Tag: Iron Ore

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. The company halted steel manufacturing activities at its assets in Mariupol, Avdiivka, and Zaporizhzhia two years ago. This includes the Azovstal, Ilyich Steel, Avdiivka Coke, and Zaporizhzhia […]

China’s Iron Ore Imports Surge Despite Evergrande Crisis

China’s Iron Ore Imports Surge Despite Evergrande Crisis Evergrande

The first month of 2024 saw iron ore kick-off to a strong start, mainly due to increasing prices and substantial imports by China. Looking at iron ore futures, many investors were optimistic that the world’s largest purchaser of ore would continue implementing sufficient stimulus measures to enhance demand. Iron ore is a critical ingredient in […]

Is China’s Surge in Crude Oil, Coal, and Iron Ore Imports Really a Sign of Economic Strength?

Is China’s Surge in Crude Oil, Coal, and Iron Ore Imports Really a Sign of Economic Strength? China economic deflation

News coming out of China indicates the country set new records in 2023 for the import of crude oil, coal, and iron ore. The revelation caught many by surprise, but analysts caution that this may not really signify a robust demand for these essential materials. Nor does it indicate that there has been any reversal […]

Salzgitter’s Relined Blast Furnace Ready to Produce 2 Million Metric Tons of Pig Iron

Salzgitter’s Relined Blast Furnace Ready to Produce 2 Million Metric Tons of Pig Iron Salzgitter pig iron.

German steelmaking group Salzgitter recently blew in Blast Furnace A at its Flachstahl works in Lower Saxony, allowing it to produce up to 2 million MT of pig iron. This came after the company completed a relining that lasted 100 days. On January 3, Saltzgitter noted that the reline included 3,000 metric tons of bricks […]

China’s Changing Appetite: The Future of Australia’s Iron Ore Supply, Iron Ore Prices

China’s Changing Appetite: The Future of Australia’s Iron Ore Supply, Iron Ore Prices iron ore futures

An expected slowdown in China’s uptake and a world that is increasingly moving toward “green” iron ore and steel will be two crucial drivers affecting the future of iron production. This is especially true for Australia, one of the world’s largest miners of raw iron ore. Should demand change or iron ore prices shift dramatically, […]

Iron Ore Price Index Soars 4% on China’s Economic Rebound, Easing Inflation in Sight?

Iron Ore Price Index Soars 4% on China’s Economic Rebound, Easing Inflation in Sight? Chinese economy

According to this report, the most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trading 2.41% higher at 851.5 yuan (US$116.80) a metric ton. The next day, the iron ore price index surged by 4%, surpassing US $117 per ton. Trader optimism largely fueled the price jump, as many felt encouraged […]

Ukraine’s Ferrexpo Sees Production Boost, Potentially Impacting Iron Ore Prices

Ukraine’s Ferrexpo Sees Production Boost, Potentially Impacting Iron Ore Prices defdew

Ukrainian iron ore producer Ferrexpo recently reported a 59% increase in its commercial production for H1. This figure, derived by comparing current numbers to the previous six months, has the potential to significantly impact global iron ore prices. Indeed, the total production of pellets and commercial concentrate for the first six months of 2023 came […]

Sliding Iron Ore Prices Show China’s Recovery is Still Dragging

Sliding Iron Ore Prices Show China’s Recovery is Still Dragging man-looking-at-a-declining-graph-with-chinese-flag

The iron ore slump shows that the Chinese economy continues to struggle. Moreover, if things on the steel front do not improve quickly, demand will be low for the rest of the year. Indeed, the decline in iron ore prices, which recently hit a five-month low, has many analysts worried about the robustness of China’s […]

Tata Steel’s UK Plant Struggling with Rising Costs and Decarbonization Challenges

Tata Steel’s UK Plant Struggling with Rising Costs and Decarbonization Challenges screenshot-2023-05-15-at-1-03-13-pm

Difficult trading conditions and a lack of clarity over state aid have put the future of Tata Steel’s UK plant into doubt. The Indian parent group also warned that current conditions would soon affect Tata Steel prices at Port Talbot. “A stress test conducted by the board to assess the potential impact of the economic […]

Chinese Exports into Australia Suddenly Shoot Up

Chinese Exports into Australia Suddenly Shoot Up hjhjk-2

March proved a good month for Australia and China. New data shows Australia’s exports to China touched a new high in that month. Though the export surge affected most commodities, the most prominent were coal and iron ore. Political and economic observers studying the relationship between the two nations interpret this as new signs of […]

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