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Iron ore price meltdown

At the end of the latest offshore session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $62.80 a tonne, down 0.8 per cent from its previous close of $63.30 a tonne. The

Iron ore sinks below $80 on China slowdow

Following a short-lived rally last week that took the commodity to $85 per tonne, the benchmark iron ore price for immediate delivery at the port of Tiajin in China dropped 2.3 per cent to $79.80 per tonne overnight on Monday,

Iron ore mines starting to close

While the iron ore sector is already facing the brunt of the commodity price slide, which hit a new five-year low of $US83.60 a tonne over the weekend, observers are warning the effects are likely to be felt across the

Iron ore global glut deepens

Iron ore with 62 percent content at the Chinese port of Qingdao dropped 0.7 percent to $87.70 a dry ton today, the lowest since October 2009, according to data compiled by Metal Bulletin Ltd. The raw material fell for a

China to import 842 Mt of iron ore in 2014

Despite the slowdown in its steel industry, China is consolidating its position as the leading importer of iron ore and relies on Australia for half of its purchases. The Chinese steel industry will produce 799Mt of crude steel products in 2014,

Record low for Shanghai rebar, Iron ore price slumps

The most-traded rebar contract for May delivery on the Shanghai Futures Exchange touched a session low of 3,446 yuan ($570) a tonne, within striking distance of a record trough of 3,441 yuan reached on Jan. 10. It closed 0.4 percent

Baltic dry index up 50% in 4 weeks

The Baltic Dry Index, a benchmark of commodity shipping rates, jumped 9.3 percent to 1,478 on Monday, the biggest gain since June 2009, according to the Baltic Exchange, the London-based publisher of freight rates on more than 50 trade routes.

Iron ore giants “race to the bottom” despite fear of supply glut

Iron ore giants are digging more for less to tighten their stranglehold on the world’s second-biggest commodity market, as competitors struggle. By doing so, they appear to defy logic, with demand for the steel-making raw material cooling in top customer China

Rebar Set for Weekly Decline as Iron Ore Falls to Five-Month Low

Steel reinforcement-bar futures headed for a weekly loss as the price of iron ore, the main ingredient in steelmaking, fell to the lowest in five months. Rebar for delivery in October on the Shanghai Futures Exchange fell as much as

Unexpected surge in the global iron ore price

At $80 in September 2012, the iron ore price was at its lowest for the past 3 years. In 3 months, it surged to a current price around $150 a tonne, a 80% increase! But will it last? As it