Iron Ore Trades Below $90 a Ton for First Time Since 2024
Iron ore futures in Singapore slipped to a two-year low under $90 a ton, extending a retreat fueled by soft demand in China and too much global supply.
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Iron ore futures in Singapore slipped to a two-year low under $90 a ton, extending a retreat fueled by soft demand in China and too much global supply.
Rio Tinto Groupโs copper production remained steady in the third quarter as a strong performance at its Oyu Tolgoi mine in Mongolia offset declines elsewhere, while shipments of iron ore rose marginally.
Vale's New York shares fell 1.40% to US$13.42 as Chinese steel losses deepened and hot-metal output fell to a six-month low of 2.34 million tonnes. The post Vale ADR Falls 1.4% as China Steel Losses Deepen | Iron Ore, Oct 8 appeared first on The Rio Times.
Iron ore miner Fortescue Ltd. reported a drop in sales, as a standoff with state-backed buyer China Mineral Resources Group Co. over long-term supply contracts and price negotiations drags on.
Valeโs New York shares rose 2.83% after a court approved a partial restart of its Fรกbrica iron-ore mine. See the proxies and what to watch. The post Vale ADR Gains 2.8% as Court Backs Fรกbrica Restart | Iron Ore, Oct 5 appeared first on The Rio Times.
Radiant World is cutting staff beyond its core iron ore business after a Singapore court last week took control of the troubled commodity trader away from its founder.
Vale's New York shares closed at US$14.21, down 1.80%, while CSN Mineraรงรฃo fell 10.20% in Brazil. China's pre-holiday restocking lent support, but demand doubts The post Vale Slips as China Restocks Iron Ore Before the October Holiday appeared first on The Rio Times.
Iron ore was headed for a weekly gain after recovering from a sharp decline earlier in the week, even as weak steel demand and shrinking mill margins weighed on the outlook.