Steel (Iron Ore) 03 (May 17 - Dec 25)

[winston]

Steel hikes coming for cars to ships in Japan as costs soar

by Masumi Suga

Nippon Steel Corp will need to pass on the sharp cost increases for inputs like iron ore and coking coal “promptly and fairly”. “Otherwise our profits will be squeezed.”

Japanese manufacturers are already feeling the pain of soaring steel and other materials in a country that imports everything from iron ore to crude oil.

Iron ore is seen moving between US$130 to US$150 a ton, while coking coal is set to fluctuate from US$450 to US$550 a ton.

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... costs-soar

[winston]

China’s steel industry sounds the alarm over crisis conditions

by Liz Ng

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... conditions

[behappyalways]

Steel coils are all "soaked"! Pohang Steel Plant in South Korea suffered a severe disaster. Sinosteel: It is beneficial to the Asian steel market in the fourth quarter. The price is expected to accelerate upwards

鋼捲全"泡湯"了!南韓浦項鋼廠災情慘重 中鋼:有利亞洲鋼市 第4季盤價可望加速向上｜非凡財經新聞｜20220907

https://m.youtube.com/watch?v=tU4rHsgCfXw

[behappyalways]

#EU's idled steel plants due to high energy costs, in one map

https://mobile.twitter.com/michaeltanch ... 5187445770

[winston]

ron Ore Edges Lower as China’s Steel Demand Remains Weak

by Liz Yee Xing Ng

Demand in China remains moribund, while iron ore shipments from Port Hedland quickly resumed after closing due to a cyclone.

Stockpiles jumped 6.2% in early April, with slower sales forcing mills to offer discounts on inventories and keeping them from restocking.

Molten iron supplies remain high, reflecting slower destocking and weaker demand in the market. Long-term fundamentals are expected to gradually weaken, with prices to adjust downward.

Source: Bloomberg

https://finance.yahoo.com/news/iron-ore ... 58216.html

[behappyalways]

China Dominates The World's Biggest Steel Producers
https://www.zerohedge.com/commodities/c ... -producers

[behappyalways]

Biden recruits allies to suppress China's steel industry?!
Yellen calls out "overcapacity".
What are the consequences of free competition?

拜登拉攏盟友 圍剿中國鋼鐵業?! 葉倫喊"產能過剩" 自由競爭後遺症? ｜20240330｜ @inewsplus

https://m.youtube.com/watch?v=-eTzBggdQCU

[winston]

World’s biggest steel producer warns of ‘severe’ industry crisis

China’s steel industry is facing a crisis more serious than the downturns of 2008 and 2015.

Property downturn and weaker factory activity have ravaged domestic demand this year, with prices plunging to multiyear lows and mills racking up losses.

As mills struggle, iron ore inventories are swelling, while reinforcement bar, used in construction, is cheaper than at any time since 2017.

It’s increasingly unprofitable to make steel, putting mills under pressure to cut production. Meanwhile, exports are on course to top 100 million tons, the most since 2016.

Source: Bloomberg

https://theedgemalaysia.com/node/722724

[behappyalways]

China Steel Mill Profits Collapse, Goldman Issues: "Bleak Outlook" For Iron Ore
https://www.zerohedge.com/commodities/c ... k-iron-ore

[behappyalways]

Chinese Steel Industry Warns Of 'Flash In A Pan' Recovery If Mills Ramp Production Amid Severe Slowdown
https://www.zerohedge.com/commodities/c ... mid-severe