It is reported that the Ministry of Trade, Industry and Energy (MOTIE) said that South Korea’s Posco and China’s Chongqing iron and steel (CISC) have signed memorandum of understanding on a US$3.3 billion investment.

The spot price of iron ore fines 62% to China has dropped.

The spot price of iron ore fines 62% to China continued to rise. Current price is being offering at US$95.16/ton, increasing by US$0.36/ton or 0.38% from the previous price.

China’s steelmakers have suffered severe losses. Along with banks string loaning services, in the first 5 months of 2014, the major steel mills’ profit were detracted from the downturn compare to last year.

The LME's three-month copper contract on Friday was down 0.1 per cent at $US6,945 a metric ton at the PM kerb close. The metal earlier rose to $US6,983.75 a metric ton, its highest price since March 7.

Saramad Group supply IRAN Chromite Ore

[Ferro-Alloys.com] The spot price of iron ore fines 62% to China has increased slightly. Current price is being offering at US$94.03/ton on 4th June, increasing by US$1.63/ton or 1.76% from the previous price.

People acknowledge China's commodities demand - fueled by a boom in the last decade - is easing. This slowdown is hitting iron ore markets. Platts estimates consumption of steel grew 2.6 percent in the first two months of this year, compared with 9.8 perce...