I'm a junior iron ore trader, in one of the most active iron trading hse. The miners There's a fascinating power play going on in the steelmaking world right now. Fortescue is making hay as the iron ore price shines, upgrading shipping guidance for the financial year as the cash rolls in. Iron Ore: The King of the Dry Bulk Shipping The iron ore is the dry bulk cargo with the largest trading volume per year, above coal and grains. Once at the shipping point the ore was first loaded on sailing schooners, later, steam powered vessels, and still later ore boats designed to haul bulk ore cargoes exclusively. Visit TradeWinds for the best news, insight and opinion covering the global shipping business. Domestic shipping companies have a reason to cheer as iron ore exports to China witness a surge. Iron ore trade growth trend fades in Dry Bulk Market , International Shipping News 26/03/2020 A spectacular upwards trend in global iron ore trade unfolded for almost two decades.
Author: Pascale Massot, University of British Columbia The impact of Chinese demand on global iron ore prices is well known.
A less acknowledged consequence of China’s emergence is the transformation of incentive structures in the global shipping market. Iron ore is found in nature in form of rocks, usually mixed with other elements and after it is processed by various industrial processes, it is sold to steel companies. ... Rio Tinto iron ore cargoes slide 16% despite ‘strong demand’ from China The top three mines, Vale, Rio, BHP's cost per ton are lower than 30 dollars. Although some 45 countries export natural iron ore resources, seven countries provide 75% of the total exported.
As a result, FIS has been named number one iron ore broker for seven years running by SGXAsiaClear, making us the natural leader and well positioned to capitalise on future growth. The DM&IR was formed by the 1937 merger of the Duluth, Missabe and Northern Railway (DM&N) and the Spirit Lake Transfer Railway; the Duluth and Iron Range Rail Road … Virus scare drops freight rates for vessels used in 1.5 billion tonne iron ore trade down to 1 point, from 5,043 points in September. The iron ore market in China, the largest buyer, evaluates seaborne iron ore prices on a delivered basis across grades and with domestic supplies. Safe carriage of Iron ore & other iron concentrates in bulk Iron ore is used for the production of metallic iron in steel-making.
What iron ore tells us about container shipping There's a fascinating power play going on in the steelmaking world right now.
With the overall trade scenario in terms of volumes and freight rates, having improved on the India-China route, shipping firms are increasingly deploying large sized-vessels there.
Spot iron ore prices delivered into China are a global benchmark, and higher shipping costs may lead to changes in netback prices and costs absorbed by counterparties.