India increased iron ore production to a historic high of 282 million tons in 2023, up almost 14% year-on-year. The state of Odisha, which accounts for 56% of the country’s ore production, increased its output by 18% y/y last year – to 159 million tons. Several factors contributed to the growth. Last year, state-owned mining […]
India increased iron ore production to historic high in 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $424/ tonne, $4 up compared to last week’s prices, and iron ore prices $132/ tonne, $9 down compared to last week’s prices, while the prices of billets ranged between 510 – 595 Dollars per tonne, while it was between 505 –
Steel prices in the second week of January 2024 Read More »
In December 2023, Chinese steel companies increased iron ore imports by 11% compared to the same period in 2022 – to 100.9 million tons. While it decreased by 1.8% compared to November 2023. In 2023, Chinese steelmakers increased iron ore imports by 6.6% compared to 2022 – up to 1.179 billion tons. Iron ore prices
China’s iron ore imports exceed one billion tons in 2023 Read More »
In December 2023, Brazil exported 39.65 million tons of iron ore, the highest figure for the year. Compared to December 2022, the figure increased by 24% y/y, and by 25.5% compared to the previous month. This is reported by Davis Index with reference to data from the Brazilian customs. During December, Brazilian companies exported 64.76
Brazil increased iron ore exports by 10% and scrap by 117% in 2023 Read More »
The Anglo-Australian Rio Tinto expects to start production at its mining project – which is the largest in the world – in Guinea this year, after a 27-year hiatus that witnessed many surprises and political tensions. Bold Batar, CEO of Rio Tinto’s copper business, said in an interview with the Financial Times that it hopes
The world’s largest iron mining project will begin production this year Read More »
Bahrain Steel Company, the world leader in the production and supply of high-quality iron pellets, announced the signing of a seven-year joint sustainable financing contract worth $450 million. This important financing confirms the company’s firm commitment to environmental, social and corporate governance principles, in addition to the banking alliance’s commitment to their clients to consolidate
According to the prices announced in the global steel markets, scrap prices amounted to $420/ tonne, $10 up compared to last week’s prices, and iron ore prices $141/ tonne, $1 up compared to last week’s prices, while the prices of billets ranged between 505 – 590 Dollars per tonne, while it was between 505 –
Steel prices in the first week of January 2024 Read More »
Iron ore prices continued to rise for the third day in a row, supported by the Chinese authorities indicating the possibility of taking further measures to stimulate the economy, especially with regard to the faltering real estate sector. The prices of iron ore futures traded in Singapore rose by 0.6% to $142.60 per ton, while
Iron ore prices continue to rise for the third day in a row Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $410/ tonne, $14 down compared to last week’s prices, and iron ore prices $140/ tonne, $1 up compared to last week’s prices, while the prices of billets ranged between 505 – 540 Dollars per tonne, while it was between 505 –
Steel prices on the last day of 2023 Read More »
Iron ore futures prices consolidated their gains during Tuesday trading to exceed the level of 140 per ton, with China’s steel production towards recording its first annual increase in about 3 performance. Last week’s data continued that China’s steel production increased by 3.8% in November compared to the previous month, from one ton to 76.1
Iron ore prices consolidate their gains and exceed the level of $140 per ton Read More »
Foreign trade data showed that Egypt’s imports of raw materials of iron, steel, iron ore and their concentrates in January-September 2023 amounted to $4.163 billion, a decline of 25.5% compared to the same period in 2022, which amounted to $5.589 billion. The value of Egypt’s imports of iron or steel raw materials declined to reach
According to the prices announced in the global steel markets, scrap prices amounted to $424/ tonne, $2 down compared to last week’s prices, and iron ore prices $139/ tonne, $5 up compared to last week’s prices, while the prices of billets ranged between 505 – 540 Dollars per tonne, while it was between 515 –
Steel prices in the fourth week of December 2023 Read More »
In November alone, China’s iron ore production totaled 85.568 million mt, increasing by 6.6% year on year, while decreasing by 1.1% month on month, according to China’s National Bureau of Statistics (NBS). Import iron ore prices have seen an overall upward trend until November 22, while moving down in late November. When entering in December,
China’s iron ore output up 7.1% in January-November 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $426/ tonne, $2 down compared to last week’s prices, and iron ore prices $134/ tonne, $3 down compared to last week’s prices, while the prices of billets ranged between 515 – 550 Dollars per tonne, while it was between 505 –
Steel prices in the third week of December 2023 Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in last October amounting to 28.29 million pounds. The company explained, in a statement to the Egyptian Stock Exchange, that sales of Bahariya Oasis mines in September amounted to 28.23 million pounds. She added that the sales value of the
Egypt: 28.3 million pounds in iron and steel sales to mines in October Read More »
Algiers, Assistant Director General of the National Iron and Steel Corporation (FERAL), Belhadj Reda, confirmed that between 2022 and 2023, more than 250 thousand tons of iron ore were extracted from the Gara Jbeilat mine. Mr. Belhadj explained, in a press interview with Algerian Radio Channel 1, that about a quarter of a million tons
Algeria: Extracting more than 250 thousand tons of iron ore from the Gara Jbeilat mine Read More »
Australia -based miner Rio Tinto has announced that it aims to achieve and sustain a medium-term annual capacity of 345-360 million mt from its Pilbara iron ore business, including the pre-feasibility study underway on the Rhodes Ridge project. The company also expects an annual five million mt uplift from implementing the Safe Production System at
Rio Tinto targets annual 345-360 million mt iron ore capacity in Pilbara Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $428/ tonne, $26 up compared to last week’s prices, and iron ore prices $137/ tonne, $4 up compared to last week’s prices, while the prices of billets ranged between 505 – 610 Dollars per tonne, while it was between 495 –
Steel prices in the second week of December 2023 Read More »
Edorao Bartolomeo, CEO of mining company Vale, said that China may be the largest buyer of iron ore in the world. But that does not mean that Beijing can succeed in setting its prices. Bartolomeo explained in an interview ahead of the company’s annual investor day that Vale is confident that the balance between supply
Vale CEO: China cannot control the price of iron ore Read More »
In 2024, ArcelorMittal Kryvyi Rih plans to increase its production capacity utilization from 30% to 50%. This was stated by the company’s CEO Mauro Longobardo during a meeting with a German delegation, Metallurg newspaper reports. According to him, the plant is ready to increase production as soon as possible and support Ukraine in its post-war
ArcelorMittal plans to increase capacity utilization to 50% in 2024 Read More »
Steel prices in the first week of December 2023 Read More »
Deputy Minister of Industry and Mineral Resources for Mining Affairs, Engineer Khalid bin Saleh Al-Mudaifer, confirmed that the mining strategy in the Kingdom of Saudi Arabia will enhance the increase in demand for steel in the Kingdom during the next ten years. This came during his participation in the activities of the Arab Mining Conference
Saudi Arabia mining strategy boosts steel demand for the next ten years Read More »
Steel prices in the fourth week of November 2023 Read More »
The price of iron ore continued to rise during trading on Tuesday, reaching its highest levels since February, with growing optimism about demand in light of China’s efforts to stimulate its economy. China has identified a list of 50 real estate development companies eligible for financing as the country attempts to reduce the real estate
Iron ore price rose to its highest levels in 9 months Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $383/ tonne, $5 up compared to last week’s prices, and iron ore prices $130/ tonne, $1 up compared to last week’s prices, while the prices of billets ranged between 490 – 520 Dollars per tonne, while it was between 475 –
Steel prices in the third week of November 2023 Read More »
Iron ore prices rose on Wednesday’s trading, as a result of improved prospects for Chinese demand for steel following circulating news about Beijing’s intention to launch a new spending package to support the faltering real estate sector. Bloomberg published a report stating that the Chinese government plans to provide low-cost financing worth at least one
Iron ore prices exceed $130 per ton for the first time since March Read More »
Iron ore extended its gains, approaching $130 per ton CFR, amid expectations of some recovery in steel production and Goldman Sachs’ forecast that the raw materials market will face shortages this year. Australian iron ore 62% Fe prices rose by $1.5/ton to reach $129.25/ton CFR after rising by 22.5 yuan/ton ($3.1/ton) on the DCE exchange
Report: Iron ore is approaching $130 per ton, with declining demand Read More »
The company explained in a statement to the Egyptian Stock Exchange that sales of Bahariya Oasis mines during September amounted to 15.69 million pounds. She added that the sales value of the Bani Khaled-Samalut quarries recorded about 32.43 thousand pounds. It is noteworthy that iron and steel for mines and quarries achieved 127.81 million pounds
Egypt: 15.7 million pounds in iron and steel sales to mines in September Read More »
ArcelorMittal, one of the world’s largest steel producers, reduced steel production in the January-September 2023 period by 3.1% compared to the same period in 2022 to 44.4 million tons. Exports decreased by 2.3% year-on-year to 42.3 million tons. This was stated in the quarterly report published on the company’s website. Iron ore production in the
ArcelorMittal’s steel production fell by 3.1% in January – September 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $378/ tonne, $8 up compared to last week’s prices, and iron ore prices $129/ tonne, $3 up compared to last week’s prices, while the prices of billets ranged between 475 – 515 Dollars per tonne, while it was between 475 –
Steel prices in the second week of November 2023 Read More »