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According to the quarterly outlook report of the Australian Department of Industrial Innovation and Science, Australia's iron ore export revenue is expected to peak at A $123 billion by 2020-21. Iron ore prices are expected to remain strong over the next six m...

Even as S&P Global Platts IODEX 62% Fe fines benchmark fell Dec. 14 to $154.50/dmt, total pellet prices indicated well above earlier levels.

The settlements for BF-grade pellet premiums are double the $20/dmt premium in the previous quarter and 93pc higher than $24/dmt for DR-grade pellets.

Political tensions between Australia and China did not appear to affect trade between the two countries in October, as a rise in iron ore export receipts sent the value of Australia's shipments to its biggest trade partner to a four-month high.

Among them, the number of outbound trains during the period was 1,023, up 54.3 percent year-on-year, while 1,135 inbound trains were recorded, up 52.6 percent, according to China Railway Hohhot Group.

The strong economic data boosted sentiment even further in the iron ore market.

The joint research center has already delivered great insights into the outlook of Rio Tinto's largest market.

UK-Australian iron ore mining firm BHP has signed an agreement with Chinese steelmaker China Baowu to invest up to $35mn in jointly seeking technical solutions to reduce carbon emissions in steelmaking.