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Jason Scott

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Articles

Australia’s Iron Ore Hub Prepares for Cyclone as Ports Cleared

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By Jason Scott
| BNN Bloomberg Verified
(Bloomberg) -- A storm near Australia’s main iron ore-mining region is expected to reform into a cyclone, forcing the clearing of vessels from ports used by producers including Rio Tinto Group to export the steelmaking material. Ex-Tropical Cyclone Lincoln, currently offshore, is expected to track west-southwest and reform into a cyclone Friday, the Bureau of Meteorology said on its website.
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Tropical Cyclone Jasper Weakened After Hitting Australia’s Northern Coast

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By Jason Scott
| BNN Bloomberg Verified
(Bloomberg) -- Tropical Cyclone Jasper weakened after lashing Australia’s far north overnight, yet forecasters are warning of major flooding threats to the region during Thursday. Jasper made landfall in the vicinity of Wujal Wujal, just north of Cape Tribulation in Queensland state, as a Category 2 system on Wednesday, according to the Australian Bureau of Meteorology.
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Iron Ore Hits $130 for First Time Since March on China Stimulus

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By Jason Scott
| BNN Bloomberg Verified
(Bloomberg) -- Iron ore futures in Singapore touched $130 a ton for the first time since March on improving demand for steel in China, which is considering a new wave of stimulus to shore up the struggling property sector. The steelmaking ingredient has jumped by a third from this year’s low in late May.
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