9,344.97 TL BIST 100 BIST 100
4.32 CNY CNY CNY
30.97 $ USD USD
€33.45 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.24 TL Interest Interest
82.70 $ Fossil Oil Fossil Oil
23.17 $ Silver Silver
3.87 $ Copper Copper
119.59 $ Iron Ore Iron Ore
398.00 $ Ship Dismantling Ship Dismantling
43.24 TL Gold (gr) Gold (gr)

Indonesia's coal exports to China fell 33% in October

Indonesia's coal exports to China decreased by 33% on a weekly basis in early October

Indonesia's coal exports to China fell 33% in October

According to a survey conducted in September among 91 blast furnace steel manufacturers, China's blast furnace steel producers suffered further losses in finished steel sales. The results of the latest monthly survey published show survey respondents mostly attribute these to further increases in production costs and blame the unimproved conditions.

Judging by October evaluations, blast furnace plants in China suffered more damage in September.

In September, the average losses in rebar sales of the factories included in the research were 152 Yuan/ton ($20.8/ton).

It also decreased by 97 Yuan/ton compared to the August average; losses in hot rolled coil sales amounted to an average of 91 Yuan/ton. The average profit of 67 Yuan/t made by producers in August can be added to these figures.

Decline continues in China

Blast furnace (BF) capacity utilization rate among 247 Chinese steelmakers continues to decline for the second consecutive week compared to October.

It came to the fore that steel mills in Northern China suspended the operation of their furnaces due to heavy losses. In the period of October 6-12, the figures decreased by 0.38 points weekly to 91.93%.

According to the latest research, the average daily hot metal production of factories decreased by 0.4% weekly to 2.46 million tons/day, while operating rates decreased by 1.21% points weekly to 82.2%.

For example, between October 5-11, the loss on billet sales of 10 integrated mills in the Tangshan region averaged RMB 279/ton ($38.9/ton), an increase of RMB 66/ton compared to the previous week.

Traders expected the market to be active after the eight-day holiday, local steel producers increased their iron ore purchases to replenish their stocks.

Imported iron ore stocks in the 247 facilities surveyed reached 88.4 million tons as of October 12, an increase of 1.8 million tons, or 2.1%, compared to the previous week. Stocks will be sufficient for 29.4 days of use at the current rate, 0.7 days longer than the previous period.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Pakistan's scrap imports increased

Wednesday, February 21, 2024

In December 2023, the US section beams exports decreased

Wednesday, February 21, 2024

SMS Group and Hasçelik launched a strategic partnership

Wednesday, February 21, 2024

Ferroalloy production in Ukraine fell by 57% in 2023

Wednesday, February 21, 2024

Morocco's green hydrogen ambitions: Overcoming uncertainties on the path ahead

Wednesday, February 21, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now