TRADE AND COMMODITIES

Reduced China ore imports bring third-quarter rate fall

CHINA’S “shock and ore” fiscal stimulus package boosted freight rates in the first six months of 2009, but two new reports forecast average bulk carrier rates to fall in the third quarter.

Bluescope to ramp up steel production

BLUESCOPE Steel will restart its No.5 blast furnace at Port Kembla Steelworks next month after demand for steel improved and international prices for hot rolled coil increased.

Mineral sands output slumps

ILUKA Resources mineral sands production declined in the June quarter as the global economic downturn forced the company to restructure its production operations.

ABB ready for record Ardrossan shipments

AGRIBUSINESS ABB Grain’s non-grain specialist shipping terminal, Ardrossan, was preparing for its busiest period on record with 30 ships lined up in the next two months, the company said.

Rio Tinto denies agreement with China

RIO Tinto has rejected claims it agreed a 33% cut in prices with China’s steel mills.