A decline in iron ore shipments to China is also playing a role sources said. "At the moment China is using [iron ore] stockpiles [at ports] to put the pressure on " one source said. Brazilian iron ore miner Vale is trying to negotiate further increases on its 2008 annual contracts a
Top Indian Iron Ore Miner Targets 50% Output Jump Next Year
(Bloomberg) Indias biggest iron ore miner plans to raise production by as much as 50% potentially boosting supplies and alleviating concerns of shortages of the key raw material. Bloomberg. Missing BloombergQuint's WhatsApp service? Join our Telegram channel or activate Website Notifications.
Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings cars white goods etc.). Global economic growth is the primary factor that drives its supply and demand. When economies are growing the need for steel in construction increases which drives the price up.
iron ore Iron ore glory days seen numbered as China
Iron ore faces a long slow slide over the coming halfdecade. Prices are poised to decline over the long term as the impact of weakening demand in biggest buyer China will more than offset gains in consumption seen in other emerging markets including India according to Citigroup Inc.
Iron Ore Supply Disruption Looms For Indias Steelmakers
The Odisha governments decision to plug a loophole and call fresh bids for mines and Indias requirement of fresh environment clearance before starting production aggravated fears of iron ore supply disruption for steelmakers.