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Carbon coke substituted for iron ore on transport ships
Amid low demand for iron ore in China, traders have begun using bulk carriers that previously carried iron ore on new routes to transport coal as the world grapples with an energy crisis and rising coal demand and prices. Iron ore demand in China is weak this year due...
Rio Tinto and China Minerals Resources sign MoM
Rio Tinto and China Minerals Resources Group signed a memorandum of understanding for strategic cooperation during the ongoing fifth China International Import Expo in Shanghai. he MOU focuses on areas of mutual cooperation related to iron ore and steel value chains,...
Steel: JSW Steel expects exports to fall to 5-year lows
India's JSW Steel Ltd expects its exports to fall to a more than five-year low, at 10 percent of total sales, in the fiscal year ending March 2023, due to slowing global demand and an export tax. India's largest steel producer by capacity plans to sell 24 million tons...
ArcelorMittal’s net income plummets 78 percent in third quarter
ArcelorMittal, the world's second-largest steel producer, saw its net profit plummet 78 percent in the third quarter of 2022, due to falling metal prices from the "exceptional" levels of the post-Covid recovery and soaring energy prices. The global steel market is...