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Anglo American's iron ore output dropped 6% on year to 13.9 million tonnes in January-March because of the two pipe leakage accidents at its Brazilian mine Minas-Rio in March, according to its quarterly report released on April 24.
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China mined 66.89 million tonnes of run-of-mine (ROM) iron ore in March, representing a mild decrease of 0.4% on year. Last month's result took total ROM iron ore output over January-March to 189.46 million tonnes, up 1.9% year on year, according to the latest data just released by China's National Bureau of Statistics (NBS).
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China's scrap market pulled up strongly on April 23, mainly due to buoyant sentiment from the finished steel market and to traders' joint efforts to prop up prices. Among all scrap markets nationwide, that in East China showed the sharpest growth, with Mysteel's 6-8mm carbon scrap steel price in Zhangjiagang gaining 5% or Yuan 100/t ($15.8/t) on day to Yuan 2,100/t excluding the VAT.
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Feng Hsin Steel, Taiwan's largest rebar producer headquartered in Taichung city, Central Taiwan, decided to roll over its rebar and scrap procurement prices for the week of April 23-27, a company official confirmed on April 24.
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The Australian miner Fortescue Metals Group (FMG) produced 39.1 million tonnes of iron ore for January-March, which was down 4% on quarter and 2% lower on year because of adverse weather, according to the company's latest quarterly report on April 24.
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China's imported iron ore market moved up on April 23, mainly stimulated by the stronger domestic market for finished steel, with Mysteel's 62% Portside Iron Ore Fines Index picking up Yuan 16/wmt ($2.5/wmt) on day to Yuan 483/wmt FOT Qingdao and including the 17% VAT.
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Trading activity of iron ore port inventories in China during the week of April 16-20 extended the uptick monitored during the previous week, Mysteel's weekly survey found.
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Some large-sized coking plants in China explored the possibility of idling 15-30% of their coking capacities at a recent industrial meeting as part of the efforts to rescue the domestic coke price from further declines, an industrial source confirmed on April 20.
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China will totally ban the imports of 16 waste solid materials for steel, nonferrous metals and plastics recycling starting December 31 and December 31 2019 respectively, according to the latest release from the newly-formed Ministry of Ecology and Environment on April 19.
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China's steel industry has managed to return to the track of concentration since 2017 thanks to Beijing's efforts in excess steel capacity cuts and environmental protection, the China Iron & Steel Association notes.
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The most-traded September Iron Ore contract on the Dalian Commodity Exchange (DCE) closed the day trading on April 19 at Yuan 475/tonne ($76/t), up 6.5% from the previous day's settlement price on the boost of China's sound economic development in the first quarter, market sources shared.
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Inventories of imported sintering iron ore fines at 64 surveyed steel mills nationwide increased by 1.33 million tonnes or 7.1% from April 3 as steel mills have been procuring new stocks, according to Mysteel's latest bi-weekly survey published on April 19.
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The Australian miner BHP produced 67 million tonnes of iron ore at its major mining sites in Pilbara, Western Australia, in January-March on a 100% basis, which was down 6% on quarter but 8% up on year, according to its quarterly report released on April 19.
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Iron ore mines operated by Rio Tinto in the Pilbara region in Western Australia produced 83.1 million tonnes of iron ore in the first quarter of 2018, benefiting from productivity improvements and fewer weather disruptions, according to the miner's first quarter review published on April 18.
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Cities in China which participated in last season's "2+26" cities scheme to improve air quality during winter seem set to continue the battle this year, asking heavy-polluting industries including steel, coke making and metal smelting to accept production restrictions.
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Domestic steel prices in China are expected to remain rangebound over the near term given the rapid jump in steel production at a time when domestic demand remains stable, according to the latest release by the China Iron & Steel Association (CISA) posted on April 18.
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Vale's output of copper and nickel plunged during the January-March quarter, partly due to the company's decision to place non-competitive mines on care and maintenance, according to its report released on April 16.
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More ports in South and East China began imposing restrictions on imports of coking coal and thermal coal last weekend in response to the government's requirement that coal imports should be controlled, market watchers said on April 17.
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China produced 103 million tonnes of coke and 805 million tonnes of coal in the January-March quarter, according to the latest production report from the National Bureau of Statistics (NBS) on April 17. The Q1 coke output total was 3.2% lower on year though the raw coal total was 3.9% up on year, the data shows.
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Scrap prices in East China are under heavy downward pressure after some local steel mills slashed their procurement prices amid a new round of production stoppages, market sources warned on April 17.
