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Japans JFE Holdings cuts full-year steel output, profit estimates
Tue, 07 Feb 2023 00:00:00 GMT
Japans second-biggest steelmaker JFE Holdings Inc 5411.T lowered its forecasts for crude steel output and full-year profit on Monday, blaming slack overseas prices and weak demand at home. We have been facing a tough environment since last quarter with slow activity in Japan and delays in recovery in overseas markets, JFE Holdings Executive Vice President Masashi Terahata told a news conference. Given weaker demand, JFE slashed its crude steel output plans to 24 million tonnes for the

Iron ore volatile as traders temper China demand optimism
Tue, 07 Feb 2023 00:00:00 GMT
Singapore iron ore futures fell on Monday to their lowest in nearly three weeks, while Dalian prices see-sawed, as traders curbed their optimism about demand prospects in top steel producer China. Iron ores benchmark March contract on the Singapore Exchange was down 1.2% at $123.40 a tonne, as of 0746 GMT. Earlier in the day it hit its weakest since Jan. 18 at $121.15, and on Friday marked its first weekly loss this year. On Chinas Dalian Commodity Exchange, the steelmaking ingredients

Iron ore hits 2-week low as China rally fizzles out
Fri, 03 Feb 2023 00:00:00 GMT
Iron ore futures fell to a two-week low on Thursday as traders reassessed demand prospects in key consumer China, despite expectations for more policy stimulus to support the countrys economic rebound. Iron ore and steel prices in China hit multi-month highs in January as markets rallied from early November on the back of Beijings stepped-up policy support for its ailing property sector and dismantling of strict COVID-19 curbs. The steelmaking ingredient has risen more than 9% this year on

Governor rejects proposed Ford EV battery plant in Virginia
Wed, 01 Feb 2023 12:25:00 GMT
Virginia Gov. Glenn Youngkin has rejected Ford Motor Co.s proposed electric vehicle battery plant in that state, citing his objection to the involvement of Chinese battery maker Contemporary Amperex Technology Co.

Iron ore dips as traders weigh China demand
Wed, 01 Feb 2023 00:00:00 GMT
Iron ore futures fell on Tuesday, with the Dalian benchmark price pulling back from the previous sessions contract high, as traders assessed demand in top steel producer China while also keeping an eye on regulatory risks. The steelmaking ingredient, however, was on track for a 2% monthly gain in the Dalian Commodity Exchange. It has risen 11% on the Singapore Exchange this month, in a rally driven by improved demand prospects after China dismantled strict COVID curbs. The so-called China

Iron ore extends rally on China demand optimism
Tue, 31 Jan 2023 00:00:00 GMT
Dalian iron ore futures extended gains after a week-long Lunar New year holiday in China, climbing more than 3% to a contract high on Monday, on optimism around demand prospects for the worlds top steel producer. The most-traded May iron ore contract on Chinas Dalian Commodity Exchange ended daytime trade 2% higher at 873.50 yuan ($129.40) a tonne, after earlier hitting a contract-high 890 yuan. On the Singapore Exchange, the steelmaking ingredients benchmark March contract was up 1.1% at

Fortescues Iron Bridge to begin production this quarter; Q2 shipments ...
Mon, 30 Jan 2023 00:00:00 GMT
Australias Fortescue Metals Group FMG.AX on Friday confirmed its Iron Bridge Magnetite project was on track to begin production at the end of the March quarter, realising a key strategy to secure better prices for its ore. Fortescue, run by billionaire and iron ore magnate Andrew Forrest, posted a 4% rise in quarterly shipments, underpinned by strength across its key Western Australia iron ore operations. The Iron Bridge project in Western Australias Pilbara region will allow Fortescue to

Plug Power scraps electrolyser plant partnership with Fortescue
Fri, 27 Jan 2023 00:07:31 GMT
Plug Power has walked away from building an electrolyser manufacturing plant in Australia with Fortescue Metals Group as the economics did not work, Plug Chief Executive Officer Andrew Marsh said on Thursday. The project, announced in October 2021, was to be a key plank in Fortescue's transition toward becoming a major green energy company through its Fortescue Future Industries arm. Fortescue announced plans with Plug Power in October 2021 to build the world's biggest factory to make electrolysers and held a sod-turning at the site in Gladstone in Australia's northeast last February aiming to produce their first electrolyser in

Chinas daily crude steel output up in early January
Fri, 27 Jan 2023 00:00:00 GMT
Chinas major steel mills saw their average daily output of crude steel grow 0.51 percent in early January from that recorded in late December 2022, industrial data showed. The daily crude steel output stood at 1.93 million tonnes in early January, according to the China Iron and Steel Association. Major steel producers churned out a total of 19.26 million tonnes of crude steel in the period, the data showed. During this period, daily production of pig iron went down 0.4 percent, while that

Nippon Steel & Sumitomo Metal Corporation - Press Release
Thu, 26 Jan 2023 10:40:43 GMT
Sumarry of Q&A: Tender Offer for Shares of Nippon Steel Trading

Japan 2022 crude steel output falls 7.4% amid slow car production
Tue, 24 Jan 2023 00:00:00 GMT
Crude steel output in Japan, the worlds third-biggest producer, fell 7.4% in 2022 from the previous year due to a slow recovery in automobile production and weaker export demand amid a slowdown in the global economy. Output dropped for the first time in two years to 89.23 million tonnes, figures from the Japan Iron and Steel Federation showed on Monday. During the COVID-19 pandemic, Japans Toyota Motor Corp 7203.T fared better than most car makers in managing supply chains, but it fell

Iron ore price rally justified as Chinas January imports surge
Tue, 24 Jan 2023 00:00:00 GMT
The price of spot iron ore has been one of the major beneficiaries of expectations of strong demand as China re-opens its economy after abandoning its strict zero-COVID policy. While other commodities, such as crude oil and copper, have also enjoyed recent gains on the back of the China recovery narrative, iron ores rally seems grounded in actual gains in demand. The spot price of benchmark 62% iron ore MTIOQIN62=ARG, as assessed by commodity price reporting agency Argus, ended at $126 a

Number of Asia Pacific steel news reports: 12
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