Sangan iron ore is located in bordering areas between Afghanistan and Iran. Iran has extracted the mineral resource from its part, according to Afghan Ministry of Mines, and now it is trying to afford its need of raw materials …
As the weekly chart of November iron ore futures highlights, the price plunged from almost $160 per ton in early 2013 to lows of $38.03 in December 2015. Since then, iron ore has recovered and on November 3 was trading at $63.67 just a hair below the technical resistance level at $64.
The import price of 62% Fe content ore at the port of Tianjin jumped 4.5% to $74.20 per dry metric tonne on Thursday as Donald Trump's victory in the US presidential elections add fuel to the fire of iron ore's almost a month of unbroken gains.
Friday's price is the highest level for the Chinese benchmark since November 2014 with gains since the eve of the election now topping 17.5%. Year to date the price of the steelmaking raw material is up 86% following near-decade lows in December last year. Iron ore reached an all-time high of $191.90 a tonne in February 2011.
24.05.2015· Iron ore majors, Rio Tinto, BHP Billiton and Vale, are all planning to bring more low cost iron ore to the market. The continued profitability of low cost expansion for BHP Billiton, Rio Tinto and Vale in the new iron ore price environment is not a good sign for Fortescue’s and other marginal producers’ long-run viability.
The import price of 62% Fe content ore at the port of Tianjin surged 7.4% to $79.70 per dry metric tonne on Thursday as Donald Trump's victory in the US presidential elections add fuel to the fire of iron ore's almost a month of unbroken gains.
24.05.2015· But the problem for the company is that the iron ore price has been falling faster than the cuts in operating costs. For seven of the first eight days of April the price of iron ore fell below Fortescue’s operating costs and the Australian budget assumes iron ore will trade at Fortescue’s US$48 per ton operating costs over 2015–16.