The most spectacular drop in iron ore on record portends more volatility ahead as investors grapple with China’s complex policy backdrop and an uneven recovery in global demand. A brutal five-week path for futures, combined with a 14% drop in the spot market on Thursday, has seen it lose roughly 40% of its value since …
China is considering increasing taxes on steel exports to fulfil the twin aims of limiting domestic output and taming rising costs, fueled inflation fears. According to two persons familiar with the situation who asked not identified because they are not authorized to speak to the media, potential rates are being discussed, ranging from 10% to …
The current trend of iron ore prices is around US$220.50 per ton. This is more than twice the level of last year. In fact, in June last year, iron ore prices exceeded the $100 per ton mark for the first time since August 2019. This increase was caused by supply concerns in Brazil, which was …
Underinvestment in copper over the past years caused supply issues. The prices have soared, and green initiatives have created a higher demand for metals. In the past decade, many manufacturers in this market have become very conservative. This has led to insufficient investment to penetrate the supply chain, clearly creating problems now. From electronic products …
Low Investment Interests in Copper Cause Supply Problems Read More »
Australian copper mining company 29Metals LTD, the country’s second-largest listed company, is seeking to raise U.S. 471 million in an initial public offering with its shareholders in Sydney. According to the terms of the deal, the company plans to issue new shares worth A$245 million. In comparison, existing shareholders, including EMR Capital Advisors, will issue …
In two weeks, the cost of steel products rose by more than 1,600 yuan (US$250) per ton. It has attracted the attention of the highest levels of the Chinese government. Chinese Premier Li Keqiang said that the government’s high-frequency response peaked on Monday. He said that it is necessary to avoid passing commodity price increases to consumers. …
China’s Steel Prices Experience a Roller-Coaster Since May 1 Read More »
Asian Metals Symposium held an expert survey at their online metal seminar on Tuesday. The participants were discussing whether the commodity market would experience a “supercycle” in the next few years or not. Global demand is picking up as some economies rebounded from the COVID-19 pandemic. Trillions of dollars of stimulus injections of large amounts …
Which Commodities Might Have a “Supercycle” Ahead? Read More »
Iron ore prices rebounded on Monday because of China’s steel output hitting record highs. In April, crude steel production increased to 97.9 million tons, setting a record for monthly and daily operating rates. The strong production pace has also brought the year-to-date total to 375 million tons. It is an increase f o16% over the …
China’s steel output hits record, recovering iron ore prices Read More »
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