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As Indian steel production takes off, its metallurgical coal ...
Tue, 03 Oct 2023 00:00:00 GMT
A new report by IEEFA India and JMK Research and Analytics demonstrates why Australian metallurgical coal miners shouldnt get overexcited by the outlook for exports to the subcontinent. India is seen by coal miners as the key future export destination, with steel demand set for significan't growth as Chinese demand enters permanent decline. Much of Indias planned increase in steel making capacity is based on coal-consuming blast furnaces. But Indias energy security concerns will steer it

Ukraine: PGOK board chairman arrested
Fri, 29 Sep 2023 09:24:00 GMT
Pecherskiy Court of Kyiv has arrested Victor Lotous, Poltava Mining and Processing Works board chairman, with an alternative of a bail of UAH 999.991 million. PGOK belongs to Konstantin Zhevago. A claim has also been sent to extract Zhevago from France. According to investigation, the enterprise was selling crushed stone made of ferruginous quartzites

Ukraine: Russia strikes Avdiivka Coke
Fri, 29 Sep 2023 09:23:33 GMT
Russian occupiers have hit Avdiivka Coke and Chemical Works with aviation bombs. According to Musa Magomedov, ex-director of the plant and a people's deputy, the bombs hit scrubbers of the recovery shop, which caught fire. Magomedov warned that Russians would lie again saying that they hit ammunition, which the plant never had on its

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

Iron ore climbs as better-than-expected China data lifts sentiment
Thu, 28 Sep 2023 00:00:00 GMT
Iron ore futures rebounded on Wednesday, as better-than-expected industrial profits data in top consumer China buoyed sentiment, although lingering demand concerns amid persistent weakness in the countrys crisis-hit property market curbed gains. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 0.59% higher at 846.5 yuan ($115.89) a metric ton. The benchmark October iron ore SZZFV3 on the Singapore Exchange rose 0.82% to $115.95 a ton at 0701

Iron ore clouded further by weak demand outlook
Wed, 27 Sep 2023 00:00:00 GMT
Iron ore futures extended declines on Tuesday, as investors booked profits ahead of upcoming holidays in China and demandconcerns grew amid slowing restocking and loomingsteel production cuts in the worlds second-largest economy. The most-traded January iron ore contract on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 1.64% at 841 yuan ($115.04) a metric ton, after a 2%decline on Monday. Markets in top steel producer China will be closed for holidays during Sept. 29-Oct. 6.

Steel margins may better in short term; coking coal price hike ...
Tue, 26 Sep 2023 00:00:00 GMT
Brokerage house Kotak Institutional Equities expects short-term margin gains for steel companies in the second quarter of FY24 on the back of lower raw material costs. It, however, cautioned a rise in cost of coking coal will hit the margins from the end of third quarter this fiscal, which calls for a further hike in steel prices to maintain profitability. During the quarter, domestic HRC and rebar prices surged 4 percent and 10 percent, driven by increased demand in construction and

Robust exports, stable domestic demand keep Chinas steel production ...
Tue, 26 Sep 2023 00:00:00 GMT
Robust steel exports from China have emerged as a major driver supporting steel production at a time when demand activity from the countrys largest steel consumer the property sector has remained muted for the most part of this year. Besides exports, a decent demand push from Chinas infrastructure and manufacturing sectors has also contributed in keeping steel production at elevated levels in the country, market sources said. Strong exports support production During January-August,

Iron ore hits 2-week low on weak demand, possible steel output ...
Tue, 26 Sep 2023 00:00:00 GMT
Iron ore futures fell on Monday, as traders were worried about weaker-than-expected steel consumption in the peak construction season and possible steel output curbs during winter in top consumer China, and as pre-holiday restocking came to an end. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 2.03% lower at 844.5 yuan ($115.55) a metric ton, the weakest since Sept. 11. The benchmark October iron ore on the Singapore Exchange was down 4.23%

BHP celebrates delivery of three billion tonnes of iron ore to ...
Thu, 21 Sep 2023 00:00:00 GMT
BHP has officially celebrated the shipment of three billion tonnes of high-quality iron ore to China, hosting key customer representatives on a tour of BHPs Pilbara and Port Hedland operations in Western Australia, and at a gala event in Perth. BHP Chief Commercial Officer Vandita Pant and Asset President WA Iron Ore Brandon Craig were joined by China Iron and Steel Association Vice Chairman Luo Tiejun and key customer representatives at the Mining Area C and South Flank mine sites in the

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

Iron ore extends decline on higher domestic supply, demand concerns
Wed, 20 Sep 2023 00:00:00 GMT
Iron ore futures extended declines on Tuesday as mounting domestic supply and persistent demand concerns amid a lingering property slump dampened investor sentiment. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trading0.69% lower at 862.5 yuan ($118.19) a metric ton, after falling 0.2% on Monday. The benchmark October iron ore SZZFV3 on the Singapore Exchange fell 0.87% to $120.7 aton as of 0655 GMT, recouping some losses from earlier the session

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