Iron ore price hits three-month high on China demand

Beyond politics, the takeover must still pass a review by the Committee on Foreign Investment in the United States.

Industry sources said they did not expect much impact, noting that portside stocks are at high levels.

The world's largest iron ore consumer brought in 100.72 million metric tons month.

New data maintained pressure on policymakers to launch more stimulus as demand remained weak.

The world’s biggest independent commodities trader is expanding beyond oil, gas and power.

The company said it will cut production by one million tonnes per year, and added it may also take additional measures, including laying off staff.

The project is expected to add around 5% to the global seaborne supply when it comes online.

Iron ore prices extended gains to a second straight session on Tuesday.

The equal partnership with the Moroccan fertilizer producer includes the development of manufacturing facilities and an R&D hub.