May 2022

Iron ore prices decline amid weaker futures, poor downstream demand

Seaborne iron ore prices dipped on Thursday May 26 amid weaker futures and swap prices, caused by limited demand in downstream steel markets, sources told Fastmarkets.

Why China iron ore lump prices are blazing despite weak downstream steel demand

China’s iron ore lump prices have been following an unusual trend recently, moving in the opposite direction of falling iron ore fines prices, despite poor apparent steel demand.

Steel industry left dismayed as Chinese Premier warns of worsening economy but offers no further financial support

Steel industry market participants were left dismayed after Chinese Premier Li Keqiang called on local governments across China to implement policies to stabilize and support market growth, but offered no new fiscal support for the industrial sector.

Seaborne iron ore prices track uptrend in financial markets; downstream demand remains soft

Seaborne iron ore prices rose on Wednesday May 25, tracking the upward momentum in iron ore futures contracts on the Dalian Commodity Exchange (DCE) and front-month swaps contracts on the Singapore Exchange (SGX), market sources told Fastmarkets.

China unveils efforts to stimulate coronavirus-stricken economy amid hazy outlook

The Chinese government has announced further measures to strengthen its economy that has been ravaged by Covid-19, Xinhua News Agency reported late Monday May 23.

Iron ore prices fall amid limited downstream steel demand

Seaborne iron ore prices fell on Tuesday May 24 amid limited downstream demand for steel, which has narrowed steelmakers’ margins, sources told Fastmarkets.

Five key stories from May 23

Here are five Fastmarkets stories you might have missed on Monday May 23 that are worth another look.

Rio Tinto in biofuel trial with BP to cut carbon emissions from shipping

Rio Tinto and BP have agreed to work together on a one-year biofuel trial intended to help reduce carbon emissions from Rio Tinto’s marine fleet, the metals and mining company said on Monday May 23.

India could withdraw from steel export markets because of new duties

India may become increasingly absent from the global seaborne steel markets following the introduction of an export duty at a rate of 15% on a raft of steel products, sources told Fastmarkets.

Seaborne iron ore prices edge up amid thin trading activity

Iron ore prices in the seaborne market showed a slight uptick on Monday May 23 amid limited trading, with most market participants cautious about concluding deals amid market uncertainty created by a rise in India’s tariff on iron ore exports, sources told Fastmarkets.