BlueScope Steel Ltd. rejected the latest takeover approach from US steelmaker Steel Dynamics Inc., arguing a $8.8 billion joint offer made with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
BlueScope Steel Ltd. rejected the latest takeover approach from US steelmaker Steel Dynamics Inc., arguing a $8.8 billion joint offer made with Australian conglomerate SGH Ltd. “very significantly” undervalued its assets.
Slit steel coil rolls at BlueScope Steel Ltd. Port Kembla steelworks in Port Kembla, Australia, on Friday, Feb. 9, 2024. The world's two biggest miners, BHP Group Ltd. and Rio Tinto Group, are teaming up in a bid to develop Australia's first electric-smelting furnace, in what could prove an important step toward slashing emissions in the steel-making process.
Chinese steel mills face an extended period of depressed margins as efforts to cut capacity in the sector go slower-than-expected, while exports remain high, according to Goldman Sachs Group Inc.
Chinese steel mills face an extended period of depressed margins as efforts to cut capacity in the sector go slower-than-expected, while exports remain high, according to Goldman Sachs Group Inc.
Rio Tinto Group and Fortescue Ltd, two of the world’s largest iron ore producers, have switched the index they use to price shipments for the world’s largest commodities consumer, a rare change that follows public criticism of the current mechanism from state-backed buyer China Mineral Resources Group.
Rio Tinto Group and Fortescue Ltd, two of the world’s largest iron ore producers, have switched the index they use to price shipments for the world’s largest commodities consumer, a rare change that follows public criticism of the current mechanism from state-backed buyer China Mineral Resources Group.
Iron and bauxite iore at the Yantai port in eastern China.
Iron ore futures were set for their highest close since late November, riding a broader year-end rally in metals as traders look ahead to potential policy support from Beijing.
Iron ore futures were set for their highest close since late November, riding a broader year-end rally in metals as traders look ahead to potential policy support from Beijing.
China’s top steel industry group has urged the state-backed iron ore trader, China Mineral Resources Group Co., to push for using domestic price benchmarks in supply talks with major miners including BHP Group and Rio Tinto Group.
China’s top steel industry group has urged the state-backed iron ore trader, China Mineral Resources Group Co., to push for using domestic price benchmarks in supply talks with major miners including BHP Group and Rio Tinto Group.
Train carriages wait to unload iron ore at Rio Tinto Group's port facility in Karratha, Western Australia.
Chinese coking coal futures headed for their biggest weekly gain since August, in a sentiment-driven rally that also helped lift iron ore and steel prices.
Chinese coking coal futures headed for their biggest weekly gain since August, in a sentiment-driven rally that also helped lift iron ore and steel prices.
Stockpiles of coal at the Guoyuan Port Container Terminal in Chongqing, China. Photographer: Na Bian/Bloomberg
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
A haul truck loaded with ore at an open pit gold mine in Kalgoorlie-Boulder, Western Australia, Australia.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
Australia has boosted its forecast for commodity export earnings as gold prices continue their breakneck rally and iron ore holds up despite falling Chinese steel production.
A haul truck loaded with ore at an open pit gold mine in Kalgoorlie-Boulder, Western Australia, Australia.
The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.
The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.
China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.
China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.
A metal stock yard in Shanghai. Photographer: Qilai Shen/Bloomberg
China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.
China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.
A metal stock yard in Shanghai. Photographer: Qilai Shen/Bloomberg
China’s state-backed iron ore buyer is proposing measures to curb hoarding of the steelmaking ingredient at ports, in a move that could dent the pricing power of foreign miners and traders.
China’s state-backed iron ore buyer is proposing measures to curb hoarding of the steelmaking ingredient at ports, in a move that could dent the pricing power of foreign miners and traders.
Iron ore risks becoming detached from physical market reality, as financial speculation drives strong prices more so than underlying supply and demand, according to state-backed trader China Mineral Resources Group Co.
Iron ore risks becoming detached from physical market reality, as financial speculation drives strong prices more so than underlying supply and demand, according to state-backed trader China Mineral Resources Group Co.
This photo shows an aerial view of an iron ore wharf at the port in Qingdao, in China's eastern Shandong province, on November 10, 2025. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images)
Iron ore fell to the lowest in a month, extending declines ahead of a key meeting of Chinese officials this week that will provide details on policy priorities for next year.
Iron ore fell to the lowest in a month, extending declines ahead of a key meeting of Chinese officials this week that will provide details on policy priorities for next year.
China’s stubborn steel overcapacity won’t be easy to fix because the industry is so deeply intertwined with the country’s broader economy, according to the head of the World Steel Association.
China’s stubborn steel overcapacity won’t be easy to fix because the industry is so deeply intertwined with the country’s broader economy, according to the head of the World Steel Association.
Iron ore prices slipped for the first time this week as the steel market showed signs of seasonal weakness and traders looked ahead to China’s upcoming economic policy meeting.
Iron ore prices slipped for the first time this week as the steel market showed signs of seasonal weakness and traders looked ahead to China’s upcoming economic policy meeting.
The iron ore terminal at the Qingdao Port in Qingdao, China.
The first commercial shipment of iron ore from a massive new mine in Guinea is on its way to China, marking the start of a major shift in global supply of the steelmaking material.
The first commercial shipment of iron ore from a massive new mine in Guinea is on its way to China, marking the start of a major shift in global supply of the steelmaking material.
The Winning Youth had been waiting off Morebaya for weeks. It finally set sail for China with its cargo late Tuesday.
The China Iron and Steel Association urged local ore producers to speed up key projects, as the world’s biggest consumer grapples with its dependence on imported supplies from top miners such as BHP Group.
The China Iron and Steel Association urged local ore producers to speed up key projects, as the world’s biggest consumer grapples with its dependence on imported supplies from top miners such as BHP Group.
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