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Kazakhstan: Kazakhmys suspends all mines operation
Wed, 29 Nov 2023 10:35:47 GMT
On November 27, the management of the Kazakhmys Group of Companies decided to suspend all mining works following an accident at the Chzhaisan mine, when 2 miners perished. Checks will be carried out at mines headed by chief engineers. Additional payment will be made to the miners who will stay idle during checks. (Ukrainian
https://metalukraine.com/2023/11/29/kazakhstan-kazakhmys-suspends-all-mines-operation.html


Iron ore poised to hit $150 in 2024 on Chinese stimulus, analysts ...
Wed, 29 Nov 2023 00:00:00 GMT
Seaborne iron ore prices are set to climb to as much as $150 per ton in the first half of 2024, according to analysts who have lifted their estimates on expectations of increased demand in China after recent stimulus measures. The price outlook compares with earlier estimates of $130 per ton, and Mondays level of $135 per ton. It is, however, still far below the record $232.5 a ton reached in May 2021, according to data from consultancy Steelhome. Iron ore has rallied in recent weeks after
https://www.hellenicshippingnews.com/iron-ore-poised-to-hit-150-in-2024-on-chinese-stimulus-analysts-say/


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
https://www.hellenicshippingnews.com/iron-ore-falls-over-2-as-china-continues-to-monitor-prices/


China takes aim at illegal activities in the iron ore market
Wed, 29 Nov 2023 00:00:00 GMT
The price of iron ore fell 1.2 per cent on Monday morning, to 104.67 ($132.20) per tonne, bringing to a halt five weeks of gains after Chinese officials warned the country may intervene in the market. The National Development and Reform Commission (NDRC) said on Friday it had met with major port operators to discuss iron ore inventory and storage. The NDRC has also cautioned against hype and illegal activities in the iron ore market. Beijing is looking to curb rising iron ore prices amid
https://www.hellenicshippingnews.com/china-takes-aim-at-illegal-activities-in-the-iron-ore-market/


The FabricationandMetals Industries' Leadership Conference
Tue, 28 Nov 2023 08:07:00 GMT
Participate alongside numerous executives and leaders representing fabricators, manufacturers, steel producers, distributors, service centers, and suppliers in Clearwater from February 27-29. Seize the chance to reestablish connections with strategic partners and cultivate new relationships
https://www.thefabricator.com/thefabricator/event/shopmanagement/the-fabrication-metals-industries-leadership-conference


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
https://www.hellenicshippingnews.com/singapore-iron-ore-eases-after-china-intensifies-intervention/


Iran produces over 25 mn tons of crude steel in 10 month
Tue, 28 Nov 2023 00:00:00 GMT
In its latest report, the World Steel Association said the major steel production companies in the world produced more than 1.5 billion tons of crude steel from January to October 2023, showing a 0.2 percent hike compared to last years corresponding period. According to the report, Iran managed to retain its 10th rank among the worlds major steel producers in steel production terms. The 71 giant steel producers in the world produced 150 million tons of crude steel in October 2023,
https://www.hellenicshippingnews.com/iran-produces-over-25-mn-tons-of-crude-steel-in-10-month/


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,
https://www.hellenicshippingnews.com/eu-urges-us-to-make-steel-import-quotas-less-rigid/


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
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 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
https://www.hellenicshippingnews.com/steel-raw-materials-markets-moving-into-q1-with-optimism-on-demand-pricing-increases/


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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


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


Kumba forced to stockpile more iron ore as rail bottlenecks mount
Wed, 26 Jul 2023 00:00:00 GMT
Anglo Americans South African iron ore unit said collaboration between private investors and government could help resolve mounting rail bottlenecks which are forcing it to stockpile more iron ore at its mines. Kumba Iron Ore said those stockpiles have grown to 7.9 million tons from 7.8 million tons as of December last year, forcing the company to cut back on mining activities and reduce its sales forecast. Increased co-operation with the government through the National Logistics Crisis




Middle East Media Releases



Iran produces over 25 mn tons of crude steel in 10 month
Tue, 28 Nov 2023 00:00:00 GMT
In its latest report, the World Steel Association said the major steel production companies in the world produced more than 1.5 billion tons of crude steel from January to October 2023, showing a 0.2 percent hike compared to last years corresponding period. According to the report, Iran managed to retain its 10th rank among the worlds major steel producers in steel production terms. The 71 giant steel producers in the world produced 150 million tons of crude steel in October 2023,


Irans Steel production stood at 56.5m tons in H1
Fri, 27 Oct 2023 00:00:00 GMT
Production of steel in Iran stood at 56.5 million tons in the first half of the current Iranian calendar year (March 21-September 22), the Iranian Steel Producers Association (ISPA) announced. As previously announced by an official with the ISPA, production of steel in the country increased by 8.5 percent in the previous Iranian calendar year 1401 (ended on March 20), as compared to the preceding year. According to Vahid Yaghoubi, the countrys steel production reached 30.4 million tons in


Iron ore extends rebound on China stimulus bets
Fri, 13 Oct 2023 00:00:00 GMT
Iron ore futures rose for a second straight session on Thursday as investors weighed prospects of additional measures to shore up Chinas flagging economy against domestic steel production cuts and uncertainty about the countrys property sector. Fresh stimulus hopes for the worlds second-biggest economy and top metals consumer have provided support for iron ore after prices hit six-week lows earlier this week, dragged partly by worries about a debt crisis engulfing many Chinese property




CIS Industry Headlines



Kazakhstan: Kazakhmys suspends all mines operation
Wed, 29 Nov 2023 10:35:47 GMT
On November 27, the management of the Kazakhmys Group of Companies decided to suspend all mining works following an accident at the Chzhaisan mine, when 2 miners perished. Checks will be carried out at mines headed by chief engineers. Additional payment will be made to the miners who will stay idle during checks. (Ukrainian


Metinvests Azovstal. A Symbol of Perseverance project receives ...
Tue, 28 Nov 2023 11:00:00 GMT
On 24 November 2023, the Effie Awards Ukraine, part of an international network recognising achievements in advertising and marketing communications, announced the countrys winning agencies and projects for 2023. The grand prize was awarded to Azovstal. A Symbol of Perseverance, a project created by Gres Todorchuk agency for the UNITED24 fundraising platform and Metinvest


Metinvest HR Analytics Projects Receives Award at HR Pro Awards
Fri, 24 Nov 2023 14:15:17 GMT
Metinvest Group's project How HR analytics helps at times of war emerged as the winner in the HR Analytics category, while the Saving Lives humanitarian initiative made it to the finals in the Sustainability and Charity category. The HR Pro Awards 2023 ceremony took place on 23 November in







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