The two key raw material for steel production, Iron Ore and Scrap prices are moving in opposite directions. The Vale disaster at the Brumadinho tailing dam in late January this year has led to a cut in iron ore supplies, and a spike in spot prices making them to hit five years high, leaving no margins for blast furnaces.
News ID: 4827 Publish Date : 2019/06/16
Brazil’s Vale which needs court approval to resume production at its Brucutu mine after a deadly dam collapse, told analysts it expects to do so soon, analysts at brokerage XP said on Thursday after meeting with the miner’s top executives.
News ID: 4824 Publish Date : 2019/06/15
According to General Administration of Customs, China - the world's largest iron ore consumer and importer, recorded 4% rise in iron ore imports to 83.75 MnT in May'19 against hitting 18 months low in Apr'19 at 80.77 MnT.
News ID: 4809 Publish Date : 2019/06/11
World's second largest exporter of iron ore - Brazil has recorded iron ore export volumes at 29.02 MnT in May'19, up 58% as compared to Apr'19 exports at 18.34 MnT, according to trade statistics released by Brazil customs. On yearly basis, exports dropped 16% as compared to 34.62 MnT in May'18.
News ID: 4771 Publish Date : 2019/06/07
Indian iron ore export volumes increased by 45% to 2.05 MnT in May'19 as against 1.42 MnT in Apr'19. On yearly basis, iron ore export increased significantly as against 0.79 MnT in the month of May'18. Iron ore exports from India have climbed to 13-months high as similar level of exports was last seen in Mar'18 at 2.63 MnT.
News ID: 4765 Publish Date : 2019/06/07
NMDC supplied total of 400 ( 1.54 MnT) rakes of iron ore for the month of May’19, up 7% against 374 (1.44 MnT) rakes a month before in Apr’19, according to railway movement data maintained with SteelMint.
News ID: 4755 Publish Date : 2019/06/04
This week Chinese steel prices witness pessimistic market sentiments over increased supply and weakening prices in domestic market. However spot iron ore prices reported decline by the end of this week.
News ID: 4746 Publish Date : 2019/06/04
Iran’s iron ore concentrate production exceeded 4mln tons in the first month of the current Iranian year (started on March 21).
News ID: 4732 Publish Date : 2019/06/02
Essar Steel - an integrated steelmaker with steel making capacity of 10 MnT p.a. recorded slight decrease in total iron ore & pellet sourcing for Apr'19. The sourcing stood at 1.18 MnT in Apr'19, marginally down as against 1.20 MnT in Mar'19.
News ID: 4710 Publish Date : 2019/06/01
Spot iron ore fines Fe 62% index has dropped to USD 103.5/MT, CFR China on Wednesday (29th May). The prices have dropped down from five year high levels of USD 108/MT, CFR China recorded towards beginning of the week. Prices have recorded decline amidst easing supply post Vale announcement of lower risk at collapsing of Gongo Soco mining pit.
News ID: 4702 Publish Date : 2019/05/31
According to the data maintained by SteelMint, Iran's iron ore exports via bulk shipments in second month of current Persian year (May'19) was recorded at 1.91 MnT, up 45% as against 1.31 MnT a month ago. The exports in May'19 have hit highest since Apr'18.
News ID: 4698 Publish Date : 2019/05/31
Fortescue Metals Group - world's 4th largest iron ore producer has kept the sub-grade iron ore discount for SSF (super special fines) unchanged. SteelMint has learned from the market participants that FMG has kept the discount stable for SSF low-grade fines for the month of June’19 to 11% in line with May’19.
News ID: 4646 Publish Date : 2019/05/27
Department of Mines and Geology (Govt. of Karnataka) has floated the tender for auctioning of 4 iron ore blocks in Karnataka for its 4th phase.
News ID: 4620 Publish Date : 2019/05/22
The iron ore market is on a surge, the price last week punching up through the $100-per tonne level for the first time in five years.
News ID: 4606 Publish Date : 2019/05/21
Spot iron ore fines Fe 62% index has picked up to USD 100.4/MT, CNF China as against USD 98/MT, CNF China yesterday. The increase is due to Vale forecast of dam rupture in next week. The prices have hit 5 years high as the prices were last seen in May'14.
News ID: 4577 Publish Date : 2019/05/19
Brazil's Vale’s warning that a tailings dams at its shuttered Gongo Soco mine in Minas Gerais is at risk of rupturing as soon as next week lit a fire under iron ore prices on Friday, sending the steelmaking raw material to a five-year high.
News ID: 4575 Publish Date : 2019/05/18
SteelMint in conversation with trade sources learned that assessment for low-grade iron ore fines export from India has remained stable. SteelMint’s assessment for low grade (Fe 57/58%) iron ore fines prices have remained mostly stable at USD 57-58/MT, FoB India equivalent to USD 67-68/MT, CFR China.
News ID: 4557 Publish Date : 2019/05/17
USA iron ore Imports Down 23% Q-o-Q in Q1 CY19- USA’s iron ore imports recorded at 1.4 MnT in Q1 CY’19 down 23% as against 1.83 MnT in Q4 CY18.
News ID: 4554 Publish Date : 2019/05/17
As per sources report to SteelMint, JSW Steel booked 20,000 MT iron ore fines (Fe 64-62%) from Daitari mines in OMC e-auction conducted today (14th May'19) . The company has booked iron ore fines at base price of INR 2,450/MT (inclusive of Royalty).
News ID: 4544 Publish Date : 2019/05/16
SteelMint has learned from the market sources that, few Odisha based major merchant iron ore miners are in discussions for revision in iron ore offers this week.
News ID: 4542 Publish Date : 2019/05/16