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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 prices could rally as one leading producer remains reluctant ...
Tue, 07 Feb 2023 00:00:00 GMT
Expect exports of iron ore out of India to remain low as the worlds fourth-largest producer reserves more of the commodity for its own use, said commodity intelligence service Kpler. Indian iron ore exports have really come off in the last few months. And that is quite indicative that domestic consumption there is very strong, said Reid IAnson, Kplers senior commodity analyst, who added that this will continue throughout the year. Indias exports of iron ore plunged by 90% year on

Kyrgyzstan: miners and metallurgists ask to increase their wages
Fri, 03 Feb 2023 10:17:47 GMT
The trade union receives numerous appeals from workers of the industry enterprises on the issue of wage increase, the Chairman of the Central Committee of the Mining and Metallurgical Trade Union of Kyrgyzstan Eldar Tadzhibaev has said. The miners and metallurgists are demanding better wage conditions, namely, a two-fold increase in pay rates and

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

Ukraine: PGOK chief accountant suspected of tax evasion
Thu, 02 Feb 2023 09:55:45 GMT
The chief accountant of Poltava Mining and Processing Works is suspected of the company not paying taxes for 2 billion UAH. According to the State Security Service, in 2018-2021 the suspect entered false data into official documents of the company, in particular on the payment for the use of the iron ore deposit. During

Steel Mills Keen on Producing Post CNY Holiday with Elevated ...
Thu, 02 Feb 2023 00:00:00 GMT
According to SMM survey, the average operating rate of blast furnaces at steel mills gained 0.44 percentage point from a week ago to 91.52% as of February 1. The average capacity utilisation rate of blast furnaces was up 0.19 percentage point week-on-week to 92.57%. The daily average pig iron output of the steel mills in SMMs survey sample stood at 2.21 million mt, an increase of 4,600 mt from the previous week. SMM estimates that the daily average pig iron output across the country stood

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

Ukraine: AMKR shuts down coke-oven batteries
Mon, 30 Jan 2023 09:36:32 GMT
On October 12, 2022, ArcelorMittal Kriviy Rih shut down coke-oven batteries Nos. 1 and 2. This will help decrease pollution by 2.5 thousand tons per year. In particular, emission of ammonia, hydrogen sulfide, benzene and phenol will be decreased. (Ukrainian

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

China opening up economy to aid India steel firms
Mon, 30 Jan 2023 00:00:00 GMT
The reopening of Chinas economy, which accounts for almost a fifth of the worlds GDP, would also open up a plethora of opportunities for the Indian steel sector. With the recovery expected to be supported by consumption, Indian steel manufacturers would be able to replace China in providing the product to other nations.9/ While China would also become a market, Indian manufacturers would also scale up production to meet increasing demand. Further, a fall in energy prices including coal

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

Number of steelmaking raw material news reports: 12
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