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Rio Tinto, the world’s second largest iron ore miner, posted an 8% year-on-year decline in both its iron ore output and sales from its Western Australia’s Pilbara operations over January-June, mainly due to the Tropical Cyclone Veronica over late March-early April, according to the company’s latest quarterly production report released on July 16.
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China’s coking coal price stopped from declining and was rangebound over July 8-12, as some coke makers increased their coke procurement modestly, betting on the little likelihood of further decreases on merchant coke price, market sources shared on July 15.
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Iron ore shipments dispatched from Australia and Brazil showed signs of recovering over July 8-14, up 1.98 million tonnes or 10% on week to 21.75 million tonnes, mainly because of the added tonnage from Australia, according to Mysteel’s latest data released on July 16.
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Offer prices of domestically produced iron ore concentrates continued to increase over July 8-12, rising by as much as Yuan 85/tonne ($12.4/t) and closely following the uptrend in imported iron ore prices, according to Mysteel’s latest weekly survey released late last Friday.
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Production summary
Source: Rio Tinto,
released on April 16
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Chinese imported iron ore prices for both port and seaborne markets increased on Monday, mainly due to renewed concerns about ore availability.
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Australian iron ore mining firms contacted by Mysteel Global Monday had received no reports of damage from the large earthquake which rattled across much of the Western Australian state on Sunday afternoon.
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China’s domestic steel scrap market showed signs of staying firm over the week July 8-12, mainly given the low stocks of ferrous scrap among steelmakers amid the seasonal decline in scrap supply, market watchers said Monday.
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China’s GDP achieved a 6.3% year-on-year growth for the first half of 2019 to Yuan 45.1 trillion ($6.6 trillion), which was within Beijing’s economic growth target of 6-6.5% for this year, though the Q2 GDP growth was 0.2 percentage point lower than that for Q1, according the latest release from the country’s National Bureau of Statistics (NBS) on July 15.
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The latest data from China's National Bureau of Statistics (NBS) suggests the country could conceivably produce close to 1 billion tonnes of crude steel for the whole 2019 if the steel production kept running at nearly 10% year-on-year growth rate, though market sources dismissed the possibility.
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China’s average capacity utilization rate in all industries nationwide remained largely unchanged during the April-June quarter at 76.4%, up 0.5 percentage point on quarter, though 0.4 percentage point lower than one year ago, according to the latest data released by China’s National Bureau of Statistics (NBS) on July 15.
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China’s coke output grew 6.7% on year to 233.9 million tonnes over January-June, and the country’s raw coal production including thermal coal and metallurgical coal increased 2.6% on year to 1.76 billion tonnes, according to latest release by the country’s National Bureau of Statistics (NBS) on July 15.
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China's fixed asset investment (FAI) grew by 5.8% on year to Yuan 29.9 trillion ($4.3 trillion) for January-June, up 0.2 percentage point from that for January-May, while the FAI in the property market grew 10.9% on year in H1, 0.3 percentage point lower than the first five months, according to the latest data released by China’s National Bureau of Statistics on July 15.
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China's crude steel output grew 9.9% on year to 492 million tonnes over January-June, with the June volume up 10% year on year to about 87.5 million tonnes. A detailed report will be posted soon.
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China's fixed asset investment in general grew 5.8% on year to Yuan 29.9trillion ($4.3trillion) for January-June, among which the funding in the property market went up 10.9% on year to Yuan 6.2trillion during the period. A detailed story will be posted soon.
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Over January-June, China’s coke output
increased 6.7% on year to 233.9 million tonnes, and raw coal including thermal and metallurgical coal grew 2.6% on year
to 1.76 billion tonnes. A detailed report will be posted soon.
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China's GDP grew 6.3% on year in the first half of 2019, which was within its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China’s steel market is generally pessimistic about steel demand in the second half of this year, as the property market, a key consumer of steel products, will probably slow down, market sources share on July 12.
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Chinese prices of import iron ore for both the port and seaborne markets stayed rangebound Friday amid softening iron ore usage and low restocking interest at port.
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China’s iron ore imports during this year’s first half continued their year-on-year decline, according to the latest statistics from the country's General Administration of Customs published on July 12, with the total volume for January-June falling by another 5.9% on year to 499 million tonnes.
