• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    iron investing

    Iron Ore Price Nudges $75

    Investing News Network
    Nov. 23, 2016 03:05PM PST
    Base Metals Investing
    Iron Investing

    Volatility in the iron ore price continued on Tuesday as traders digested the latest news out of China.

    Volatility in the iron ore price continued on Tuesday as traders digested the latest news out of China.
    On the Dalian Commodities Exchange iron ore futures climbed 6%, while the import spot price forĀ 62% Fe content ore at the port of Tianjin closed up 6.5% to US$74.90 a tonne, reversing declines seen in the last two trading sessions.
    A frenzied month of trading and the election of Donald Trump pushed the spot priceĀ to a two-year high on November 10, and it continued to climb to $80 a day later. That was followed by a 9% drop on the 15th, with the price settling a week ago at $72.20.
    Chinese authorities recently upped trading fees and margin requirements to cool down the credit-fuelled speculation in iron ore, met coal and rebar. The steelmaking ingredient is up 72.1% year to date.


    The fresh gains are down to strength in Chinese steel prices following further production cuts in the Northern China city of Tangshan, a major producer of Chinese steel, according to analysts at Metal Bulletin.
    ā€œThe city has imposed restrictions on the production of coke, iron and steel in a bid to improve air quality in the region,ā€ the group said, adding the restrictions will be in place for the next four months.Ā ā€œNews of steel and coke production restrictions in Tangshan gave ferrous futures an upward push, sending the rebar contract to its daily limit of 2,900 yuan ($421) per tonne,ā€ said Metal Bulletin.
    The move up could also be a result of a bullish commodity report by influential bank Goldman Sachs.
    The bank today raised its 3-month iron ore price forecast to $65, and 6 and 12-month predictions to $63 and $55, respectively, per tonne.
    ā€œSteel consumption is more resilient than expected and demand for iron ore is likely to be supported further by incremental restocking across the steel supply chain,ā€ said Goldman. ā€œFurther, the pace of supply growth has slowed as a result of delayed capital expenditure and operational challenges.ā€
    Ā 
    The post Iron ore price nudges $75 appeared first on MINING.com.

    Ā 
    iron investingchinadonald trumptrumpiron ore futures
    The Conversation (2)
    NORMAN JAY GOLDMAN
    NORMAN JAY GOLDMAN
    24 Nov, 2016
    WHAT WOULD THE SALE OF TVA HAVE ON POWER SOURCES?
    0 Replies Hide replies
    Show More Replies
    NORMAN JAY GOLDMAN
    NORMAN JAY GOLDMAN
    24 Nov, 2016
    WHAT WOULD THE SALE OF TVA HAVE ON POWER SOURCES?
    0 Replies Hide replies
    Show More Replies

    Go Deeper

    AI Powered
    Geologist holding iron ore at Australian mine site.

    Iron Ore Price Forecast: Top Trends for Iron Ore in 2025

    Iron Investing

    Iron Ore Prices Rebound on Optimistic Demand Outlook

    Latest News

    Security Class Suspension from Quotation

    Quarterly Activities/Appendix 5B Cash Flow Report

    Quarterly Activities/Appendix 5B Cash Flow Report

    June 2025 Quarterly Activities and Cashflow Reports

    Quarterly Activities and Cashflow Report

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    Ɨ