Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Chinese mining enterprises boosted iron ore production by 15.3% from January to March 2024 compared to the same period in 2023, reaching 284.1 million tonnes (MT). This is supported by statistics from the National Bureau of Statistics. Chinese mining enterprises produced 14.5% more ore in March 2024 than in March 2023.
Despite an uptrend following the recent Chinese holidays, iron ore prices fell in March as commodities futures rose and mood improved. The use of iron ore decreased due to the steel demand not being as robust as anticipated. Commodity prices in March were negatively impacted by increased ore production in China's domestic market.
Imports of iron ore by Chinese steelmakers in Q1 of 2024 increased by 5.5% y-o-y to 310.13 MT. In March, imports increased by 0.5% y-o-y to 100.72 MT.
The figure rose amid increased demand among steelmakers after the holiday season. In addition, the market had predicted an increase in production in March, but demand was much weaker than expected, which, together with high imports, increased stocks in ports and sent raw material prices down.
In March, iron ore stocks in major Chinese ports increased by 5.3% m-o-m to 142.1 MT, the highest level since the end of February 2023, while iron ore prices fell by more than 13%. Imports are expected to grow further in April.
Also Read : Indian Steel Sector Calls For Tariff Adjustments To Curb Import Surge Iron ore prices fall on disappointing China statistics, uncertain near-term demand outlook
Titagarh Rail on Sunday, February 17, said it has received an order from the Ministry of Defence to...
Logistics 17-Feb-2024
In order to protect domestic players, the investigation arm of the commerce ministry, DGTR, recommen...
Business 25-Jun-2024
JSW Steel Records 8% YoY Surge in May 2025 Production Volumes JSW Steel, one of India’s leadi...
Large Corporate 09-Jun-2025
✅ Steel prices up as safeguard duty fears rise.✅ Potential 15% duty may protect domestic producers...
Business 18-Mar-2025
Nickel prices in London started March lower on Friday as gloomy manufacturing data from China weighe...
Non-Ferrous 01-Mar-2024
SAIL Powers INS Arnala with Indigenous Steel The Steel Authority of India Limited (SAIL) has suppli...
Announcement 19-Jun-2025