MMi Daily Iron Ore Report (November 17)

The domestic ore market in Liaodong was generally stable today. Buyers were cautious in their inquiries, purchasing only for immediate needs, but some sellers held back from selling and held prices firm, reluctant to accept offers below their psychological expectations. Both sides were in a stalemate and stood on the sidelines, with trading thin. Demand side, steel mills were mostly incurring losses and had a strong desire to bargain down prices. Combined with maintenance at some mills, demand weakened in phases, exerting strong restraint on ore prices. However, ROM supply remained tight, and in the absence of notable positive external drivers, local ore processors had no production resumption plans in the near term.

In the second quarter of 2026, coal volumes transported by major eastern US railroads CSX and Norfolk Southern increased by 5% and 4%, respectively. However, their domestic coal shipments fell by 2% and 8%, while export volumes rose by 12% and 25%. The figures show that growth in US coal transportation was driven mainly by overseas demand rather than domestic power-sector consumption. Although the US government has introduced measures to support coal, including regulatory rollbacks and efforts to delay coal-plant retirements, coal consumption for electricity generation remained below year-earlier levels from January through May as natural gas and solar continued to displace coal. Weak domestic demand is likely to limit upside in US thermal coal prices, while stronger exports may provide some support to Appalachian thermal and metallurgical coal. However, increased US export supply could also limit gains in international coal prices.

Một công nhân được cho là khoảng 50 tuổi đã tử vong sau khi bị xe tải đâm tại mỏ than lộ thiên United Wambo ở New South Wales, Úc. Mỏ này, cách Singleton khoảng 23 km về phía tây, được điều hành chung bởi Glencore và Peabody. Hoạt động khai thác đã bị đình chỉ trong khi cảnh sát, cơ quan quản lý và đại diện an toàn của công đoàn điều tra vụ việc, và một báo cáo sẽ được chuẩn bị cho cơ quan điều tra tử vong. Việc đình chỉ kéo dài có thể làm giảm sản lượng than trong ngắn hạn và hỗ trợ phần nào cho các thị trường than liên quan. Tuy nhiên, chưa có thông tin về thời gian đình chỉ, thiệt hại sản lượng hay loại than bị ảnh hưởng, khiến việc đánh giá tác động đến than nhiệt, than luyện cốc hoặc giá cả là quá sớm