May 2020

IRON ORE DAILY: Strong steel production supports seaborne iron ore prices

Seaborne iron ore prices stayed above $90 per tonne on Thursday May 14, supported by improving production levels and decreasing steel inventories in China, sources told Fastmarkets.

RESEARCH: Key takeaways from the latest Steel Raw Materials Market Tracker

The latest forecasts from Fastmarkets’ team of analysts are ready to view.

Glencore, Anglo, Vale excluded from Norway’s $1 trln oil fund

Glencore, Anglo American and Vale have been excluded from Norway’s oil fund while BHP has been placed on an observation list as the $1.1 trillion fund tightens up its environmental, social and governance (ESG) requirements.

IRON ORE DAILY: Good demand in China keeps seaborne prices steady

The seaborne iron ore market largely maintained current levels on Wednesday May 13, with good demand for steel and consumption of iron ore continuing to support prices.

Baosteel, Rio Tinto conclude yuan-based, paperless iron ore deal on digitization push

Australian iron ore major Rio Tinto and China’s steel giant Baoshan Iron & Steel (Baosteel) have completed their first paperless, yuan-denominated iron ore deal, underlying both the increasing digitization of iron ore trades and importance of the Chinese currency, DBS Bank, which was one of the enablers of the deal, said on Tuesday May 12.

Rio Tinto watching M&A opportunities with patience, not complacency, CEO says

Mining company Rio Tinto is maintaining an eye on the potential for merger and acquisition opportunities as a result of the Covid-19 pandemic and plans to stay "patient but not complacent," its chief executive officer said.

IRON ORE DAILY: Seaborne iron ore prices rise on concerns over Brazilian supply

The seaborne iron ore market remained resilient on Tuesday May 12, with the prices for Brazilian fines rising significantly due to concerns over supply.

BHP partners with China's Baowu Steel on new iron ore sales approaches

Mining major BHP and China’s Baowu Steel Group are exploring new approaches of conducting iron ore transactions, including the adoption of payments in renminbi and blockchain technology.

IRON ORE DAILY: Seaborne iron ore prices stable amid low port trading activity

Seaborne iron ore prices were largely stable on Monday May 11 amid slower port trading activity, while the market saw a solid premium for June delivery cargoes and good demand from Chinese mills.

Seaborne iron ore concentrates price falls further, in contrast to strong Brazil fines market

Seaborne iron ore concentrate prices continued to fall in the week to Friday May 8, under the pressure from lower pellet prices and China’s domestic concentrates market.