Daily Iron Ore Update

Sorry some technical difficulties this morning so only the price chart today.

iron_02032014_a

Not much movement, spot is still climbing but thay may change as supply returns to normal

Ports in Australia’s resource-rich Pilbara region were returning to normal and loading vessels on Wednesday after suspending shipments and evacuating staff over the weekend as tropical cyclone Christine approached.

Port Hedland, used by BHP Billiton and Fortescue Metals to export iron ore, sustained only minor damage from the cyclone and there was no impact on port operations, which reopened late on Tuesday, port spokesman Steed Farrell said.

Cyclone Christine, which brought heavy rain and wind gusts of up to 200 km (miles) per hour to the area, forced Port Hedland to close the anchorage for a total of 66 hours and the port for 64 hours, he said.

Dampier port, through which Rio Tinto and Woodside Petroleum export iron ore and natural gas, was closed for 48 hours due to the cyclone but “major exporter operations were returning to normal”, acting chief executive Paul Toussaint-Jackson told Reuters.

 

 

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