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28 July 2015
China’s steel and steelmaking materials futures advanced during morning trading on Tuesday July 28 despite a plunge in the country’s stock market a day earlier.
27 July 2015
Russia’s Koks Group reduced its pig iron output by 3% year-on-year to 1.06 million tonnes in the first half of 2015, the company said on Monday July 27.
Here are the key numbers in the iron ore market on Monday July 27, at 7pm Singapore time.
Seaborne iron ore prices edged up on Monday July 27 on the back of gains in China’s spot steel market.
Seaborne concentrate and pellet prices edged up during the week ended July 24, however, demand remained thin as Chinese mills struggled to maintain profits amid a slack steel market.
Iron ore output in the second quarter from the four major producers came as little surprise as the miners continued their strategy of staying at the bottom of the cost curve and maximising productivity.
China’s steel and steelmaking raw materials futures largely fell during morning trading on Monday July 27, amid a weak spot market.
24 July 2015
Latin America editor Ana Paula Camargo looks at the main news covered by Steel First over the past week.
Peru’s sole iron ore producer, Shougang Hierro Perú, saw its net profit fall by 58.1% year-on-year in the second quarter of 2015.
UK-listed mining major Anglo American has recorded $3.5 billion in non-cash impairments after tax at June 30, 2015, due to lower raw material prices, it said in its interim report on Friday July 24.
The government of the state of Goa in India has scheduled a seventh electronic auction of iron ore for August 4, its Directorate of Mines & Geology said on Thursday July 23.
Here are the key numbers in the iron ore market on Friday July 24, at 7pm Singapore time.
The seaborne iron ore market continued see a dearth of activity on Friday July 24, though trading at Chinese ports appeared to have picked up.
China’s steel futures continued to gain ground on Friday July 24 despite disappointing economic data and a weak spot market.
23 July 2015
Brazil-based iron ore producer Vale’s pellet output hit a historical quarterly record in April-June 2015, at 12.2 million tonnes.
Brazilian miner Vale saw its iron ore output rise by 7.8% year-on-year in the second quarter of 2015, to 85.3 million tonnes.
Here are the key numbers in the iron ore market on Thursday July 23, as at 7pm Singapore time.
The seaborne iron ore market remained largely unchanged on Thursday July 23 with some support coming from gains in futures prices.
Australia’s BC Iron reported lower iron ore output in the June quarter but saw its shipments increase over the three-month period as it sold materials from its inventory.
China’s steel futures rebounded during early trading on Thursday July 23, although spot prices remained depressed.
Australia’s Fortescue Metals Group (FMG) shipped 42.4 million tonnes of iron ore during the June quarter, up 10% on the year, the miner said in its quarterly report on Thursday July 23.
22 July 2015
A court in Brazil’s north-eastern Maranhão state has partially suspended work on the duplication of Vale’s Estrada de Ferro Carajás (EFC) railway.
Here are the key numbers in the iron ore market on Wednesday July 22, at 7pm Singapore time.
BHP Billiton remains committed to expanding its iron ore output, despite a weak pricing environment.
Seaborne iron ore prices weakened on Wednesday July 22 amid thin trading following drops in the billet and futures markets.
Australia's Grange Resources saw its total sales for iron ore products increase 6.3% year-on-year in the June quarter on “strong ongoing demand”.
China’s steel and steelmaking raw materials futures continued to slide during morning trading on Wednesday July 22 as billet prices continued to reverse gains made earlier in the week.
BHP Billiton’s Western Australia iron ore output rose by 5% year-on-year on a 100% basis in the June quarter on supply chain improvements and successful ramp-up of the Jimblebar mining hub.
Summary of BHP Billiton’s production results for the three months ending June 30.
21 July 2015
Seaborne iron ore prices stayed flat on Tuesday July 21 as trading slowed down after price cuts in the semi-finished steel market.
Here are the key numbers in the iron ore market on Tuesday July 21, at 12pm London time.
Summary of China’s steelmaking raw materials imports in June.
China’s steel and steelmaking raw materials futures fell during morning trading on Tuesday July 21, as a gloomy outlook for the steel sector offset the impact of a surge in billet prices the previous day.
Seaborne concentrate and pellet prices edged up slightly during the week ended July 17, tracking an uptrend in the fines and lumps market.
Australian junior iron ore miner Atlas Iron has raised A$86 million ($64 million) from existing shareholders, contractors and new investors as part of its restructuring plan, it said on Tuesday July 20.
20 July 2015
Dutch trading company Trafigura has made a bid to acquire the mining operations of Brazilian iron ore producer MMX Sudeste, according to a restructuring plan published by the miner late on Friday July 17.
Sweden’s state-owned iron ore miner, LKAB, could sell iron ore to the buyers of the Kaunisvaara processing plant previously owned by Northland Resources, LKAB chairman Sten Jakobsson said.
Iron ore prices are unlikely to find support from an expected recovery in China’s steel demand in the second half of 2015, due to rising seaborne supply volumes from new and existing mines, Goldman Sachs says.
China’s domestic iron ore output continued to shrink on a yearly basis in June, with volumes down by 8% as miners cut production amid short demand.
Iron ore shipment volumes from Australia’s Arrium Mining & Materials dropped by 13% year-on-year in April-June, although the averaged realised price was up during the quarter.
Here are the key numbers in the iron ore market on Monday July 20, at 7pm Singapore time.
Seaborne iron ore prices rose on Monday July 20 as a surge in the semi-finished and finished steel markets boosted sentiment.
China’s steel and steelmaking raw materials futures traded in narrow range during morning trading on Monday July 20 after the Chinese government stepped up the implementation of its new green law.
17 July 2015
Editor Vera Blei looks at the main news covered by Steel First of the past week.
Metalloinvest’s $750m loan was no picnic for lending banks – the Russian miner self-arranged the deal and pushed hard on pricing – but this tenacious deal will not encourage a run of Russian deals any time soon.
Anglo American’s South African subsidiary, Kumba Iron Ore, will close its Thabazimbi mine in the country’s Limpopo province as mine life comes to end, it said on Thursday July 16.
China’s steel and steelmaking raw materials futures were sluggish during early morning trading on Friday July 17, as a one-day national holiday in Singapore slowed iron ore trade, while spot markets remained weak.
16 July 2015
Seaborne iron ore prices continued to hover around the $50-per-tonne-cfr-China mark on Thursday July 16 with buyers still unwilling to pay any higher.
Anglo American’s Kumba iron ore business in South Africa has reported a 9% year-on-year decrease in iron ore production in the June quarter of 2015.
Rio Tinto saw its iron ore shipments rise in the second quarter despite some weather disruptions in April and May that led to prices for the steelmaking raw material rallying by almost 40%.
China’s steel and steelmaking raw materials futures rose during morning trading on Thursday July 16, while spot prices remained under pressure amid ample supply and weak demand.
15 July 2015
Australia’s Mount Gibson Iron shipped 1.7 million wet metric tonnes (wmt) of iron ore during the April-June quarter this year, the company has said.
Several more Chinese steelmakers have announced pessimistic forecasts for their financial performance in the first half of 2015 against the backdrop of a depressed spot steel market.
Global bank Citi has cut its forecast price for 62% Fe iron ore to an average of $42 per tonne cfr China in the third quarter of 2015, down by 13% from its previous estimate.
Here are the key numbers in the iron ore market on Wednesday July 15, at 7pm Singapore time.
A group of Swedish industrialists including the chairman of BP have bought key assets from bankrupt miner Northland Resources, law firm Advokatbyrån Kaiding said on Wednesday July 15.
The seaborne iron ore market remained largely unchanged on Wednesday July 15, with buyers and sellers seeing the $50-per-tonne-cfr-China mark as a wall dividing them.
Junior iron ore miner Baobab Resources plans to decouple itself from volatile global raw material markets by taking its Mozambique project further downstream.
China’s steel and steelmaking raw materials futures traded largely down in the morning session on Wednesday July 15, as participants shrugged off better-than-expected economic data amid a weak spot market.
Vale’s plans to cut 25-30 million tpy of low-quality iron ore production from its South and Southeastern systems as well as its purchases from third parties will result in materials in its term contracts being affected.
China’s crude steel output was largely flat on a year-on-year basis in June, as mills maintained production rates to ensure their cash flow is not disrupted in the face of falling steel prices.
14 July 2015
Here are the key numbers in the iron ore market on Tuesday July 14, at 7pm Singapore time.
Seaborne iron ore prices continued to hover around the $50-per-tonne mark on Tuesday July 14 as offers and bids continued to diverge.
The National Union of Mineworkers of South Africa has said it will call a strike if discussions over proposed job losses at Anglo American’s Kumba Iron Ore are unsuccessful.
China’s steel and steelmaking raw materials futures were weak during morning trading on Tuesday July 14, amid a gloomy outlook for the sector.
13 July 2015
Iron ore prices in the global market may have reached a floor, according to Vale executive director for ferrous minerals Peter Poppinga.
Vale will withdraw 25 million tpy of iron ore supply from the global market, executive director for ferrous minerals Peter Poppinga has said.
The rebound seen in the benchmark iron ore price late last week may have provided some relief after a whopping $5 per tonne drop on Wednesday July 8, but this does not mean that the price has hit the floor.
Last week was one of the toughest on record for China’s steel industry.
Prosecutors from Switzerland have travelled to Guinea to gather evidence for a criminal probe into how Israeli billionaire Beny Steinmetz’s mining business, BSG Resources, gained mining rights to the Simandou deposit.
Here are the key numbers in the iron ore market on Monday July 13, at 7pm Singapore time.
Seaborne iron ore prices were little changed on Monday July 13 amid thin trading, though market participants are expecting some turbulence ahead.
The seaborne concentrates and pellet market lost ground during the week ending July 10, although particpants reported an uptick in sales of concentrate.
Fortescue Metals Group has set an adjustment of 6% for August shipments of its 56.7% Fe Super Special fines, market sources told Steel First on Monday July 13.
China’s iron ore imports were largely flat year-on-year in June, according to preliminary data from the country’s customs authority released on Monday July 13.
China’s steel and steelmaking raw materials futures were mixed during the morning session of Monday July 13, following a small rise in spot prices at the end of a volatile week of trading.
10 July 2015
Editor Vera Blei looks at the main news covered by Steel First over the past week.
Global steel major ArcelorMittal has vetoed any further investment in its Liberia iron ore operations, amid a further drop in iron ore prices, sources have told Steel First.
Simon Wandke has been promoted to ceo of ArcelorMittal Mining, replacing Bill Scotting with immediate effect, ArcelorMittal said on Friday July 10.
China’s stock markets have gone from being the darling of investors to a ticking time-bomb, with nearly $3.5 trillion of value vapourised in less than a month.
Anglo American’s Kumba iron ore business in South Africa has proposed cutting its workforce by 21% amid challenging market conditions.
Here are the key numbers in the iron ore market on Friday July 10, at 7pm Singapore time.
The seaborne iron ore market ended one of its most dramatic trading weeks on a quiet note on Friday July 10, as a widening bid-offer spread stalled transactions.
China’s steel and steelmaking raw materials futures traded in a narrow range during morning trading on Friday July 10, with participants still having concerns about where the steel market is headed.
09 July 2015
Mining and metals companies’ emphasis on short-term capital returns over long-term growth presents the principal risk for the sector in 2015-16, consultancy group EY said this week.
Here are the key numbers in the iron ore market on Thursday July 9, as at 7pm Singapore time.
The seaborne iron ore market recovered on Thursday July 9 as rapidly as it plunged a day earlier, with prices drawing closer to the $50-per-tonne mark.
China’s equity meltdown is not only bringing misery to the steel market, but it is leaving its mark on the iron ore sector too.
China’s steel and steelmaking raw materials futures rebounded during early trading on Thursday July 9 following the losses of the past couple of days.
08 July 2015
Here are the key numbers in the iron ore market on Wednesday July 8, at 7pm Singapore time.
Seaborne iron ore prices plunged on Wednesday July 8, after deals on platforms were concluded at record lows and the futures contract on the Dalian Commodity Exchange (DCE) continued its dive south.
Talks of production cuts are back on the agenda as benchmark iron ore prices dived below $50 per tonne cfr China this week for the first time since mid-April, with further falls expected.
China’s iron ore and coking coal futures hit their daily lower limit during morning trading on Wednesday July 8, while steel futures hovered at record lows as panic gripped the market.
07 July 2015
Brazil saw iron ore exports to its major consumer market, China, increase by almost 1.8% in June on an annual basis.
Peru’s sole iron ore producer, Shougang Hierro Perú, saw its production decrease by 14.3% year-on-year in May.
The effects of the plunge in the Shanghai stock market at the end of last week continued to be felt in the country’s steel market on Tuesday July 7.
Here are the key numbers in the iron ore market on Tuesday July 7, as at 7pm Singapore time.
The seaborne iron ore market extended its downtrend on Tuesday July 7 amid stagnant trading as China’s iron ore futures plummeted to its lower limit for a second day.
Pessimism was the order of the day in China’s spot rebar market on Tuesday July 7 as futures prices continued to head south.
China’s iron ore futures hit its daily lower limit for a second day during morning trading on Tuesday July 7, while other steel and raw materials futures remained weak amid bearish sentiment.
06 July 2015
Norway-focused iron ore producer Northern Iron has rearranged its financing and offtake deals to allow it to continue operations at its Sydvaranger mine, it said on Monday July 6.
Prices for higher-grade iron ore suffered heavy losses last week as lower offers for seaborne materials failed to generate enough buying interest amid a sluggish steel market.
Here are the key numbers in the iron ore market on Monday July 6, at 7pm Singapore time.
The seaborne iron ore market weakened further amid thin trading on Monday July 6 after China’s iron ore and rebar futures plunged to their lower limits during the day.
China’s steel and steelmaking raw material futures plunged by their daily limit during morning trading on Monday July 6, as market sentiment deteriorated following a major drop in billet prices over the weekend.
The price of billet in northern China’s Tangshan city has fallen below 1,800 yuan ($294) per tonne for the first time, sending it to its lowest level since at least a decade.
03 July 2015
The benchmark iron ore price saw its biggest daily drop for more than 13 months this week, prompting fears in the market and reminding participants of the record-low price set in early April.
Here are the key numbers in the iron ore market on Friday July 3, at 7pm Singapore time.
Seaborne iron ore prices weakened further on Friday July 3 amid moderate trading activity after the market tumbled a day earlier.
Ukraine-focused iron ore producer Ferrexpo boosted its second-quarter pellet output by 15% year-on-year to 2.93 million tonnes, it said on Friday July 3.
China has granted very large ore carriers (VLOCs) access to four of its ports, the country’s National Development and Reform Commission (NDRC) said on Friday July 3.
China’s steel and steelmaking raw materials futures fell on Friday July 3 as spot iron ore prices saw their biggest daily fall this year.
02 July 2015
The economic signals from China continue to point at lacklustre growth, forcing the government to step up stimulus measures.
Here are the key numbers in the iron ore market on Thursday July 2, as at 7pm Singapore time.
Iron ore exports out of Australia’s Port Hedland reached a record high in June, according to figures released on Thursday July 2 by the Pilbara Ports Authority.
The seaborne iron ore market became more active on Thursday July 2 despite prices for 62% Fe materials falling below $55 per tonne cfr China on trading platforms.
Brazilian mining major Vale’s earnings could reach $2 billion in the second quarter of 2015 on a positive iron ore performance, Itaú BBA analyst Marcos Assumpção said this week.
China’s steel futures surged during early morning trading on Thursday July 2, even as spot steel prices slumped to new lows.
01 July 2015
Brazil's iron ore export volumes increase by 3.4% year-on-year in June, according to the figures released by the country’s foreign trade ministry, MDIC, on Wednesday July 1.
Mexico’s iron ore output dropped by 3.6% year-on-year in April, according to figures released by the country’s statistics agency, Inegi, on Tuesday June 30.
Canada-based Northern Iron Corp is looking for a strategic partner to develop a direct reduction iron (DRI) project in the city of Dryden, in the country’s east-central Ontario province.
The government of Cameroon has agreed to fund the rail and port infrastructure of Sundance Resources’ Mbalam iron ore project in Africa.
Seaborne iron ore prices continued to soften on Tuesday June 30 with market participants withdrawing to the sidelines after the drop a day earlier.
Here are the key numbers in the iron ore market on Wednesday July 1, at 7pm Singapore time.
Atlas Iron has restarted mining operations at its Mount Webber mine in Western Australia’s resource-rich Pilbara region, it said on Wednesday June 1.
The seaborne iron ore concentrate market is showing no signs of recovery in prices and trading volumes with Chinese mills continuing to incur severe losses.
China’s steel and steelmaking raw materials futures were mixed on Wednesday July 1, despite weak economic data and record-low spot prices.
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EU grade-304 stainless #steel index rises by $5 per tonne http://t.co/tm1eB6ZV3T
#IRONORE PRICES: Benchmark index rises to $52 per tonne cfr http://t.co/kv5v3kgyrT
CIS export billet market fails to follow China price rises http://t.co/YEbF7Znh2K
14-16 September 2015
17th September 2015