نمایش مطلب با برچسب iron ore price

Iron ore prices climbed on Monday over concerns that a prolonged armed conflict between Russia and Ukraine could curb global supply
The most-traded May iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 2.7% higher at 705.50 yuan ($111.82) a tonne
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On the Singapore Exchange, iron ore’s most-active April contract rose as much as 3.3% to $141.25 a tonne
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $138.09 a tonne during morning trading, up 2.6% compared to Friday’s closing
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Any prolonged military campaign will severely impact annual iron ore exports totaling almost 70 million tonnes from Russia and Ukraine, eventually tightening the global balance,” said Atilla Widnell, managing director at Navigate Commodities in Singapore
While Russia and Ukraine are not major suppliers of iron ore to China, the two countries now at war usually export the steelmaking ingredient to other European countries
Russia’s top steelmakers have seen exports drop since the incursion began, while nickel shipments have also been affected, people with knowledge of the matter told Bloomberg
Russia’s metal shipments are falling and buyers are “hesitant in the context of sanction uncertainty and escalation,” Goldman Sachs analysts said in a note
Ukrainian iron-ore miner Ferrexpo Plc said on Friday the availability of rail capacity to ship its pellets to customers in Europe was unclear. The London-listed company, which operates three mines in central Ukraine, said it’s delaying the publication of its full-year results
As this month’s Beijing Winter Olympics has ended, rebounding Chinese blast furnace capacity utilization rates, which should result in the quicker drawdown of iron ore inventories at Chinese ports, are also expected to offer further price support, Widnell said
Support for iron ore remained intact even as China’s state planner kept a close eye on market activities following the recent strong price rally
The National Development and Reform Commission, which has warned against iron ore hoarding, market speculation and disinformation, on Monday reminded traders of regulators’ increased supervision of both spot and futures markets to ensure stable prices

The iron ore price rose on Friday as traders returned from the New Year holidays feeling optimistic about potential demand recovery in China
 According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.03 a tonne during morning trading, up 0.3% compared to Thursday’s closing, the highest since October 12
Iron ore’s most-active May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day
“The current rise in raw materials and the limited production during the Winter Olympics have boosted steel prices to a certain extent, but the demand side is still weak,” Sinosteel Futures analysts said in a note
China is expected to curb mills’ operations in its steel production hubs to ensure clean air during the Beijing 2022 Olympics next month
But analysts said hopes for an easing of steel production controls after the Games have helped underpin iron ore, along with some restocking demand ahead of the Chinese Spring Festival holidays starting January 31
“After the Winter Olympics, there is an opportunity to relax the production limit (for steel),” analysts at Zhongzhou Futures said in a note