1. Most Discussed
  2. Gainers & Losers
SDL 0.5¢

Iron ore loses 2%

  1. Samson2158

    331 Posts.

    From MiningNews.net:

    Iron ore loses 2%

    Tuesday, 10 February 2015

    Kristie Batten

    THE iron ore spot price hit a new low as China’s January trade data highlighted a slowdown in imports.

    Tuesday, 10 February 2015

    Kristie Batten

    THE iron ore spot price hit a new low as China’s January trade data highlighted a slowdown in imports.

    MB Iron Ore
    62% Fines CFR
    61.20 -1.29 -2.06 62.49

    58% Fines CFR
    51.35 0.20 0.39 51.15

    52.86 1.17 2.26 51.69

    0.7803 0.0007 0.0898 0.7796

    Iron ore imports in January fell by 9.5% on monthly and annual terms to 78.6 million tonnes.

    ANZ Research said cold temperatures had hampered construction activity while property sector weakness had lowered demand.

    “A smaller decline in iron ore port stocks in January to 93.8 million tonnes implies iron ore buying by Chinese steel mills is drying up, and this is confirmed by daily steel production in mid-January falling to the lowest levels since November 2014,” ANZ said.

    The Metal Bulletin Iron Ore 62% Qingdao index hit an all-time low of $US61.20 per tonne, a 2% or $1.29 drop.

    After hitting an all-time low on Friday, the MBIO 58% Qingdao index gained 0.4% or 20c to $51.35/t.

    The Australian dollar was back over 78c, sitting at 78.03c



Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.