Iron ore price

2022 - 6 - 21

Post cover — Image courtesy of "Financial Times"

Iron ore price surrenders gains for the year as Chinese demand cools (Financial Times)

Steelmaking commodity hit by investors' concerns over construction output in key market.

Iron ore price sinks amid growing pessimism over demand outlook ... (MINING.com)

A raft of supportive policy measures from Beijing over the last couple of months have failed to result in persistent price gains.

Downstream demand remains poor with few spot trades occurring, and the bleak outlook for China’s construction industry continues to test market confidence, Mysteel said in a separate note. Blast furnace rates in Tangshan fell last week for the first time since mid-May, with industry consultant Mysteel saying in a note that more mills are cutting output to do maintenance due to weak margins. “Steel prices have dropped to 16-month lows as inventory rises,” analysts at Westpac said in a note.

MMi Daily Iron Ore Index Report June 20 2022 | Hellenic Shipping ... (Hellenic Shipping News Worldwide)

DCE iron ore was opened fell by more than 8%, and the intraday limit fell twice in a row.The main contract closed 746,decreased of 10.98%.

It is expected that the mining price will continue to fluctuate weakly in the short term. Since last week, some steel mills have started to cut production on their own due to profit losses and poor sales of finished products. PBF at Tangshan port dealt 820-830yuan/mt, decreased 55-60 yuan/mt than last week.

Iron ore price sinks and steel mills go dark on deepening China gloom (Business Standard)

Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.

Chg(%) Chg(%) Chg(%) Price() Chg(%) Price()

Column: Iron ore suffers short-term demand woes, longer-term ... (Reuters)

The spot price of iron ore has had a torrid time lately, caught between short-term concerns about the economic health of top buyer China and a longer-term ...

Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

'Very nervous': iron ore markets swing violently (The Australian Financial Review)

Iron ore markets are delicately poised as traders weigh up Beijing's promises of economic stimulus with the ongoing pursuit of its zero COVID-19 strategy.

Companies more exposed to the iron ore sector have been hit even harder. But it remains to be seen whether China can achieve it.” Prices recovered some of those losses on Tuesday to reach $US115 a tonne by midday. The swift decline in iron ore prices has weighed on the Australian sharemarket, with mining giants BHP and Rio Tinto declining more than 10 per cent over the past fortnight, This has coincided with the re-emergence of reports last week that China is planning to set up a group by the end of the year to centralise the purchase of iron ore, further weighing on sentiment. “There was a lot of expectation built into the iron ore price about more stimulus and construction in China in the second half, so to have signals coming through that counter that is testing the market’s patience,” said Lachlan Shaw, co-head of mining research at UBS.