Markets

Chinese commodity futures just got crushed

Chinese bulk commodity futures endured another bloodbath on Monday, recording falls of 5% or more. The most actively traded September 2016 iron ore future on the Dalian Commodities Exchange finished the session at 353 yuan, representing a decline of 4.97%. Earlier in the day it traded down to 350 yuan, […]
Chinese commodity futures just got crushed
Markets

Macquarie thinks this is the chart to watch for the global steel outlook

On the back of a resurgent property sector, Chinese steel production staged a dramatic recovery last month, rising by close to 100 million tonnes on an annualised basis according to analysis from Macquarie Capital, the third largest gain on record. Despite continued weakness in Chinese steel demand, the rapid acceleration […]
Macquarie thinks this is the chart to watch for the global steel outlook
Markets

This map shows the grim outlook for steel demand around the world

After falling 3.0% last year, global steel demand is tipped to contract even further this year before stabilising in 2017. That’s the view of the World Steel Association in its latest semi-annual short range outlook report released overnight with the group forecasting that global steel demand will slip by a […]
This map shows the grim outlook for steel demand around the world
Markets

China’s steel industry is racking up enormous losses

Plagued by overcapacity and weakening demand, Chinese steelmakers continued to endure hefty losses in the first 11 months of 2015. According to Chinese news agency Xinhua, citing data provided by the China Iron and Steel Association (CISA), large and medium-sized steel mills suffered losses of 53.1 billion yuan ($8.18 billion) […]
China’s steel industry is racking up enormous losses
Markets

The big iron ore miners are back to a risky strategy

Last week the benchmark spot iron ore price fell to the lowest level on record, taking prices back to levels seen nearly a decade ago. From the start of this year, prices have tumbled more than 45% according to Metal Bulletin, creating trouble for not only Australia’s government revenues but […]
The big iron ore miners are back to a risky strategy
Markets

Chinese steelmakers continue to rack up massive losses

Large and medium-sized Chinese steel mills suffered huge losses in the first 10 months of 2015 as weakening demand, overcapacity and lower steel prices wreaked havoc on the sector. According to China’s state-run news agency Xinhua, citing data from the China Iron and Steel Association (CISA), losses at large and […]
Chinese steelmakers continue to rack up massive losses
Markets

Just when you thought iron ore prices couldn’t get any worse…

On Friday, the spot price for benchmark 62% iron ore fines fell to another fresh record low. According to Metal Bulletin, the price fell by 1.77% to $40.03, extending this year’s decline to 43.8%. From October 12 alone the price has fallen close to 30%, largely due to tepid demand […]
Just when you thought iron ore prices couldn’t get any worse…