Iron ore falls over 2% as China continues to monitor pricesWed, 29 Nov 2023 00:00:00 GMTDalian 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
https://www.hellenicshippingnews.com/iron-ore-falls-over-2-as-china-continues-to-monitor-prices/
Singapore iron ore eases after China intensifies interventionTue, 28 Nov 2023 00:00:00 GMTSingapore 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
https://www.hellenicshippingnews.com/singapore-iron-ore-eases-after-china-intensifies-intervention/
EU urges US to make steel import quotas less rigidTue, 28 Nov 2023 00:00:00 GMTThe 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,
https://www.hellenicshippingnews.com/eu-urges-us-to-make-steel-import-quotas-less-rigid/
China says boosts iron ore concentrate capacity to secure suppliesTue, 28 Nov 2023 00:00:00 GMTChina 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
https://www.hellenicshippingnews.com/china-says-boosts-iron-ore-concentrate-capacity-to-secure-supplies/
Steel raw materials markets moving into Q1 with optimism on demand ...Mon, 27 Nov 2023 00:00:00 GMTSteel 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
https://www.hellenicshippingnews.com/steel-raw-materials-markets-moving-into-q1-with-optimism-on-demand-pricing-increases/
Iron ore gains on Chinas property debt-rejig painMon, 27 Nov 2023 00:00:00 GMTIf 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
https://www.hellenicshippingnews.com/iron-ore-gains-on-chinas-property-debt-rejig-pain/
Iron ore retreats as latest Chinese intervention weighsFri, 24 Nov 2023 00:00:00 GMTIron 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
https://www.hellenicshippingnews.com/iron-ore-retreats-as-latest-chinese-intervention-weighs/
Singapore iron ore at 8-month high on China support for property ...Wed, 22 Nov 2023 00:00:00 GMTIron 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
https://www.hellenicshippingnews.com/singapore-iron-ore-at-8-month-high-on-china-support-for-property-sector/
Iron ore rebounds on improving risk sentiment, supply concernsTue, 21 Nov 2023 00:00:00 GMTIron 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
https://www.hellenicshippingnews.com/iron-ore-rebounds-on-improving-risk-sentiment-supply-concerns/
Green iron and steel offer MENA a chance to shineFri, 17 Nov 2023 00:00:00 GMTExecutive 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
https://www.hellenicshippingnews.com/green-iron-and-steel-offer-mena-a-chance-to-shine/
Dalian iron ore falls as China steps in to tame pricesFri, 17 Nov 2023 00:00:00 GMTDalian 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
https://www.hellenicshippingnews.com/dalian-iron-ore-falls-as-china-steps-in-to-tame-prices/
Ukraine steel output decreases 11.7% in Jan-Oct y/y unionFri, 10 Nov 2023 00:00:00 GMTUkraine 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%
https://www.hellenicshippingnews.com/ukraine-steel-output-decreases-11-7-in-jan-oct-y-y-union/
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