Asia Pacific Steel Industry News. logo

Asia Pacific Steel News

Iron ore rises as Chinese steel mills resume ramping up output
Wed, 28 Sep 2022 00:00:00 GMT
Iron ore futures rose on Tuesday, with Singapore prices rebounding after two straight sessions of losses, as top steel producer China resumed ramping up output to cash in on increased construction activity during the September-October peak season. Benchmark October iron ore on the Singapore Exchange climbed 1.5% to a session high of $97.05 a tonne, while the September contract rose 0.2% to $98.60. On Chinas Dalian Commodity Exchange, the most-active January iron ore contract DCIOcv1 ended

Chinas manufacturing steel demand rebounds in August, further ...
Mon, 26 Sep 2022 00:00:00 GMT
Chinas manufacturing steel demand rebounded in August and is expected to improve further in September and October on higher seasonal manufacturing activity, but market sources told S&P Global Commodity Insights that overall volume requirements are likely to remain modest amid a weak property sector and low household consumption. Evidence of this was also seen in August, when volumes were the third lowest so far in the year despite seeing a month-on-month growth. Chinas manufacturing

Iron ore futures dip on caution ahead of Fed rate action
Thu, 22 Sep 2022 00:00:00 GMT
Ferrous futures in top steel producer and exporter China fell on Wednesday, with iron ore hitting a two-week low, as caution prevailed ahead of a widely expected interest rate hike from the U.S. Federal Reserve. The most-traded January iron ore on Chinas Dalian Commodity Exchange ended daytime trade 0.9% lower at 703.50 yuan ($99.79) a tonne, after reaching its weakest since Sept. 8 at 686.50 yuan earlier in the session. On the Singapore Exchange, the steelmaking ingredients benchmark

Iron ore, steel futures fall on China demand worries
Wed, 21 Sep 2022 00:00:00 GMT
Chinas iron ore and steel futures dipped on Tuesday, as concerns about the countrys persistent zero-COVID policy and ailing property sector keeping demand subdued outweighed news about a plan to relax the countrys border restrictions. Caution also prevailed ahead of an expected hefty interest rate hike by the U.S. Federal Reserve this week. The most-traded January iron ore on Chinas Dalian Commodity Exchange ended daytime trade 3.1% lower at 696 yuan ($99.24) a tonne. Rebar on the

Weak Profitability of Chinas Steel Sector to Stabilise at Low ...
Tue, 20 Sep 2022 00:00:00 GMT
Chinas steel sector continues to face challenges from weaker than expected demand from the property sector, further complicated by Covid-19 pandemic-related restrictions that continue to disrupt construction activity. However, Fitch Ratings does not expect further deterioration in sector profitability following production cuts in response to the weak demand, while high raw material prices should support average selling prices (ASPs), albeit at low levels. We expect the full-year performance

Iron ore edges higher as COVID curbs ease in some areas of China
Tue, 20 Sep 2022 00:00:00 GMT
Dalian and Singapore iron ore futures edged higher on Monday, supported by easing COVID-19 restrictions in some areas of China, but gains were limited by concerns over the countrys persistent zero-case policy and ailing property sector. The most-traded January iron ore on Chinas Dalian Commodity Exchange DCIOcv1 ended morning trade 0.2% higher at 717 yuan ($102.29) a tonne, off a session-high 728 yuan. On the Singapore Exchange, benchmark October iron ore was up 0.1% at $98.10 a tonne, as

Iron ore futures close lower
Mon, 19 Sep 2022 00:00:00 GMT
Iron ore futures closed lower on Friday in daytime trading at the Dalian Commodity Exchange (DCE). The most active iron ore contract for January 2023 delivery dipped 9 yuan (about 1.3 U.S. dollars) to close at 715 yuan per tonne. On Friday, the total trading volume of 12 listed iron ore futures contracts on the exchange was 874,945 lots, with a turnover of about 62.48 billion yuan. As the worlds largest importer of iron ore, China opened the DCE iron ore futures to international investors

Chinas winter output cuts may give limited boost to steel markets
Mon, 19 Sep 2022 00:00:00 GMT
China is expected to enforce winter steel output cuts in the countrys northern region as a way to reduce smog. However, these cuts to be implemented in the fourth quarter are unlikely to reduce Chinas crude steel output on a large scale, raising oversupply concerns that could weigh on steel prices in coming months, sources said. Although final details of the winter steel output cuts for 2022 remain unclear, some market sources expected them to be similar to those in 2021. Steelmakers in

Iron ore, steel futures fall on China property woes
Sat, 17 Sep 2022 00:00:00 GMT
Dalian and Singapore iron ore futures fell on Friday after data showed Chinas property sector contracted further in August, with a seasonal demand boost usually seen beginning September not yet in sight. Property investment last month in the worlds top steel producer fell at the fastest pace since December 2021, according to Reuters - calculations based on official data. New home prices fell 1.3% year-on-year, the fastest pace since August 2015. The most-traded January iron ore on Chinas

China August steel output up 3% on prior month stats bureau
Sat, 17 Sep 2022 00:00:00 GMT
Chinas crude steel output rose 3% in August compared with a month earlier, as steel mills eyeing better demand resumed operations. The worlds top steelmaker churned out 83.87 million tonnes of the metal last month, according to data from the National Bureau of Statistics on Friday, up from 81.43 million tonnes in July. Production also rose 0.5% compared with the same month a year ago, despite soaring temperatures that reduced construction activity in some areas. Augusts average daily

Chinas property sector support buoys iron ore prices
Fri, 16 Sep 2022 00:00:00 GMT
Iron ore futures rose on Thursday, with the Dalian benchmark hitting its highest in more than two weeks, buoyed by Chinas intensified efforts to support the ailing domestic property sector. Hopes that top steel producer China would ease its COVID-19 restrictions also boosted sentiment. Chengdu city said it would lift a full lockdown on Thursday in all districts still facing strict movement curbs with a recent outbreak now under control. The most-traded January iron ore on Chinas Dalian

China steel, iron ore prices dip on global macro headwinds
Thu, 15 Sep 2022 00:00:00 GMT
Chinese steel futures fell on Wednesday after hitting two-week highs in the previous session, dragging down the prices of steelmaking ingredients including iron ore as global economic headwinds added to worries about demand for ferrous metals. Concerns over a rapid rise in steel production in recent weeks amid a fragile domestic demand recovery, and the prospect of intensified COVID-19 restrictions in China also weighed on the ferrous complex. The most-traded January rebar contract on the

Number of Asia Pacific steel news reports: 12
Subscribers get access to full set of business news releases (up to 20 reports).
Click here to subscribe.

Copyright © 2001 - 2022 All rights reserved.
Asia-Pacific region iron and steel industry business news.