Rio Tinto released its Q1 production results; and the Pilbara Ports Authority reported March shipping figures.
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US steel capacity utilization up to 78.0%
Pavel Ignatov/Adobe Stock
The US steel capacity utilization rate for the week ending April 17 reached 78.0%, the American Iron and Steel Institute (AISI) reported Monday.
US mills produced 1.77 million net tons during the week. Furthermore, the weekly output marked an increase of 0.5% from the previous week. Meanwhile, compared with the same week in 2020, output rose by 42.7%.
Pilbara Ports Authority has delivered a total monthly throughput of 62.5 million tonnes (Mt) for March 2021. This throughput was a two per cent decrease compared to the same month in 2020. The Port of Port Hedland achieved a monthly throughput of 47.4Mt of which 46.7Mt was iron ore exports. This was the same monthly .
Iron ore recovers as Port Hedland shipments to China hit two-year low
Benchmark Asian iron ore futures rose on Thursday as data showed monthly shipments of the steelmaking ingredient to China from Australia’s Port Hedland dropped to the lowest in two years.
Shipments from Port Hedland, the world’s biggest iron ore export hub, totalled 30.73 million tonnes in February, when top steel producer China typically imports less due to the Lunar New Year holidays.
That is the lowest since March 2019 and compares with 35.6 million tonnes in January and 33.3 million tonnes in February last year, data from Australia’s Pilbara Ports Authority showed.
Credit;Adwo/AdobeStock
Benchmark Asian iron ore futures rose on Thursday as data showed monthly shipments of the steelmaking ingredient to China from Australia s Port Hedland dropped to the lowest in two years.
Shipments from Port Hedland, the world s biggest iron ore export hub, totalled 30.73 million tonnes in February, when top steel producer China typically imports less due to the Lunar New Year holidays.
That is the lowest since March 2019 and compares with 35.6 million tonnes in January and 33.3 million tonnes in February last year, data from Australia s Pilbara Ports Authority showed.
Port Hedland is used by three of Australia s top four iron ore miners BHP Group, Fortescue Metals Group and Hancock Prospecting.
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Benchmark Asian iron ore futures rebounded off four-week lows on Thursday as data showed monthly shipments of the steelmaking ingredient to China from Australia’s Port Hedland dropped to a two-year trough.
The most-traded May iron ore on China’s Dalian Commodity Exchange leapt 5.6% to 1,093.50 yuan ($168.34) a tonne by 0700 GMT, after earlier climbing to 1,095 yuan.
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Iron ore’s front-month contract on the Singapore Exchange jumped 3.5% to $164.20 a tonne, recovering from early losses.