FIS API Blog
Global steel demand will fall by 2.3pc this year to 1.79 bn t, industry association Worldsteel said today, revising down its April guidance of 0.4pc demand growth. High interest rates and persistently high inflation led to the revision, along with monetary tightening and market softening in China. “The expectation of a continued and …
Continue reading “Global Steel Demand To Drop 2.3% This Year According To Worldsteel 20/10/22”
Export duty under examination: Indian steel minister A 15pc export tax on steel imposed by the Indian government in May is being considered and examined by the country’s new steel minister, although no changes have been announced. “These [export tax removal proposals] are things that I am engaging myself on currently, we will …
Continue reading “Export Tax On Steel Is Being Considered By Indian Steel Minister 12/08/22”
Iron ore futures advanced on Wednesday as investors gauged over short-term iron ore supply. On one hand, Australian miners have been going flat out and the country may be shipping in record volumes. According to initial tally compiled by Bloomberg, shipments from Australia were up by 3.2 million tonnes in May year-on-year to 79.7 …
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
Continue reading “Iron ore soars on China recovery, supply fears”
Iron ore futures recovered from yesterday’s blip to trade above $95 as investors become increasingly concerned over the coronavirus crisis in Brazil. Brazil’s iron ore shipments had their slowest start to a year in the last five years. Brazilian miner Vale downgraded its production guidance early in the year, Morgan Financials Ltd noted that more …
Continue reading “Iron ore blips back on supply fears, stimulus hopes”
