Industry News

Iron-ore languishes on supply pressures, weakening demand

Views : 327
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 >>
Rising oil prices pressure Vietnam’s inflation control targets Rising oil prices pressure Vietnam’s inflation control targets
Mar .24.2026
Rising oil prices pressure Vietnam’s inflation control targets
South Africa raises AD duties on structural steel from China & Thailand South Africa raises AD duties on structural steel from China & Thailand
Mar .24.2026
South Africa raises AD duties on structural steel from China & Thailand
Rise and fall in LME aluminium: cash climbs to $3,329/t, stocks slip nearly 1% Rise and fall in LME aluminium: cash climbs to $3,329/t, stocks slip nearly 1%
Mar .24.2026
Rise and fall in LME aluminium: cash climbs to $3,329/t, stocks slip nearly 1%
Macro geopolitical risks have yet to subside, and aluminium prices have maintained a fluctuating pattern Macro geopolitical risks have yet to subside, and aluminium prices have maintained a fluctuating pattern
Mar .24.2026
Macro geopolitical risks have yet to subside, and aluminium prices have maintained a fluctuating pattern