Friday 18 April 2014
 
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iron ore

Sabic plans to lift steel capacity to 10m tonnes

Saudi Iron and Steel Co (Hadeed), the metals affiliate of Saudi Basic Industries Corp (Sabic), plans to add 4 million tonnes of annual steel output capacity to reach 10 million tonnes by 2025, an executive said. "Sabic's

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Iran boosts iron exports to China, India

Iran is raising its exports of iron ore and iron products to China and India in an attempt to replace at least a small part of the massive revenue that has been lost due to sanctions on its oil sales.   While Ira

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China to scrap iron ore import licence system

China plans to scrap its decade-old iron ore import licensing system this year, an industry source said on Thursday, a move that may further lift imports in a market that takes two-thirds of the world's international iron ore trade.

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Emirates Steel inks iron ore supply contract

Emirates Steel Industries, a subsidiary of Abu Dhabi Basic Industries Corporation (Adbic), said it has signed a sales contract with Sweden’s LKAB to source quality iron ore pellets beginning 2013. LKAB is an international high-tec

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China may cut Iran iron imports

China is likely to reduce the amount of iron ore it buys from Iran from March due to concerns that sanctions may disrupt exports worth over $2 billion a year to the world's largest consumer of the raw material, traders said on Wednesday.

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Iron ore derivative volumes hit new record

The volume of iron ore derivative contracts cleared using The Steel Index (TSI’s) iron ore price index hit a new record of over 6.6 million tonnes in August registering an increase of over 50 per cent on the previous monthly record set in July.

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Gulf steel mills struggle as ore prices soar

Steel producers in the Gulf region, wary of a surge in iron ore prices, have urged mills to cut production until prices level off, industry executives said on Wednesday.    "People in the region are reluctant to purchase st

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China 'facing huge iron ore benchmark hike'

Chinese steel mills are facing massive difficulties during this year's annual iron ore benchmark talks with big price hikes set to push many of them into the red, the head of China's third biggest steel firm, Wuhan Iron & Steel Group, said on

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Rio case frightens Chinese analysts

China's detention of steel executives suspected of leaking state secrets could reduce the flow of market information in China as analysts and researchers self-censor to avoid trouble. A senior executive at Shougang, China's eighth-largest

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London Mining eyes 20m tonnes ore from Saudi

Iron ore miner London Mining, is targeting annual production of nearly 20 million metric tonnes of iron ore from its joint venture in Saudi Arabia, a report said. The company said that its JV firm Saudi London Iron, has received approval f

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