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China is virtually certain to meet its objective of keeping crude steel production to below 2020 levels, after producing just 2.31Mt per day in November. Output fell to 69.3Mt, the sixth consecutive monthly fall and ~20% below the same month in 2020. However, futures trading was up today amid ...
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Non-ferrous Metals Precious metals China's iron ore imports hit 13-month high in November China imported about 105 million tonnes of iron ore in November 2021, up by 7% year on year and 15% higher than in October, according to the latest Chinese customs data. The last time import volumes were at this level was October 2020.
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2 Has China steel peaked? The burning question for iron ore prices is whether steel demand has peaked in China. In 2020, Chinese steel mills defied the bearish notes played by the early days of the pandemic, powering through the second half of the year to produce a record 1.065Bt of crude steel.
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During 2021, another 26 Chinese steelmakers were recognized by the China Iron & Steel Association (CISA) as meeting 'ultra-low' emission standards, a key component in the country's drive towards clean and low-carbon steelmaking. This took the total number of mills meeting the tough standards to date to 34, according to a posting in the CISA website.
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(Bloomberg) -- Iron ore futures in Singapore jumped nearly 10% as optimism over a bout of restocking by China's steel mills added to tailwinds from the risk-on mood in global markets.Most Read from BloombergChina Cash Flowed Through Congo Bank to Former President's CroniesAn Arab City's Booming Art Scene Is Also a Grab at Soft PowerBillionaire …
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23 The most-active iron ore for May delivery on China's Dalian Commodity Exchange climbed by up to 4% to 716 yuan ($112.32) a tonne, its highest since Dec. 27. On the Singapore Exchange, iron ore's most-traded contract expiring by end-February rose as much as 2.1% to $126.85 a tonne, its strongest since Dec. 24.
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The iron ore products that Chinese steelmakers prefer these days differ according to region, with mills in North China tending to want slightly more medium- to higher Fe grade iron ore products, while in other areas, lower- to medium Fe grade products are still the makers' first choice, Mysteel Global learned on Friday.
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Iron ore on the Singapore Exchange sank as much as 11% to $187.10 a ton, before trading at $194.30 by 2:19 p.m. local time. Prices had touched a record $233.75 on Wednesday. Futures in Dalian closed 3.6% lower, extending Thursday's 9% decline. "Prices have already reached a peak level from a medium- and long-term perspective," Huatai ...
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Iron ore has had a wild year as a first-half demand boom was quashed by China's squeeze on real estate finances that drove a fall in construction activity, as well as a government push to curb pollution and emissions. Steel output slid to the lowest since 2017 in October, and Singapore futures plumbed an 18-month low earlier in November.
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On the Singapore Exchange, iron ore's front-month December contract rose as much as 3.4% to $89.20 a tonne after a two-day fall. Benchmark 62%-grade iron ore's spot price in China was $90 a tonne on Thursday for a fifth time this month. The price is the weakest in 18 months and off 61% from a record peak scaled in mid-May.
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Iron Ore Surges as China's Steel Mills Prepare to Restock. (Bloomberg) -- Iron ore futures in Singapore jumped nearly 10% as optimism over a bout of restocking by China's steel mills added to tailwinds from the risk-on mood in global markets. Prices rebounded from Friday's pandemic-driven losses alongside a rally across commodities from ...
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