Moody’s Investors Service forecasts the global metals and mining industry’s earnings will increase by about 30% through the first quarter of 2022 on the back of economic recovery, as well as rising demand and tight supplies for steel, iron-ore and copper.

Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with what it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories.

The Production of Stainless Steel is Incredible

It is reported that China's biggest steelmaker Baosteel has planned to raise its February delivery prices for main steel products. Baosteel's pricing strategy usually sets the tone for the rest of the market.

It is reported that Gerdau, the biggest producer of steel long product in Brazil, is expecting some recovery in steel demand in Brazil by 2016 due to weak economy activity and uncertain scenario in the short term.

Prices of imported iron ore at 33 major Chinese ports have sunk to their lowest levels this year, a report showed Dec 30, 2014.

Iron ore imports are expected to grow 6.4 percent year-on-year to around 1 billion metric tons in China during 2015, driven largely by lower commodity prices and growth in domestic demand, industry experts said on Wednesday.

After a 4% slide in the iron ore price on Nov 18th, another selloff on Nov 19th brought losses for the week to over 7% as negative sentiment swamps the market for the steelmaking raw material.