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China Vows to Rein in Excess Steel Capacity

The Chinese Ministry of Industry and Information Technology said the government will manage to solve the problem of overcapacity in some industries including steel and cement through the prevention of reckless expansion in facility capability and the control of overall capacity ...

Steel Sector to Step up Mergers and Reorganization

China will foster a handful of internationally competitive super large steelmakers such as Baosteel, Ansteel, Wuhan Steel, Hebei Steel, Shagang and Shougang by the end of 2015 when the top ten producers are supposed to make as much as 60 percent of the country's total steel ...

Top Ten Steel-producing Countries in 2010

World crude steel production reached 1.41 billion tons in 2010. This is an increase of 15% compared to 2009 and is a new record for global crude steel production. All the major steel-producing countries and regions showed double-digit growth last year. Unit: million tons Rank ...

Iron Ore Prices Hit $190 per ton

Having finished replenishing their stocks prior to the Spring Festival, most domestic mills have held back from buying raw materials from ports, leaving a quiet market at the moment. There were 83.86 million tons of iron ore stockpiles at 19 ports as of last week, an increase of ...

Spot Iron Ore Prices Continue to Rise

The shortfall of iron ore supplies has prompted a surge in the spot prices of iron ore from India, Brazil and Australia to over $190 per ton. The latest offer price by Vale for 64 percent iron content fines stood at $195 per ton on CFR basis while Rio Tinto's PB fines (grading 61 ...

China's Steel Exports Soar in 2010

China exported 42.56 million tons of steel products last year, an increase of 73 percent from 2009; while importing 16.43 million tons of steel products, down 6.8 percent. China's iron ore imports totaled 618.63 million tons, down 1.4 percent year-on-year. China exported 140,000 ...

Shanxi to Remove Old Ferroalloy Facilities

The Shanxi government will work harder to eliminate out-of-date facilities in the local ferroalloy sector in 2011-15. The province will shut down all the calcium carbide electric furnaces with transformer capacity below 12,500 kilovolt-amperes, ferroalloy electric furnaces below ...

NDRC Warns Acute Shortfall of Iron Ore Handling Capacity

The National Development and Reform Commission said China will accelerate the building of port infrastructure in the 2011-15 period notably facilities dedicated to handling foreign iron ore. By the end of 2010 China's seaborne iron ore handling capacity amounted to 320 million ...

China's Steel Logistics Volume Tops Three Billion Tons

China's steel logistics volume exceeded three billion tons last year with a faster growth rate than any other country in this field. China will witness an average of over 10% increases in the volume of steel logistics in the next five years. The ratio of domestic steel output and ...

424,000 Tons of Steel Capacity Were Eliminated in Gansu

Over the past five years the Gansu authorities have eliminated a total of 12.96 million tons of outmoded capacity in various local industries. Among others, they shut down 424,000 tons of iron and steel, 70,000 tons of electrolytic aluminum and 940,000 tons of ferroalloy capacity...

China Develops Third Generation Auto Steel

Taiyuan Steel, in partnership with China Iron and Steel Research Institute Group, has successfully developed hot and cold rolled steel for third generation auto sheet with tensile strength, formability and elongation ratio all surpassing 30 GPa percent.

Low Profitability May Extend into 2011

The Chinese steel industry is projected to achieve a combined profit of approximately 85 billion yuan in 2010 consisting of eight billion yuan as returns on investment and 77 billion yuan generated by steel operations as main business. Although the sector's capability utilization ...

Basic Guidelines for the Steel Sector Confirmed

CISA vice chairman Luo Bingsheng said China will focus on the three aspects of the development of the domestic steel industry in the next five years: accelerate restructuring and upgrading progress of the steel sector to make it a truly powerful industry rather than a big one, ...

DCE Ready to Launch Coke Futures

Dalian Commodity Exchange has virtually completed its preparatory work for the launching of coke futures. In 2011 DCE will continue to strengthen contacts and cooperation with its members to fend off risks, improve the market rule system with the focus on providing better market ...

China continues to enhance regulating property market in 2011

BEIJING, Dec. 29 (Xinhua) -- China will enhance regulating its property market in 2011 and strengthen implementation of the tightening measures already unveiled by the government, a senior official said Wednesday. Jiang Weixin, minister of Housing and Urban-Rural Development, ...

China to Standardize the Steel Industry

China has vowed to take two or three years to standardize and streamline the domestic steel sector in all aspects, from the market order to iron ore prices, from industrial redistribution to technological upgrading. Currently, there are nearly 400 million tons of unlicensed steel ...

Steel Price May Keep Stable

CISA said domestic steel prices are rising slightly driven by stronger raw materials costs and lower levels of inventory. With holidays and a winter slack season approaching, however, the prices may fluctuate within a narrow range in the near future. Demand for the long steel ...

China to Revise the Steel Industry Policy

The Ministry of Industry and Information Technology said next year China will revise industrial polices concerning the automobile, steel and cement sectors with focuses on coordinating policies related to taxes and revenue, land use, investment and finance as well as establishing ...

ABARE's Forecast on China's Steel Output in 2011

China's crude steel output would be 674 million tons in 2011, a 7 percent increase from this year's 630 million tons, according to a report by the Australian Bureau of Agricultural and Resource Economics (ABARE). Given the policy to curb the development of energy-intensive ...

Hebei Employs the Differential Water Rates Policy

The Hebei government will introduce the differential water rates policy starting from January 1, 2011, which will apply to the eight sectors of electrolytic aluminum, ferroalloy, calcium carbide, alkali, cement, iron and steel, phosphorus and zinc melting.
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