Crude Steel Output News

The Baltic Exchange's main sea freight index registered its worst fall in three months on Thursday, weighed down by lower demand for coal and iron ore cargoes as steel output fell in China.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 90 points, or about 7.4%, to 1,123 points, a fresh low since Dec.

China's iron ore imports dropped in 2021, down 4.3% from the previous year's record annual high, as steel production curbs imposed to combat pollution dented demand and pulled prices of the key steelmaking material off historical highs.The world's top iron ore consumer brought in 1.12 billion tonnes of the commodity last year, compared with 1.17 billion tonnes imported in 2020, data from the General Administration showed on Friday.For December, China imported 86.07 million tonnes of the raw material…

Japan's crude steel output is expected to rise 1.9% in the January-March quarter from a year earlier, helped by a recovery in manufacturing including shipbuilding and machinery, its Ministry of Economy, Trade and Industry (METI) said last week.This would mark the fourth straight quarterly increase and bring annual output for the financial year to March 31 to 97.07 million tonnes, up 17% from a year earlier when the COVID-19 pandemic pushed production to the lowest in about 50 years.METI estimated crude steel output at 24.15 million tonnes for the three-month period…

Chinese iron ore futures fell below a key 1,000 yuan per tonne level on Thursday, falling more than 5% to their lowest in more than two months as domestic consumption remains sluggish on steel production controls.The most active iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged as much as 5.6% to 999 yuan ($154.54) per tonne, their lowest since May 27. They were down 4.6% to 1,009 yuan a tonne as of 0322 GMT."Domestic consumption (for iron ore) is weakening significantly...

Iron ore prices have suffered their worst week for nearly 18 months amid signs that the two factors needed for a sustained correction may be coming into play - Chinese steel producer discipline and a recovery in supply of ore.The main Chinese domestic iron ore benchmark, the Dalian Commodity Exchange contract, dropped around 10% in the week to July 23, the worst weekly performance since February last year.The contract ended the week at 1,126 yuan ($173.77) a tonne, and has now slid about 17% from its record high in May.Benchmark spot 62% iron ore for delivery to north China , as assessed by co

The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.4%, or 63 points, to 1,928, its highest since January 2014. The index has tripled since February. The index rose 7.2% last week for a fourth straight week, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil in June…

China's iron ore imports in April fell to the lowest level in 18 months as poor weather in Brazil, the country's second-biggest supplier, disrupted shipments and some production by miner Vale SA was halted after a mine accident.Arrivals of iron ore, a key steelmaking raw material, were 80.77 million tonnes last month, the lowest since October 2017, data from the General Administration of Customs showed on Wednesday. That compares to 86.42 million tonnes in March and 82.92 million tonnes in April 2018.For the first four months of 2019…

China's power output, a bellwether for economic activity, posted its first annual decline in more than four years in August, adding to evidence that the world's second-largest economy is losing momentum after a brief rebound in the second quarter. Power output in the world's top consumer fell 2.2 percent to 495.9 billion kilowatt hours (kWh) in August from a year earlier, data showed on Saturday. While the annual fall was in part due to the high reading last summer, when many cities were struck by a record heat wave, overall electricity production also posted its first fall in three months - a sign of slackening demand from major industrial users.

BIMCO reported that China's average daily crude steel output reached a record 2.29 million metric tons in April as steel mills lifted production to meet seasonal demand, though signs of weakness in factory output and the property sector could feed through later in the year. Steel demand in China traditionally improves in Q2 as construction and manufacturing pick up with better weather. April's crude steel output of 68.84 million metric tons was below the record high of 70.25 million metric tons in March, according to China's National Bureau of Statistics.

Steel and grain exports continue to flow from key global supplier Ukraine via Black Sea terminals with ports operating normal schedules, despite concerns raised by the tense political backdrop, officials and traders said on Tuesday. Ukraine exports grain, steel, coal, chemicals, fuel and petroleum products, machinery and transport equipment. Its ports have shipped some 22.7 million tonnes of various cargoes since the start of 2014, roughly equal to turnover by the same date a year ago. Political instability and violence had caused some traders in Ukraine, the world's third-biggest maize exporter, to hold back from agreeing new contracts, while Russian maize export prices have been rising for two weeks.

Asian Panamax rates for dry bulk cargo are likely to ease further this week on soft demand for mineral and grain shipment, with many spot vessels available for hire in the market. "There have been few fresh spot inquiries by charterers," said a shipping broker. Panamax rates for freights from the U.S. Gulf to Japan were indicated at $21.50-$22.00 a ton for March shipment, against $23.00 from a week ago, he said. The broker also put indication rates for April shipment around $22.50-$23.00 on hopes of a rise in vessel demand, as the South American grain export season starts in the same month. But no fixtures have been reported. In the market, one Japanese trading house was said to have fixed a Panamax vessel last week at $21.25 a ton to carry about 54,000 tons of heavy grain from the U.S.