Generally, ore is a rock, containing enough amount of a metal. Low grade ores have a small amount of metal while high grade ones are richer and contain a larger percentage of mineral. Iron ore, consisting 5% of Earth’s crust, is the source of iron which is primarily used to produce steel. Steel is applied…
China, the Biggest Importer of Iran’s Iron Ore
بازار جهانی سنگ آهن 11 جولای 2019
خلاصه جامع: به گزارش متال بولتن قیمت سنگ آهن حمل شده از راه دریا در روز چهارشنبه 10 جولای سیر نزولی در پیش گرفت زیرا خریداران در پاسخ به افزایش موجودی محصولات استیل، دست از خرید کشیده و صبر کرده اند. شاخص سنگ آهن عیار 62 درصد 0.61 دلار و شاخص سنگ آهن عیار 65…
The Ups and Downs of Iron Ore Market on 2019
Iron ore increased prices may trend down if the supply shocks disappear. Recently supply-side disruptions caused iron ore prices to jump in levels that have not been seen for a long time. Fastmarket’s 62% iron ore price was above 90$ per MT (CFR, Qingdao basis) on the first half of April 2019 which is the…
Uncertain Iron Ore Future Due to Suspension of More Vale’s Dams
Vale S.A., based in Brazil is the second largest iron ore producer globally, engaged in metals and mining. On 25 January 2019, one of Vale’s tailings dams collapsed and some 300 people were killed, causing a widespread uncertainty in iron ore future. A local court in Itabira city of Brazil, located in Minas Gerais suspends…
Boost of Iron Ore Demand by China’s VAT Cuts
On Friday, March 15, China government announced that the value added tax (VAT) will be declined from April 1. This rule is issued to support manufacturing and decrease the factory costs. VAT for manufacturing sectors changes to 13% from 16% which means 3% reduction. For transportation and construction sectors, it reduces from 10% to 9%.…
China’s Solutions to Compensate Any Potential Losses Caused by Vale’s Dam Accident
Brazil behind Australia is the second largest iron ore producing country of the world. About 70% of Brazil’s iron ore is exported to East Asia and about 15% to European countries. Brazil is producing the highest quality iron ore of the world. It is important to note that in 2018 the average Fe content of…
Iran among the Ten Superior Iron Ore Producing Countries of the World
Iron ore as the main raw material used widely in steelmaking is more integral to the global economy than any other commodity! About 98% of the mined iron ore is applied to produce steel which has extended uses in manufacturing of roads, railways, vehicles, appliances, buildings, and other infrastructures. Durability and strength of iron ore…
IRON ORE Market on Jan 29th 2019
Shanghai Vale dam incident in Brazil pushes up prices. Iron ore prices shot up across the board on Monday January 28 amid market expectations of supply disruptions following a tailings dam failure at Vale’s Córrego do Feijão mine in Brazil. MB 62% FE IRON ORE INDEX: $78.18 per tonne cfr Qingdao, up $3.49 per tonne. MB…
IRON ORE MARKET on Jan 18th 2019
According to Platts, it was assessed the 62% Fe Iron Ore Index at $75.95/dry MT CFR North China Friday, up $1.20/DMT from Thursday. The seaborne iron ore market strengthened Friday supported by expectations that steel prices will go up further after Lunar New Year holidays. The lump premium market rose Friday. Offers for Pilbara Blend…