Vale's Mining Sees Highest Demand in the Commodities Sector Since 2013

Vale’s Mining Sees Highest Demand in the Commodities Sector Since 2013

Written by Valdemar Medeiros

Published on 07/12/2020 at 12:13

Updated on 07/12/2020 at 12:17

Mineração na Vale

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With The Rise In Prices And The Steel Mining Sector Expanding In China, There Was A Reduction In The Production Stocks Of Iron Ore From Vale.

The increase in Vale’s iron ore and the mining industry overall reached a high of US$ 150 last Friday, the highest value of the commodity since March 12, 2013, in Brazil and worldwide.

The Three Factors For The Rise In The Price Of Iron Ore From Vale

First, China’s steel industry is growing with 90 million tons per month, over four months, being shipped from the mills, signaling that China is back to work.

Second, there was another drop in iron ore stocks at Chinese ports. Stocks in 45 surveyed ports fell to a reported total of 1.6Mt last week. This occurs at a time when steel mills are looking to replenish with iron ore and other inputs besides Vale.

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Mining: Manufacturing In China On The Rise, Increasing Demand For Iron Ore

In November, the Purchasing Managers’ Index for mining in China rose to 52.1 (50 being the mark that separates growth from contraction in production). This was much better than consensus forecasts. Another regular survey, this time about export activity in the mining industry in China, reached a 10-year high of 54.9 in November.

As Dhar points out, base metals and iron ore are the most leveraged for an industry-led recovery in China. China continues to invest heavily in infrastructure – three weeks ago, for example, it announced the construction of a new 1,100 km railway line from the Sichuan Province to Lhasa, Tibet.

Infrastructure accounts for up to 25% of Chinese steel demand (with another 20% coming from manufacturing). Such is the demand for iron ore that two private (but dormant) iron ore mines in the Northern Territory are being reopened.

The Roper Bar mine resumed mining at the beginning of November, while the Frances Creek mine, which has a history of intermittent mining over several decades, will be back in business in early 2021.

Vale’s Mining Sees Highest Demand in the Commodities Sector Since 2013

With The Rise In Prices And The Steel Mining Sector Expanding In China, There Was A Reduction In The Production Stocks Of Iron Ore From Vale.

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The Three Factors For The Rise In The Price Of Iron Ore From Vale

Mining: Manufacturing In China On The Rise, Increasing Demand For Iron Ore

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Vale’s Mining Sees Highest Demand in the Commodities Sector Since 2013

With The Rise In Prices And The Steel Mining Sector Expanding In China, There Was A Reduction In The Production Stocks Of Iron Ore From Vale.

Also Read

The Three Factors For The Rise In The Price Of Iron Ore From Vale

Mining: Manufacturing In China On The Rise, Increasing Demand For Iron Ore

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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