Brazil’s Minas Gerais State Creates Mining Tax, Valor Says

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.

A total of 62 vessels with 8.55 million mt of iron ore are expected to arrive at major Chinese ports during March 2-8, SMM learned.

A total of 77 vessels with 11.79 million mt of iron ore are expected to arrive at China’s main ports during February 2-8. This is up from 10.56 million mt seen during January 26-February 1.

Estimated shipment from Brazil and Australia both drops during late November.

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

Japan has materialized massive exploration of seabed minerals, which was not been achieved by other countries.

Norway aluminum producer Norsk Hydro warns risk of short supply of Brazil bauxite.