Markets

China’s steel exports are set to fall as Trump’s trade war bites

China’s steel exports continued to rise in the first half of this year, despite the introduction of US tariffs on March 23. But CBA expects Chinese steel exports to fall in the second half of the year, amid ongoing trade fears and increased global competition. China’s steel exports just fell […]
China’s steel exports are set to fall as Trump’s trade war bites
Markets

Iron ore is getting destroyed

Iron ore futures slumped to a four-month low in China on Thursday on sliding demand and soaring stock piles in China, the world’s largest steel maker. Iron ore for September delivery on the Dalian Commodity Exchange dropped as low as 445 yuan ($88) a tonne, its weakest since January 4. […]
Iron ore is getting destroyed
Markets

China produced more steel than the rest of the world in April

For the second month in a row, China’s crude steel output was greater than the rest of the world in April. According to the World Steel Association, China produced 69.4 million tonnes of crude steel, overshadowing the 65.5 million tonnes produced in all other nations. The World Steel Association represents […]
China produced more steel than the rest of the world in April
Markets

Chinese commodity futures are tanking, including iron ore

Chinese commodity futures are tanking in early trade on Monday, including iron ore. An hour after the market opened, the most actively traded September 2016 iron ore contract on the Dalian Commodities Exchange has fallen by 4.73%, reversing a gain of more than 3% in overnight trade on Friday evening. […]
Chinese commodity futures are tanking, including iron ore
Markets

CBA: There’s a cliff ahead for surging coal prices

Underpinned by the same factor that has driven iron ore prices higher since the beginning of the year — strength in Chinese steel prices due to low inventory levels and a rebound in construction activity — coking coal has also enjoyed a stellar run of late, rallying by close to […]
CBA: There’s a cliff ahead for surging coal prices
Markets

CHART: Chinese steel production surged in March

Global steel production surged in March, fitting with recent strength in Chinese iron ore, coking coal and rebar prices. According to the World Steel Association, production jumped by 14.2% to 137 million tonnes, well above the 120 million tonnes produced in February. The World Steel Association represents approximately 85% of […]
CHART: Chinese steel production surged in March
Markets

CBA: Here’s why the unbelievable iron ore rally won’t last

The spot iron ore price has enjoyed a stellar run of late. From mid-December the price has jumped by nearly 20%, leaving the commodity on the cusp of entering a technical bull market. Helping to explain the sudden price recovery, China, the world’s largest consumer, has been busy replenishing stockpiles […]
CBA: Here’s why the unbelievable iron ore rally won’t last