May 2022

Vale expects iron ore price to remain strong for longer amid mine depletion

Brazil-based miner Vale expected fundamentals for the current positive commodity cycle to remain for longer, especially considering the iron ore mine depletion estimated for this decade, the company said on Tuesday May 17.

Turkish scrap import market quiet amid sluggish steel sales

Turkish steel mills continued to stay away from the deep-sea scrap import market amid sluggish long steel and billet sales, market participants told Fastmarkets on Tuesday May 17.

UG2/MG chrome ore market stabilizes as buyer cautiousness increases in China

An overview of the chrome ore and alloy markets and their latest price moves globally in the week to Tuesday May 17.

Sustainability is fundamentally reshaping investors’ approach to finance – Hotter on metals

A shift in spending from high- to low-carbon assets as part of the energy transition culture could create the biggest reallocation of capital in history – and is already fundamentally reshaping investors’ approach to financing.

MineHub adds container-based shipments, transactions to blockchain platform

MineHub Technologies has added container-based transactions and shipments to its blockchain-based platform for supply chains, the company has said.

Higher seaborne demand prompts uptick in iron ore prices

Seaborne iron ore prices ticked up on Tuesday May 17 amid an increase in buying interest for seaborne cargoes, sources told Fastmarkets.

Coking coal prices diverge in fob Australia, cfr China markets

Seaborne coking coal prices in the fob Australia and cfr China markets diverged on Tuesday May 17, while in domestic China, some mills proposed the third round of coke price cuts since the start of May.

Cisa anticipates demand pick-up for steel, iron ore once Covid-19 cases come under control

The China Iron and Steel Association (Cisa) remains positive that demand for steel and iron ore will pick up once Covid-19 cases are brought under control, Qi Bin, deputy director, market research department of Cisa, said during the Singapore International Ferrous Week on Tuesday May 17.

Bearish sentiment in Taiwan rebar market pressures down scrap prices

Spot prices for imported containerized ferrous scrap in Taiwan weakened slightly on Tuesday May 17 amid low demand for scrap due to bearish sentiment in its rebar market, according to market sources.

Ukraine-Russia war to 'drag on China's economic development'

The ongoing Ukraine-Russia war will be a long-term drag on China's economic and political developments until it is resolved, retired diplomat and think-tank chief Bilahari Kausikan said at the Singapore International Ferrous Week opening ceremony on Tuesday May 17.