Industry News

Iron ore price is fizzling out on Chinese production curtailments

Views : 172
Update time : 2021-09-13 21:07:53

IRON ORE, one of the world’s hottest commodities, is fizzling out.

The key ingredient in steelmaking fell to below $130 (R1 845) a ton in the second week of September.

Global economics website tradingeconomics.com said iron ore was below the $230 a ton level recorded in May.

China wants to put the brakes on steel production to meet its targets of reducing greenhouse gas emissions.

“The Chinese city of Handan became the latest region to implement restrictions on steel output after the provinces of Anhui, Gansu, Fujian, Jiangsu, Jiangxi, Shandong, and Yunnan were told to limit their production to 2020 volumes amid China’s efforts to curb carbon emissions,” said tradingeconomics.com.

Related News
Read More >>
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Apr .29.2025
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Brazil's steel imports may break Mar record in Apr Brazil's steel imports may break Mar record in Apr
Apr .29.2025
Brazil's steel imports may break Mar record in Apr
Nickel prices surge as LME inventories decline & US-China trade tensions ease Nickel prices surge as LME inventories decline & US-China trade tensions ease
Apr .29.2025
Nickel prices surge as LME inventories decline & US-China trade tensions ease
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics
Apr .29.2025
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics