AUSTRALIAN iron ore producers, arguing for a freight premium to be included in this year’s contract prices with reluctant Chinese steelmakers, are expected to shrug off the emergence of a new iron ore exchange market created by Deutsche Bank and Credit Suisse.
The exchange gives smaller Chinese steel producers a chance to hedge their costs in [...]

Ironclad Mining advised that the Company continues to make good progress towards the development of the Wilcherry Hill Crystalline Magnetite Project to export iron ore to China and other East Asian customers. The Company reported more excellent results from resource extension and exploration drilling; South Australian Government moves to establish bulk commodities port for iron [...]

A recent surge in steel prices continued Wednesday with ArcelorMittal saying it will increase prices by $250 a ton on some steel shipments — a move that will benefit steel companies such as U.S. Steel Corp., analysts said.
Strong global demand has increased prices for hot-rolled coiled steel from $529 a ton in October to $845 [...]

Against a backdrop of rising iron ore prices, Brazilian steel producers should maintain high profit margins relative to their global peers during 2008, according to Fitch Ratings. Brazilian steel companies enjoy important competitive advantages, including modern production facilities, close proximity to sources of iron ore and a highly concentrated domestic market, which limits competition based [...]

Ukraine raised iron ore exports tentatively 16.5% year-on-year in January-February to 3.611 million tonnes, a source at Ukrrudprom, the association of Ukrainian mining enterprises, told Interfax.
Iron ore concentrate exports nearly doubled to 929,900 tonnes, pellet exports [...]

BHP Billiton Ltd, the world’s biggest mining company, said a fire burned for over an hour today at a screening area in the Nelson Point iron ore port in Western Australia.
It is assessing the damage from the fire, Samantha Evans, a BHP spokeswoman, said by telephone from Melbourne. There were no injuries and workers weren’t [...]

Junior explorer Strike Resources Ltd says it is in discussions for the possible sale of its iron ore interests in Peru, and in talks with steelmakers for potential supply.
Strike revealed the discussions after the Australian Securities Exchange queried a sharp rise in the company’s share price, when it jumped from $1.495 on February 25, to [...]

China’s key steel industry association July 18 accused the world’s three leading iron ore producers of cutting back on supply to ensure strong prices ahead of next year’s negotiations. Brazil’s Companhia Vale do Rio Doce, Australia’s BHP Billiton and Rio Tinto are “working together” to strengthen their negotiating positions in talks with Chinese steelmakers, the [...]

Mitsubishi Corp., Japan’s largest trading company, and Murchison Metals Ltd. agreed to jointly develop a A$3 billion ($2.5 billion) iron ore project in Australia amid soaring demand for the steelmaking ingredient.
The two companies want to build a port, railroad and develop the Jack Hills mine in Western Australia state, Tokyo- based Mitsubishi said in a [...]

Rio de Janeiro-based CVRD (NYSE: RIO) is in talks with international steelmakers to bring new steel projects to Brazil, CFO Fábio Barbosa told analysts and investors in a presentation Thursday.
Barbosa was speaking in São Paulo during an event promoted by finance industry trade group Apimec.
CVRD has a 10% minority stake in the under-construction CSA steel [...]