The outcome of annual iron ore contract price negotiations between Australian suppliers and Chinese buyers must be decided by market forces, Australian Trade Minister Simon Crean said Saturday.
China wanted the status of a market economy, which Australia previously formally recognized during trade negotiations, so it must recognize that the market will determine prices, he said.
“No [...]
South Africa exported 30.336-million tons of iron ore in 2007, which represents an increase of 16 percent year- on-year.
According to Yieh Corp, which is affiliated with Taiwan’s biggest privately owned steel group the E-United Group, 2007’s figures were 4.175-million tons up on the 26.161-million tons exported by South Africa in 2006.
The bulk of the imports [...]
CHINA continues to chip away at the Australian iron ore duopoly, with two Chinese steel producers signing separate offtake contracts with the BHP Billiton offshoot and steel manufacturer, OneSteel.
Taking advantage of high steel prices and a reconfigured mill at Whyalla, OneSteel has signed 10-year hematite supply deals with Shanzi Haixin Iron & Steel Group for [...]
Steel producer OneSteel Ltd has proven its Project Magnet isn’t just a one-deal pony, signing a second long-term iron ore customer.
Chinese steel producer Shanxi Haixin Iron & Steel Group Co Ltd (Haixin) will take up more than six million tonnes of iron ore over the life of the 10-year contract.
“The signing of this long-term export [...]
Australian iron ore prospector Fortescue Metals Group Ltd. said on Thursday it had revamped a supply agreement with Chinese steelmaker Tangshan Iron and Steel Group that increases volumes.
Tangshan, which had already agreed to take up to 5 million tonnes of ore a year from Fortescue’s western Australian mines, has committed to purchase up to a [...]
Jinchuan Group Ltd, China`s biggest nickel producer, has renewed interest in a joint venture to reopen the Nonoc nickel mine in southern Philippines and has even improved its offer, the trade secretary said on Wednesday.
“They had sent another offer which is an improvement of where there were before the talks collapsed,” Peter Favila told Reuters [...]
A group of Chinese importers have agreed to temporarily boycott iron ore from India to protest a near 10-percent price hike from March 1, Chinese state media said Wednesday.
More than 100 domestic importers gathered in an urgent meeting on Tuesday and reached consensus to reject new offers with too high prices, the China Business News [...]
Baosteel Group, China’s largest steelmaker, and a rival, Wuhan Iron & Steel Group, are seeking to invest in iron ore projects in Australia to secure supplies to meet rising demand.
“We are looking closely at potential iron ore projects,” Zhang Yong, Baosteel’s Australian investment manager, said in an interview before a mining conference that started Tuesday [...]
Baoshan Iron and Steel (Baosteel), China’s largest steel maker, has contracted China Shipping Development to ship iron ore to feed its growing steel output, the shipping company says.
China Shipping Development will ship 6 million tonnes a year of iron ore along the coast of China for three years starting in April 2007.
It will ship ore [...]
He Changming, chairman of China’s top copper producer Jiangxi Copper Co. Ltd. , has retired, the latest management change in China’s metal companies.
He, 65, who has been chairman since the company listed in Hong Kong in 1997, will be replaced by former executive director Li Yihuang, the company said on its Web site www.jxcc.com.
“Due to [...]
