- Write by:
-
Tuesday, January 19, 2021 - 3:01:14 PM
-
711 Visit
-
Print
Mining News Pro - Prices for Australia’s high-grade iron ore fines have increased this week after data on China’s steel output in 2020 was revealed.
Australia’s iron ore fines prices have reached US$172.6 per tonne ($224.66), according to MySteel’s index for the 62 per cent iron ore Australian fine price on January 18.
According to Trading Economics, the 62 per cent iron ore price is $US169.97 per tonne, and the iron ore price is $US171 per tonne as of January 15.
Both commodities saw a weekly increase of 0.27 per cent and 0.89 per cent, respectively.
The price spike follows China’s record crude steel output of more than a billion tonnes in 2020, an increase of 5.2 per cent from 2019.
The rise was in favour to increased industrial demand from stimulus packages in China to bolster its economy against the impacts of the COVID-19 pandemic.
China’s Customs Administration reported that the country had imported 1.17 billion tonnes of iron ore last year, which also exceeded its 1.075 billion-tonne record in 2017.
Trading Economics also reported that the Chinese economy had grown by 6.5 per cent year-on-year in the December 2020 quarter, with the Chinese imported iron ore market growing by 72 per cent in 2020.
Iron ore giants Fortescue Metals Group and BHP have also seen an overnight increase of share prices to $25.01 (0.77 per cent) and $45.50 (0.11 per cent) on the ASX this morning.a
Short Link:
https://www.miningnews.ir/En/News/610118
Iron ore pellet producer Ferrexpo said a court has prohibited the transfer of ownership and other shares-related ...
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them ...
Indonesian state-controlled miner Aneka Tambang (Antam) aims to launch the construction of two nickel processing ...
Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and ...
Aluminum prices touched an 11-week high on Monday over concerns over slow recovery in production in China’s Yunnan ...
China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a ...
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese ...
Iron ore futures were mixed on Friday, but set for a weekly gain on mounting anticipation of a pick up in demand in top ...
The Pataz Unified Command, whose members hail from the National Armed Forces and the National Police, detained three men ...
No comments have been posted yet ...