Coking coal rates pushing up steel prices in India: JSP MD Bimlendra ...Fri, 29 Sep 2023 00:00:00 GMT
Steel prices in India are registering an upward trend due to rapidly increasing rates of key input material coking coal, industry executive Bimlendra Jha said. Coking coal and iron ore are the two main raw materials used to manufacture steel. While iron ore is available in substantial quantity in India, steel players are bound to meet 90 per cent of their coking coal requirement through imports from countries like Australia and South Africa. Coking coal prices have increased rapidly
Rio Tinto shoulders Simandou iron ore bill as Chinese funds delayed ...Wed, 20 Sep 2023 00:00:00 GMT
Rio Tinto RIO.L, RIO.AX has been solely funding preparatory work at the blocks it holds at Simandou, one of the worlds largest untapped iron ore deposits, as its Chinese partners are yet to make their funds available, two sources close to the matter said. The Anglo-Australian miner owns two of four Simandou mining blocks as part of its Simfer joint venture with Chinas Chalco Iron Ore Holdings (CIOH) and the government of Guinea, where the mine is located. It has so far spent more than $500
Kumba forced to stockpile more iron ore as rail bottlenecks mountWed, 26 Jul 2023 00:00:00 GMT
Anglo Americans South African iron ore unit said collaboration between private investors and government could help resolve mounting rail bottlenecks which are forcing it to stockpile more iron ore at its mines. Kumba Iron Ore said those stockpiles have grown to 7.9 million tons from 7.8 million tons as of December last year, forcing the company to cut back on mining activities and reduce its sales forecast. Increased co-operation with the government through the National Logistics Crisis
Policy, finances seen hampering South African steel decarbonisationFri, 19 May 2023 00:00:00 GMT
South Africas steel industry is taking bold and determined steps to fast-track decarbonisation, but financial and policy challenges are hampering progress, says the South African Iron and Steel Institute (SAISI). The EUs implementation of the Carbon Border Adjustment Mechanism (CBAM) is meanwhile expected to have a significan't impact on South African steel exports. Around
Iron ore dips as China seeks to stop malicious price speculationTue, 10 Jan 2023 00:00:00 GMT
Dalian and Singapore iron ore futures fell on Monday after Chinas state planner vowed to ramp up efforts to regulate prices of the steelmaking ingredient and crack down on malicious price speculation. The National Development and Reform Commission is highly concerned about fluctuations in iron ore prices after noticing a recent sharp rise, it said in a statement on Friday. The most-traded May iron ore contract on Chinas Dalian Commodity Exchange DCIOcv1 ended daytime trade 2.5% lower at
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