forecast range, which remains subject to weather and market conditions. ....

Enrico Dela Cruz , Vinay Dwivedi , Group Ltd , Rio Tinto , Shanghai Futures Exchange , China Dalian Commodity Exchange , Singapore Exchange , Australia Fortescue Metals Group Ltd , Dalian Commodity Exchange , Fortescue Metals Group Ltd , வினய் டுவிவேடி , குழு லிமிடெட் , ரியோ டின்டோ , ஷாங்காய் எதிர்காலங்கள் பரிமாற்றம் , சீனா டேலியன் பண்டம் பரிமாற்றம் , சிங்கப்பூர் பரிமாற்றம் , ஆஸ்திரேலியா ஃபார்‌டெஸ்க்யூ உலோகங்கள் குழு லிமிடெட் , டேலியன் பண்டம் பரிமாற்றம் , ஃபார்‌டெஸ்க்யூ உலோகங்கள் குழு லிமிடெட் ,

Fortescue COO, executives step down amid Iron Bridge review


By Reuters Staff
3 Min Read
MELBOURNE (Reuters) - Australia’s Fortescue Metals Group Ltd said on Tuesday Chief Operating Officer Greg Lilleyman and two other executives have resigned as part of a review of its Iron Bridge Magnetite project in Western Australia.
The $2.6 billion high-grade ore project, which is key to Fortescue’s growth strategy, was on track to start exports in the first half of 2022, it said last month, after the Australian newspaper reported the project faced a cost blowout of as much as 25%.
Higher ore grades would mean Fortescue could blend the material with that of its lower grade products to get better prices and potentially win market share from peers BHP Group, Rio Tinto Ltd and Vale SA.. ....

Melanie Burton , Elizabeth Gaines , Manie Mcdonald , Don Hyma , Greg Lilleyman , Peter Oconnor , Shashwat Awasthi , Ian Wells , Richard Pullin , Krishna Chandra Eluri , Thomson Reuters Trust Principles , Rio Tinto Ltd , Australia Fortescue Metals Group Ltd , Fortescue Metals Group Ltd , Tuesday Chief Operating Officer Greg Lilleyman , Iron Bridge Magnetite , Iron Bridge , Executive Officer Elizabeth Gaines , Sino Iron , Western Australia , Thomson Reuters Trust , Asia Pacific , Content Produced In Bangalore , Key Personnel Changes , Company News , China Prc ,

Australia's Fortescue expects robust demand for steel next year | Hellenic Shipping News Worldwide


Australia’s Fortescue expects robust demand for steel next year
Australia’s Fortescue Metals Group Ltd expects iron ore demand to be strong next year thanks to a solid Chinese steel market and post-pandemic recoveries in other countries, a senior company executive said.
Iron ore prices soared this month towards $150 a tonne due to ongoing supply issues in Brazil where miner Vale trimmed its 2020 output forecast last week, pushing up prices which have already gained more than 80% this year.
“We continue to expect strong market dynamics,” Fortescue’s Danny Goeman, director of sales and marketing, said.
“Obviously supply continues to be constrained. On the demand side, even outside of China, our customers keep telling us there is very strong steel demand,” he told a briefing that marked the start of ore processing at Fortescue’s Eliwana mine expansion. ....

South Korea , David Clarke , Sherry Jacob Phillips , Melanie Burton , Fortescue Danny Goeman , Elizabeth Gaines , Fortescue Eliwana , Its Fortescue Future Industries , Australia Fortescue Metals Group Ltd , Fortescue Metals Group Ltd , Danny Goeman , Iron Bridge , Chief Executive Elizabeth Gaines , Fortescue Future Industries , Rashmi Aich , தெற்கு கொரியா , டேவிட் கிளார்க் , ஷெர்ரி ஜாகோப் பிலிப்ஸ் , மெலனி பர்டன் , எலிசபெத் ஆதாயங்கள் , அதன் ஃபார்‌டெஸ்க்யூ எதிர்கால தொழில்கள் , ஆஸ்திரேலியா ஃபார்‌டெஸ்க்யூ உலோகங்கள் குழு லிமிடெட் , ஃபார்‌டெஸ்க்யூ உலோகங்கள் குழு லிமிடெட் , இரும்பு பாலம் , தலைமை நிர்வாகி எலிசபெத் ஆதாயங்கள் , ஃபார்‌டெஸ்க்யூ எதிர்கால தொழில்கள் ,