April 2017

STEEL WEEK IN BRIEF: Quarterly coal still not settled, steel prices up in China, Q1 results...

Metal Bulletin reviews the major stories affecting the steel market this week.

EZZ Steel's DRI output 'disrupted by shortages of gas, raw materials, dollars'

Production of direct reduced iron (DRI) at Ezz Steel is intermittent due to shortages of natural gas, raw materials and foreign currency in Egypt, the company’s plant manager, Gopal Seenivasagam, has said.

IRON ORE PRICES: Benchmark index jumps close to $69 per tonne cfr China

Iron ore prices increased to just under $69 per tonne cfr China on Friday April 28, after higher offers emerged due to strengthened steel prices.

Iron ore market in holiday mood despite stronger prices

Spot iron ore transaction volumes quietened on Friday April 28 ahead of a three-day weekend, although more seaborne offers were seen, and at firmer prices, thanks to a rally in the steel market.

China AM: Futures move up again on billet price spike, mills’ profits

China’s ferrous futures moved up during morning trading on Friday April 28, driven by higher steel billet prices in the domestic market and news of higher profits achieved by major steelmakers in the first quarter.

Brazil's Samarco to introduce new layoff programme in June

Brazilian pellet producer Samarco is to introduce a new layoff programme for its workforce, it said late on Wednesday April 26.

Vale forecasts iron ore price 'around' $70 per tonne through 2017

Vale expects the average iron ore sales price in the global market in 2017 to stay around $70 per tonne, despite the recent falls in trade values.

Sweden's LKAB reports surge in Q1 operating profits on iron ore price rise

Swedish iron ore producer LKAB has reported a ten-fold increase in operating profits for the first quarter of 2017, the company said on Thursday April 27.

Vale's earnings more than double in Q1

Vale’s earnings more than doubled year-on-year in the first quarter of 2017, the Brazilian miner said on Thursday April 27.

MB APEX Q1 2017: Investec overall accuracy leader for base, precious metals

Investec has topped the base metals leaderboard in the Apex first-quarter 2017 contest, with an accuracy rating of 99.29%; it also came top of the precious metals table with 98.62% accuracy.