Steel prices for hot rolled coil in Europe have started to decline as end users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to the country’s zero-Covid policy. One analyst noted that steelmakers in Europe are cutting back their production. “Steel would get a bit of support from production […]
Tag: iron ore price
Forecasters call for rising Chinese iron ore prices
Ed note: MetalMiner analysts will present an aluminum and carbon steel price market outlook on Wednesday, March 2 at 11:00-11:30 am The price decline of iron ore appears short-lived as the Chinese government cracks down on speculative trading. This has led many market analysts to forecast a rise in ore prices in the coming months. […]
China’s land and expand plan to source critical metals and materials globally
In 1953, China spelled out its 1st “Five-Year Plan”. The strategy involved maximizing the nation’s control over exploration, production, and exports of natural resources. Based upon all available indicators, the country seems to have succeeded in “extending” that plan around the globe. News out of China earlier this week confirmed this fact. Ecuadorean President Guillermo […]
Iron ore prices surging on higher imports
It is always a challenge reading markets, whether you look at fundamentals of supply, demand and macro economic developments or whether you are a chartist looking at price trends to see how they compare to previous models, assessing price movement relative to Fibonacci levels and indications from high/low daily pricing data. One issue we repeatedly […]
Chinese iron ore prices rising strongly again despite property market fears
Chinese iron ore prices have certainly been on a roller coaster ride this year, hitting a record high in value terms after a period in which the price had risen and fallen sharply. Futures on the Dalian exchange for delivery in January 2022 are now trading at RMB 777 per ton. That compares with about […]
Iron ore prices plunge as China curbs steel sector output
Chinese moves to clean up their heavy-polluting industrial sector has triggered a swift collapse in iron ore prices for the first time since July 2020. Prices last Friday and Monday dipped below the $100 per ton mark. According to a draft guideline released on Thursday, the Ministry of Ecology and Environment intends to monitor 64 […]
China’s iron ore demand poses problem for some Indian steelmakers
China’s increased appetite for iron ore has become a problem for neighbor India. In the first four months of 2021, ore exports from India increased by 66% to 22.42 million tons (MT). As much as 90% of this went to China, according to Business Today. Each month, MetalMiner hosts a webinar on a specific metals […]
Iron ore market characterized by volatility
The iron ore price has been about as volatile of late as most of us can remember. The price powered relentlessly upwards this year on the back of surging demand from China and constrained supply from Brazil. Then, after hitting a peak May 10 and 12, it fell sharply into bear territory, as Beijing sought […]
Iron ore prices hit trading limits in Asia
Iron ore prices’ relentless rise this year went into overdrive Monday, hitting a +10% limit up and prompting the Dalian Commodity Exchange to raise trading limits and margin requirements in an effort to calm speculation. Separately, the Shanghai Futures Exchange said it would set fees for closing positions on its steel rebar and hot-rolled steel […]
This Morning in Metals: Iron ore prices to remain elevated in 2021
This morning in metals news: MetalMiner’s Stuart Burns weighed in on the outlook for iron ore prices and steel prices throughout the remainder of this year; the unemployment rate was unchanged in April; and the copper price has soared past the $10,000 per metric ton mark. Does your company have a steel buying strategy based […]
