Iron ore futures close lower.

UK-Australian resources firm BHP is altering its 80mn t/yr South Flank iron ore project in the Pilbara region of Western Australia (WA) after a pledge not to destroy heritage sites in the mining area.

Iron ore concentrate floating prices were flat this week as buyers remain price sensitive on high-grade ores following gains in the underlying 65pc fines index.

Vale's decision to suspend iron ore mining at its Itabira complex in Brazil will have little effect on the Chinese and global iron ore market despite the marginal effect on the Brazilian market, analysts said.

WA iron ore shippers gear up for a big June.

The China Tianjin Bulk Freight Index (TBI), an indicator of northern China's international bulk freight rates, stood at 541.09 points on Tuesday, up 0.05 percent compared with the previous working day.

Those expecting a boost in Chinese imports of iron ore as happened following the global financial crisis were disappointed.

Operations at the world's deepest gold mine, in South Africa, have been halted after 164 cases of coronavirus were detected there.