Slow Steel Demand in China Weighs on Iron Ore
Reuters reported sluggish steel demand in China is pushing the price of iron ore to lower prices since December.
Reuters reported sluggish steel demand in China is pushing the price of iron ore to lower prices since December.
IBTimes reported India's Essar (BOM:533149) has announced it is using a low-grade iron ore for its steel making production.
AK Steel (NYSE:AKS) announced it has formed a joint venture with an existing company that will produce iron ore concentrate.
Mining Weekly reported Vale (NYSE:VALE,SAO:VALE5) it has started a demonstration plant to test and further develop technology which can produce pig iron.
Bloomberg reported OAO Magnitogorsk Iron & Steel (RTC:MAGN) formed a mining unit in Luxembourg, called MMK-Mining Assets Management SA.
Platts reported China's steel output at higher than officially reported figures is supporting high seaborne iron ore prices, not overbuying by traders.
Reuters Africa reports Shanghai rebar futures rose again with expected demand to continue from construction in China.
Reuters Africa reports Shanghai rebar futures fell over 1 percent to a more than one-month low in reaction to Standard and Poors downgrading of the US.
Reuters Africa reports Shanghai rebar futures hit one-week lows on Tuesday as a deadly train accident over the weekend fanned investors' concerns.
Bloomberg reports that Metinvest is planning to increase steel production through the next year after completing a deal with MMK Ilyich.
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