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Vale’s 4Q20 iron ore production lower than estimated
Vale reported 4Q20 production of 84.5Mt, below analysts' estimates, mainly due to higher rainfall and tailings disposal restrictions in Brazil's southeastern system. The number is down 5% from the third quarter (88.6Mt) but well above the same period last year...
Chinese New Year could increase steel consumption
The Chinese New Year is only a week away, taking place from 11 to 17 February, usually a sacred period for family unions. But unlike other years, this year migrant workers in China's major urban centres will be encouraged by the central government to stay where they...
Japanese ferrous scrap exports hit an 11-year high
Japan's ferrous scrap exports hit an 11-year high of 9.1 million tonnes in 2020, posting a 23% year-on-year surge. This rise was driven by increased demand from Bangladesh, Vietnam and Taiwan. Japanese exports increased significantly by 11% month-on-month to 0.73...
Iron ore fundamentals could improve in 2021
China's iron ore market fundamentals are expected to improve this year from 2020, according to the China Iron & Steel Association (CISA), summarising the performance of China's steel industry for 2020, reporting that the country's demand is likely to soften due to...