steel

BHP and Rio Tinto have managed the impact of the COVID-19 pandemic to remain two of Australia’s most valuable brands in Brand Finance’s Australia’s 100 report.

Prices for Australia’s high-grade iron ore fines have increased this week after data on China’s steel output in 2020 was revealed.

Rio Tinto has doubled down on its strategy to reduce carbon emissions by collaborating with Nippon Steel Corporation and China Baowu Steel Group to produce and supply low-carbon steel.

Fortescue Metals Group has secured 12 new agreements with Chinese steel mills, procurement partners and financial institutions during the China International Import Expo 2020.

Rio Tinto has inked an agreement to develop blending operations within the Port of Dalian in China as it moves to expand its offering to customers across Asia.

Anglo American chief executive Mark Cutifani is mulling over the company’s exit from its South African thermal operations.

Coronado Global Resources’ Australian operations have given a standout performance during the June quarter.

GFG Alliance has revealed further plans to transform its Whyalla steelmaking facility on the back of its South Australian mine products.

Coronado Global Resources has become the latest coal producer to withdraw its 2020 financial year market guidance due to the coronavirus crisis.

WestStar Industrial is set to acquire Tier 2 steel fabrication provider Alltype Engineering in a deal worth around $8.4 million.

Rio Tinto has signed an agreement with China Baowu Steel Group and Tsinghua University to implement new methods to reduce carbon emissions across the steel value chain.

Fortescue Metals Group has achieved record quarterly shipments from the Pilbara as the iron ore giant continues to capitalise on strong Chinese demand.

Fortescue Metals Group is distributing over $1 billion worth of dividends to shareholders ahead of Labor’s plan to crack down on franking credits should it win Saturday’s federal election.

Fortescue Metals Group has set a new record for iron ore shipments of 46.5 million tonnes (Mt) in the June quarter, a 20 per cent increase that brought it to its full-year shipment target of 170Mt.

The Australian Government’s Department of Industry, Innovation and Science remains steadfast in its forecast that the iron ore price will average below $US50 a tonne in 2019.

Fortescue Metals Group chief executive Nev Power expects the volatility in the iron ore market to settle over the next six to 12 months.

The global steel price increase has boosted the value of Western Australian-based listed companies, with the 2017 financial year closing at $152.6 billion – a 13.5 per cent increase on 2016, according to Deloitte’s latest WA Index.

The doom-and-gloom surrounding the future of the price for iron ore remains on the back burner after its value spiked more than 7 per cent over night.

A Korean consortium, including leading steel-maker POSCO, has been chosen as the preferred bidder for South Australian-based iron ore company Arrium, which entered voluntary administration in 2016.

China’s move to reduce air pollution in large cities by limiting its need for iron ore and coal production over the next five years won’t slow Australia’s mining industry, a federal government report has claimed.