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Steel & Metal
- Brazil -

Iron Ore Railway Construction Halted in Brazil Amid Investor Search

The construction of the west-east integration railway (FIOL) by iron ore producer Bamin has been suspended due to ongoing negotiations for the sale of the project. Bamin, controlled by Eurasian Resources Group (ERG), cited the search for investors as the reason for the halt. The FIOL project spans 537 km and is part of a broader initiative that includes expanding the Pedra de Ferro mine's capacity and building an iron ore terminal in Ilhéus, Bahia. Additional funding of $5 billion is needed to complete the project. The Brazilian government has suggested Vale's participation, but the company is showing limited interest, considering the project's economic viability compared to its existing operations.

Iron ore futures extend gains as China outlines stricter steel capacity controls

Baosteel Q3 net profit jumps 130% on demand recovery and resilient exports

LME proposes permanent curbs on large nearby positions amid depleted stocks, zinc squeeze

China lifts curbs on Hancock Prospecting’s MB fines purchases, easing iron ore trade friction

China’s CISA mills lift early‑October crude steel output 7.5%; inventories also climb

India’s steelmakers seek relief from import curbs as H1 met coke shortfall widens

China iron ore futures slip; Tangshan concentrate prices steady amid tight supply

Indonesia suspends all scrap metal imports after radioactive contamination detected

Serbia asks EU to exempt it from proposed new steel tariffs and quota cuts

U.S. judge signals approval of Rio Tinto’s $138.75 million Oyu Tolgoi investor settlement

Rio Tinto says strong Q4 needed to hit iron‑ore target after Q3 shipments of 84.3 mt; China demand firm

ArcelorMittal’s M&A chief in South Africa for talks on sale of local unit, sources say

EU plan to halve steel import quotas and double out‑of‑quota tariff to 50% raises Indian export risk

Copper tops $11,000/t on LME as supply disruptions and fund buying lift prices