Page 11 - Iron Ore

States likely to auction 20 iron ore blocks in FY'17

Karnataka will offer 14 iron ore blocks

Iron ore at risk of losing all of 2016's gains

Iron ore is at risk of losing all of this year's gains. Ore with 62 per cent content has sunk to $48.40 a tonne after posting the biggest monthly loss in about five years in May, according to Metal Bulletin Ltd. The drop has left prices that topped $70 in April less than $5 above 2015's close.The raw material has been whipsawed this year as signs of a demand revival in China spurred a speculative rally that lifted prices in the three months to April. The climb was reversed after a regulatory crackdown and as supply increased, raising volumes at ports. With output expanding, there's a possibility that 2016 will prove to be another losing year, according to Shenhua Futures Co."It seemed clear at the start of 2016 that iron ore was set to face another challenging year but the outlook has since been muddied by the surprise rally," said Wu Zhili, a Shenhua analyst. "Demand remains weak and supply is still increasing. There's a good chance prices will end the year lower."Should that forecast

India's iron ore prices unlikely to recover in near term: ICRA

India's iron ore prices are unlikely to recover in the near future, given the high inventory levels and rising production, credit rating agency ICRA said on Thursday. "Given the substantial inventory levels at mine-heads and the fact India's ore production is slated to increase further this year, domestic iron ore prices are unlikely to recover meaningfully in the near term, thereby benefiting steel mills," ICRA Corporate Sector Ratings Senior VP Jayanta Roy said.

Lease expiry to create 66 mn tonne iron ore deficit in Odisha after 2020

Steel mills, other industries operating without captive ore sources to be hit hard as there is no roadmap for auctioning of the leases

Iron ore exports needs tax relief to compete globally

Fimi says it will also be challenging to restart the mines that were shut for four years and flooded by recent rains

Fall in iron ore prices is a pointer to commodities market fragility

No doubt 'structural and cyclical economic developments' in the past couple of years have painted the industry into a corner

Export duty on high-grade iron ore to remain unchanged

2016-17 Budget had removed export duty for iron ore lumps and fines with iron content of less than 30%

Iron ore in free fall as port holdings expand

Ore with 62 per cent content delivered to Qingdao tumbled 5.7 per cent to $54.99 a dry tonne, according to Metal Bulletin

Iron ore stockpile up on low demand

The total stock is a little less than India's current annual production

Iron ore stockpile up on low demand

Higher at end of FY16 at 140 mt than a year before, due to low offtake from user industries; mining sector asks for govt help on freight and duties to enable export

Iron ore exports dipped due to global slowdown: Govt

Minister of Steel and Mines Narendra Singh Tomar said that there should be a balance on exports and demands of domestic industry

Niti Aayog favours exporting value-added iron ore products

Official says developing strong value-added products industry will strengthen manufacturing sector

Iron ore output may touch 180 mt in FY17

Imports tank 63 per cent in FY16 to 5.6 mt due to higher domestic availability.

Iron ore imports tank 63% in FY16 to 5.6 mt

The surge in export was on the back of waiver in export duty and pruning of rail freight.

Odisha miners get notices for producing iron ore below environment clearance limits

With below par production impacting royalty collection, the respective deputy directors of mines have issued showcause notices to the miners in Joda and Koira

Local iron ore mines prices may go up

The booking price of e-auctioned ore is on the rise with improvement in demand from steel companies

Duty waiver fails to cheer iron ore exporters

Mining industry body says exemption would incentivise exporters from Goa