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Photo – Rio Tinto and China Baowu will create a joint venture for iron ore mining in Australia
Rio Tinto and China Baowu will create a joint venture for iron ore mining in Australia

The cost of the project will be $2 billion, the agreement must be approved by the governments of Australia and China

Photo – Government stimulus to the Chinese economy could revive the steel market
Government stimulus to the Chinese economy could revive the steel market

Experts expect steel production in China to rise in September 2022, supporting iron ore prices

Photo – Steel production in China’s seven leading provinces fell by 6% y/y in January-July 2022
Steel production in China’s seven leading provinces fell by 6% y/y in January-July 2022

The indicators were affected by the Chinese government's desire for decarbonization, lockdowns and problems in the real estate sector

Photo – ArcelorMittal’s problems in Europe will not affect the company’s activities in China
ArcelorMittal’s problems in Europe will not affect the company’s activities in China

The partial shutdown of the corporation's blast furnaces in Europe will not hinder the expansion of production at its Chinese VAMA plant

Photo – China reduced iron ore imports by 3.1% y/y in January-August 2022
China reduced iron ore imports by 3.1% y/y in January-August 2022

In August 2022, the iron ore import decreased by 1.3% y/y and increased by 5.4% compared to the previous month

Photo – Chinese investors to build a steel plant in Saudi Arabia
Chinese investors to build a steel plant in Saudi Arabia

As part of the signed agreement, there is a plan to construct a EAF steel plant

Photo – China reduced iron ore production by 3.3% in January-July
China reduced iron ore production by 3.3% in January-July

Production decreased by 18.7% compared to June

Photo – Steel production in China fell by 6.4% in July
Steel production in China fell by 6.4% in July

The total volume of production was 81.4 million tons

Photo – Chinese Hebei decided to decommission blast furnaces’ work with a volume less than 1 thousand cubic meters
Chinese Hebei decided to decommission blast furnaces’ work with a volume less than 1 thousand cubic meters

Development and Reform Commission introduces "six modernization" tools for provincial iron and steel industry

Photo – The situation around Taiwan undermined US plans for tariffs on Chinese goods
The situation around Taiwan undermined US plans for tariffs on Chinese goods

Officials in Joe Biden's administration are weighing whether to eliminate some tariffs on Chinese goods or, conversely, impose others

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