Iron ore under pressure

By Staff reporter / June 23, 2021 / www.mining-journal.com / Article Link

Chinese regulators were looking into the iron ore spot market and pledged this week to crack down on hoarding and speculation, Reuters reported.

The MySteel 62% Australian fines lost 2.99% to US$211 per tonne.

However 58% fines gained 4.4% to $181.40/t.

A weaker US dollar helped lift base metals, with nickel up 1.7% on the London Metal Exchange to $17,724.50/t.

The global nickel market posted a deficit of 15,600t in April, from a shortfall of 17,000t in March, according to the International Nickel Study Group, Marex's Anna Stablum said.

INSG said the during the first four months of 2021, the nickel market was in a 34,900t deficit from a 48,000t surplus during the same period a year ago.

The gold price is similar to this point yesterday, around US$1,780 an ounce on the spot market.

Among the mining majors, Glencore and Freeport-McMoRan both rose about 2% in London and New York respectively.

Rio Tinto rose 1.5% in London while Barrick Gold lost 0.8% in Toronto.

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok