Tag Archives: UBS

Iron ore price in free-fall as it breaches US$85 per tonne

Michael Sainsbury The benchmark price of iron ore appears to be in free-fall as it slumped another 1.6% to close the day at US$84.30 for 62%Fe product at China’s Tianjin port as it continued its slide towards five years lows last seen in October 2009 during the global financial crisis. At these prices about 25

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Iron ore miner Fortescue roars back from the brink

Michael Sainsbury It was with an air of triumph that Andrew Forrest, the billionaire founder of Fortescue Metals Group, opened the company’s fourth mine in late March. FMG is Australia’s third-largest iron ore producer; 400 select guests attended the ceremony for Kings, the new site in the country’s remote northwest. Australia’s third-largest iron ore producer,

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Aluminum volatility snares Asian buyers

  Michael Sainsbury Manufacturers across Asia are being hit by surging aluminum prices, as smelter closures around the world and an overhang of more than 5 million tons of the metal stashed in warehouses continue to play havoc with the market. Unlike many other commodities, traded aluminum carries an inbuilt premium, which is expected to

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