Steel Makers News

The Baltic Exchange's dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 147 points, or 7.3%, to 1,875, hitting a fresh low since Nov. 23.The capesize index dropped by 350 points, or 9.7%, to 3,249, also logging its biggest daily fall since Dec. 7.Average daily earnings for capesize vessels…

The Baltic Exchange's main dry bulk sea freight index hit its highest in more than three months on Wednesday, powered mostly by gains in the larger vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels rose 55 points, or 4.5%, to 1,290, its highest level since May 24.The capesize index rose for sixth straight session, gaining 86 points, or 6.5%, to 1,416.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $716 to $11,743.Iron ore futures wer

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Friday on stronger demand in the capesize segment, but marked its first weekly decline in three.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, added 13 points, or 0.8%, to 1,558, but was down 1.1% this week.The capesize index rose 59 points, or 2.5%, to 2,384.

China is set to receive at least two cargoes of Australian coal in early February, according to traders and shiptracking data, the first since an unofficial ban on imports in place since 2020 was lifted earlier this month.Coal traders will be paying attention to how easily the shipments pass customs for signs that the informal ban is truly over and in the hopes of sending more Australian coal to China.Australian thermal coal for power generation and metallurgical coal for steelmaking are favoured by Chinese consumers for their high-quality. China's coal demand is forecast to rise in the upcoming months amid an expected economic rebound after Beijing rolled back its draconian zero-COVID strategy.

The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.The lifting of the unofficial ban on Australian coal imports, which were halted in 2020 in a fit of Chinese pique over questions on COVID's origins, is the clearest sign yet of the renewed ties between them. The resumption is also a reminder of their economic interdependence as Australia's raw materials play a crucial role in fuelling the export-oriented economy of China…

Talk that China may end its unofficial ban on imports of Australian coal is unlikely to result in any significant increase in shipments to the world's biggest coal buyer.Media reports last week suggested that Beijing is considering lifting the informal embargo, put in place in the second half of 2020 as tensions escalated with Canberra over a series of issues.Coal wasn't the only commodity affected, as China placed restrictions or bans on imports of barley, seafood and wine, among others.The unofficial ban was effective, with Australia going from being China's biggest supplier of coal in July

The Baltic Exchange's main sea freight index hit a near two-week low on Monday, hurt by lower rates across vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was down 36 points, or 1.5%, at 2,295 points, its lowest since June 14.The capesize index lost 64 points, or 2.7%, at 2,332 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $539 to $19,336.However, Dalian and Singapore iron ore futures hit one-week highs on Monday, supported by hopes that Chinese st

Global seaborne coal trade rose by 5.7% last year, driven by rising demand from steelmakers for coking coal and its products as economies began to recover from the coronavirus crisis, Germany's VDKi coal importers lobby group said.Imports and exports of hard coal across the globe stood at 1.18 billion tons in 2021, up from 1.116 billion in 2020, the Verein der Kohlenimporteure (VDKi) estimated.Trade in coking coal rose by 6% to 903 million tons while that of steam coal for power stations was up 4.9% at 277 million tons…

Heavy rainfall in southeastern Brazil has prompted miners including Vale SA to suspend some operations, they said on Monday, after downpours caused deadly floods in the northeast and threatened to delay harvests in the midwest.Rainfall is expected to remain heavy this week in most of top mining state Minas Gerais, after runoff closed roads and railways.The rains may also have contributed to the dramatic collapse of a canyon rock face in the state on Saturday, killing 10 people visiting a waterfall on boats.In the northeastern state of Bahia…

The Baltic Exchange's dry bulk sea freight index rose for a fourth straight session on Tuesday to its highest level in a week as rates rose across its vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 70 points, or 2.7%, to 2,715 points.The capesize index rose 171 points, or 4.4%, to 4,055, its highest in more than three weeks.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose $1,421 to $33,631.China's benchmark iron ore futures surged on Tuesday as steelmakers were set to resume

China’s iron ore imports slipped 1.7% in October from a month earlier, but still hovered well above 100 million tonnes, official customs data showed on Saturday, propped up by firm demand at Chinese mills and shipments from major miners.The world’s top iron ore consumer imported 106.74 million tonnes of the steelmaking ingredient in October, 14.9% more than in October 2019, but still below the 108.55 million tonnes brought in during September, according to data from the General Administration of Customs.For the first 10 months of 2020…

India's steel exports more than doubled between April and July to hit their highest level in at least six years, boosted by a surge of Chinese buying in defiance of tensions between Beijing and New Delhi.Traders said reduced prices had driven the purchases as Indian sellers sought to get rid of a surplus generated by the impact of COVID-19 on domestic demand and generate much-needed income.It was unclear whether the sales broke any trade rules, but the China Iron and Steel Association…

China's iron ore imports in April rose 11.4% from a month earlier on robust demand from steelmakers, as downstream sectors started to emerge from lockdowns to contain the coronavirus epidemic.Arrivals of the steelmaking ingredient were 95.71 million tonnes last month, data released on Thursday by the General Administration of Customs showed.That compares with imports of 85.91 million tonnes in March and 80.77 million tonnes a year earlier, when shipments from Brazil's top miner Vale SA were disrupted after a tailings dam disaster.In the first four months of 2020…

The seaborne iron ore market appears to be in something of a sweet spot currently, with largely steady demand and prices that have been flatlining for the past couple of months. Of course, another way of saying that a market is enjoying relatively stable and good times is that it's boring, but in iron ore there is plenty of action bubbling beneath the seemingly calm exterior. It's not so much that iron ore prices or volumes are expected to shift dramatically in the coming months, it's more that structural changes in the world's biggest importer, China, are re-shaping how the industry works.

Cargo moved by U.S.-flag Great Lakes freighters in March decreased 13 percent compared to a year ago, the Lake Carriers’ Association reported. However, the March float of 1.8 million tons topped the month’s five-year average by more than 15 percent.Iron ore cargos for steel production dominated the month. Cargos totaled 1.4 million tons, a decrease of 17 percent. That no iron ore moved from Escanaba, Mich., is a factor in the decrease. That port used to resume iron ore shipments in early to mid-March. However, the mine that shipped through Escanaba has been indefinitely idled.

Mexico's economy ministry said on Thursday it formally imposed anti-dumping duties on imports of carbon steel pipe from China after completing an investigation into "unfair" trade practices. The action came the same day U.S. President Donald Trump was set to announce tariffs on steel and aluminum imports to the United States in a bid to counter cheap imports, especially from China. Mexico's investigation of Chinese steel pipes predated Trump's tariff plan, beginning in December 2016 at the request of three companies and covering an analysis of the period from May 2013 to April 2016…

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China. Trump, speaking after a meeting with U.S. steel and aluminum makers said the duties would be formally announced next week. “We’re going to build our steel industry back and our aluminum industry back," he said. News of the tariffs drove the stocks of U.S.

U.S. President-elect Donald Trump on Tuesday named Robert Lighthizer, an official in the Reagan administration and harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Trump, who promised during his presidential campaign to renegotiate international trade deals like NAFTA and punish companies that ship work overseas, said in announcing his choice that Lighthizer would help "fight for good trade deals that put the American worker first."Lighthizer is a former deputy U.S.

A new study commissioned by the U.S. Treasury Department lists modernization of the locks at Sault Ste. Marie, Mich., as one of the 40 American transportation and water “megaprojects” that could bring as much as $1.3 trillion in national economic benefits. The system resiliency that a second Poe-sized lock will provide has an estimated net economic benefit of as much as $1.7 billion, according to the study. The Soo Locks connect Lake Superior to the lower four Great Lakes and St. Lawrence Seaway. Lake Superior is home to five iron ore loading ports, as well as the largest coal and grain shipping ports. Without the locks at Sault Ste. Marie, those cargos could not reach steelmakers, utilities and overseas markets. As the study notes, more than 60 percent of the current U.S.

A fleet of North Korean cargo ships is heading home to the port of Nampo, the majority of it fully laden, after China ordered its trading companies to return coal from the isolated country, shipping data shows. Following repeated missile tests that drew international criticism, China banned all imports of North Korean coal on Feb. 26, cutting off the country's most important export product. To curb coal traffic between the two countries, China's customs department issued an official order on April 7 telling trading companies to return their North Korean coal cargoes, said three trading sources with direct knowledge of the order. U.S. President Donald Trump and Chinese President Xi Jinping were discussing North Korea at Trump's Mar-a-Lago resort on April 7.

Japanese steelmakers have bought coking coal from the United States, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said. Still, the Japanese buyers are paying nearly double the $150 a tonnes price that they were discussing with sellers for second-quarter supply before the supply disruption. The supply talks are now on hold and prices will likely stay high until full volumes start flowing again. In 2016, Japan bought about 71 percent of the 59.9 million tonnes of coking coal it consumed from Australia. "We've tapped supplies by bringing forward shipping schedules of cargos from Canada and the United States…

U.S.-flag Great Lakes freighters (lakers) moved 9.5 million tons of cargo in May, a virtual repeat of a year ago, the Lake Carriers’ Association (LCA) reported. The float totaled 9,496,663 tons this May and 9,473,709 tons a year ago. This May’s shipments were, however, down 5 percent from the month’s long-term average. Iron ore cargos for steelmakers totaled 4.9 million tons, an increase of 4 percent compared to a year ago. Coal loadings were little changed in May. Shipments totaled 1,435,400 tons, an increase of 36,953 tons. Limestone cargos hauled in U.S.