The vessel is carrying 77, 000 tons of iron ore from Canada to China, he said.
This can mainly be attributed to the huge Chinese demand for iron ore from all over the globe.
Last year, China investments abroad exported 60 million tons of iron ore from their mines, according to the steel association.
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The company solely focused on iron ore from its inception in the 19th century until 2007 when it entered the coal industry.
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Paulo Roberto Costa, its downstream director, envisages trains taking soyabeans, corn and iron ore from the interior to the ports and returning with oil.
Should China be able to secure iron ore from other sources outside the big three, it could lower demand for iron ore from Vale and its rivals.
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The company rose on the growth in global trade, particularly iron ore demand from China, which pushed charter rates higher.
Analysts told the newspaper that Mr Mittal may wait and buy iron ore assets from Rio at a later date should regulators demand the miner sells part of its business to allow a merger with BHP to go ahead.
Which is not the same as iron ore consumption: for some steel is made of recycled steel, not from iron ore.
Unable to secure all the iron ore they need from Australia, a traditional source, traders in China have recently started to import from such places as Brazil.
After months of negotiations, China's steelmakers agreed to pay up to double the price for the iron ore they buy from Rio Tinto, the biggest-ever annual rise in the cost of the commodity.
He read about something called direct-reduced iron, a technique for smelting without melting--removing the oxygen from iron ore while it's still solid, that is.
It already derives about 80% of its earnings from iron ore, the bulk of which is sold in China.
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While it is also a major producer of nickel, copper and fertilizers, about 90% of its profits come from iron ore.
Other winners include Northgate Minerals, up 88%, and Mesabi Trust, a company whose income is derived from iron ore mining in Minnesota.
And Chinese stocks all through the steel industry, from iron ore to finished goods, which were built up in the expectation of a bigger stimulus package than has yet materialised, are now being run down, amplifying the downward price swing.
If things go well for U.S. Steel, the long equity position likely offsets whatever loss you would take on the CDS. U.S. Steel is far from immune to the price impact of Chinese demand, he says, and as a vertically integrated steelmaker it has exposure all along the process from iron ore to finished products.
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Australia's Senate approved the government's new tax on profits from mining iron ore and coal.
First, the seemingly insatiable global demand for iron ore and coal, especially from China.
If all goes well, the revenues produced from exporting iron ore to China in the next 2-3 years will then pay for a steelworks and, ultimately, cement and even car factories.
We expect iron ore prices to remain substantially low from 2011 prices for our forecast period.
Previously, they used relatively small amounts of everything from oil to iron ore.
Burgeoning stockpiles of everything, from copper to iron ore, sugar, and natural gas finally overwhelm real demand, and prices crater.
The mining industry, from metals to iron ore, has also seen earnings and outlooks take a hit recently, with names like Cliffs Natural Resources ( CLF) and Joy Global ( JOY) being sold as estimates soften.
The pressure to focus on commodities like iron ore is growing along with increasing demand from China.
The real explosion, however, came from the discovery of iron ore locally, and the creation of an iron industry.
The company runs minimills, which produce steel from scrap rather than iron ore and manufacture products in smaller batches than traditional plants.
The decline in the average price may not hurt the company as the company benefits from the declined in iron ore prices.
Investors should expect depressed results, mostly impacted by lower iron ore prices and a lack of contribution from its base metal division, which should remain in the red.
An even lower-cost group of domestic producers are the mini-mill operators, such as Nucor, which make steel from scrap metal instead of iron ore.
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