September 2017

STEEL WEEK IN BRIEF: Scrap, iron ore prices down, Chinese HRC export prices fall, steel mills announce investments...

Metal Bulletin reviews the major stories affecting the steel market over the past week.

IRON ORE PRICES: Benchmark index falls to $62 per tonne cfr China

Iron ore prices dropped to $62 per tonne cfr China on Friday September 29 amid limited trading activity in the market ahead of China's week-long holiday to mark its National Day.

Iron ore trading activity dies down on eve of Chinese holiday

The trading of iron ore in the physical market largely came to a close on Friday September 29 with most participants in China starting a week-long break.

China AM: Ferrous futures mixed on eve of holiday

China’s ferrous futures were mixed during morning trading on Friday September 29, with the iron ore and coking coal contracts concluded the session slightly lower while the others ended in positive territory.

IRON ORE PRICES: Benchmark index falls below $63 per tonne cfr China

Iron ore prices fell below $63 per tonne cfr China on Thursday September 28 with both the steel and steelmaking raw materials markets remaining subdued ahead of China’s Golden Week.

Chinese mills warm up to ‘basket of indices’ to price seaborne iron ore

Chinese steel mills are keen to use a basket of indices to price their seaborne iron ore cargoes bought under long-term contracts, according to the China Iron & Steel Assn (Cisa).

Trading thins further in iron ore market

The seaborne iron ore market saw little trading activity on Thursday September 28 amid diving futures, while port prices remained largely unchanged as well.

Vale aims to lower capex to $2.6-3.2bn in 2021

Brazilian miner Vale plans to reduce its annual capital expenditure (capex) by $1-1.60 billion in the 2017-2021 period, its ceo Fabio Schvartsman told delegates at the 9th Itaú BBA LatAm Commodities Conference on Wednesday September 27.

IRON ORE PRICES: Benchmark index falls to $64 per tonne cfr China

Iron ore prices dropped to $64 per tonne cfr China on Wednesday September 27 because trading activity in the seaborne market was at a standstill.