Australia Treasurer Says Rio Has not Hit China Trade

According to Hebei Daily, recently, Shanghai University and Changli County Dongwen Precise Machine Parts Co., Ltd. jointly completed the first development test of hydrogen-enriched smelting technology of blast furnace with pure hydrogen as blowing gas source in China.

Currently, the iron ore prices have been rising rapidly in contrary to the background that the supply and demand in the iron ore market has been stable and the port inventory has also been at a high level.

On February 18, the National Development and Reform Commission and other 11 central departments jointly issued a notice on a series of policies to promote stable growth of industrial economy.

The profits at steel mills increased, boosting the demand for iron ore. Besides, real estate credit policy may marginally loosen, boosting market sentiment and pushing up steel prices. Iron ore futures have risen for several days.  China's central bank, the People's Bank of China, will cut the reserve requirement ratio by 0.5 percentage point. Government also released the signal of “stabilising the real estate industry”. Iron ore prices surged 8.66% yesterday supported by multiple factors.

On December 3, the National Coal Trade Conference announced the draft of the long-term contract signing of coal trade for 2022 for comments.

During the third quarter of this year, estimated iron ore shipment of Rio Tinto is expected to be higher than anticipation.

Shougang Hierro Peru will put the $1.5 billion worth of iron mine brownfield project into production in H2 2018, which is located in Marcona.

Rio Tinto’s net profit surged over 9-fold in H1 2017 thanks to higher selling price of iron ore and other commodities.

Rio Tinto sold 70,000 tonnes of PB lump to Chinese buyers on September 6 at premium of $0.3401 per tonne.

Freeport-McMoRan Inc. closed 5.73% higher August 16, leading gains of other companies. Alco rose 4.61% to $39.23, the biggest daily gains from late April.