Category archives: Ferrous
London Iron Ore Market Report
DCE drops on market uncertainty and rising US-China tension
Iron ore futures slid on start of the week, continuing the correction phrase seen last week on bearish market sentiments and rising US-China tension. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 1.99% or RMB 16.50 day-on-day to RMB 814.50 per tonne on Monday. Following the drop, the steel …
Continue reading “DCE drops on market uncertainty and rising US-China tension”
Steel & Scrap
Daily Ferrous Physical Review Jul 27th
Ferrous Market Updates – Steelbank Inventory: rebar inventories 7.52 million tonnes, up 2.38% w-o-w. HRC 1.84 million tonnes, up 1.85%. – China H1 pig iron production 432.68 million tonnes, up 2.2% y-o-y. Crude steel production 499.01 million tonnes, up 1.4% y-o-y. – China metallurgical research institution said China steel per GDP will decrease in long …
London Iron Ore Market Report
Iron ore futures sink as stockpiles rise
Iron ore futures sank to 106 in London on Friday as stockpiles in China expanded yet again. Inventory at ports rose by 2.78 million tonnes on week to 113.25 million tonnes, according to Mysteel data. Material from both Australia and Brazil climbed, with the latter gaining more than 5%. This was further exacerbated by the …
Steel & Scrap Morning Report
No big surprise as Australian ores dominate trades
It was typical week which Australian iron ores accounted most of the trade transactions that totaled to 2.5 million mt, up 18.86% week-on-week. Over half or 57.09% of iron ore transaction belonged to the Australian Pilbara Blend Fines (PBF) at 1.43 million mt, then followed by Jimblebar fines at 8.20% or 205,000 mt. Finally, the …
Continue reading “No big surprise as Australian ores dominate trades”
DCE slips on weekly drop in steel demand
Iron ore futures ended the week in correction as steel demand softened on lower downstream consumption. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 2.13% or RMB 18 day-on-day to RMB 827.50 per tonne on Friday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also dipped by …