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Iron-ore prices extended declines on June 23 to hit a nearly four-month low, weighed down by prospects of rising shipments from major suppliers and seasonally sagging steel demand. The most-traded iron-ore contract on China's Dalian Commodity Exchange fell 0.74% to 737 yuan a ton, while the benchmark July iron-ore on the Singapore Exchange was down 0.45% at $97.8 a ton, its lowest since February 25.
South African steel shortage and tariffs drive up infrastructure project costsThe gap in local supply of lighter long steel products, following the closure of ArcelorMittal South Africa's Newcastle Works in November last year, compounded by tariffs, has significantly affected infrastructure projects and stakeholders in the steel value chain. The Southern African Institute of Steel Construction says the International Trade Administration Commission of South Africa's introducing anti-dumping tariffs on long products that are no longer locally produced has pushed steel input costs upward across the board, with tariff rates on many products rising to the legally permissible 15% maximum import tariff rate alongside additional safeguard duties.
China's coking coal imports set to rise after Shanxi mine disasterChina's imports of coking coal are set to rise further this year after a fatal mine accident reduced domestic supply, with 155 coal mines in Shanxi province shut for safety checks following the accident in late May. Chinese importers have turned to producers such as Canada and Australia for delivery in June and July, with traders expecting a shortage of 20-million to 30-million tons even after the plants restart.
Steel Updates
Iron-ore prices extended declines on Tuesday to hit a nearly four-month low, weighed down by prospects of rising shipments from major suppliers in the run-up to the end of the second quarter and...
India has swung to buying Russian crude oil and coal to bolster its energy supplies after flows were disrupted and prices rose during the Iran conflict. The world's third-largest oil importer is...
Industry organisations the Recycling Association of South Africa (Rasa) and the Metal Recylers Association (MRA) have called on Trade, Industry, and Competition Minister Parks Tau, the...
China's coking coal futures prices extended their decline on Monday, weighed down by prospects of rising supply amid continued production resumption after a deadly mine accident in coal-rich Shanxi...
Industry association the Steel and Engineering Industries Federation of Southern Africa (Seifsa) has welcomed the recent launch by the Department of Trade, Industry and Competition (dtic) of South...
China's imports of coking coal, a steelmaking ingredient, are set to rise further this year after a fatal mine accident reduced domestic supply, traders said. Chinese importers have turned to...
The gap in local supply of lighter long steel products, following the closure of steel producer ArcelorMittal South Africa’s Newcastle Works in November last year, compounded by tariffs, has...
Construction costs across the Western Cape are becoming increasingly unpredictable. Currency volatility, global supply chain disruptions, rising fuel prices and escalating logistics costs are...
The most persistently bullish part of the commodities sector in recent years has been metals associated with the energy transition, such as copper, lithium and rare earth elements. Iron-ore miners...
Australia's iron-ore miners emphasised on Tuesday how growing steel demand in India and Southeast Asia would help offset the stagnating market in top customer China, where they also face pressure...
The International Trade Administration Commission of South Africa (Itac) has recommended the imposition of safeguard measures on imports of corrosion resistant steel coil products for a period of...
India's State-owned Steel Authority of India (SAIL) and NMDC are exploring acquisitions of coking coal assets in Russia as New Delhi seeks to secure supplies of critical raw materials, Indian...
Trade, Industry and Competition Minister Parks Tau says the themes of decarbonisation, diversification, and digitalisation will now anchor South Africa’s Industrial Development Strategy, following...
Electricity and Energy Minister Dr Kgosientsho Ramokgopa has indicated that he intends approaching Cabinet in the coming weeks to seek approval to extend concessional electricity tariffs similar to...
Iron-ore is the one major commodity that is sailing unaffected through the storm created by the US/Israeli war on Iran, but the relative calm masks shifting dynamics for the key steel raw...
The South African steel industry – encompassing the full value chain, from upstream producers to downstream manufacturers and fabricators – has been described as being at a deindustrialisation...
South Africa has officially raised import protection across a wide range of upstream and downstream steel products by between 10% and 30% – rates that are in line with the World Trade Organisation...
Iron-ore prices slid on Thursday to record their biggest daily losses in nearly two months, weighed down by rising concerns about demand in top consumer China as steel margins shrink and steel...
JSE-listed steel producer ArcelorMittal South Africa (AMSA) has reiterated that it, the ArcelorMittal Group and the Industrial Development Corporation of South Africa (IDC) continue to engage about...
As global scrutiny intensifies, mining companies are faced with a seemingly insurmountable task; ensuring their environmental, social, and governance (ESG) pledges translate into measurable and...
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