- Write by:
-
Thursday, June 9, 2022 - 14:23:52
-
581 Visit
-
Print
Mining News Pro - The iron ore price fell on Wednesday as reduced profitability at Chinese steel mills following a recent rally in prices of steelmaking ingredients weighed on sentiment.
Benchmark 62% Fe fines imported into Northern China fell 0.3% Wednesday morning, to $145.84 per tonne.
The most-traded iron ore contract for September delivery on China’s Dalian Commodity Exchange DCIOcv1 ended daytime trading 0.5% lower at 926.50 yuan ($138.85) a tonne.
A rally that began in late May had propelled Dalian iron ore to a 10-month high on Monday, underpinned by renewed optimism around demand in China.
Worries about shrinking stocks of imported iron ore at Chinese ports had added fuel to that rally.
“The short-term drive is upward but the valuation is on the high side, and the risk of volatility will increase in June-July,” Zhongzhou Futures analysts said in a note.
“Iron ore fluctuates at a high level,” Zhongzhou analysts said, blaming low profits that have prompted mills to be cautious on purchases.
Short Link:
https://www.miningnews.ir/En/News/621481
Brazil’s Corumba region could more than double iron ore shipments through neighboring Uruguay this year if there is ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Iron ore futures were poised for a third straight weekly rise as prices largely consolidated gains on Friday, with ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco ...
Brazilian miner Vale on Wednesday said lower prices for iron ore, nickel and copper in the first quarter dragged down ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
No comments have been posted yet ...