Surging spot prices of iron ore are forcing steel mills to look for more domestic supplies, something that would also reduce their dependence on costly imports, industry insiders said.
Tags: industry, iron-ore, steel
This year’s iron ore benchmark talks will not end in agreement any time soon because Chinese steel mills will not accept a price that is higher than what the processed products can be sold for, Deng Qilin, the president of Wuhan Iron & Steel Group, said yesterday.
Deng, who is also the chairman of the China [...]
Imported iron ore stockpiles at China’s leading ports increased by 310,000 tons last week, hitting a three-month high of 67.42 million tons as of Jan 22, the China Securities Journal reported today, citing industry data.
Shipments from Australia increased by 200,000 tons to 22.23 million tons, compared with the previous week, accounting for 33 percent of [...]
China discovered nearly 5 billion tonnes of iron ore deposits in 2009, chief engineer with the Ministry of Land and Resources (MLR) said Friday.
The deposits were discovered in provinces including northeastern Liaoning, northern Hebei, eastern Shandong and Anhui,and southwestern Sichuan, said Zhang Hongtao, MLR chief engineer.
The total discovered deposits included an iron ore deposit withan [...]
Exploration work in the eastern region of north China’s Hebei Province shows potential iron ore reserves in this area is estimated to top 10 billion tonnes, the China Metallurgical Geology Bureau (CMGB) said Saturday.
A total of 3.44 billion tonnes of iron ore has been verified in five mines in the province, said Yan Xueyi, director [...]
China Iron and Steel Association (CISA) opposed the joint venture between Australian mining giants Rio Tinto and BHP Billiton, calling for resistance from all countries on the monopolistic alliance, China Daily reported Friday.
The planned 116 billion U.S. dollars joint venture would harm competition and push up global iron ore prices, and urged “customers across the [...]
