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Platinum: +2.2% Turkey steel scrap: +1.9% Zinc: +1.8% Aluminum: +1.2% Copper: +0.9% Iron ore: -2.7% Coal: -4.8%
Nickel: +2.3% Steel Billet, Black Sea: +1.9% Iran Steel Billet: +0.7% Iron ore: 0.6% Zinc: 0.3% Copper: -0.4% Selenium: -1.8% Ferro-vanadium: -9.1%
Yesterday iron ore price reduced 0.6%. Index for iron ore 62% and 65% Fe fell respectively 1.1% and 1.4%. Iron ore price reduction as well as the new 25% tariffs on export of iron ore in Iran can limit Iran’s iron ore export significantly. But it is a good opportunity for Iranian steelmakers; help them…
Index for iron ore at Chinese ports fell to 87.9 on Wednesday, down 5.5% Reasons: Low restriction on Chins steelmaking mills this winter, increase the steel supply and cause the steel price to fall. So the iron ore rate as the raw material for steel production will be under pressure. RioTinto iron ore supply increased…
#Zinc with a +4.9% surge together with +3.6% growth of Iron ore Concentrate and +3.3% in Turkey’s import Scrap was the market winners of the week. Sponge briquettes price was descending and Venezuela’s index has dropped -9.3% this week. South African ports’ Manganese ore price also had a -7% fall.
Aluminum stocks of SHFE and LME jumped respectively +0.3% and +1%. Copper stocks of LME and US decreased respectively -1.1% and -0.3% while copper stocks of SHFE increased +14.5%. Zinc stocks of LME descended -2.9% but zinc stocks of SHFE ticked up +4.4%.
China imported no scrap on August 2019. This is the first time since 1999 that China purchased no scrap; end the story that it is the world’s first buyer of scrap! It caused scrap steel price to grow to USD 387, up 18$ compared with previous year. But China government still persists on importing no…
Chinese iron ore stocks had a bullish trend since 2.5 months ago, up 5.5%. It controls the increase of iron ore price and decreased its rate from $125.7 to $90.
On Friday 27th, Iran iron ore price increased $1.6 per MT and the index for low grade iron ore products (Magnetite 54% and Hematite 56%) had a weekly growth of 2.7%. Index for Iran concentrate though to today’s improvement, had a weekly decrease of 1.3%. Hematite 60% dropped 2.4% WOW.