With a market facing a global deficit, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue and rivals bring on new mines in Australia’s Pilbara region.
Futures topped $90 a tonne on Wednesday amid increasing concern the crisis at Brazil’s Vale SA will be drawn out as regulators ordered dozens of dams to be shut.
Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the weather-related disruptions from Australia and the safety outages in Brazil.
There is enough evidence to conclude that risk capital has found a new home, a BDO report shows. The question now is, how and where will junior miners find the capital needed to sustain their businesses?