Iron ore spot prices have shown mixed results this week. Some analysts arguing that prices would stay positive after gains earlier in this week.
Australia is one of the world’s largest iron ore producers. The metal is the foundation of the country’s biggest export industry.
Over 90% of extractions occur in Pilbara, Western Australia and are sent to China — the biggest purchaser of iron ore.
Our editors cover this sector frequently, highlighting the major Australian players, BHP Billiton Limited [ASX:BHP], Rio Tinto Limited [ASX:RIO] and Fortescue Metals Group Limited [ASX:FMG], as well as the smaller contributors. There are also many mid-tier, smaller companies contributing to the booming industry.
Iron Ore is Economically Significant
It’s an economically significant area — the trade accounts for a sizeable proportion of Australian employment — which we regularly review, from performance updates to the latest news.
The extraction process of iron ore consists of blasting hematite and magnetite rocks, removing resulting material from large open-pit mines, then crushing, screening and blending for local consumption or export. Once blended, 98% of mined material is smelted and alloyed with other metals (including nickel, chromium, manganese, vanadium, molybdenum or titanium) for use in varying types of steel production.
Iron ore is a relatively low-cost material and is used 20-times more than any other structural building material.
It’s the most desirable building product, because of its strength, durability and incredible versatility.
It’s an indispensable tool to civilization and has been used for the last 3,000 years.
If you’re interested in learning more about the industry and reading the latest analysis on iron ore, you’ve come to the right place. Read on below.
On Friday iron ore prices continued to rise, most likely due to renewed strength in Chinese steel futures.Moderate gains were reported in both lower and higher grades, with the level benchmark reaching the highest level…
The iron ore price saw strong gains earlier this, week which added to yesterday’s rise. Increases were recorded across both lower and higher grades.
BHP Billiton is considered a blue chip company and tends to move with the market. At the time of writing, shares of BHP Billiton Ltd [ASX:BHP] are up by 1.10%, to $35.08 per share.
While much attention has been paid to iron ore’s volatility in the past few months, few mainstream media outlets have paid attention to forecasts for the next year. Forecasting is tricky, but there are a…
Iron ore prices are stagnant, with little movement in spot markets. Despite this Rio Tinto Ltd [ASX:RIO] has given joint partners the go ahead to invest $2.1 billion across two iron ore projects. Iron ore…
At the time of writing, shares of Rio Tinto Ltd [ASX:RIO] are down by 0.71%, to $78.20 per share.
China’s long weekend looks likely to impact more than just iron ore prices. Australian shares appear set to move lower, with mining stocks likely taking the brunt of these falls. Already, iron ore prices have…
Base metals have been harshly hit by Donald Trump’s recent tariff tiffs — creating fear of economic disturbance and for the future of international trade, subsequently hitting demand and market expectations for China.
On Tuesday iron ore prices closed at their highest level since the middle of March, which saw the benchmark iron ore spot price rocket.Metal Bulletin recorded the price for 62% fines increased by 2.5% to…
There’s little explanation why Fortescue Metals Group is down today, with the market – trading down by 1.37%, to $3.61 per share.The company hasn’t reported an announcement. That said, considering the recent slump in the…
If iron ore prices do break higher out of the consolidation pattern, investors are likely to turn their attention to iron ore producers in the short term.
Shares of Fortescue Metals are trading at $3.61. While this is a slight improvement from yesterday’s figures, as one of the largest global iron ore producers, and recognised as being the lowest cost seaborne provider…
At the time of writing, shares of BHP Billiton Ltd [ASX:BHP] are up by 1.06%, to $31.43 per share. BHP Billiton is considered a blue-chip company and tends to move with the market.
Iron ore prices remain erratic despite continual declines in Chinese steel futures, leaving the future of iron ore in the hands of local speculators as it continues its seemingly wayward and directionless movement. Investors holding contracts in China’s iron ore futures saw them fall to a three-year low, as well as this, trading has almost … Read More