Rio Tinto warned on Friday that a resurgence in coronavirus cases was putting global economic growth at risk, and that steel production outside China has sharply dropped even as stimulus measures prop up demand in the top consumer. Worldwide trade has been showing signs of recovery as countries...
Commodity News
China’s stainless steel market has room to grow: forum
China, a leading consumer of stainless steel globally, has huge market space for further expansion despite the challenges brought about by COVID-19 pandemic, industry insiders have said. The country’s annual demand for stainless steel is expected to rise to 30 million tonnes in 2025, given its...
https://www.hellenicshippingnews.com/chinas-stainless-steel-market-has-room-to-grow-forum/
Vale CEO sees 400 mln tonnes of iron ore output by early 2023
Brazilian mining company Vale SA VALE3.SA is on track to reach its goal of producing 400 million tonnes of iron ore by the end of 2022 or early 2023, Chief Executive Eduardo Bartolomeo said during the FT Commodities Mining Summit on Friday. The company is already producing 1 million tonnes of iron...
https://www.hellenicshippingnews.com/vale-ceo-sees-400-mln-tonnes-of-iron-ore-output-by-early-2023/
Weekly US coal production climbs to six-week high: EIA
Weekly US coal production jumped to a six-week high of 11 million st in the week ended Oct. 10, up 6.3% from a week earlier but 14.7% lower from the year-ago week, according to the US Energy Information Administration report on Oct. 15. The latest week was the third highest weekly total in the last...
https://www.hellenicshippingnews.com/weekly-us-coal-production-climbs-to-six-week-high-eia/
World Steel Association Revises Steel Demand Upwards
The World Steel Association (worldsteel) today released an update to its Short Range Outlook (SRO) for 2020 and 2021. This SRO is showing a much more optimistic outlook than the previous SRO finalised in June. While still showing a decline in demand for 2020, it is a much smaller decline than...
https://www.hellenicshippingnews.com/world-steel-association-revises-steel-demand-upwards/
Not a zombie! Thyssenkrupp workers want fast steel rescue decision
The German government must swiftly decide on whether it is prepared to take a stake in Thyssenkrupp’s ailing steel business, one of the firm’s labour leader said, adding steel remained a vital product for the country’s car sector. “Steel is anything but dead,” Tekin Nasikkol, who chairs the works...
Tata Steel may turn a corner as subsidiary’s Q2 results shows recovery on track
After a dull June quarter, the steel sector is building up a case for a turnaround. Tata Steel could have racked up profits in Q2 after covid-19 disruption. Its subsidiary Tata Steel BSL’s decent jump in volumes has seen it post a sharp recovery. And will also drive gains for the parent. Tata...
EU implements further stainless steel import protection as Asian capacity grows
The increasing dominance of stainless steel production by the Asian continent is not going unnoticed by the European mills. Low production costs and local raw material resources have attracted investments in new facilities in several Asian countries, highlighted by the rapid expansion of stainless steel flat product manufacturing in China, Indonesia and Vietnam. The growth …
The post EU implements further stainless steel import protection as Asian capacity grows first appeared on Hellenic...
Indian activists oppose plans to make Goa a coal transport hub
Indian activists and politicians in Goa, known globally for its pristine coastline and dense forests, are opposing a plan by Prime Minister Narendra Modi’s government to turn Goa into a coal transportation hub. Locals and activists have been protesting against three infrastructure projects – the...
https://www.hellenicshippingnews.com/indian-activists-oppose-plans-to-make-goa-a-coal-transport-hub/
Timeline: China and Australia commodities trade tensions
Australia’s ties with top trade partner China soured in 2018 when it became the first country to publicly ban China’s Huawei from its 5G network, and worsened after Canberra called for an enquiry into the origins of the coronavirus. Tit-for-tat diplomatic reprisals have since followed, including...
https://www.hellenicshippingnews.com/timeline-china-and-australia-commodities-trade-tensions/