The Brazilian Mining Institute reported this Wednesday, 27, that the country's mineral production fell by 9% in the first half of this year compared to the same period in 2021.
The Ministry of Economy confirmed today (25/07/22) that the UK has decided to no longer apply protective tax measures on the import of steel sheets and cold-rolled steel products.
Iron ore futures soared on Monday, extending a rally spurred on by hopes of an economic recovery in China, the world's biggest steel producer and consumer, in the third quarter.
The price of metallurgical coal in China fell to a seven-month low on Wednesday, pressured by prospects for higher supply and sustained weakness in demand for the steelmaking raw material, while new hopes of economic stimulus supported iron ore prices.
Steel futures prices in China rose on Tuesday, boosted by the Chinese government's efforts to ease the financial crisis in the troubled local real estate sector, but iron ore prices fell on lingering concerns over falling demand for the steel ingredient in the world's largest steel producer.
Iron ore futures on the exchange rose on Tuesday, with the market rallying for the first time in four sessions on expectations of lower US tariffs on Chinese goods, although fears of a global recession limited gains. .
