Rio Tinto has committed to invest $10 million with the world's largest steel producer China Baowu Steel Group over the next two years in low-carbon steelmaking projects and research, the company said.

Japanese trading house Mitsui will not extend the option to provide $60mn in funding for the 10mn t/yr Hawson iron ore project.

According to the quarterly outlook report of the Australian Department of Industrial Innovation and Science, Australia's iron ore export revenue is expected to peak at A $123 billion by 2020-21. Iron ore prices are expected to remain strong over the next six m...

Even as S&P Global Platts IODEX 62% Fe fines benchmark fell Dec. 14 to $154.50/dmt, total pellet prices indicated well above earlier levels.

The settlements for BF-grade pellet premiums are double the $20/dmt premium in the previous quarter and 93pc higher than $24/dmt for DR-grade pellets.

Political tensions between Australia and China did not appear to affect trade between the two countries in October, as a rise in iron ore export receipts sent the value of Australia's shipments to its biggest trade partner to a four-month high.

Among them, the number of outbound trains during the period was 1,023, up 54.3 percent year-on-year, while 1,135 inbound trains were recorded, up 52.6 percent, according to China Railway Hohhot Group.

The strong economic data boosted sentiment even further in the iron ore market.