Saturday, October 2, 2021

Iron Ore me this

A substantial decline in iron ore prices has been made worse by a rapid rise in shipping freight rates. Iron ore prices have collapsed some 60% since a multi-year record in May. In less than two months, three of the world's largest ore miners, Rio Tinto, BHP and Vale lost a combined $110 billion in market value. How is Teck faring? Not so bad, relatively speaking. While demand for steelmaking coal is declining, the demand for fuel to produce electricity is rising.