Iron ore faces renewed pressure and risks going back to the 60s again as China's economy shows signs of cooling and global production increases, while planned cuts in steel capacity for the world's largest consumer this winter could be even greater. reduce demand.
Qingdao's 62 percent iron ore fell 2.5 percent to $ 72.13 a tonne on Friday, the lowest level since July 28, increasing losses 3.4 percent the previous day, the highest since May, which almost reached $ 80 in August, posted its first weekly decline versus June.
Steel raw materials are in retreat after many negative outlooks. Industrial products and retail reports from China this week suggested unexpectedly slower growth rates. In addition, shrinking pollution abatement capacity in Asia's largest economy threatens consumption, and further expansion of mine supplies from Brazil and Australia is also threatening prices.
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Metallurgy news
- 30 June 2025
19:00 Main metric capitalization: 577M (a year ago was 3 times more) 18:00 In 2025, China, the world leader in the production of alumina, increased its export to Russia by 16% to the level of 2024. In May, Russia purchased a record 183 thousand 12:00 Evraz received the OFSI license to sell the North American business 11:00 The program "Factory of Ideas" celebrated the 13th anniversary 10:00 "Sword" - salvation of drowning 10:00 However, while reducing coal production in the Russian market continues, the ruble will weaken and the key interest rate will decrease further. 08:00 The cost of electricity for industrial companies from July 1 will increase by more than 20% due to increased sales allowance 08:00 CMACP has identified sectors of the Russian economy that are under financial stress
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