Champion Iron Ord Shs T.CIA

Alternate Symbol(s): CIAFF

Steel Steel

Champion Iron Limited is an Australia-based iron ore exploration and development company. The Company, through its wholly owned subsidiary, Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 kilometers (km) north of Fermont, Quebec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-lles, Quebec, and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few km south-east of Bloom Lake, and the Cluster II portfolio of properties, located within 60 km south of Bloom Lake.

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Post by Captgo01on Feb 22, 2021 10:08pm

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Post# 32633728

Iron ore price bounces back on strong demand $200. Tonne

Iron ore prices bounced back on Monday after a slight decline on Friday, as demand remains strong in China’s steel sector and doubts have been raised about Brazilian shipments.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $175.96 a tonne, up nearly 1.38% from Friday’s trade.

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Capacity utilization rates at 247 furnaces across China rose to 92.19% on February 19, from 90.94% before the Lunar New Year holiday.

Lower shipments from Brazil are supportive of iron ore prices, according to Brazilian XP Investimentos. In the week ended on February 21, Brazilian shipments decreased 8% WoW (5.5 tonne), following heavy rain in the north of the country.

The daily index for iron ore 65% Fe Brazil rose 1%, to $200 a tonne on Monday, an all-time high.

“High rain volumes at major ports will continue to represent a challenge for Brazilian players during 1Q. So far, Brazil is running below guidance,” the company said.