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.

Iron ore hit the highest price since February, buoyed by the outlook for macro-economic support in China and pre-holiday restocking.

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.

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.

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.

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.

Iron ore futures ticked up for a second day, even as data signaled weakness in China’s steel demand.

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.

China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.

China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.

China’s state-backed iron ore buyer is proposing measures to curb hoarding of the steelmaking ingredient at ports, in a move that could dent the pricing power of foreign miners and traders.

Iron ore risks becoming detached from physical market reality, as financial speculation drives strong prices more so than underlying supply and demand, according to state-backed trader China Mineral Resources Group Co.

Iron ore fell to the lowest in a month, extending declines ahead of a key meeting of Chinese officials this week that will provide details on policy priorities for next year.

China’s stubborn steel overcapacity won’t be easy to fix because the industry is so deeply intertwined with the country’s broader economy, according to the head of the World Steel Association.

Iron ore prices slipped for the first time this week as the steel market showed signs of seasonal weakness and traders looked ahead to China’s upcoming economic policy meeting.

The first commercial shipment of iron ore from a massive new mine in Guinea is on its way to China, marking the start of a major shift in global supply of the steelmaking material.

The China Iron and Steel Association urged local ore producers to speed up key projects, as the world’s biggest consumer grapples with its dependence on imported supplies from top miners such as BHP Group.