News summary
ArcelorMittal South Africa plans to replace blast furnaces to reduce carbon emissionslargestpowerballjackpoteverThe electric arc furnace is expected to be put into operation in 2028. MaxResource plans to purchase the JaguarMining Florália iron ore project in Brazil, with estimated reserves of 8 million tons to 12 million tons. The International Energy Agency predicts that the market size of key minerals will grow to US$770 billion by 2040. Iron ore inventories at China's 45 ports have increased, and steel mills have replenished warehouses on demand. Short-term iron ore prices may remain volatile.
Newsletter text
The iron ore futures market showed a slight increase, and the iron ore 2409 main contract recorded a gain of 1.1 per cent on the daylargestpowerballjackpotever.68%, closing at 908 points, close to the highest of 909.5.
Carbon reduction investment trends ArcelorMittal South Africa plans to upgrade the blast furnace in the Vanderbijlpark area. It is expected to add new electric arc furnaces in the third quarter of 2028. It also studies the feasibility of using natural gas to produce direct reduced iron projects in the Saldanhade area.
New mining rights transaction outlook MaxResource intends to purchase JaguarMining's Florália iron ore project in Brazil, which is located in an area with complete infrastructure and has estimated reserves of between 8 million tons and 12 million tons, with an iron grade of 58%.
Global key mineral price dynamics According to the International Energy Agency, global key mineral prices fell sharply last year, but the risk of future supply constraints still exists. The total market size is expected to exceed US$770 billion by 2040.
Iron ore shipments in Australia and Brazil increased slightly. From May 13 to 19, the total shipments from Australia and Brazil were 24.556 million tons, an increase of 100,000 tons month-on-month, of which China imported 15.173 million tons of ore.
China's iron ore imports increased slightly. In April, China imported 101.818 million tons of iron ore and concentrates, a month-on-month increase of 1.1%; cumulative imports in the first four months increased by 7.2% year-on-year.
Changes in port inventories and port evacuation volume As of May 17, imported iron ore inventories at 45 ports increased by 1.3056 million tons to 148.0579 million tons, and the average daily port evacuation volume increased by 42,900 tons month-on-month to 3.0698 million tons.
Blast furnace operating rate and molten iron output grew steadily. Last week, the blast furnace operating rate of 247 steel mills remained at 81.5%, and capacity utilization rate and average daily molten iron output continued to increase month-on-month.
Changes in crude steel, pig iron and steel output From January to April, my country's crude steel, pig iron and steel output decreased slightly year-on-year, but steel output increased by 2.9% year-on-year; the average daily output in April increased slightly month-on-month, and decreased year-on-year.
Analysis of iron ore supply and demand situation At present, the supply side of iron ore has increased slightly, while the demand side is affected by the contraction of steel mill profits. However, favorable macro policies may bring demand resilience, and the market may remain volatile in the short term.