Steel trade, import & export news.

Iron ore falls over 2% as China continues to monitor prices
Wed, 29 Nov 2023 00:00:00 GMT
Dalian iron ore futures hit a one-week low on Tuesday as the Chinese government continued to monitor prices and intervene in the market to curb a price rally. The most-traded January iron ore on Chinas Dalian Commodity Exchange DCIOcv1 recorded its steepest decline in more than a month and fell 2.6% to 951 yuan ($132.96) per metric ton at closing. On the Singapore Exchange, the benchmark December iron ore SZZFZ3 was down 3.2% at $132.69 a ton. Borrowing a wrestling term, we are now


Singapore iron ore eases after China intensifies intervention
Tue, 28 Nov 2023 00:00:00 GMT
Singapore iron ore futures retreated on Monday as caution mounted after the worlds top consumer issued warnings on enhancing supervision on the market, and as investors awaited details from the government on property-related stimulus. The benchmark December iron ore contract on the Singapore Exchange was down 0.64% at $133 a metric ton, as of 0705 GMT. The most-traded January iron ore contract on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 0.36% higher at 980.5 yuan


EU urges US to make steel import quotas less rigid
Tue, 28 Nov 2023 00:00:00 GMT
The United States needs to make quotas for imported EU steel far less rigid, assuming they are extended beyond the end of this year, European Commission Vice President Valdis Dombrovskis said on Monday. Washington suspended import tariffs of 25% on EU steel and 10% on EU aluminium for two years from January 2022, replacing tariffs imposed by former President Donald Trump with quotas. The two sides were supposed to agree on measures to address overcapacity and promote low-carbon production,


China says boosts iron ore concentrate capacity to secure supplies
Tue, 28 Nov 2023 00:00:00 GMT
China has added 50 million metric tons of iron ore concentrate capacity from 2022, state media quoted an official at the industry association as saying on Monday, part of a plan to boost production of the key steelmaking ingredient. China, the worlds top steel manufacturer, needs to import 80% of its iron ore. It has pledged to increase domestic supply to 370 million tons by 2025 from 286 million tons in 2022. Luo Tiejun, vice chairman of the state-backed China Iron and Steel Association


Steel raw materials markets moving into Q1 with optimism on demand ...
Mon, 27 Nov 2023 00:00:00 GMT
Steel raw materials markets hoped for stronger demand and higher forward pricing cues this week, with buyers and traders converging in Dubai showing cautious optimism after a weak fourth quarter. At a Liberty Steel event Nov. 21 around a regional industry conference, iron ore suppliers, steel and ferroalloy producers and traders discussed the restart of a blast furnace at Galati in Romania a week earlier as a sign of better times for the industry. Feeding expectations of further restarts and


Iron ore gains on Chinas property debt-rejig pain
Mon, 27 Nov 2023 00:00:00 GMT
If commodity prices are anything to go by, sentiment is improving in China. The benchmark December SZZFZ3 iron ore futures contract on the Singapore Exchange is up 10% this month at $133.45 a ton on hopes Beijing will kickstart the property sector. A warning from Chinese regulators for traders on Thursday not to hype up the key ingredient for steelmaking will do little to dampen the bullish mood. Anticipating spiking demand from the worlds second largest economy, Citi analysts on Tuesday


Iron ore retreats as latest Chinese intervention weighs
Fri, 24 Nov 2023 00:00:00 GMT
Iron ore futures retreated on Thursday as intervention from authorities in top consumer China to curb the recent price rally weighed on sentiment, although prospects of improved demand capped losses. The benchmark December iron ore on the Singapore Exchange fell 1.46% to $132.7 a ton after scaling a nine-month high a day before. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trade0.86% lower at 976.5 yuan ($135.42) a metric ton, after drawing closer


Singapore iron ore at 8-month high on China support for property ...
Wed, 22 Nov 2023 00:00:00 GMT
Iron ore futures rose for a second session on Tuesday, with the Singapore benchmark hitting an eight-month high, as sentiment was boosted by Beijings latest support for the property sector and concerns lingered over possible supply disruptions. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 1.93% higher at 978.5 yuan ($135.69) a metric ton, the highest since Nov. 15. The benchmark December iron ore on the Singapore Exchange rose 1.34% to


Iron ore rebounds on improving risk sentiment, supply concerns
Tue, 21 Nov 2023 00:00:00 GMT
Iron ore futures rebounded on Monday as risk-off sentiment hurt by Chinese intervention last week eased, while low inventories amid rising stockpiling needs, improving steel margins and concerns over supply disruptions helped the market. The benchmark December iron ore on the Singapore Exchange climbed 1.98% to $131.05 a metric ton, as of 0702 GMT. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) ended daytime trading 0.47% higher at 968 yuan ($134.24) a ton after


Green iron and steel offer MENA a chance to shine
Fri, 17 Nov 2023 00:00:00 GMT
Executive Summary The Middle East and North Africa (MENA) region has a significan't opportunity to marry its direct reduced iron (DRI)-based steelmaking leadership with its green hydrogen potential. This could place MENA as a global leader in green steel and the emerging green iron trade. The region is well situated to supply the key steel growth market of India and green steel demand centres like Europe. The steel technology transition is accelerating, and steelmakers are already starting to


Dalian iron ore falls as China steps in to tame prices
Fri, 17 Nov 2023 00:00:00 GMT
Dalian iron ore futures fell on Thursday, as Chinese authorities intervened to control soaring prices and weak property data fuelled concerns about demand from the key steel-consuming sector. The most-traded January iron ore on Chinas Dalian Commodity Exchange (DCE) closed 1.5% lower at956 yuan ($131.77) per metric ton, after rising 1% in the previous session. On the Singapore Exchange, the benchmark December iron ore edged up0.1% at $130.04 a ton. The recent sentiment-driven surge in iron


Ukraine steel output decreases 11.7% in Jan-Oct y/y union
Fri, 10 Nov 2023 00:00:00 GMT
Ukraine produced 5.16 million metric tons of steel in the first ten months of 2023, an 11.7% fall from the same period in 2022, data released by the steel producers union showed. The decline in production followed Russias invasion on Feb. 24, 2022, and the destruction of leading steel plants in fighting since then. Russia calls its actions in Ukraine a special military operation. Ukraine was a major steel producer and exporter before the invasion. In 2022, steel output decreased by 70.7%



Number of steel trade news reports: 12
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