Iron Ore Faces Supply Problem in Brazil, Rising Demand in China
RIO DE JANEIRO, BRAZIL - Brazil again plays a key role in setting the direction of global iron ore prices, since the country, the second-largest global producer, accounts for a significant share of supply. But as soon as the supply shock subsides, the market's fate will hinge on China's still fragile economic rebound.
The main steel ingredient has been traded at over US$100 (R$520) a ton since late May, driven by the ban on Vale's mining complex in Itabira, which accounts for ten percent of the company's production.
- SMC Power acquires Concast’s steel units in largest liquidation deal
- INTERNATIONAL METAL TECHNOLOGY INDONESIA (IMT) postponed to 18 – 20 March 2021
- China’s steel output hits new record high in May
- Ford restarts all its operations south of the border, FCA adds shifts
- OPINION: Brazil’s ‘dirty list’ is key to stopping slave labor. But it is being undermined
- USA - Waupaca Foundry plant in Tioga County PA to permanently close
- WHB Automotive acquires SinterCast System 4000 process control technology
- FOSECO’S LATEST COATING INNOVATION: SEMCO FD – THE NEW FAST DRY WATERBASED COATING
- See all News