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Iron ore extends rally as China stimulus hopes persist
Fri, 09 Jun 2023 00:00:00 GMT
Iron ore futures climbed on Thursday, with the Dalian benchmark hitting a fresh seven-week high, while prices in Singapore rose for a seventh straight session, as Chinas big banks cut deposit rates in a move seen as supportive of economic growth. Chinas state-backed banks lowered the rates on yuan deposits in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy. Analysts say the move opens the door for

Domestic Iron Ore Prices In China Showed V-Shaped Pattern In ...
Thu, 08 Jun 2023 00:00:00 GMT
In May, the average price index of domestic iron ore dropped by 65 yuan/mt, showing a trend of falling at first and then rebounding. In early May, steel mills purchased iron ore as needed and kept raw material stocks at low levels due to poor profits. Steel mills lowered iron ore purchase prices. In mid-to-late May, some steel mills restarted blast furnaces as falling coke prices improved their profits, boosting iron ore demand and prices. Source:

China: Imported Iron Ore Prices To Go Down In June As Supply-Demand ...
Thu, 08 Jun 2023 00:00:00 GMT
In June, overseas mines will step up shipments whereas domestic pig iron output is likely to fall, which will exacerbate supply-demand imbalance. Market players should keep an eye on domestic policies, steel mills profits and changes in market expectations. It is expected that imported iron ore prices will go down in June. Source:

Iron ore scales 7-week peak on China property stimulus hopes
Wed, 07 Jun 2023 00:00:00 GMT
Iron ore futures rose on Tuesday to their highest levels in about seven weeks, as hopes grew for more property sector-focused stimulus measures in top steel producer China. Steel benchmarks and other steelmaking ingredients in China also advanced as real estate stocks listed in Hong Kong jumped nearly 8% on hopes that Beijing would soon roll out supportive measures to bolster the embattled property sector. The most-traded September iron ore on Chinas Dalian Commodity Exchange ended morning

Metinvest eyes Europe DRI supply opportunity
Mon, 05 Jun 2023 00:00:00 GMT
Metinvest believes direct reduced iron supply is a new opportunity for Ukraines steel sector, given the development of a green steel market in Europe, says the companys chief executive, Yuriy Ryzhenkov. The fact that Metinvest is able to produce DRI products and can increase its volume opens up new European markets for us, he

Iron ore climbs on China demand hopes, stimulus chatter
Sat, 03 Jun 2023 00:00:00 GMT
Dalian iron ore rose on Friday to a six-week peak, while the steelmaking ingredients benchmark price in Singapore hit the highest in two weeks, extending a rally spurred by surprise growth in Chinas factory activity in May. Iron ore also headed for sharp weekly gains, as market commentators continued to speculate about top steel producer China rolling out additional stimulus to support an uneven and fragile post-COVID economic recovery. The most-traded September iron ore on Chinas Dalian

Carbon-neutral green steel price premiums likely to be linked ...
Sat, 03 Jun 2023 00:00:00 GMT
Green steel price premiums are likely to be linked to carbon market prices, participants in a webinar on prospects for the green steel market organized by the Brazilian Association of Metallurgy, Materials and Mining (ABM) said May 31. Price premiums paid in the future for green steel products should help finance steelworks installations of new technologies to be able to produce that carbon-neutral green steel. However, government financing or subsidies for instance to help cover the

Iron ore at two-week high on stimulus hope, supply disruption ...
Fri, 02 Jun 2023 00:00:00 GMT
Dalian and Singapore iron ore futures hit their highest in two weeks on Thursday as sentiment improved on the prospects of Chinese stimulus policies to revive the economy, better-than-expected factory activity data and supply disruption worries. Weak manufacturing data has raised expectations of policy support for industry, analysts at investment bank ANZ said in a morning note. The official manufacturing purchasing managers index (PMI) released on Wednesday fell to a five-month low of

Dalian iron ore at one-week high on stimulus hope
Tue, 30 May 2023 00:00:00 GMT
Dalian iron ore futures extended gains on Monday to touch their highest in a week, as investor sentiment was bolstered by expectations of new stimulus policies following the release of weak industrial profit data on Saturday. Profits at Chinas industrial firms fell 20.6% in January-April from a year earlier, data from the National Bureau of Statistics (NBS) showed, as companies struggled with margin pressures and soft demand amid a faltering economic recovery. Expectations of more economic

China: Domestic Iron Ore Prices Diverged Last Week, But Are Likely ...
Tue, 30 May 2023 00:00:00 GMT
Weekly iron ore price review: Hebei: down 10-15 yuan/mt in Tangshan, Qianxi, and Qianan; western Liaoning: down 10-15 yuan/mt in Chaoyang, Beipiao and Jianping; east China: up 20-30 yuan/mt. Tangshan: Sharp decline in imported iron ore prices enabled local major steel mills to lower bid prices. Yet, bid prices were cut only slightly due to tight supply. In view of bearish imported ore market, local iron ore prices may inch lower this week. Western Liaoning: Most mines and dressing plants

Iron ore set for weekly fall on faltering China demand
Sat, 27 May 2023 00:00:00 GMT
Iron ore futures remained on track for weekly losses despite their rebound on Friday, pressured by darkening demand outlook in top steel producer China due to a seasonal slowdown in construction. The steelmaking ingredients benchmark June contract on Singapore Exchange SZZFM3 was up 4% at $99.55 a tonne by 0700 GMT. It dropped 1.8% to $94 earlier in the day, hitting its weakest since November, and has fallen more than 5% from last week. The most-traded September iron ore on Chinas Dalian

Iron ore sinks deeper as China summer lull in steel demand looms
Fri, 26 May 2023 00:00:00 GMT
Dalian iron ore futures slid to the lowest in nearly six months on Thursday on expectations that Chinas demand for the steelmaking ingredient will remain sluggish during the typical summer lull in domestic construction activity. Iron ores benchmark price in Singapore, however, somewhat stabilized after a five-session selloff, suggesting near-term prices may have bottomed out. The most-traded September iron ore on Chinas Dalian Commodity Exchange ended daytime trading 2.2% lower at 681

Number of steelmaking raw material news reports: 12
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