TRADE AND COMMODITIES

by solerm — last modified Jun 25, 2009 04:29 PM

European steel mills now importing Brazilian ore: STEEL mills in Europe have started importing iron ore from Brazil for the first time since January, boosting sentiment for a recovery in transatlantic trade for capesize bulk carriers.
Capesize fleet tied up: CONGESTION at China’s iron ore ports has hit a new high, with 87 capesize bulk carriers at anchor waiting to discharge cargoes, according to Simpson Spence & Young.
China ore mines closing: CHINA’s iron ore mines face a massive shakeout, with a “severe fall” in domestic production set to boost shipments from Brazil and Australia, according to the United Nations Conference on Trade and Development.