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Champion Iron Ord Shs T.CIA

Alternate Symbol(s):  CIAFF

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.


TSX:CIA - Post by User

Post by Captgo01on Apr 26, 2021 6:39pm
358 Views
Post# 33071668

Iron ore price surges to record high

Iron ore price surges to record highIron ore prices jumped to a fresh high on Monday, supported by structural contradiction of supplies and a shortage in medium and high-grade products, Jinrui Capital analyst Zhuo Guiqiu told Reuters.

“Even the low-grade Super Special Fines with 56.7% iron content is at over 1,200 yuan a tonne, which is more expensive than the most-traded futures contract,” Zhuo added.

SIGN UP FOR THE IRON ORE DIGEST

Iron ore futures on the Dalian Commodity Exchange, for September delivery, closed 4.3% higher at 1,145 yuan. The contract jumped 6.3% earlier.

According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $193.58 a tonne on Tuesday, up 3.93% from Friday trade.

The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $226.90 a tonne.

Chinese steel futures also closed at all-time highs, underpinned by robust demand and concerns over production curbs.

The northwest Shaanxi province recently urged local departments, as requested by China’s state planner and other authorities, to verify local steelmakers’ crude steel output in 2020 and explain those whose production exceeded designated capacity or didn’t meet it.

Another major steelmaking city Handan in the Hebei province recently issued a notice, asking mills to implement production-control measures in the second quarter.

COPPER JUMPED TO A 10-YEAR HIGH AS COMMODITIES ADVANCE TOWARD THE HIGHS OF THE LAST SUPERCYCLE

The measures have sparked concerns of more curbs in the ferrous sector, lifting prices as demand is still strong during the peak season.

The most-active construction rebar on the Shanghai Futures Exchange, for October delivery, rose as much as 4.3% to 5,475 yuan ($843.63) a tonne. It closed up 2.3% at 5,371 yuan.

Top iron ore producers Rio Tinto, BHP, and Vale released disappointing output figures last week. And a weaker dollar is making commodities traded in the currency cheaper to buy.&


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