Latest news with #IronOre
Bloomberg
4 days ago
- Business
- Bloomberg
Iron Ore Hits Two-Month High as China Policy Hopes Buoy Demand
Iron ore climbed to a two-month high, with traders encouraged by China's pledge to reduce excess competition and outdated capacity, despite the steel market's weakening demand outlook. The bulk commodity rose as much as 1.3% on Thursday before paring gains. Prices have moved above $100 a ton this week for the first time since May, bolstered by Beijing's signals that it's determined to eradicate industrial overcapacity in a bid to improve mills' margins. Expectations for fresh property-sector stimulus measures have improved the consumption outlook.
Bloomberg
4 days ago
- Business
- Bloomberg
Iron Ore Tops $100 for First Time Since May on China Sentiment
Iron ore rose above $100 a ton on improving sentiment over Chinese economic growth, and as Rio Tinto Group brought forward its timeline for the first shipment from a massive mine in Guinea. Futures were up more than 1%, heading into triple figures for the first time since May. The steel-making ingredient has recovered over the past few weeks as Chinese officials pledged to tackle excessive competition and outdated capacity, as well as deliver additional property-led policy measures.
Business Wire
5 days ago
- Business
- Business Wire
Rio Tinto releases second quarter 2025 production results
MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto Chief Executive Jakob Stausholm said: 'We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi as it ramps up to become the world's fourth largest copper mine before the end of the decade. 'We continue to make strong progress in our production and growth projects, achieving our highest Pilbara Q2 production since 2018 and accelerating the first shipment from the Simandou high-grade iron ore project in Guinea. 'We will continue to drive progress towards our long-term strategy to deliver profitable growth and build a stronger, more diversified business.' Executive Summary We're pleased to have announced Simon Trott as Chief Executive with effect from 25 August 2025. Copper equivalent (CuEq) production rose 13% in Q2 YoY, and 6% YoY for the half year, driven by strong performance in our copper business and the contribution of the Arcadium acquisition. Copper production is now expected at the higher end, and copper unit costs around the lower end, of full year guidance ranges. Pilbara iron ore achieved its highest Q2 production since 2018, recovering well from Q1 extreme weather impacts. Bauxite achieved a second consecutive quarterly production record and is now expected at the higher end of the full year production guidance range. Lithium integration progressing to plan, in line with our strategy to establish a world-class lithium business. Simandou first shipment accelerated to around November 2025, with 0.5 to 1.0 Mt of shipments expected in 2025 (SimFer scope from Blocks 3 & 4). Continued progress with our Iron Ore replacement strategy: Western Range opened on time and on budget, while Hope Downs 2 received all Government approvals in Q2. The full second quarter production results are available here This announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary. LEI: 213800YOEO5OQ72G2R82 Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
Bloomberg
5 days ago
- Business
- Bloomberg
Iron Ore Falls as China Data Shows Steel, Property Sector Woes
Iron ore dropped after data showed China 's crude steel output has plummeted as the nation's property sector struggles under a prolonged downturn. Futures of the steel-making ingredient fell as much as 1.5% after traders weighed a slew of key economic prints from the biggest metals-consuming nation on Tuesday. The data showed China's growth exceeded expectations but other figures painted a picture of weak demand, while uncertainty lingers on whether the resilience of its export market can be maintained.
Bloomberg
7 days ago
- Business
- Bloomberg
Iron Ore Holds Big Weekly Gain Ahead of Key China Economic Data
Iron ore held its biggest weekly gain since January, with traders looking ahead to the release of data in China that may show the economy of the world's biggest metals consuming nation expanded more than 5% in the second quarter. Futures of the steel-making staple rose as high as $99.90 a ton early Monday, after surging 3.6% last week. China's economy potentially expanded just above the government's full-year growth target, government figures are expected to show Tuesday. While that would be a positive demand signal, it also could mean policymakers would be less likely to offer up more stimulus in an upcoming meeting of senior leaders.
