Iron ore price drops to 5-month low despite record Chinese imports
China increased imports of iron ore 10% last year to 820m tonnes, but a bigger jump in stockpiles and a flood of new supply have pushed prices down 3% this year.
China increased imports of iron ore 10% last year to 820m tonnes, but a bigger jump in stockpiles and a flood of new supply have pushed prices down 3% this year.
It would appear that the support level has moved up $20 from the $1200 level.
New projects positioned to deliver growth and significantly reduce company-wide all-in sustaining costs.
The company also announced is capital expenditure forecasts, earmarking $1 billion for capital investment.
Coal accounted for 25% of the country's total electricity production in 2013,
Two of the top iron ore produces, Australia and Brazil, are set to benefit from soaring exports registered by the end of 2013.
"Texas represents a natural extension for Enbridge's growing U.S. renewable energy portfolio."
The bottom line is the action in the stocks is very encouraging with respect to a recovery in the entire sector. In fact, most quality producers and juniors bottomed in June and have not made new lows
But cost is twice more expensive than in the United States.