STEEL INDUSTRY AND TRADE – CHINA

China’s iron ore imports slump 13pc

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Original article by Angus Grigg
The Australian Financial Review – Page: 10 : 9-May-17

China’s iron ore imports fell by 13 per cent in April 2017, according to figures released on 8 May. Australia supplies around 65 per cent of China’s iron ore, and Xu Xiangchun of MySteel said the fall in April could in part be attributed to poor weather in Australia in March. China’s iron ore stockpiles rose to a record 135 million tonnes in the week ending 5 May, while steel production for the March quarter rose 4.6 per cent to 201.1 million tonnes.

CORPORATES
MYSTEEL.COM LIMITED, CHINA. GENERAL ADMINISTRATION OF CUSTOMS, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Iron ore price begins slow descent to ‘normal’

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Original article by Tess Ingram, Lisa Murray
The Australian Financial Review – Page: 17 & 28 : 24-Mar-17

The spot price of iron ore in China has fallen by 7.7 per cent in two days, reaching a low of $US84.99 per tonne. SteelHome’s Du Hongfeng has attributed the fall to a downturn in the price of construction steel in China, which has in turn been prompted by moves by some Chinese cities to introduce stricter regulations for property speculators. Vivek Dhar of the Commonwealth Bank anticipates a "gradual" decline in the iron ore price, forecasting that it will fall to around $US60/tonne by the end of 2017.

CORPORATES
STEELHOME, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD, CITIC LIMITED, BHP BILLITON LIMITED – ASX BHP

Rio iron ore growth slows on China move

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Original article by Peter Ker
The Australian Financial Review – Page: 17 & 23 : 25-Nov-16

Rio Tinto CEO Jean Sebastien Jacques says uncertainty regarding the Chinese Government’s restructuring of state-owned enterprises means that China’s steel production is now unlikely to peak at one billion tonnes per year. He also notes that China’s iron ore production is believed to have risen to between 260 and 270 million tonnes a year, and the supply-demand equation would be significantly changed if China’s annual output reached full capacity of 400 million tonnes. Meanwhile, Rio Tinto may not achieve its annual export target of 360 million tonnes before 2019, although it expects shipments in 2017 to be between 330 million and 340 million tonnes.

CORPORATES
RIO TINTO LIMITED – ASX RIO, VALE SA, UBS HOLDINGS PTY LTD, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Ore fears as China steel hits its peak

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Original article by Rowan Callick
The Australian – Page: 17 & 18 : 12-Sep-16

China Metallurgical Industry Planning & Research Institute president Li Xinchuang expects the iron ore price to remain within a range of $US50 to $US60 per tonne for some time. He also says steel production in China peaked in 2014, when output totalled 823 million tonnes. Steel production fell to 804 million tonnes in 2015. Meanwhile, China’s steel exports have risen in recent years while domestic consumption has declined, while Li has criticised the Australian Government’s recent stance on Chinese investment.

CORPORATES
CHINA METALLURGICAL INDUSTRY PLANNING AND RESEARCH INSTITUTE, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA

Fortescue welcomes plans on China steel

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Original article by Tess Ingram, Peter Ker
The Australian Financial Review – Page: 20 : 4-Aug-16

Fortescue Metals Group CEO Nev Power says proposed mergers between large state-owned Chinese steel-makers would benefit the global iron ore industry. He notes that it is in Fortescue’s interests for buyers of its iron ore to have increased profitability and efficiency. Power adds that Rio Tinto’s move to ramp up investment in its Silvergrass iron ore mine had been expected, as the resources giant needs the additional output to maintain production of its premium "Pilbara blend".

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, WUHAN IRON AND STEEL (GROUP) COMPANY LIMITED, SHANGHAI BAOSTEEL GROUP CORPORATION, DIGGERS AND DEALERS FORUM, EVOLUTION MINING LIMITED – ASX EVN, HEBEI JINXI IRON AND STEEL COMPANY LIMITED, SHOUGANG GROUP

Goldman says iron ore imports into China to fall off

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Original article by Jasmine Ng
The Australian Financial Review – Page: 25 : 4-Jul-16

A new report from Goldman Sachs forecasts a two per cent decline in China’s steel consumption in both 2017 and 2018. The investment bank also recently forecast that China’s iron ore imports will total 971 million tonnes in 2016, compared with 953 million tonnes in 2015. Iron ore imports are tipped to rise slightly in 2017, followed by a decline in subsequent years. Meanwhile, Goldman Sachs has maintained its long-term forecast of $US35 per tonne for iron ore.

CORPORATES
THE GOLDMAN SACHS GROUP INCORPORATED, METAL BULLETIN LIMITED, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, VALE SA

Fortescue Metals chief says iron ore price is stabilising

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 13 : 8-Apr-16

The price of iron ore for delivery to the port of Qingdao in China was trading at around $US55 per tonne in early April 2016. Fortescue Metals Group CEO Nev Power believes that the price of the steel input may be at or near its bottom and is likely to stabilise. Meanwhile, Power expects annual demand for steel in China of around 800 million tonnes and he is upbeat about the outlook for the Chinese economy. He also says the group’s blended iron ore joint venture with Vale should be finalised within 3-4 months.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, CREDIT SUISSE AG, McKINSEY AND COMPANY, BHP BILLITON LIMITED – ASX BHP, ROY HILL HOLDINGS PTY LTD

Cut in steel production a new blow for miners

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Original article by Scott Murdoch, Wang Yuanyuan
The Australian – Page: 15 : 12-Jan-16

The Chinese province of Hebei will reduce its iron and steel production by 10 million tonnes and eight million tonnes respectively in 2016. Hebei accounts for about 25 per cent of the nation’s iron and steel production, as well as the bulk of the iron ore exported from Australia to mainland China. The production cutbacks have been attributed to factors such as an oversupply and an attempt to address the issue of pollution in China.

CORPORATES
XINHUA NEWS AGENCY, TSINGHUA UNIVERSITY, CHINA METALLURGICAL INDUSTRY PLANNING AND RESEARCH INSTITUTE

Iron ore resumes slide, falling to fresh record low

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Original article by
The Australian Financial Review – Page: Online : 11-Dec-15

The price of iron ore with 62 per cent content delivered to the port of Qingdao in China has fallen by 1.4 per cent to $US38.52 per dry ton. Falling demand for iron ore in China’s steel industry is likely to put further downward pressure on the iron ore price, with a number of Chinese steel mills having closed down or scaled back production in recent months.

CORPORATES
PORT OF QINGDAO, METAL BULLETIN LIMITED, DALIAN COMMODITY EXCHANGE, PORT OF TIANJIN, THE STEEL INDEX LIMITED, THE GOLDMAN SACHS GROUP INCORPORATED, SHANGHAI FUTURES EXCHANGE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ROY HILL IRON ORE PTY LTD, MARUBENI CORPORATION

Rio urges long game on China iron ore need

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 19-Jun-15

China’s production of crude steel fell by 1.7 per cent in the March 2015 quarter, with a slowdown in the nation’s residential property market adversely affecting demand for steel. Andrew Harding, the CEO of Rio Tinto’s iron ore division, forecasts that demand for steel in China will remain subdued for the next few years. However, he is upbeat about the outlook for both iron ore and steel in the long-term, due to future strong demand in China and other parts of Asia.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, CHINA IRON AND STEEL INDUSTRY ASSOCIATION, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI