Industry News

Iron-ore languishes on supply pressures, weakening demand

Views : 120
Update time : 2022-10-20 16:56:04

BHP, the world's biggest listed miner, kept its full-year iron ore production guidance unchanged, while warning that global economic uncertainty was expected to continue affecting supply chains, energy costs, labour markets and equipment and materials availability.

On Tuesday, Brazil's Vale reported a 1.1% increase in quarterly iron-ore production, while Rio Tinto posted a 4% rise in shipments in the last quarter compared with the previous three months.

Benchmark November iron-ore on the Singapore Exchange was down 0.7% at $92 a tonne, as of 07:02 GMT. It hit a 2022 low of $90.30 on Tuesday.

The most-traded January iron ore on China's Dalian Commodity Exchange ended a range-bound daytime trade 0.4% higher at 688 yuan ($95.24) a tonne, after touching a six-week low of 678 yuan in the previous session.

Related News
Read More >>
Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range
Mar .06.2025
Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Mar .06.2025
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns
Mar .06.2025
Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag
Mar .06.2025
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag