BHP Group’s iron ore discounts following Chinese pressure are “optical, temporary and economically bounded” and don’t reflect a decline in the mining giant’s pricing power, according to RBC Capital Markets.
BHP Group’s iron ore discounts following Chinese pressure are “optical, temporary and economically bounded” and don’t reflect a decline in the mining giant’s pricing power, according to RBC Capital Markets.
Iron ore sank for a fifth day on concerns about oversupply, as Beijing confirmed a substantial drop in steel output, the inaugural cargo from a major new mine in Africa arrived in China, and port stockpiles expanded.
Iron ore sank for a fifth day on concerns about oversupply, as Beijing confirmed a substantial drop in steel output, the inaugural cargo from a major new mine in Africa arrived in China, and port stockpiles expanded.
Heavy rainfall in northeast Australia has triggered floods that are hampering mine operations and disrupting supplies of metallurgical coal in the region.
Heavy rainfall in northeast Australia has triggered floods that are hampering mine operations and disrupting supplies of metallurgical coal in the region.
A stacker-reclaimer at the Newcastle Coal Terminal in Newcastle, Australia, on Tuesday, April 22, 2025. The coal region of the Hunter is now grappling with the energy transition. Photographer: Brendon Thorne/Bloomberg
China’s state-owned iron ore trader is checking on Jimblebar stockpiles held by some steel mills at Chinese ports, a sign that restrictions on the ore mined by BHP Group could be partially lifted.
China’s state-owned iron ore trader is checking on Jimblebar stockpiles held by some steel mills at Chinese ports, a sign that restrictions on the ore mined by BHP Group could be partially lifted.
Stockpiles of metal ore in Ningbo, China. Bloomberg
Iron ore’s robust start to the year continues to highlight what many observers deem to be a persistent mismatch between market pricing and conditions on the ground.
Iron ore’s robust start to the year continues to highlight what many observers deem to be a persistent mismatch between market pricing and conditions on the ground.
China’s steel exports surged to an all-time high in December, rounding off a record year in which overseas shipments defied mounting trade pressures and expectations of a slowdown.
China’s steel exports surged to an all-time high in December, rounding off a record year in which overseas shipments defied mounting trade pressures and expectations of a slowdown.
A bulk carrier laden with BHP Group’s Jimblebar iron ore has discharged in China after weeks idling offshore, in a rare case of a trader pressing ahead with restricted cargoes despite an ongoing pricing dispute.
A bulk carrier laden with BHP Group’s Jimblebar iron ore has discharged in China after weeks idling offshore, in a rare case of a trader pressing ahead with restricted cargoes despite an ongoing pricing dispute.
A bulk carrier with restricted BHP iron ore recently discharged and left China
BlueScope Steel Ltd. shares slipped after it turned down the latest takeover approach from the US’s Steel Dynamics Inc., arguing an $8.8 billion joint offer with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
BlueScope Steel Ltd. shares slipped after it turned down the latest takeover approach from the US’s Steel Dynamics Inc., arguing an $8.8 billion joint offer with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
Slit steel coil rolls at BlueScope Steel Ltd. Port Kembla steelworks in Port Kembla, Australia, on Friday, Feb. 9, 2024. The world's two biggest miners, BHP Group Ltd. and Rio Tinto Group, are teaming up in a bid to develop Australia's first electric-smelting furnace, in what could prove an important step toward slashing emissions in the steel-making process.
BlueScope Steel Ltd. rejected the latest takeover approach from US steelmaker Steel Dynamics Inc., arguing a $8.8 billion joint offer made with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
BlueScope Steel Ltd. rejected the latest takeover approach from US steelmaker Steel Dynamics Inc., arguing a $8.8 billion joint offer made with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
Slit steel coil rolls at BlueScope Steel Ltd. Port Kembla steelworks in Port Kembla, Australia, on Friday, Feb. 9, 2024. The world's two biggest miners, BHP Group Ltd. and Rio Tinto Group, are teaming up in a bid to develop Australia's first electric-smelting furnace, in what could prove an important step toward slashing emissions in the steel-making process.
Chinese steel mills face an extended period of depressed margins as efforts to cut capacity in the sector go slower-than-expected, while exports remain high, according to Goldman Sachs Group Inc.
Chinese steel mills face an extended period of depressed margins as efforts to cut capacity in the sector go slower-than-expected, while exports remain high, according to Goldman Sachs Group Inc.
Rio Tinto Group and Fortescue Ltd, two of the world’s largest iron ore producers, have switched the index they use to price shipments for the world’s largest commodities consumer, a rare change that follows public criticism of the current mechanism from state-backed buyer China Mineral Resources Group.
Rio Tinto Group and Fortescue Ltd, two of the world’s largest iron ore producers, have switched the index they use to price shipments for the world’s largest commodities consumer, a rare change that follows public criticism of the current mechanism from state-backed buyer China Mineral Resources Group.
Iron and bauxite iore at the Yantai port in eastern China.
Iron ore futures were set for their highest close since late November, riding a broader year-end rally in metals as traders look ahead to potential policy support from Beijing.
Iron ore futures were set for their highest close since late November, riding a broader year-end rally in metals as traders look ahead to potential policy support from Beijing.
China’s top steel industry group has urged the state-backed iron ore trader, China Mineral Resources Group Co., to push for using domestic price benchmarks in supply talks with major miners including BHP Group and Rio Tinto Group.
China’s top steel industry group has urged the state-backed iron ore trader, China Mineral Resources Group Co., to push for using domestic price benchmarks in supply talks with major miners including BHP Group and Rio Tinto Group.
Train carriages wait to unload iron ore at Rio Tinto Group's port facility in Karratha, Western Australia.
Chinese coking coal futures headed for their biggest weekly gain since August, in a sentiment-driven rally that also helped lift iron ore and steel prices.
Chinese coking coal futures headed for their biggest weekly gain since August, in a sentiment-driven rally that also helped lift iron ore and steel prices.
Stockpiles of coal at the Guoyuan Port Container Terminal in Chongqing, China. Photographer: Na Bian/Bloomberg
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
A haul truck loaded with ore at an open pit gold mine in Kalgoorlie-Boulder, Western Australia, Australia.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
A haul truck loaded with ore at an open pit gold mine in Kalgoorlie-Boulder, Western Australia, Australia.
The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.
The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.
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