The Cairn Hill iron ore project in South Australia has fallen victim to iron ore price drops, becoming one of the very first to drop out of the game.

The Qingdao port probe has continued to wreak havoc with markets, spreading further disruption and spooking lenders. Metal Bulletin deputy editor Fleur Ritzema takes a look back at the key stories this week.

“It’ll all blow up. Or it’ll all blow over.” That was how the head of one LME brokerage summed up the possible repercussions of the situation in Qingdao at the end of the week.

Chinese companies are investing in a $5-billion industrial plant in Indonesia with ferronickel and nickel pig iron smelting facilities, an executive at the Indonesian Chamber of Commerce and Industry has confirmed.

The Goodwood Revival motor racing meeting in September every year advertises itself as "a magical step back in time", with its theme of cars and costumes from the heyday of the circuit.

The Bank of China is limiting the amount of financing available for new iron ore deals as part of a widespread crackdown on the irregular financing of imported commodities, sources told Steel First on Thursday June 5.

Kazakhstan-based miner ENRC will halt production of cobalt oxide concentrates at its DRC Boss Mining operation from the start of 2015, Metal Bulletin understands.

Newmont Indonesia has informed the government and employees that it is declaring a force majeure at its copper and gold mine in Batu Hijau amid restrictions on exports.

Copper premiums in Shanghai continued to fall on Wednesday June 4 with offer prices dropping as low as $90 per tonne on a cif basis as the probe into the use of metal for collateral in Qingdao pushed buyers to the sidelines.

Authorities in Qingdao have blocked the shipment of some material from the Dagang terminal as they investigate the allegedly fraudulent use of warehouse receipts multiple times to raise finance.