- Write by:
-
Wednesday, April 26, 2023 - 18:57:41
-
169 Visit
-
Print
Mining News Pro - Iron ore prices were mixed on Wednesday while a China steel industry group urged producers to curb output to stay afloat.
Steel prices in China have sunk amid a disappointing pace of recovery in demand, posing challenges to the industry, according to the China Iron and Steel Association.
The group has urged producers to cut output to help ensure a stable cash flow.
Already, more than 30 steel mills have issued plans for maintenance as of Tuesday, according to industry consultancy and data provider Mysteel.
Benchmark 62% Fe fines imported into Northern China rose 2.74%, to $106.32 per tonne.
In contrast, the steelmaking ingredient’s most-traded September contract on China’s Dalian Commodity Exchange ended daytime trade 0.4% lower at 716.50 yuan ($103.52) a tonne.
Even if the Chinese appetite for steel products improves later this year, iron ore will remain weak “for a long time” because of the government’s policy to curb output, Huatai Futures analysts said in a note.
China is considering limiting its steel output this year, according to analysts and recent unconfirmed reports, extending a two-year-old policy aimed at curbing emissions by the world’s largest steel producer.
Short Link:
https://www.miningnews.ir/En/News/622861
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
Australian-based Atlantic Lithium Ltd., which is developing Ghana’s first lithium mine, has taken a step toward raising ...
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
A Brazilian federal court rejected a request made by the country’s solicitor general’s office asking that miners Vale, ...
No comments have been posted yet ...