Benchmark iron ore prices spiked on Monday after trade data showed Chinese imports of the steelmaking raw material remain robust despite an economic slowdown in the top commodity consumer.
The Chinese import price of 62% Fe content ore jumped by 4.4% on Monday to $92.97 per dry metric tonne according to Fastmarkets MB.
China’s iron ore purchases in August totalled just under 95m tonnes, up 4.2% from July and 6.2% from last year customs data showed, marking the highest level of imports since January 2018. Iron ore imports are set to reach another record in 2019, with annualized shipments running at 1.12 billion tonnes.
Anglo Pacific Group PLC (LON:APF) has a 1.5% life of mine GRR over three exploration tenements in the central Pilbara region of Western Australia owned by a wholly-owned subsidiary of BHP Group (LON:BHP), which is dual-listed on the LSE and ASX.