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The China Association of Metalscrap Utilization (CAMU) is continuing to press the central government in Beijing to open steel scrap import channels and introduce policies to free up imports of steel scrap, saying this should be done considering the economic and environmental benefits, according to association vice president, Li Shubin.
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Despite the news one after another from the overseas miners including ferrous and nonferrous regarding their operations disruptions amid the outbreak of the COVID-19, China’s iron ore arrivals have so far not felt any material impact, market sources confirmed over the past three days.
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China’s imported iron ore prices in both the spot and futures markets have been rather volatile since February 3, the supposedly first working day after the lengthy Chinese New Year holiday, and the fluctuation may probably continue in the near term with the mix of positive and negative signals making it hard for investors to agree on the market trend, market sources shared over March 4-6. (Est. reading time: 6 min)
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Nowadays, when I am counting my blessings, I will put one in the daily list, which is that I have never ever thought of testing my market understanding by trading iron ore in the physical or paper markets myself despite having been closely monitoring the market since 2004.
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China, the world’s top one steelmaking and iron ore consuming country, was at the epicenter of all the drama unfolded in the iron ore market in 2019 when the seaborne price shot up and stayed at the three-digit level for some months mainly because of the global iron ore supplies with Vale’s dam accident in late January and then the cyclone that hit Pilbara, Western Australia, in late March.
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China, the world’s top one steelmaking and iron ore consuming country, was at the epicenter of all the drama unfolded in the iron ore market in 2019 when the seaborne price shot up and stayed at the three-digit level for some months mainly because of the global iron ore supplies with Vale’s dam accident in late January and then the cyclone that hit Pilbara, Western Australia, in late March.
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China, the world’s top one steelmaking and iron ore consuming country, was at the epicenter of all the drama unfolded in the iron ore market in 2019 when the seaborne price shot up and stayed at the three-digit level for some months mainly because of the global iron ore supplies with Vale’s dam accident in late January and then the cyclone that hit Pilbara, Western Australia, in late March.
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
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No one would have expected the global iron ore prices in 2019 to have experienced such a sharp turn for rises epsecially when China, as the world’s largest iron ore consumer, already posted its first-year ever decline in annual iron ore imports volume albeit 1% year on year in 2018.
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The rather eventful 2019 for China’s iron ore market is approaching its end, and in retrospect, this year has been full of surprises both in demand and supply as well as in prices for the market participants. Mysteel Global has listed the ten major happenings in the market according to our own understanding.
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The rather eventful 2019 for China’s iron ore market is approaching its end, and in retrospect, this year has been full of surprises both in demand and supply as well as in prices for the market participants. Mysteel Global has listed the ten major happenings in the market according to our own understanding.
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The rather eventful 2019 for China’s iron ore market is approaching its end, and in retrospect, this year has been full of surprises both in demand and supply as well as in prices for the market participants. Mysteel Global has listed the ten major happenings in the market according to our own understanding.
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Vale, the world’s largest iron ore producer, will cooperate with Ningbo Zhoushan Port to produce its first iron ore grinding product dedicated for Chinese users – ‘GF88’ – at Shulanghu iron ore terminal in Zhoushan in East China's Zhejiang province, with the first ore to be available during first quarter next year, according to news released on Ningbo Zhoushan Port’s official website on December 18.
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Earlier than usual, China’s Ministry of Finance (MOF) disclosed on November 27 to grant China's local authorities a total of Yuan 1 trillion ($142.4 billion) quota for the issuance of government bonds for specific uses, which is part of efforts to stabilize the national economy in 2020, clarifying that this is just “part of the whole parcel”.
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Steel capacity in the six major ASEAN countries is projected to reach 144.2 million tonnes/year in the next three to five years should all the integrated mills under planning come on stream as planned, Yeoh Wee Jin from the South East Asia Iron and Steel Institute (SEAISI) shared at the 2019 ASEAN Iron & Steel Sustainability Forum in Jakarta of Indonesia on November 25.
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I’ve never attended a regional event yet where the richness of the Asian region’s cultural elements in language and dress were more in evidence than at the ongoing 2019 ASEAN Iron & Steel Sustainability Forum in Jakarta, Indonesia, hosted by the South East Asian Iron & Steel Institute (SEAISI) on November 25.
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China’s central government has launched a round of thorough checks to determine actual steel output and existing steel capacities in all provinces, autonomous regions and municipalities nationwide, intending to have an accurate and clear picture of the country’s steel industry when the audit is done, an official from the one of the three governing bodies in charge of the task confirmed on Wednesday.
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China’s Ministry of Ecology and Environment (MEE) released two notices on its website on November 12 regarding winter restrictions in the Fenwei Plains and the Yangtze River Delta area over October 1-March 31 2020, with steel, coal and coke industries mentioned, though the focus has been on PM2.5 reduction and waste emission than any detailed and specific instructions in tackling coking, blast furnaces, and sintering.
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After a six-year hiatus, China’s National Development and Reform
Committee (NDRC), the country’s top economic planning body, has released its
latest industrial restructuring guidelines, effective on January 1 2020, to
direct the development of all the key 48 economic sectors including new energy,
coal, steel, nonferrous metals and mining.
The version, posted on the Committee’s
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In week-40 (28th Sep - 5th Oct’19) Indian steel prices in secondary market continued to fall owing to lack of domestic & export inquiries. Major mills announced roll over in finished steel prices for Oct'19.
