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Iron Ore Prices May Fall in Q4

A source with Brazil's iron ore supplier Mineracao e Metalicos said international iron ore prices in the fourth quarter are likely to fall by 8 percent from the previous three months. The world's three leading iron ore suppliers - Vale, Rio Tinto and BHP Billiton have persuaded ...

Taxes Reform Causes Steel Exports to Drop

The amounts of steel exports out of Shandong Province plunged 30.3 percent from 415,000 tons in June to 289,000 tons in July, suggesting that the tax rebate policy effective from July 15 is starting to work. In the first seven months, Shandong exported 2.18 million tons of steel ...

Anhui Promotes Steel Mergers

In its newly-released restructuring program for the local iron and steel industry, the Anhui government has encouraged large local steelmakers to get more involved in cross-regional mergers and acquisitions with enterprises of different ownership or dealing with business other ...

Deadline for steel reorganization timetable

In a move to make the country's steel industry more centralized and powerful, the Chinese Ministry of Industry and Information Technology has asked local authorities in charge of the steel sector to present their merger and acquisition programs by the end of this year. Their ...

Infrastructure built for ore terminal

Qingdao Port Group has completed the construction of a 458-meter-long bridge and 2,316-meter-long dam that connect to an iron ore dock in the Dongjiakou Port Zone, paving way for the official operations of the 3.8 billion yuan dock at the end of this year. The dock, dubbed as ...

Iron ore prices remount to $150

In less than one month, the spot prices of domestic iron ore regained the $150 per ton level from the trough of $120, with the MY STEEL Iron Ore Index reaching $151 per ton for 63 percent Fe content material on August 10. In July China imported 51.2 million tons of iron ore, up 4...

Steel blacklist questioned

China has eventually announced a name list of domestic steelmakers with outmoded facilities to be eliminated after years of just chanting slogans to remove them. In the list released this time, however, many names are not new. They have either been mentioned by local governments ...

Steel expansion era close to end

In the first half of this year, China produced 323 million tons of crude steel, accounting for 72 percent of Asia's total steel output and 46 percent of world totals. The heady level of steel output certainly leads to growth in the consumption of iron ore. Under such circumstance...

Dim prospects for steel in H2

Despite the recent recovery in steel prices, a senior executive of Henan's largest steelmaker Anyang Steel, pinned little hope on the future market. He owed much of the resilience to flarebacks to the 14-week long slump in the steel prices across the country. 77 principal ...

Affluent stocks ruin further rise in steel prices

The recent round of recovery in steel prices that began from late July was built on a feeble foundation, thus unable to sustain for long, said a source with Guangdong Iron and Steel Association. In other words, demand is far from adequate to bolster the continued increase of the ...

China mulls resources security system

CISA secretary general Shan Shanghua said China is considering a plan to set up an iron ore security system designed to shun the risks of fluctuations in price and quality. In the first half of this year, the average delivered prices of iron ore into China increased by 46.9 ...

Shanxi eliminates 10 mln tons of capacity in H1

The Shanxi government eliminated more than 10 million tons of old iron and steel capacity in the first half of this year. According to a plan, the province will have to root up 10.39 million tons of pig iron capacity, 200,000 tons of steel, 42,000 tons of electrolytic aluminum, 7...

Iron Ore Resources Found in Jiangxi

About 12.6 million tons of iron ore resources have been detected in the deeper parts of the deposit of Liangshan Mine, Jiangxi. There is an estimated 80 million tons of ore reserves in Liangshan Mine and Taipingshan Mine, both owned by Jiangxi Xinyu Mining Company. While Jiangxi ...

Steel Prices May Slightly Fall

The Ministry of Commerce said last week domestic steel prices fell by 0.6 percent from the previous week. The prices of hot rolled strip, welded pipe and ordinary sheet were down 1.7 percent, 1.3 percent and 1.1 percent respectively. The ministry said the domestic steel prices ...

Steel Sector to Play a Role in Stimulating Domestic Demand

A veteran economist said China will gradually revoke export rebates for more products from the steel, nonferrous metal, chemical and paper industries in the next five years and try to make them a major contributor to boosting domestic demand. He believed what mostly worries the ...

Sep. Steel Output Hits This Year's New Low

According to data from National Bureau of Statistics, China's crude steel output stood at 47.95 million tons in September, a decrease of 5.9 percent from a year before. Daily output was 1.60 million tons, the lowest level since early this year. Pig iron output was 45.7 million ...

Upcoming Production Cuts in Guangdong

The Guangdong authorities has asked 15 local industrial companies including Guangzhou Steel to cut output from November 1 to December 20 to improve air quality in the run-up to the Guangzhou Asia Games due on November 12, 2010. Guangzhou Steel is said to have to trim output by 50 ...

Special Steel Sees Huge Potential for Growth

A relatively weak foundation for China's special steel industry featured by low degree of concentration, low alloy content and the low proportion of high value-added products means huge growth potential in the future. Furthermore, among the sector's major customers is China's ...

The Hebei Government Completes its Elimination Targets

The Hebei government has proved that all of the 163 blacklisted enterprises from ten sectors including steel and coke in Hebei Province had removed their energy inefficient and unsafe facilities. By the end of September the province had scraped 3.46 million tons of steel capacity ...

China Discussing Index-based Ore Pricing System

China's steel community is talking about the prospect of an index-based iron ore pricing mechanism. A senior executive in Shanghai said China has to come to realize that there is a general trend to peg iron ore prices to a certain index-linked systems under the background of both ...
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