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Iron-ore rallies as China imports bust 100Mt level

By: Bloomberg     13th October 2017 Iron-ore imports by China surged above 100-million metric tons to a record, smashing the previous high set in 2015, as the country’s concerted push to clean up the environment stoked demand for higher-grade material from overseas while hurting local mine supply. Prices rallied. 

China gobbles Amazon rainforest ore to clean polluted skies

By: Bloomberg     12th October 2017 A bid by China to clean up pollution in its biggest cities and industrial towns is fueling a push to mine resource riches on the other side of the globe in the Amazon rainforest -- one of the most environmentally sensitive areas on Earth. Smog-laden skies across the world’s most-populated country... 

China steel rises as market eyes winter cuts; iron-ore, coal slide

By: Reuters     9th October 2017 Shanghai steel rebar futures jumped nearly 3% on Monday as Chinese markets reopened after a week-long holiday, with investors anticipating production cuts in the world’s top steel producer as the country fights smog. Prices of steelmaking raw materials iron-ore and coking coal fell, reflecting... 

China steel futures rise as winter cuts kick in early

By: Reuters     27th September 2017 China's iron ore and steel futures climbed on Wednesday after some cities in the north of the country announced an early start to winter restrictions on mill output, though coke and coking coal both continued to fall on worries over faltering demand. The most-traded construction steel futures... 

BHP says China's machinery sector will offset construction weakness

By: Reuters     27th September 2017 China's rising middle class and a growing machinery sector will counter any weakness in steel demand in construction over the next decade, an official at Australian iron ore miner BHP Billiton said on Wednesday. Population in China, the world's top consumer of steel and its raw material iron... 

Australia's Roy Hill says can expand iron ore capacity beyond target

By: Reuters     27th September 2017 Australian iron-ore miner Roy Hill Holdings Pty Ltd has the ability to expand its production capacity beyond the 55-million tonnes it has targeted, its chief executive said on Wednesday. Roy Hill, controlled by Australian billionaire Gina Rinehart, is closing in on that 55 million tonnes a year... 

Iron-ore succumbs to bear market and may extend slump into $50s

By: Reuters     25th September 2017 Iron-ore has slumped back into a bear market after posting the biggest weekly loss in 16 months amid concern that record demand in China may ease off as mills enact winter output cuts just as data from the top user signals that the economy may be cooling. Losses have probably been driven by “the... 

Iron-ore sinks as 'peak steel' call, supply angst rattle market

By: Bloomberg     20th September 2017 Iron-ore has been dragged back into the $60s after getting hit by a barrage of bad news, with persistent concern about rising global supply, fresh questions about the outlook for demand in China, and a warning from Australia’s central bank that the top buyer may be nearing peak steel. The... 

Iron-ore's kings spend again as China just can't stop buying

By: Bloomberg     30th August 2017 The biggest iron ore producers in Australia are spending as much as $10-billion on mines so they can keep pumping out shipments to China as demand in their biggest customer shows little sign of easing. Led by Rio Tinto Group, the nation’s top three exporters plan to add about 170-million metric... 

Goldman's now bullish on iron-ore this year but warns on 2018

By: Bloomberg     27th July 2017 Goldman Sachs Group boosted its iron-ore forecasts after better-than-expected demand in China raised prices, but combined the revised outlook with a warning that it remains bearish on next year on prospects for plentiful mine supplies and a worldwide glut. The three-month forecast was raised to... 

Iron’s surge to $70 draws out sceptics as prices reverse

By: Bloomberg     21st July 2017 Iron-ore’s strong start to the second half and surge above $70 a metric ton will probably fade through the year-end as demand from top buyer China slows and global mine supplies remain robust, according to Sucden Financial and Bank Julius Baer & Co. “Any significant uptick in seaborne cargoes... 

Volt signs fourth graphite offtake agreement

By: Esmarie Swanepoel     17th July 2017 Graphite developer Volt Resources has signed a fourth offtake agreement with a Chinese customer, filling in full the Stage 1 capacity of its Namangale project, in Tanzania. Qingdao Tianshengda Graphite has signed an offtake term sheet for an initial 10 000 t/y of flake graphite product from the... 

One-billion tons of iron-ore are headed to China's mills in 2017

By: Bloomberg     13th July 2017 Iron-ore imports by China this year are on course to exceed one-billion metric tons by a comfortable margin, breaking 2016’s record, after figures for the first half showed another jump in cargoes and highlighted the ability of the largest steelmaker to absorb rising seaborne supplies. Shipments... 

Paper trail on metal loans ended in fakes as banks lose millions

By: Bloomberg     4th July 2017 For all the high-tech wizardry of modern financial markets, there’s one corner of the commodity world that still depends almost entirely on printed paper – making it an easy target for crooks. Buyers and sellers of base metals like copper, aluminum and nickel use documents known as warehouse... 

As nasty quarter ends, iron's reprieve sees futures back in $60s

By: Bloomberg     28th June 2017 After what’s been a tough quarter, iron ore’s getting a small reprieve. Futures clawed their way back above $60 a metric ton and spot prices have rebounded from a one-year low as steel output holds up in China, buoying demand for the material even as its supply rises. The SGX AsiaClear contract... 

Iron-ore outlook cut back by Morgan Stanley over rest of year

By: Bloomberg     27th June 2017 Iron-ore forecasts at Morgan Stanley have been chopped back for the remainder of the year, with the bank flagging prospects for rising low-cost production and the likelihood that the worldwide surplus will increase every year through to 2021. The commodity will average $50 a ton in the third... 

Iron seen in low-$40s by Citi as supply grows, demand peaks

By: Bloomberg     20th June 2017 Iron-ore may extend a slump into the low-$40s as supplies swell and demand reaches a short-term peak amid steel mill restarts and ramp-ups in China, according to Citigroup, which cut its forecasts by as much as 20% over the next year. The nadir in prices may occur in six to eight months, analysts... 

Forgery fears at Glencore unit spur nickel financing lawsuit

By: Bloomberg     12th June 2017 Glencore’s Access World unit was drawn into a London lawsuit over losses from a finance deal that allegedly relied on forged warehouse receipts for nickel, reigniting concerns about fraud in the storage of commodities. a London lawsuit over losses from a finance deal that allegedly relied on... 

Iron stockpiles hit record in China as quality gets scrutiny

By: Bloomberg     22nd May 2017 he record heap of iron-ore on China’s doorstep just got even bigger, with the increase in holdings so far this year eclipsing the build up seen over all of 2016 as mills produce unprecedented amounts of steel. Stockpiles at ports rose 1.3% to 136-million metric tons, expanding for a fourth week,... 

Iron revival snuffed out as 'weakest commodity' drops again

By: Bloomberg     8th May 2017 Iron-ore’s attempt at a rebound lasted just a few short hours as investor concern over robust supplies, including near-record port stockpiles, and speculation some traders in China were rushing to offload holdings combined to snuff out the brief gain. In Singapore, SGX AsiaClear futures fell 2.1%... 

Iron slumps into bear market as Barclays sees further losses

By: Bloomberg     10th April 2017 Iron-ore’s descent into bear-market territory may herald further weakness, with Barclays pinning the blame for the slide on lower steel demand in China driving a shift from mills toward lower-quality ore and raising the prospect of a drop into the $50s. Ore with 62% content in Qingdao fell 1%... 

Fortescue moves on growing markets outside steel giant China

By: Bloomberg     7th April 2017 Fortescue Metals Group is making iron-ore marketing forays to steel-producing nations outside China to tap forecast increases in demand from burgeoning infrastructure projects across the region. The world’s fourth-biggest exporter’s mines in northwestern Australia are well-positioned to take... 

Top iron miners' cash juggernaut set to survive price crash

By: Bloomberg     13th March 2017 The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90% of... 

Surging iron-ore won’t ‘fall off a cliff’, says Rio Tinto

By: Bloomberg     13th February 2017 Iron-ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial... 

Choking China backs race to mine greener iron-ore for top mills

By: Bloomberg     9th February 2017 Chinese engineers who carved a railway through the Tibetan plateau and built the world’s longest sea-bridge across Hangzhou Bay have a new challenge: developing a $3.4-billion project on Australia’s remote Eyre Peninsula to meet increased demand for cleaner iron ore. China Railway Group Ltd., the... 

Iron to ‘correct down sharply’ as supply rises, Citigroup says

By: Bloomberg     24th January 2017 Iron-ore is headed for a sharp decline as higher-grade supplies from Brazil and Australia are set to increase, according to Citigroup, which combined its forecast for a second-half tumble with upgrades to the bank’s outlook in the opening quarters of the year. Recent gains have been supported by... 

Thirty-two tons a second shows China’s record iron appetite

By: Bloomberg     13th January 2017 Iron-ore imports by China surged to a record above one-billion metric tons last year as unexpectedly strong steel production and lower local mine output combined to fire up demand in the world’s top buyer for cargoes from Australia and Brazil, supporting a rebound in prices. Asia’s top economy... 

Would-be kingmaker calls out Australian iron giants in ore tax battle

By: Bloomberg     12th January 2017 The world’s biggest mining companies producing iron ore from Australia aren’t paying their fair share in taxes, according to a lawmaker who wants a 20-fold raise in a state levy that’s been unchanged since the 1960s and the era of imperial pounds, shillings and pence. The proposal has... 

Year’s best miner Cliffs says Trump to keep good times rolling

By: Bloomberg     10th December 2016 The head of Cliffs Natural Resources Inc. was preparing for a “worst-case scenario” next year. Instead, he got Donald Trump. Cliffs, the world’s best-performing raw materials producer this year, will probably generate “a lot” of cash, with which it will pay down debt, Chief Executive Officer... 

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

Kibo receives integrated draft financial model for MCPP

By: Anine Kilian     1st December 2016 Tanzania-focused mineral exploration and development company Kibo has received an advanced draft of the integrated financial model for the Mbeya coal-to-power project (MCPP) from its financial advisers, Absa/Barclays. The model will be the subject of extensive review and further adjustment, based... 

Iron-ore’s party gives way to hangover as China stockpiles surge

By: Bloomberg     21st November 2016 For iron-ore, it is the morning after the night before. Prices have given up most of the gains inspired by Donald Trump’s surprise win and a speculative frenzy in China, with a surge in port stockpiles in the top user reminding investors that fundamentals still count. “The speed of the recent... 

Iron-ore gets its Groundhog Day moment as tumble follows surge

By: Bloomberg     18th November 2016 Iron-ore is having a Groundhog Day moment. Prices that were pumped up on speculative enthusiasm are now headed for the biggest weekly drop in six months, echoing a sharp rise and tumble seen in April and May that was driven by a surge and fade in trading in China, the largest buyer. 

Iron-ore’s trumped up gains seen at risk after near-doubling

By: Bloomberg     11th November 2016 Iron-ore, a pacesetter of 2016’s rally in commodities, may be headed for a fall. Prices that have almost doubled since bottoming will face growing pressure on rising supply from Australia and Brazil as well as headwinds to demand in China, according to Capital Economics. 

Discipline the watchword for iron-ore miners as new supply looms

By: Bloomberg     3rd October 2016 The world’s largest iron-ore producers will need to exert tight control over supplies to keep prices at about $45 a metric ton as China’s drive to weed out unwanted steel capacity poses risks to demand, according to Singapore-based DBS Group Holdings. The raw material’s rally in 2016 may come... 

Iron giants to add 200Mt of supplies through 2020

By: Bloomberg     26th September 2016 The world’s two largest iron-ore exporters Australia and Brazil will each add about 100-million metric tons of supply through the end of the decade, boosting a global glut and hurting prices in a slump that will then force marginal miners to cut output, according to Citigroup. Shipments from... 

Kibo, Sepco agree to 3-week extension on MCPP development cost determination

By: Natasha Odendaal     23rd September 2016 Aim- and Alt-X-listed Kibo Mining has agreed to a three-week extension for the determination of the final development amount still due by China-based contractor Sepco III as part of a redefined agreement for the progression of Kibo’s Mbeya coal-to-power project (MCPP), in Tanzania. The agreement,... 

Iron’s 50m extra tons spell weaker price – Liberum

By: Bloomberg     20th September 2016 The world’s top iron-ore suppliers including Brazil’s Vale will add almost 50-million tons of supply in the 12 months to next June, undermining prices and feeding a global glut, according to Liberum Capital. Suppliers that also include Australia’s BHP Billiton, Rio Tinto and Gina Rinehart’s Roy... 

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