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Global production of iron ore pellets in 2020 decreased to 524 million mt, down 4.5% compared to 2019. Exports of pellets also fell in 2020 reaching 132 million mt, down 4.8%. The largest iron ore pellet exporters are in order: Sweden, Canada, Ukraine, Brazil and India. Table 2 — Country and regional iron ore production, 2019-2020 (million mt, %).
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Here's a more recent estimate of the iron ore cost curve, courtesy of JP Morgan: So, the sub-$120, or $125 a tonne pricing pulls out the marginal (mostly Chinese) producers from the picture, which...
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Local union Metabase said CSN sent a letter in January 11 saying it would reduce its workforce by 20 percent, which would result in the loss of 950 job positions. Just after the letter was sent, the job cuts started immediately, the union said. The company attributed the dismissals to the low iron ore prices.
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From 2009 to 2011 the iron ore price sustained its strength amid fiscal stimulus, central bank liquidity and a rebound in major countries from a deep recession. What followed was a multi-year phase of escalating production and a slowdown in Chinese demand growth, which fuelled a bear market from 2011 to 2015.
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Jul 20, 2022Iron ore guidance dropped to 310 -320 million t. Copper guidance now stands at 270-385 million t. Vale cuts 2022 iron ore, copper production outlook - Mining Journal
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Nov 29, 2021SAO PAULO/NEW YORK, Nov 29 (Reuters) - Brazilian miner Vale SA (VALE3.SA) on Monday lowered the ceiling for its 2021 iron ore production outlook to 320 million tonnes from a previous estimate of...
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ArcelorMittal reducing its stake in Mary River, a massive iron ore project in the Canadian Arctic that will cost $4-billion to develop at a time when profits have been decimated at the world's ...
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At a first glance, Fortescue is the iron ore producer having more green check marks than its competitors. It only fails the 5-year PE metric by a negligible amount of 0.04 (20.04 versus 20).
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But Widnell said inflation has added to mine production costs, so iron ore prices should not fall too steeply. In the spot market, benchmark 62%-grade iron ore traded at $103 a tonne on Friday ...
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2021 Dow Jones & Company, Inc. 0941 ET - The price of iron ore has collapsed recently, and demand might weaken further after Chinese real estate developer Evergrande's problems and because of the ...
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Iron ore fines production guidance changes Mt ¹ Previous guidance was 340-355 Mt. ² Comparing with upper limit of 63-68 Mt guidance in 1Q20. 3Associated with the delay of Morro 1 mining section startup. 4Resumption of halted operations was expected to add 15 Mt in 2020. Due to postponements, it is expected to add 8 Mt.
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High iron ore prices are tipped to continue into Q2, supported by rising steel production and reduced steel inventories, according to the latest S&P Global Platts Iron Ore & Steel Outlook. ... Steel production to rise in Q2. 61% see iron ore prices range $140-$160/mt CFR. China's scrap imports seen rising, but views mixed on iron ore impact ...
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Apr 18, 2016Fortescue chairman Andrew Forrest says iron ore oversupply remains despite price rally Citigroup analysts forecast a decline in iron ore prices in the second half of 2016 due to continued...
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A company that recycles waste rock from taconite production on the Iron Range is closing one of its plants because of low ore prices. Grand Rapids, Minn.-based Magnetation, which mines the waste ...
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Plan for extension of mineral mining project in Pilbara revealed. August 10, 2022 Ministerial nod for iron ore mining extension in Pilbara. August 3, 2022 Iron ore mine's infrastructure development at key assessment point. July 6, 2022 Approval recommendation for second stage iron ore mine in WA's Pilbara ...
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TECK Vale S.A .'s VALE third-quarter 2021 iron ore production was 89.4 million tons (Mt), which came in 1% higher than the year-ago quarter and 18% higher than the second quarter of 2021. The...
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Iron ore prices have tumbled to less than half their record high in May, squeezed by demand cuts in China and margin pressures from metallurgical coal prices soaring to unprecedented levels. The free fall in iron ore prices has been so fast that some portside traders in China are facing losses almost as high as the price of ore itself.
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Australia's third biggest iron ore producer has cut its near term expansion target from 155 million tonnes of iron ore per year to 115 million tonnes, citing the recent slump in iron ore prices.
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Nov 30, 2021Vale cuts top of forecast 2021 iron-ore production range Brazilian miner Vale on Monday lowered the ceiling for its 2021 iron-ore production outlook to 320-million tonnes from a previous estimate...
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Luxembourg-based ArcelorMittal said last May it will invest $2.1-billion at its mines in Quebec to increase production of iron ore concentrate to 24 million tons by 2013 from 14 million tons, and ...
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Our Iron Valley site, located within the Pilbara, is currently our largest iron ore producing mine, outputting approximately 8 Million tonnes of iron ore per annum. Product from this mine is transported to Utah Point for export to our global markets. In 2018, we acquired the Kumina Iron Ore Project from BCI Minerals Limited. Kumina is located ...
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NMDC cuts iron ore prices. India's largest iron ore producer NMDC has reduced the price of Lump Ore by ₹300 a tonne and same quantity of Fines by ₹200. Following the revision, with effect ...
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Sep 7, 2021Seaborne iron ore prices fell sharply on Monday as they fell off another step on the road down from their previous unsustainable highs. Restriction policies have undermined sentiment, while some mills have begun selling excess iron ore on the open market. The Kallanish KORE 62% Fe index slumped $10.66/t to $133.23/dry metric tonne cfr Qingdao, the lowest
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Overall, Australia produced 922.6Mt of iron ore in 2021, accounting for nearly 40% of the global total with a marginal increase of 0.5% over 2020. Supply chain delays, maintenance, weather disruptions and labour shortages due to COVID-19-related border restrictions were the key factors behind Australia's restrained growth.
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An estimated 36% of iron ore production is loss-making so there is room for further cut backs to offset the new cheaper production. Structurally as the iron majors are intent on ramping up and China's steel capacity isn't going anywhere for the time being, iron prices should remain below $50 with downward bias.
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The globally diversified, U.K.-listed miner said iron ore output, its largest driver of underlying earnings before interest and taxes last year, rose 1.6% to 12.4 million tons in the three months ...
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Nov 2, 2021Krystal Chia. Iron ore futures traded back below $100 a ton on shrinking steel output in China and signs economic growth is facing mounting headwinds. Prices slumped as much as 8.6% in Singapore ...
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Iron ore exports fell 4.2% in 2021 to 44.358 million tonnes but rose 62.8% in value to $6.9 billion. Most of the exports went to China - 41.90% in value, the Czech Republic- 9.65% and Poland - 7.99%. Ukraine imported 1,202 tonnes of iron ore in 2021 for $184,000 and 123,000 tonnes in 2020 for $75,000.
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NMDC spurts after board approves demerger plan NMDC cuts iron ore prices by Rs 400 per tonne ... NMDC announced the production and sales of iron ore (provisional) up to month of August 2020 as under - Total production stood at 1.62 million tonnes (MT) in August 2020 compared to 1.41 MT in August 2019.
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Steel futures in Shanghai also advanced, despite concerns about intensifying COVID-19 restrictions in the worlds biggest steel producer and iron ore consumer. The most-traded January iron ore on Chinas Dalian Commodity Exchange DCIOcv1ended daytime trading 3.1% Iron ore falls on Chinas lacklustre trade data, rising stocks Thu, 08 Sep 2022 00:00 ...
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Authorities had urged local long-process steel producers to cut production by 30%-50% in March to improve air quality, sparking supply concerns as the city accounts for more than 13% of China's...
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Iron ore prices rose yesterday and closed at 807 yuan/mt, up 1.45%. In terms of spot market, traders were less willing to ship and steel mills mainly purchased as needed, hence the market transactions were modest. The transaction prices of PB fines in Tangshan stood at 798 yuan/mt, up 3-8 yuan/mt from Aug 1. The transaction prices of PB fines and SS fines in Tangshan were 800 yuan/mt and 679 ...
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The Anglo-Australian miner said on Friday that it would ship between 320m and 325m tonnes of iron ore in 2021, down from an earlier estimate of between 325m and 340m tonnes. The company also...
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The iron ore price is getting extra support after Vale SA (NYSE: VALE) cut its production guidance for 2021 and 2022. The news could give the Fortescue Metals Group Limited (ASX: FMG) share price, Rio Tinto Limited (ASX: RIO) share price, and the BHP Group Ltd (ASX: BHP) share price an extra boost.
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During the second quarter, ended June 30, 2021, VALE's total revenue increased 121.8% year-over-year to $16.68 billion. Its operating income grew 366.1% from its year-ago value to $9.71 billion. The company's net profit surged 662.4% from the prior-year quarter to $7.59 billion, while its EPS increased 684.2% year-over-year to $1.49.
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This comes after the price of the ferrous metal surged to a fresh record high on Monday. "Iron ore futures on the Dalian Commodity Exchange, for September delivery, closed 4.3% higher at 1,145 yuan. The contract jumped 6.3% earlier. Chinese steel futures also closed at all-time highs," per Mining. Market implications
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Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since ore prices hit a decade-low of $55 per tonne on average in 2015, Fitch Solutions said in its report. TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
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Iron Ore Production Slashed BHP Billiton, the world's largest mining company, said on Tuesdayit would slash its iron ore production cost further and cut spending to better withstand a downturn in...
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Nov 29, 2021SAO PAULO/NEW YORK, Nov 29 (Reuters) - Brazilian miner Vale SA (VALE3.SA) on Monday lowered the ceiling for its 2021 iron ore production outlook to 320 million tonnes from a previous estimate of 335 million tonnes, while leaving the lower end of the forecast range at 315 million tonnes.
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The price of spot iron ore fell 2.7 per cent to a six-week low of $US157.01 a tonne on Monday, according to Fastmarkets , with investors cautious over the outlook. Last week, policymakers in...
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