Lakshmi Mittal expects 2-3% rise in global steel demand in 2013
ArcelorMittal chairman and ceo Lakshmi Mittal expects global demand for steel to pick up in 2013.
Escalating internal conflict threatens Mali’s iron ore exports
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An escalation in fighting between rebel groups and government forces in the West African nation of Mali is threatening iron ore exports from the country, according to local miners and political observers
Last week’s spot iron ore price drama saw the index rise to $159.51 per tonne on Tuesday
China’s imported metallurgical coal market saw prices firming up slightly for the week ending January 11, traders told Steel First.
A 20,000-tonne cargo of Russian coking coal with 11% ash, 35% volatile matter and 0.3% sulphur was heard offered at $140 per tonne cfr China. The cargo is expected to load at the end of this month.
A 70,000-tonne cargo of Colombian coking coal with 10% ash, 10% moisture, 28% volatile matter and 0.5% sulphur was offered at $160 per tonne cfr China. It is expected to load at the end of February.
Two traders said, however, that these offers were too high, and suggested that they would only be willing to buy the cargo at about $10 per tonne lower than the prices put forward.
“The laycan time is still some time away. It’s a question of how the market will be like at the time,” said a Rizhao-based trader.
Another 70,000-tonne cargo of Australian pulverised coal injection (PCI) coal with 9% ash, 13% volatile matter and 0.5-0.6% sulphur was heard offered at $145-147 per tonne cfr China.
“I think generally the sentiment is still improving. Iron ore [price] has been going up, but coking coal has not been keeping pace with that,” a Singapore-based trader said.
“Fundamentally I don’t see any change, [coking coal] is just catching up with the iron ore prices,” he added.
Premium hard coking coal stood at about $160 per tonne fob Australia this week, about $2 per tonne higher than levels seen last week.
Earlier this month, a 170,000-tonne cargo of Australian semi-hard coking coal with close to 10% ash, 25% volatile matter, less than 0.5% sulphur and a crucible swell number (CSN) of 7.5 was traded at $150 per tonne cfr China.
Another 90,000-tonne cargo of Indonesian semi-soft coking coal with 6% ash, 40% volatile matter, 0.9% sulphur and a CSN of 2-3 was traded at $120 per tonne cfr China.