Steel Dynamics, Inc. Announces $0.14 Quarterly Dividend

According to the data from Brazil’s trade ministry, Brazil’s iron ore exports to China dropped by 2.2% in July to 15.9 million tons compared to the same month a year ago.

According to statistics, the iron ore exported from the Australian Port Hedland totaled 35 million tons in July, dropping by 8.6% from the previous month and down by 2% from the same month a year ago.

Russia exported some 9.76 million tons of iron ore during the first five months, decreasing by 9.1% year on year.

Japan imported 10.47 million tons of iron ore in June, a decrease of 2.7% compared to the same month of last year, according to statistics released by Japan’s Ministry of Finance.

According to statistics, UK’s iron ore imports during the first five months reached 4.672 million tons, down by 3.3% or 158,000 tons on the prior comparable period.

Mining companies will aggressively pursue increased output in the face of continuing weakness in the iron ore price, though with forecast demand not expected to keep pace with production, one analyst is warnings of a potential "disaster".

Australian Fortescue Metals Group (FMG) said that the company’s iron ore shipments hit a record high of 13.3 million tons in June, equaling an annualised run rate of 160 million tons.