Prices of iron ore pellets jumped to their highest level in three years in August, benefiting exporters of the key steelmaking raw material.
Indian steel-makers too stand to gain as they remain insulated from the hike since they produce their own pellets.
Prices of pellets rose 29-30 percent over the last one month to 7,400-8,000 a ton. This has also pushed up prices of finished goods. Such rates are likely to persist over the next few months, benefiting steelmakers.
Environmental concerns are driving China’s appetite for high-grade pellets. Outage at Brazil’s Samarco mines is unlikely to start operations this year and reports of force majeure by Swedish player LKAB disrupted third-party supplies.
Average prices of pellets are 7,000 per ton in the ongoing September quarter, higher than the 4,000-5,000 a ton level in 2016 and 2017.
Diese Geschichte stammt aus der September 2018-Ausgabe von Steel Insights.
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Diese Geschichte stammt aus der September 2018-Ausgabe von Steel Insights.
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Steel's Net Zero mission
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Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
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Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
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The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
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