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China Exceeds the Targets to Eliminate Outdated Capacity

During the Eleventh Five-Year Plan period that will end this year, China is expected to eliminate 111.72 million tons of pig iron, 66.83 million tons of steel and 105.38 million tons of coke, surpassing its original targets by 11.7 percent, 21.5 percent and 31.7 percent ...

Anhui to Build Steel Processing Base

A steel complex based in the Hefei Economic Circle, Anhui will be set up in the next five years. The group intended to deal with high quality steel production and processing businesses will include most of the iron ore assets in Liuan and Chaohu, where more than six billion tons ...

China to Foster Several Large Steelmakers

The number of steelmakers in China will eventually reduce from current some 800 to approximately 200 through means of reorganizations and the elimination of outmoded capacity, said an official from the Ministry of Industry and Information Technology. The ministry has urged local ...

China's Net Steel Exports May Exceed 25 Million Tons

The Ministry of Commerce forecast China would export approximately 43 million tons of steel products while importing 16 million tons of steel this year, resulting in a net crude steel export of 25 million tons or more. China's dependence on foreign iron ore has been falling since ...

Coordinated Mechanism for Rebar in Shandong

Several major rebar producers in Shandong have forged what analysts described a coalition, or a price alliance, in order to sustain a certain profit level and share benefits from this market. The participating members, led by Shandong Steel Group, will hold a regular meeting ...

China Continues to Consolidate its Mining Sector

China has made it clear that it will preliminarily establish a long-term mechanism for the exploration and utilization of mineral resources at home by the end of this year. Over the past five years, during the first round of a nationwide campaign to address the order of mining ...

Steel Mills October Profits Top Seven Billion Yuan

China's 77 major steelmakers reported a combined profit of over seven billion yuan in October, representing the highest level since July this year. It is estimated that their total profits would amount to approximately 100 billion yuan by the end of this year. They will see ...

China to Introduce Clean Production Index in the Steel Industry

According to the National Development and Reform Commission, China will introduce the clean production index system among 45 domestic industries including steel, which will act as an entry threshold into and one of the bidding conditions of government procurement from these ...

China Makes Heavy Investment in Australian Resources

The Australian Foreign Investment Review Board said, from December 2007 to July 2010, the agent received investment plans concerning varied fields from more than 180 Chinese enterprises with a total amount of around A$60 billion. With A$2.63 billion, China became the largest ...

China Uncovers More Iron Ore Resources

Since a nationwide geological survey was conducted 12 years ago, China has discovered five billion tons of iron ore, 38 million tons of cooper, 450 million tons of bauxite, 1,800 tons of gold, 83 million tons of lead and zinc, 80,000 tons of silver ore, 180 million tons of ...

Baosteel's Thoughts about Future Development

The imbalanced supply and demand situation, the high level of inventory and higher cost pressures have become the biggest hurdles to the development of the Chinese steel industry. The domestic sector has ushered in a plateau period of escalated competition in the market full of ...

Iron Ore Resources Discovered in Anhui

A multilayer iron ore belt has been discovered in an area of 270 square kilometers around the Libaji-Luoji region in the southern Mengcheng County of Anhui, one of the important steel-producing provinces in China, according to an official with the Bureau of Land and Resources of ...

Major mills Raise Prices by 450 Yuan

Baosteel announced on November 11 that it will keep the prices for most steel products unchanged for December shipment, but will raise those of hot-dip galvanized and silicon steel by 100 yuan to 200 yuan per ton. Hebei Steel and Shagang have decided to lift their prices by as ...

Q4 Steel Exports Depend on Four Factors

China exported 36.24 million tons of crude steel in the first nine months of this year, an increase of 116.73 percent from a year earlier. Exports in the fourth quarter will depend on the following - Whether overseas demand will continue to grow or not? Judging from the ...

China Endorses First Planned Mining Areas

The Ministry of Land and Resources has set aside the first national planned iron ore mining areas in the Panxi region of Sichuan as follows: The name and scope of planned iron ore deposits Number Deposit name Coordinate scope Deposit area (km2) 1 Vanadium and titanium magnetite ...

Distributors Keeping Their Stocks Thin

While the traditional peak season for steel hoarding is looming, distributors in China appear not to be comfortable with too much inventory on hand. The reason behind their hesitance rests on their judgment of a still feeble foundation in the domestic steel market. Panchenggang ...

Zhanjiang Steel Mentioned by the Steel Development Plan in 2011-15

The much-advertised Zhanjiang Steel Complex, a 10 million t/y steel project initiated by Baosteel, has been officially included into the draft plan of the Chinese Steel Development Program under the Twelfth Five-Year Plan period (2011-15), which is expected to be finalized soon. ...

China to Build Strategic Reserve for Rare Metals

China is working on a plan to launch a strategic reserve mechanism for ten precious metals including rare earth, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium. The purpose is to reverse a trend in which rare metals exploitation in China ...

Q4 Steel Prices Lack Momentum to Stay High

Baosteel predicated domestic steel supply will be more balanced in the fourth quarter of 2010, while steel prices will likely remain unchanged from their current level, after posting a fall of 15.96 percent for third-quarter net profit. The company is struggling to maintain a ...

CISA Warns of Grim Export Prospects

The China Iron and Steel Association (CISA) has predicted a bleak external environment for the domestic steel industry that has been reeling from the high cost of iron ore. An additional 15 million tons of steel capacity will emerge in South Korea alone this year, which is bound ...
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