Current iron ore prices in China indicate a price hike for the third consecutive day of April 3, 2019, in light of the incidents that have taken place for the world’s biggest iron ore exporters, namely, the Vale of Brazil and Rio Tinto. Price of ron ore 62 cfr china today at 89.89 $ / t, according to the latest Metal Bulletin publication.
Iron ore 65 spot price = 101$/T
The statistics show the upside of the iron ore price chart in the first three months of 2019. The price of iron ore for the first three months for iron ore 58 fe, iron ore 62 fe and 65 fe changed about 1.6% to 3%. The most important driver of prices was the defeat of the Brazilian Vale mine as the largest iron ore exporter in the world. The incident has led to a drop in the company’s iron ore exports to about seventy million tons. But the complicated story of iron ore exporters for 2019 and rising prices continues. The current iron ore prices in china has already been rejected by the $ 100 limit.
We will review the latest news about the global developments that have led to price volatility in the iron and steel industry.
Rio Tinto iron ore exports
Rio Tinto, the world’s second-largest iron ore producer, has apparently suffered damage during the storm that struck East Asia last week. The limitation of the shipping and export of this company to the global market due to this occurrence is related to section A of the Capelambert port. The port’s loading capacity is about 85 million tons of iron ore. The incident could have an adverse effect on the world iron market. This has reduced the supply of 14 million tons of iron ore during the week.
Iron ore exports news – Brazilian Vale Corporation
But the story of Vale, Brazil, the world’s largest exporter of iron ore, has never been over. In the latest reports, there are reports of the insecurity of the three other tailings of the Brazilian company Vale and the depletion of mines and villages. On the other hand, there have been storms and heavy rains in Brazil for several days that blocked the loading of iron ore at the port of pdm. This port is the most important port for the export of carajás mine brazil.
Currently, two world-known iron ore export giants are in difficulty. And this is the most important driver of iron ore prices.
BHP Iron Ore Exports
Of course, the third factor in triggering the price of iron ore on April 2, 2019, BHP was the third largest iron ore producer in the world, announcing major sales to its buyers. The company said its production dropped to around eight million tons this year (2019) due to the Veronica storm in Australia.
The iron ore index price china continued its uptrend. Magnetite iron ore price has now gone up to 62% of the $ 90 range. Forecast price of iron ore due to recent events is currently uptrend.
Iran iron ore price
Iran iron ore price in this section. The price of iron ore is now $ 57.4 FOB delivery to Iran. Hematite iron ore 62 price in the FOB is $ 53.8 for April 03, 2019.
World steel prices today
At the moment, the global index of the price of mineral products, steel and iron ore are at the top of the table. Reducing iron ore exports to around 80 million tonnes in global markets has led to an upswing in iron ore prices, followed by iron and steel scrap. We have reviewed the latest billets and slab steel price today in the following article. Please login to study.
Article: billets and slab steel price today
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