Original article by Paul Garvey
The Australian – Page: 17 & 28 : 11-Apr-17

The spot price of iron ore for delivery to the port of Qingdao in China recently reached a low of $US75.45 per tonne, compared with a peak of $US94.86 in late February. However, China’s iron ore stockpiles have fallen by 1.1 million tonnes to 121 million tonnes since early April. The recent downturn in the spot price had been attributed to a sharp rise in Chinese stockpiles. Macquarie Group notes that demand for iron ore and steel will be boosted by the Chinese Government’s plans to develop the new Xiongan region.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, IRON ORE RESEARCH PTY LTD, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, COMMUNIST PARTY (CHINA)