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22 July 2016
Mexican integrated steelmaker Altos Hornos de México (Ahmsa) has started operations at two new iron ore mines at its wholly owned mining subsidiary, Minera del Norte (Minosa).
Iron ore prices retreated again on Friday July 22, following in the lead of the futures contract of the steelmaking raw material on the Dalian Commodity Exchange.
Calm returned to the seaborne iron ore market on Friday July 22 after prices surged to the $57-per-tonne level a day earlier.
China's ferrous futures dropped across the board during morning trading on Friday July 22, after picking up a day earlier.
21 July 2016
Ratings agency Moody’s has downgraded to C from Caa2 the corporate family rating of Brazilian pellet producer Samarco and the ratings of its senior unsecured notes due in 2022, 2023 and 2024.
India’s largest merchant iron ore miner, NMDC, has reported a year-on-year increase of almost 29% in iron ore production in the April-June quarter.
Vale’s pellet output declined by 17.90% in the second quarter of 2016 compared with the corresponding period last year, it said on Thursday July 21.
Brazilian mining major Vale showed a fall in iron ore output of 2.80% year-on-year in the second quarter of 2016, it announced on Thursday July 21.
Iron ore prices moved up on Thursday July 21, taking derivatives along with them in the same direction, after several days of downward movement.
Spot iron ore prices picked up on Thursday July 21 after several days of weakness earlier this week, as ferrous futures in China posted big gains and Chinese mills came out to restock on raw materials.
India continued to ship more iron ore to China, moving up a notch to become the fourth largest supplier to the country last month. Coking coal imports also rose amid constraints in China's domestic supply.
Mount Gibson Iron’s sales for the second quarter of 2016 fell to half of those a year earlier following the transition of its Koolan Island mine into care and maintenance.
China’s steel and steelmaking raw materials futures rose during early trading on Thursday July 21, after falling for three consecutive mornings.
20 July 2016
Peruvian junior miner Ferrobamba has signed a cooperation agreement with technology provider Tenova for the supply of equipment to develop its iron ore project in the country’s Aymaraes province.
Iron ore prices weakened further on Wednesday July 20 on softening steel prices, while choppy trading was reported in the international derivatives market.
Anglo American saw its iron ore production in the second quarter grow by just over 1% year-on-year, with a ramp-up of its Minas-Rio operations offsetting lower output from the Kumba site.
A drop in trading activity was reported in the seaborne iron ore market on Wednesday July 20 amid a mix of pessimism and optimism.
Output at BHP Billiton’s Western Australia Iron Ore (WAIO) operations rose to a record high in the twelve months ended June 30, and the miner expects production to go even higher over the next financial year.
China's ferrous futures fell across board again during morning trading on Wednesday July 20, as the domestic steel market continued to weaken.
19 July 2016
China’s domestic iron ore production continued to shrink in June as the country’s steel sector maintains its reliance on imported materials.
Physical iron ore prices have fallen for a fifth consecutive trading day to just over $56 per tonne amid weaker steel prices.
Seaborne iron ore prices continued to fall on Tuesday July 19 with the Chinese steel market getting weaker.
Most of China’s ferrous futures continued to weaken during morning trading on Tuesday July 19, with steel and iron ore contracts registering further drops after plunging a day earlier.
Rio Tinto sold 1.5 million tonnes more iron ore than it produced in the June quarter thanks to good weather and operational improvements.
18 July 2016
Ratings agency Fitch has once again downgraded the credit ratings of Brazilian pellet producer Samarco on uncertainty about when it may resume output.
Iron ore prices retreated on Monday July 18 in both the physical and paper markets, following the lead of China’s Dalian Commodity Exchange.
Most spot iron ore market participants withdrew to the sidelines on Monday July 18 after China’s ferrous futures tanked.
China’s ferrous futures prices – especially those for steel products – fell during morning trading on Monday July 18, as the signs of weakness in the physical markets become more evident.
15 July 2016
Mobarakeh Steel will complete the construction of a new pelletizing plant in Iran in the next few months, according to md Bahram Sobhani.
Brazilian pellet producer Samarco is not expected to resume commercial activities in 2016.
Fortescue Metals Group (FMG) stopped giving discounts for August shipments of its major iron ore products as sales improved, sources told Steel First on Friday July 15.
International iron ore derivatives markets saw limited trading on Friday July 15 with physical prices providing little direction.
The seaborne iron ore market was rangebound on Friday July 15, though sentiment remained positive.
China's ferrous futures saw rangebound trading in the morning of Friday July 15 as statistics emerged showing the country's daily crude steel output hitting a record high of 2.316 million tonnes in June.
14 July 2016
Both physical iron ore prices and international derivatives of the steelmaking raw material fell on Thursday July 14 after the market lost more of its steam.
Seaborne iron ore prices headed south on Thursday July 14 after a strong start to the week, with the steel market experiencing a retreat.
Fortescue Metals Group (FMG) shipped 169.4 million tonnes of iron ore during its financial year ended June 30, it said.
Analysts at investment bank Macquarie said they saw little fundamental support for the recent rise in iron ore prices and are of the opinion that the market is “clearly” oversupplied.
China’s steel and coking coal futures dipped during morning trading on Thursday July 14 as spot steel prices started showing signs of weakening in the first half of the day.
13 July 2016
The rise in physical iron ore prices stalled on Wednesday July 13 while international derivatives of the steelmaking raw material traded down towards the end of Asian trading hours.
Seaborne iron ore prices largely levelled off on Wednesday July 13 after a surge a day earlier, though Chinese ports continued to report gains.
China’s iron ore imports rose 9% year-on-year in June, an indication of the country’s continued reliance on seaborne materials.
China’s steel and steelmaking raw materials futures rose again during morning trading on Wednesday July 13, though billet prices in Tangshan were stable.
12 July 2016
Iron ore prices surged on Tuesday July 12 while international derivatives of the steelmaking raw material saw active trading following strong gains in the futures contract on the Dalian Commodity Exchange.
The physical iron ore market received a boost from surging futures and steel prices on Tuesday July 12.
China's ferrous futures continued to rise during morning trading on Tuesday July 12 as market participants digested the implications of production cuts in Tangshan this month.
11 July 2016
Iron ore exports from Brazil-based miner Vale increased by 12.33% year-on-year in May, according to figures released by the country’s iron ore association, Sinferbase, on Monday July 11.
Peruvian iron ore export volumes more than doubled in May on an annual basis, according to figures released by the country’s central bank on Friday July 8.
India’s largest private-sector steelmaker, JSW Steel, plans to secure consistent supplies of raw materials such as iron ore and coking coal by participating in the auctions of mines in the country.
Iron ore prices experienced small movements on Monday July 11, with the benchmark 62% Fe index inching closer towards $56 per tonne cfr China.
The seaborne iron ore market showed little immediate response to a latest round of government-imposed production cuts in Tangshan on Monday July 11, with prices remaining rangebound.
China’s steel and steelmaking raw materials futures rose during the morning trading session on Monday July 11 following news of steel and coke production cuts for the rest of this month.
Iron ore exports from Australia’s port of Port Hedland rose 9% on the year to a monthly high in June, according to data released by the Pilbara Ports Authority on Thursday July 7.
08 July 2016
Editor Vera Blei looks at the main news covered by Steel First over the past week.
Volatility in iron ore prices is likely to remain a feature of the market in China as spot transactions take over from annual price negotiations, according to a report released by investment bank Citi on Tuesday July 5.
Iron ore prices in the physical market edged up on Friday July 8, while derivatives traded sideways.
Seaborne iron ore prices remained relatively unchanged on Friday July 8 after dropping to the $55-per-tonne level several days earlier.
China’s steel and steelmaking raw materials futures were mixed during morning trading on Friday July 8, with rebar and coking coal contracts experiencing small gains while that for hot rolled coil headed south.
07 July 2016
Iron ore prices fell across the board in the physical market on Thursday July 7 while derivatives showed some upward movement.
The seaborne iron ore market weakened on Thursday July 7, with activity limited due to the heavy rains in Southern China.
China’s steel and steelmaking raw materials futures all went up during the morning trading session on Thursday July 7, although billet prices in Tangshan dipped a day earlier.
06 July 2016
Ratings agency Standard & Poor’s (S&P) has downgraded its global scale ratings for Brazilian pellet producer Samarco to ‘CCC’ from ‘B’, it said on Tuesday July 5.
China’s steel and steelmaking raw materials futures, apart from rebar, traded higher during morning trading on Wednesday July 6 on a steady billet market.
05 July 2016
Brazilian iron ore export volumes to China grew by 12.59% in June on an annual basis.
Peruvian mining company Shougang Hierro Perú showed an increase in its iron ore output of 34.92% in May on an annual basis.
India’s largest merchant iron ore miner, NMDC, has cut domestic lump 65% Fe iron ore prices for sales in July by Rs100 ($1.49) to Rs1,700 ($25) per wet metric tonne (wmt).
Ukraine-focused iron ore producer Ferrexpo has reported its second-quarter pellet production volumes down by 3.23% year-on-year, the company said on Tuesday July 5.
The benchmark Metal Bulletin 62% Fe Iron Ore Index retreated on Tuesday July 5 after rising above $56 per tonne cfr China on Monday, while derivatives saw trading tank in the morning before some recovery later in the day.
Trading activity dipped in the seaborne iron ore market on Tuesday July 5 after prices rose above $56 per tonne a day earlier.
Rio Tinto has shelved its $20-billion Simandou project to develop one of the world’s largest untapped high-grade iron ore resources due to an overcapacity and slumping prices in the market.
China’s steel and steelmaking raw materials futures retreated during the morning trading session on Tuesday July 5 following recent days’ gains.
04 July 2016
Most recent Chinese economic data shows that the rebalancing of the economy is clearly under way.
India’s Essar Steel achieved a 48% increase in flat steel production in the April-June quarter of 2015, it said on Monday July 4.
Samarco will appeal against the decision by Brazil’s Superior Court of Justice to suspend the ratification of a reparations deal for the Fundão tailing dam tragedy, it said on Friday July 1.
Iron ore prices rose across the board on Monday July 4, including those in the derivatives market.
Seaborne iron ore prices were driven up above the $55-per-tonne level again on Monday July 4 after a slight dip last Friday.
China’s steel and steelmaking raw materials futures, apart from that for coking coal, traded higher during morning trading on Monday July 4 despite lower domestic billet prices.
01 July 2016
Latin America editor Ana Paula Camargo reviews the main news covered by Steel First over the past week.
Brazil’s Superior Court of Justice has suspended the ratification of a reparations deal for the Fundao tailing dam tragedy agreed with pellet producer Samarco and its owners Vale and BHP Billiton.
Investment bank Goldman Sachs expects steel demand in China to increase in 2016 before falling back in 2017 and 2018, it said on Friday July 1.
Iron ore prices fell across the board on Friday July 1, while derivatives prices recovered after going down in morning trading.
Trading activity in the seaborne iron ore market slowed down on Friday July 1 after prices went beyond $55 per tonne a day earlier.
China’s steel and steelmaking raw materials futures were mixed during the morning trading session on Friday July 1 following the release of multiple sets of data, which affected sentiment in different ways.
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China’s spot rebar prices up but trading activity weakens
RT @Commoditiesshow: The steel rally is going to 'fizzle out' soon - Business Insider https://t.co/6gS0Zqmsrx
30 May- 2nd June 2016