Steel Products
NW Australian Storm Shuts Ports – Affects Iron Ore Trade
Written by Sandy Williams
January 23, 2013
A tropical storm shut down ports in Australia on Tuesday stopping shipment of nearly half of the world’s iron ore trade. Port Hedland, Dampier and Cape Lambert shut down operations as vessels moved out to sea and away from the area. The ports service the mines Rio Tinto, BHP Billiton, Fortescue Metals Group and Atlas Iron. The Bureau of Meteorology is warning that the storm may develop into a Category 3 cyclone on Wednesday with wind gusts to 62 miles per hour between Port Hedland and Dampier.
The a region of northwest containing the majority of Australia’s iron ore mining companies, is in the “cyclone alley” which produces seven or more cyclones per year. Fear of weather related reduced iron ore supply from Australia has contributed to fluctuations in iron ore prices.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Rig count update: US activity stable, Canada slips
The number of oil and gas rigs operating in the US remained unchanged this week for the second consecutive week, while Canadian activity declined, according to the latest data released from Baker Hughes.
SMU market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Domestic, offshore CRC prices steady
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis was unchanged in the week ended Dec. 20.
SMU Survey: Mill lead times contract slightly, remain short
Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.
Worthington Enterprises’ earnings dip in fiscal Q2’25
Worthington Enterprises' profits edged down in its fiscal second quarter of 205 vs. a year earlier. The company said a slump in sales in the quarter was due largely to the "deconsolidation" of the Sustainable Energy Solutions segment in the fourth quarter of fiscal 2024.