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Jiangxi confirms energy saving goal

The steel sector in Jiangxi Province will strive to generate two billion kilowatts per hour of electricity by using renewable energy such as surplus heat and pressure from various facilities by 2012, accounting for 25 percent of the industry's total power consumption. The sector ...

Tianjin Bohai Steel receives credit line

Newly-built Tianjin Bohai Iron and Steel Group will receive 100 billion yuan credit line from eight local financial institutions for developing itself into a novel, first-class steel production base of competitive, high quality steel. These banks include the Tianjin branches of ...

Tangshan will eliminate 7.43 mln tons of pig iron capacity

This year Tangshan City will eliminate 7.43 million tons of pig iron capacity and 200,000 tons of coke capacity.

Gansu speeds capacity pruning

The Gansu Province will iron out 3.14 million tons of outdated capacity in the power, steel and ferroalloy sectors this year and keep a firm grip on curbing excess growth in these heavily energy consuming sectors. This year the province must reduce its energy consumption per unit ...

Chongqing keeps tight rein on excess output

This year Chongqing City will follow the central government's instructions in earnest to eliminate 400,000 tons of outdated pig iron capacity and 150,000 tons of steel capacity in the wake of having wiped out 3.5 million tons of steel capacity by the end of 2009. A senior ...

Iron ore stocks pile up at ports

As of the end of last week, there were 72.2 million tons of iron ore stocks at ports, up 1.85 million tons from a week before. China's imports of iron ore from India were up 280,000 tons from the previous week, those from Australia were up 800,000 tons and those from Brazil were ...

New standards refuse small mills

The Ministry of Industry and Information Technology released on July 12 new standards for the domestic steelmakers to normalize their production and operations, explicitly identifying steelmakers with capacities below a million tons as illegal. The condition of facilities and ...

June steel exports continue to recover

Customs data showed China exported 5.62 million tons of steel products in June, up 680,000 tons from May and 293.01 percent from the same period last year, bringing the total during the first half year to 23.58 million tons, up 152.3 percent. In June China imported 1.47 million ...

China's steel output to top 780 mln tons next year

Standard Chartered forecast in a report China's iron and steel output may hit 780 million tons in 2011 and its steel consumption would reach 580 million tons. The report said China's steel consumption would rise by 9 percent year-on-year to 552 million tons this year and iron ore ...

M&A program reviews put on agenda

The Ministry of Industry and Information Technology (MIIT) has submitted to the State Council for scrutiny a motion to encourage merger and acquisition activities in ten industries including auto, steel, textiles, equipment manufacturing, shipbuilding, IT, petrochemical, light ...

India, China discuss joint projects in Afghanistan

India and China discussed the possibility of working in collaborative projects in third countries, including joint initiatives in Afghanistan to tap large mineral resources. But a source said Japan would be granted priority to explore and extract the untapped mineral resources ...

Mills brew production cuts

Steel prices have seen a tenth consecutive week of decline with some kinds of steel tumbling by over 1,000 yuan per ton. Most mills in Hebei Province might have been in the depth of losses. As of June 30, China's major steel prices averaged at 4,597 yuan per ton, over 400 yuan ...

China imposes duties on EU steel fasteners

The Ministry of Commerce said it would impose anti-dumping duties on certain EU-made carbon steel fasteners ranging from 6.1 percent to 26 percent from June 29, 2010 after finding the domestic industry had suffered "substantial damage". The tariffs would last for a period of five ...

China out to expand iron ore output

China's largest iron ore-producing base in the Anshan-Benxi area will see a considerable increase in its output so as to meet growing demand from domestic market. By the end of 2010, Benxi Steel will be able to produce 20 million tons of iron ore and 8.5 million tons of ...

Iron ore deposits found in Xinjiang

Three iron ore deposits each with a detected reserve of over 100 million tons have been discovered in the 6,000-square kilometer Awulale ore-forming belt of Western Tianshan Mountain, one of three iron-forming belts in Xinjiang, according to a four-year prospecting survey ...

Lvliang Steel to make debut in Shanxi

Zhongyang Iron and Steel and Haiwei Iron and Steel, the two largest steelmakers in Lvliang City, Shanxi, will consolidate themselves into a new steel group called Lvliang Iron and Steel Group by the end of 2011. With a capacity of 3.6 million tons per year, Zhongyang Steel is a ...

Xinjiang's achievements in mineral discoveries

Xinjiang's Awulale area has become one of the most important iron ore-producing areas in the region, in parallel with the Hami-Shanshan Iron Mine and the Menku Iron Mine, with a forward reserve of up to 1.5 billion tons and a measured reserve of 360 million tons.

China lifts steel export rebates

China will scrap tax rebates to exporters of dozens of commodities including key steel products, some non-ferrous metals, silver powder, corn starch, rubber products and ethanol from July 15, according to a joint announcement by the Ministry of Finance and the State Administratio...

Hebei Steel to issue new shares

Major Chinese steelmaker Hebei Iron and Steel (Hebei Steel) said it had gained a green light from the Hebei government for its plan to raise up to 16.0 billion yuan by issuing up to 3.8 billion new shares in the Chinese stock market, so as to purchase 100 percent of Hanbao Steel ...

Steel exports may dive

There is a strong possibility that China's steel exports would fall in the near future as summer vacations in the United States and Europe are approaching and downstream buyers in the Asia-Pacific regions tend to stop rebuilding their inventories. In May China exported 4.94 ...
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