Capesizes have soared back to six figure territory to hit highs not seen for 14 months, on the back of strong China demand, growing port congestion and, worryingly for owners, a surging paper market.

China is in the process of restocking iron ore volumes ahead of the
annual contract negotiations with the main global miners. China’s coal
needs have also jumped on the back of an especially cold start to
winter.

Source: SeaTradeAsia-Online

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• China acts tough in front of iron ore talks

    China is at it again. This year also China has decided to take a hardline as far as iron ore price negotiations are concerned. Even before the Beijing starts its 2010 iron ore annual contract price negotiations in April with the big three global iron ore-mining giants, the country has

• China MiIT supported CISA and CCCMC in negotiations with foreign companies

    Zhu Hongren, spokesman for China’s Ministry for Industry and Information Technology (MIIT) has made a statement against the background of the iron ore contract price talks for 2010.

• Iron ore output jumps when calls can be affected in China

    Steel production in China has gone up in 2009 and this has complicated the country’s iron ore price talks with international companies. A report said the country’s steel production has climbed up by 14 per cent to a record last year. Steel output rose to 568 million tonnes in 2009

• High iron ore price will help position the miners

    The position of global mining groups in their annual iron ore negotiations with steelmakers has been strengthened after spot prices reached their highest level of the year on Thursday. Strong demand in China and supply disruptions in India are behind the move higher. The price surge to $106.9 a tonne

• Brazil Miner Vale: No Talks Yet China Iron Ore Report

    Roger Agnelli, president of Brazilian mining colossus Vale SA, said negotiations with China over 2010 iron ore term prices had not yet begun, the Valor newspaper reported Tuesday.

• BHP and 2010 iron ore negotiations

    BHP should be a good stock buy in spite of the strength of the mining sector and stock gains it has made last year.

• China is looking for a new iron ore negotiation mechanism

    China’s steel industry signed a high profile price cut agreement with Australia’s Fortescue Metals Group Ltd (FMG), avoiding Rio Tinto and BHP Billiton. This shows China’s intention to break the traditional negotiation model, so as to weaken the influence of the three iron ore giants. It also shows the willingness of

• China is looking for a new iron ore negotiation mechanism

    On August 17, China’s steel industry signed a high profile price cut agreement with Australia’s Fortescue Metals Group Ltd (FMG), avoiding Rio Tinto and BHP Billiton. This shows China’s intention to break the traditional negotiation model, so as to weaken the influence of the three iron ore giants. It also shows

• China discovers 5 billion tons of iron ore in 2009

    China discovered five billion tonnes of iron ore deposits last year, the government said.

• Steelworks feel the heat in the ore talks as output peaks

    Crude steel production in China, the world’s largest steel maker, rose 14 percent to a record last year, further complicating this year’s iron ore negotiations. Steel output rose to 568 million tons in 2009 from 500 million tons in 2008, the National Bureau of Statistics said in a statement yesterday.

• China, Rio Tinto Iron Ore Negotiations at standstill in

    Negotiations between China, the world’s largest steelmaker, and iron ore suppliers like Rio Tinto, are getting increasingly tense.

 China is pressing for a 40% price cut relative to 2008 contracts whilst suppliers have only been willing to reduce prices by 33% in line with recent agreements made with Japanese and

• Albanese CEO of Rio: steel strength is a good omen for iron ore

    Rio Tinto Ltd. Chief Executive Tom Albanese said Friday iron ore demand is stronger than it has ever been and this is a good sign for pricing of the product in 2010.

• Steelworks flummoxed as the place of iron ore to the north

    Surging spot prices of iron ore delivered to China have further complicated this year’s negotiations with key suppliers. Price of the 63.5 percent iron-content ore rose to $129 per ton including freight yesterday, after India raised taxes on exports, up 6 percent from last week and more than 50 percent

• Iron ore talks for 2010 with Baosteel is expected to present in December as head start

    China’s top steel maker the Baosteel Group is to head the Chinese side in the negotiations on iron ore prices for the 2010 long-term agreements with the world’s top three iron ore suppliers, BHP Billiton , Rio Tinto and Vale, according to local media reports. The reports say the first

• OOCL joins Move

    Orient Overseas Container Line affirmed it would join the “emergency revenue program” announced Wednesday by the Transpacific Stabilization Agreement, of which it is a member. While TSA has no enforcement powers, its voluntary guidelines generally indicate the direction its members will take. CMA CGM, another member of the group, announced