CHINA STEEL MARKET INSIGHT: Turbulent times ahead for iron ore

With port stocks high and prices tumbling, the iron ore market could be in for a turbulent time as China's economy slows down ahead of the winter.

But despite environmental initiatives to curb pollution, the much anticipated downturn in the steel industry has yet to gain momentum and steelmaker margins remain high as output has continued to grow.

However, all eyes will now be on the upcoming Communist Party congress later this month, which could herald some major changes to China’s economic outlook and policies.

In the October edition of China Steel Market Insight, which you can view here, we look at key activities affecting the Chinese steelmaking market, including:

• The macro-economic environment
• The end-user steel markets, and
• Production volumes and pricing data on the iron ore, HRC and rebar markets.

What to read next
The suspension of South32’s manganese ore operations at Groote Eylandt Mining Co (GEMCO) in Australia has been changing demand patterns among manganese ore buyers in Asia and this will benefit other manganese ore miners, market participants said on Wednesday April 24
The Brazilian Executive Management Committee for the Foreign Trade Chamber (Gecex-Camex) decided to increase steel import duties during one year to 25%, while establishing import volume quotas for 11 steel products, according to a document published on Tuesday April 23
Fastmarkets will discontinue its lithium contract price assessments, effective October 2024.
The global decarbonization drive is turning electrical steel into one of China's key ferrous products, with electrical steel exports surging in recent years, sources told Fastmarkets
China’s National Development and Reform Commission (NDRC) will work with relevant parties to regulate crude steel production, with a focus on energy saving and reducing carbon emissions. It will also release guidance on crude steel output for different steel mills later this year after a national investigation on steel capacity
The low-carbon aluminium differential in the US made its first move on Friday April 5 since Fastmarkets launched it five months ago.