China

Researchers from ANU have explored China’s plans to bolster energy security in the wake of the Russian invasion of Ukraine.

The Victorian minerals industry has increased mineral exploration expenditure by 35 per cent, as its average quarterly growth rate continues to double the national average.

The iron ore price has reached six-month highs at $US156 ($212) per tonne (t) after it gained 8 per cent in five consecutive days of growth, mainly due to Russia’s war on Ukraine.

The iron ore price has dived $US10.5 per tonne (/t), as China’s trade regulators moved to cool the recent rally to five-month highs above $150 ($AUD209).

Australia’s impending AdBlue shortage has been eased by fertiliser manufacturer Incitec Pivot and the federal government’s AdBlue Taskforce.

China has cleared most of the Australian coal that had been held at Chinese ports due to a coal import ban, according to Fengkuang Coal Logistics.

The price of Australian seaborne 62 per cent iron ore fines has topped $US130 per tonne for the first time since October 2021, thanks to increased Chinese steel production.

Thermal coal prices have risen above $US200 per tonne for the first time since November began, owing to Indonesia’s export ban while it manages domestic supply issues.

Australian Mining takes a look back at the year that was with a recount of the top 5 stories in 2021.  

Tasmania has clocked a third consecutive month maintaining 12-month export figures above $4 billion, underpinned by mined materials and metal scraps.

Australian gold mine production declined in the third quarter of 2021 allowing China to return to the top of the world’s gold production. 

Chinese steel mills have been ordered to curb production once again to reduce air pollution, in the same week iron ore prices crept back towards $US100 per tonne.

The price of 62 per cent Australian iron ore fines has dropped below $US90 per tonne for the first time since May 2020, marking a new low for the iron ore industry.

The price of 62 per cent Australian iron ore fines has dropped below $US100 ($134.6) per tonne for the second time in as many months, as China capped steelmaking capacities.

It was gold price, lithium demand and China’s appetite for copper that dominated much of the discussion at Mines and Money Online Connect at IMARC this week.

Interest in Australia’s metallurgical coal (met coal) has enjoyed a significant increase in recent times, as South Korea, Japan and Europe pounce on the popular resource.

China may begin to clear stockpiled Australian thermal coal imports into its domestic markets as demand ramps up across the country, according to Wood Mackenzie.

BHP remains optimistic about the trade tensions between Australia and China, as iron ore miners continue to feel the pinch of reduced commodity prices.

Iron ore prices have dropped to a 10-month low as China made further calls to slow steel production, causing major and minor iron ore miners alike to feel the effects in Australia. 

Thermal and coking coal production have helped the overall balance of goods and services to record levels in July, according to Australian Bureau of Statistics (ABS) trade data.