Global iron ore shipments increased 3.8% Y/Y, according to BIMCO
NewsGlobal iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.
Rio Tinto has announced it will proceed with its A$400m commercial HIsmelt pig iron plant at Kwinana, near Fremantle, Western Australia, possibly leading to the construction of a steel plant. The WA Government successfully negotiated with BHP to acquire its former steelworks site and port facilities at Kwinana and has leased 70 hectares to HIsmelt.
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