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Over July-September, Vale's iron ore fines production rose 18.1% on quarter and 0.8% on year to around 89.4 million tonnes mainly due to its production recovery plans and better weather, and encouraged by this, the world's largest iron ore miner has decided to maintain its 2021 production guidance at 315-335 million tonnes, Mysteel Global noted from its latest quarterly report released on October 19.
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Vale's production and sales summary up until Sept (Unit: '000 tonnes)
Notes:
(1) Including third-party purchases, run-of-mine and feed for pelletizing plants.
(2) Including third-party purchases, run-of-mine and feed for pelletizing plants.
(3) Historical figures exclude VNC sales.
Source: Vale, released on October 19 (Brazilian time)
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Over July-September, Australian mining giant
BHP's metallurgical coal production in Queensland, Northeast Australian, slid 8.7%
on year or 25.1% on quarter to 8.9 million tonnes on the company's actual share,
affected by the planned maintenance works at the company's coal mines,
according to its quarterly report released on October 19.
Last quarter, BHP adopted wash
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Over the July-September quarter, BHP’s iron ore output from its Pilbara operations in Western Australia fell 5% on year to 70.6 million wet tonnes, though it has maintained its iron ore production guidance for FY22 (July 2021-June 2022) at 278-288 million wet tonnes, with both the volumes on a 100% basis, according to the company’s latest quarterly report released on October 19.
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BHP'sProduction by Product overJuly-September
Note: All guidance is subject to further potential impacts from
COVID-19 during the 2022 financial year.
Source: BHP, released on October 19
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Over October 11-15, Japan’s domestically-generated H2 scrap prices strengthened for the fifth week by another Yen 500-2,000/tonne ($4.4-17.5/t) for domestic sales, or up a total of Yen 6,500-8,000/t since mid-September mainly due to supply tightness though negotiations for exports had remained stalled.
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China Steel Corp (CSC), the largest steel mill headquartered in South Taiwan's Kaohsiung, has decided to roll over its steel list prices for sales in November, given the expectation for firm demand this quarter and the challenges its downstream customers face, according to the company's monthly pricing policy released on October 15.
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Rio Tinto's mined copper output for Q3 2021 recovered by 8% on quarter to reach 125,200 tonnes (actual share basis), though the volume was still 3% lower on year, the company said on October 15 in its Q3 quarterly report. It said the prolonged impact of COVID-19 had led to lower recoveries and throughput at its core mining base, Escondida in North Chile.
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Rio Tinto, the world's second largest iron ore producers after Vale, has cut its Pilbara iron ore shipment guidance for the calendar year of 2021 to 320-325 million tonnes from the original 325-340 million tonnes, as the tight labour market in Western Australia has delayed some operations, according to its latest quarterly report released on October 15.
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Sydney, Shanghai 14 October 2021 – FEX
Global Australia and Mysteel today announced the signing of an agreement
whereby FEX Global will seek to settle certain FEX benchmark contracts against
the Mysteel IOSCO compliant price assessments, subject to regulatory approvals.
Brian Price, FEX Global Executive
Director, said “Mysteel has been assessing prices in the
domestic Chinese
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The volume of carbon steel sold by China Steel Corp (CSC), Taiwan’s top integrated steel producer headquartered in Kaohsiung, South Taiwan, slipped for the fourth month in September, declining by another 32,129 tonnes or 4.1% on month to 748,647 tonnes and refreshing the lowest since March, the company announced on October 12.
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Shagang Group (Shagang), a leading electric-arc-furnace (EAF) steelmaker in China, has raised its steel scrap procurement price by Yuan 100/tonne ($15.5/t) effective October 12, the first increment this month or less than a month since the last price rise on September 27, intending to attract more deliveries to its steelworks on noting the firm demand from the other rivals in China too, market sources commented on Tuesday.
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Japan’s H2 grade scrap prices surged over October 4-8, jumping by another Yen 4,000/tonne ($36/t) for domestic sales and making for a four-week total rise of Yen 5,500-7,000/t, Mysteel Global has learned. Market sources attributed the further jump to scrap supply tightness at a time when export negotiations remain stalled.
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Citing the ongoing shortages of supply, Shagang Group, China’s largest privately-owned steel producer in terms of capacity, is hiking the list prices of its long steel products by another Yuan 100-150/tonne ($15.5-23.3/t) for sales over October 11-20, it announced to its sales agents on October 11.
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BHP celebrated the official opening of its new 80 million tonnes/year South Flank mine in Pilbara, Western Australia on October 7, according to a company post on the very day, though the first production was already out in May, as per schedule.
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As of October 8, steel scrap price for domestic sales in Japan’s Kanto region around Tokyo jumped Yen 3,000/tonne ($27/t) on week with the supply constraint, which, to some extent, had stalled the negotiations with overseas buyers, according to market sources.
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Rio Tinto, the world’s second largest iron ore miner, has agreed with Liaoning Port Group in Northeast China to expand its RMB-priced iron ore trading, iron ore blending, screening, and transshipment service at Dalian port under the jurisdiction of the port group, the Chinese company shared in a WeChat post on September 28.
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Fortescue Metals Group (FMG), Australia's third largest iron ore miner, has temporarily suspended iron ore mining operations at its Solomon Hub in Pilbara, Western Australia, following that a significant incident involving one employee has occurred at the site this morning, according to a statement released by the company on September 30.
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Nippon Steel, Japan’s largest integrated mill, will not produce crude steel at Kure area of Setouchi Works in western Japan anymore with the second and the also the last blast furnace shut down on September 29 as planned as part of the corporate restructuring, a company official confirmed on Wednesday.
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Shagang Group (Shagang), a leading electric-arc-furnace (EAF) steelmaker in China, has added Yuan 50/tonne ($7.7/t) onto its domestic steel scrap procurement price starting September 27, which is interpreted by the market sources as an attempt to encourage more deliveries from the buyers.
