Posted: January 21st, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Iron ore | Tags: china, iron ore, iron ore china, iron ore price, iron ore stock, steel, steel china, steel price | No Comments »
At $80 in September 2012, the iron ore price was at its lowest for the past 3 years. In 3 months, it surged to a current price around $150 a tonne, a 80% increase! But will it last? As it is often the case, China is the reason for the soaring price of the metal required to produce steel.
Chinese steelmakers absorb 60% of the global iron ore and are doing all they can to put their hands on any available cargo. It is true that at this time of year, China needs to import more since Chinese iron refining factories are typically idling in winter. China also imports more at the beginning of the year in order not suffer from supply disruptions in case the iron ore mines in Australia and Brazil get flooded as it is the beginning of the rainy season in these two countries. However, the current rush exceeds the usual seasonal increase.
Read the rest of Unexpected surge in the global iron ore price » » »
Posted: September 27th, 2012 | Author: Pascal Blanc | Filed under: China, Iron ore | Tags: iron ore | No Comments »
Iron ore prices hit a three-year low of $86.70 per ton earlier this month on fears of a slowdown in Chinese demand. So far iron ore is down 25% this year and its by product steel dropped 10 percent in 2012. Iron ore has struggled to sustain price gains since rebounding, with the outlook for Chinese steel demand staying blurry despite a recent increase in spot steel and futures prices.
“There’s not going to be a recovery in steel in the next six months,” says Craig Bouchard, who founded Schiller Park, Illinois- based Shale-Inland in 2010, a diversified steel services company. “You can’t expect a recovery in iron-ore prices until we see a recovery in the world economy.”
Read the rest of Will iron ore rebound? » » »
Posted: September 5th, 2012 | Author: Rod Sherkin | Filed under: China, Iron ore, Steel | Tags: china, iron, steel | No Comments »
China steel futures fell to an all-time low on Wednesday as poor demand in the world’s top steel market kept the pressure on prices, sending iron ore further below $90 a tonne to its weakest since October 2009.
The most-traded rebar for January delivery on the Shanghai Futures Exchange fell to as low as 3,218 yuan ($510) a tonne, its weakest level since the bourse launched rebar futures in 2009.
Read the rest of Shanghai Steel at record low – Iron Ore at 3-year low » » »
Posted: July 5th, 2012 | Author: Pascal Blanc | Filed under: Aluminum, Commodities, Copper, Iron ore, Metals | Tags: indonesia, mining | No Comments »
As we were mentioning in Aluminum: China is running out of bauxite, in May, Indonesia asked all mining companies to either build their own processing capabilities locally or partner with companies able to do so, knowing that by 2014, exports of raw minerals, including bauxite, would be forbidden. Indonesia‘s goal is to derive more revenue from its mining sector.
As of late June, only 13 firms had been approved which triggered panic buying by customers in Japan and China.
Read the rest of Indonesia: more mining export permits issued » » »
Posted: May 25th, 2012 | Author: Pascal Blanc | Filed under: China, Commodities, Iron ore, Metals | Tags: china, iron | 1 Comment »
In the last few days, Chinese customers started to either require deliveries to be postponed, or they simply refused shipments of iron or coal, mainly for the steel industry. For example, a large Chinese company postponed delivery of 6 million tons of iron.
This is the kind of Information that has a chilling effect for the three major iron exporters as China absorbs more than half of the world production. This is not the first time such a blip occurs and it could become self-sustaining. Seeing lower prices on the spot market, Chinese buyers, being savvy traders, are in no hurry to receive orders placed at a much higher price.
Read the rest of Is China’s appetite for commodities coming to an end? » » »
Posted: May 15th, 2012 | Author: Rod Sherkin | Filed under: Iron ore, Steel | Tags: iron ore, steel | No Comments »
Shanghai rebar fell to its lowest level in more than five months on Tuesday, stretching its losses into a third straight session, amid thin Chinese demand that could prompt producers in the world’s biggest steel market to curb output.
The most briskly traded rebar contract for October delivery on the Shanghai Futures Exchange touched a session low of 4,055 yuan ($640) a tonne, last seen on Nov. 30, before closing at 4,090 yuan, down 1.1 percent.
Read the rest of Chinese Rebar hits 5-1/2 month low as Iron Ore sags » » »
Posted: March 13th, 2012 | Author: Brian Berry | Filed under: Greening the Supply Chain, Iron ore, Steel | Tags: environment, iron ore, labor, steel | No Comments »
Three U.S. companies that are leaders in their fields–Nucor in steel, Cargill in agriculture, and ThyssenKrupp Waupaca in iron castings–are three of the leading U.S. purchasers of Brazilian pig iron. What are these American leaders doing to ensure that the supply chains of their Brazilian pig suppliers–particularly the camps of men who chop or chain-saw down eucalyptus trees and smolder them for eight days to make the charcoal feedstock for pig–are upholding Brazil’s environmental and labor laws?
As one surveys the Brazilian scene for companies that are recalcitrant in meeting their responsibilities to uphold environmental and labor laws in the supply chain, Brazilian pig producer Cosipar sticks out like a sore thumb. Cosipar has been expelled from Brazil’s National Pact for the Eradication of Slave Labor; it is not a member of the Instituto Carvão Cidadão (Citizens Charcoal Institute), the other Brazilian organization that ensures that its members are observing labor laws throughout their entire supply chain.
Read the rest of Brazilian Iron Ore and the Environment » » »
Posted: October 26th, 2011 | Author: Rod Sherkin | Filed under: Iron ore | Tags: iron, iron ore, steel | No Comments »
Iron ore with 62-percent iron content fell 7.2 percent to $128.50 a tonne on Tuesday, according to Platts. It was the biggest percentage drop for the reference price index since Platts began publishing it in November 2008.
Iron ore‘s steepest ever price slide on Tuesday reflects slowing growth in top consumer China and casts more doubts on Beijing’s commodity demand at a time when the outlook for developed economies remains shaky.
Read the rest of Iron ore in record slide as China demand slows » » »
Posted: October 20th, 2011 | Author: Rod Sherkin | Filed under: Iron ore, Steel | Tags: iron ore, steel | No Comments »
Prices of fines with 62 percent iron content delivered to the port of Tianjin plunged 18 percent in the past six weeks after reaching $191.90 on Feb. 16, the highest since at least 2008, The Steel Index data show. The cash price hasn’t traded at less than $140 per ton since September 2010. Swaps for December are at $126.87 per ton, according to Singapore Exchange Ltd.
Iron ore’s biggest decline in 15 months may worsen as the economy slows in China, the largest importer, the European debt crisis persists and BHP Billiton Ltd. (BHP) and Rio Tinto Group increase production, analysts said.
Read the rest of Iron Ore’s Worst Rout in 15 Months Seen Deepening as China’s Growth Slows » » »