Coronavirus news - steel industry impact.

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


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 Dalia


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


Iron ore crumbles as China COVID curbs dampen demand
Sun, 04 Sep 2022 00:00:00 GMT
Dalian iron ore fell on Friday to its weakest level in more than five weeks, while the steelmaking ingredient hit a contract low in Singapore, dragged down by mounting concerns about demand as top steel producer China battles fresh COVID-19 outbreaks. Widespread COVID-19 lockdowns and a property sector downturn in China, along with growing prospects of a global recession as central banks hike interest rates aggressively to bring down inflation, have fuelled worries about demand for metals.


Iron ore retreats as Chinas zero-COVID policy clouds demand
Sat, 30 Jul 2022 00:00:00 GMT
Iron ore futures retreated on Friday as China indicated controlling COVID-19 outbreaks was still a priority, although the steelmaking ingredient stayed on track for its steepest weekly rise since March. Iron ores most-traded September contract on the Singapore Exchange was down 3.7% at $114.30 a tonne, as of 0727 GMT, after touching its highest since June 30 at $119.90 in the previous session. On Chinas Dalian Commodity Exchange, September iron ore ended daytime trade 1.8% higher at 782


SGX iron ore falls as China stimulus optimism fades
Sat, 09 Jul 2022 00:00:00 GMT
Singapore iron ore futures fell on Friday and were set for weekly losses, with renewed optimism about economic stimulus in China quickly fading away and market focus shifting back to COVID-19 restrictions in the worlds top steel producer. Iron ores front-month August contract on the Singapore Exchange was down 1% at $112.45 a tonne, as of 0714 GMT, set to post its fourth weekly loss in five weeks. On Chinas Dalian Commodity Exchange, the most-traded September contract for the steelmaking


China policy key for iron ore outlook
Tue, 05 Jul 2022 00:00:00 GMT
Chinas covid lockdowns and recessionary risks hit iron ore Iron ore prices have fallen significantly from their year-to-date high of US$171/t seen back in March to as low as $108/t recently. Chinas attempts to squash outbreaks of Covid-19 have seen fairly tough restrictions, which have not been supportive for demand. In addition, there are growing concerns over the macro-outlook. Soaring inflation is seeing central banks, particularly the US Federal Reserve having to take a more aggressive


Iron ore leads ferrous rally as China eases COVID curbs
Wed, 29 Jun 2022 00:00:00 GMT
Iron ore climbed fresh one-week highs on Tuesday, as China easing some quarantine requirements for international arrivals and Beijing and Shanghai recording no new local COVID-19 cases sparked a broad-based rally in metals. The steelmaking ingredients front-month July contract on the Singapore Exchange was up 4.1% at $124.80 a tonne, as of 0812 GMT, after hitting the highest since June 17 at $125. On Chinas Dalian Commodity Exchange, iron ores most-traded September contract ended daytime


Iron ore trims losses ahead of China MLF rate setting
Wed, 15 Jun 2022 00:00:00 GMT
Iron ore prices edged lower on Tuesday as fresh COVID-19 outbreaks in China clouded demand prospects in the worlds top steel producer, although hopes for policy measures to support a struggling domestic economy helped trim losses. Market focus has turned to the Peoples Bank of China, which could cut the rate on its medium-term lending facility on Wednesday. The most-traded September iron ore futures contract on Chinas Dalian Commodity Exchange ended daytime trading 0.1% lower at 901.50


Iron ore slumps on fresh China lockdown worries
Sat, 11 Jun 2022 00:00:00 GMT
Iron ore prices fell on Friday, with the Singapore benchmark headed to a weekly loss on renewed concerns over demand in China, where fresh COVID-19 alerts threaten to derail the economys reopening and steel margins have come under pressure. The most-traded September iron ore contract on Chinas Dalian Commodity Exchange ended daytime trading 1.7% lower at 914.50 yuan ($136.83) a tonne. On the Singapore Exchange, the steelmaking ingredients most-active July contract dropped 1.9% to $139 a


Thiess on the move at Mount Holland
Thu, 09 Jun 2022 00:00:00 GMT
Thiess has successfully mobilised crews at Mount Holland, a greenfield lithium mine in Western Australia, while managing the ongoing challenges of COVID-19.


Dalian iron ore futures hit six-week high ahead of long weekend
Fri, 03 Jun 2022 00:00:00 GMT
Chinese iron ore futures logged their fifth session of gains on Thursday to scale more than six-week highs, as steel mills replenished inventories ahead of holidays and ramped up production as the virus-hit economy gradually recovers. Global (iron ore) shipments are relatively stable and the demand side is improving, analysts with commodities brokerage Galaxy Futures said. Galaxy Futures said steelmakers would suffer bigger losses if production gets suspended, and are still churning out



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