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Dalian iron ore futures edged up on Tuesday supported by persistent hopes of China easing its COVID 19 rules though traders tempered their optimism about the world s top steel producer reopening its economy as new cases sharply escalated

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China s Guangzhou a factory heavy city of nearly 20 million increased mass testing measures with over half of the city under restrictions Despite the situation Chinese property

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Column China in risky bet to test its power in iron ore markets

To put China s dependence on those two suppliers in perspective seaborne iron ore imports in July are estimated at million tonnes by commodity consultants Kpler Of this Australia

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China iron ore import value by country 2024 Statista

In 2024 Australia was China s largest supplier of iron ore by a significant margin accounting for around billion dollars worth of iron ore imports to China Brazil was

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GRAPHIC China steelmakers snap up high grade iron ore on Reuters

High grade 65% iron ore currently costs $ per tonne more than 58% iron ore and $ more than 62% ore according to data from SteelHome but is still attractive for mills as their profit

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Capesize and Panamax ships moved about 20 million tons more coal in the first 10 months of this year compared to the same period in 2024 while they transported 18 million tons less iron ore

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#1 Vale Brazil mining giant Vale has regained its crown as the world s top iron ore producer after losing it temporarily to Rio Tinto due to intense rain season in top mining state

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Vale is the world s largest producer and exporter of iron ore and the largest mining company in the Americas known as crown jewel and engine in the Amazon of Brazil Founded on June 1 1942 Vale now produces 80% of Brazil s iron ore Its iron ore resources are concentrated in the Four Corners and Barra the northern state of Brazil

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China s purchases of iron ore from Australia rose AU$2 billion or 20 per cent over the month while meat imports increased 28 per cent to A$57 million Follow your favourite topic and get notified

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Over 2024 China bought 81 per cent of all the iron ore Australia shipped overseas The export brings in about $136 billion to Australia s economy a year Last week it rose to $US222 $A290 a tonne its highest level in four weeks and it has become particularly hard to swallow for China

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Nelson Bay River sent five shipments of its 58 per cent iron ore direct shipping product to China before it was mothballed in mid 2024 Now with iron ore prices at $210 per tonne in Australian currency its all in costs of $72 per tonne at Burnie Port look attractive

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