Steel prices in India have nearly doubled over the last year, reflective of rising steel prices across the globe. But for India, several factors such as a steep rise in the prices of raw material like iron ore — and of late, coking coal — have contributed to the steep hike. Due to China’s decision […]
Tag: Iron Ore
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 […]
ArcelorMittal to invest $800M for massive expansion project in Liberia
ArcelorMittal and Liberian President George Weah have announced a 25-year commitment to stay in Liberia. Through the deal, the steelmaker will triple its iron ore production in the country and invest an additional $800 million. The steelmaker said it has invested $1.7 billion in the country over the last 15 years. Cut-to-length adders. Width and […]
China-Australia iron ore trade surges ahead despite tensions
Diplomatic relations between China and Australia have been strained over the past year. However, that does not seem to have affected trade between the two nations. Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now. China-Australia trade After posting record exports in May and June 2021, Australia […]
Trade tensions persist, but China still needs Australian iron ore
A year ago, China fired the first salvo across Australia’s bow by amending iron ore screening provisions. This was perceived by the rest of the world as Beijing targeting Australian iron ore supply because of the latter’s support for a probe of the origins of the COVID-19 pandemic. So, now is a good time to […]
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 […]
Beijing’s warning to speculators sends metals prices falling
China’s “zero tolerance” warning to commodity speculators over the weekend sent prices of some metals and iron ore tumbling. A meeting held on Sunday between at least five government departments, including the the National Development and Reform Commission (NDRC), concluded that the fight against hoarders and speculators leading to soaring commodities prices would be taken […]
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 […]
