China to crack down on speculation in iron ore prices

Steel consumption is still slow in the short term as recent power rationing has hurt manufacturing activities in the world's second-largest economy.

Mining companies have the widest range of BNEF transition scores.

Iron ore production rose by 15% on increased output from Brazil's Minas-Rio and South Africa's Kumba mine.

The company has said it will double its growth capex to about $3 billion a year from 2023.

The Brazilian mining giant churned out 89.4 million tonnes in the third quarter compared with the 87.3 million tonne average analyst estimate.

A chamber of the court ruled on Tuesday that the charges filed by state prosecutors in Minas Gerais should be filed through a federal court and not a state one.

Iron ore shipments that departed from Australia and Brazil stood at 23.54 million tonnes in the week ended Oct. 17, down 589,000 tonnes from the previous week.

The miner has 2021 production guidance of 315 million to 335 million tonnes, with BI analysts assuming it reaches the low end of that range.

First quarter drop due to maintenance work at Jimblebar mine and labour shortages caused by covid-related curbs, the miner says.