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Steel Output Falls in the Middle of January

Domestic crude steel output stood at 16.95 million tons between January 10 and 20 with daily output amounting to 1.70 million tons, down 98,000 tons from the previous ten days. The modest decline had much to do with regular equipment repairs and occasional production incidents at ...

China's Steel Exports Rise in January

China exported 3.12 million tons of steel products in January, an increase of 270,000 tons from December and up 8.2 percent from the same period last year; exported 190,000 tons of coke, up 400.7 percent. China imported 1.64 million tons of steel, up 230,000 tons from the ...

China to Triple Overseas Iron Ore Supplies

Chinese overseas mining rights of iron ore are expected to increase rapidly in the next five year, according to new targets outlined by the China Iron and Steel Association. More than 50 percent of offshore materials will come from mines whose rights are owned by Chinese steel ...

Steel Prices May Stop Rising

Data from the Ministry of Commerce showed while the stock level of construction steel across China increased by 9.1 percent on a weekly basis during the week ended February 20, domestic steel prices gained 1.1 percent. With domestic steel output growing steadily, the steel prices ...

China to Deepen Steel Restructuring

In the next five years China will foster a handful of internationally competitive steel giants with strong independent innovation capability through mergers and reorganization, experts said at a domestic steel forum. Large mills should be encouraged to make themselves bigger and ...

Crude Steel Output Soars in 2005-10

China's steel output jumped 78.5 percent between 2005 and 2010, from 353 million tons to 630 million tons, while the sector's energy consumption per ton of steel and fresh water consumption dropped to 619 kg of standard coal and 4.4 tons respectively from 741 kg and 8 tons. The ...

CISA Supports Strategic Iron Ore Stockpiles

The CISA has called for the government to use its foreign-exchange reserves to build strategic commodity stockpiles, including iron ore. Large amounts of ore can be bought when prices are relatively cheap to guard against a monopoly from global mining companies. The steel lobby ...

Mills Face Downward Pressure

Domestic steel prices are bound to fall in May, if not in April, said an industry expert. Some end-users in Shanghai have suspended their bookings due to difficulties derived from higher ex-works prices than transaction prices. The scenario of adverse business conditions steel ...

Coke Prices May Stay High

Australia's flooding has pushed coking coal prices to as much as $340 a ton worldwide. The offers are now hovering at $310 per ton. The global steel market has rebounded sharply, which has increased demands for coking coal. The domestic coke prices remain firm despite a fall in ...

China to Launch Coke Futures Soon

China will launch its first coke futures on the Dalian Commodity Exchange in the first half of this year, a move that will be conducive to sound development of the domestic coke sector. The volume of the futures transactions on the exchange totaled 2.89 billion lots over the past ...

Zhanjiang Steel Project Waiting Approval

Yu Ziquan, president of Guangdong Iron and Steel Association, has called for early approval of Zhanjiang Steel Project, a high quality steel production base in Guangdong with an annual capacity of five million tons. He noted steel consumption in the province now amounts to 50 ...

Daily Steel Output Hits New Record

The domestic steel output in late February rose by 5.5 percent to 1.91 million tons per day. The main reason behind the output increase lied with a continuously upward movement taking place during the period from late last year to mid-February, which has led to a turnaround in ...

China's February Iron Ore Imports Plunge

Customs data showed in the first two months of this year, China exported 5.6 million tons of steel products, an increase of 4.2 percent from a year earlier; and exported 430,000 tons of coke, up 380 percent while importing 2.66 million tons of steel products, up 7 percent; 120...

Steel, the Least Profitable Sector in 2010

Shougang Group chairman Zhu Jimin said the year 2010 was extremely difficult for the domestic steel sector that had recorded its lowest profit level in history because of excess production capacity and high iron ore costs. Mr. Zhu noted in the next five years, the sector must ...

High-end Steel Prices Advance

The prices of grain-oriented silicon steel across China have rallied with other medium- and high-end steel products such as auto steel, bearing steel and stainless steel expected to follow suit. The massive earthquake has caused closures of many steel workshops in Japan, a major ...

China IOP Index Released

China's Xinhua News Agency announced the debut of the Xinhua-China Iron Ore Price Index on March 12. The new index will be worked out through a diverse means of calculation using the transaction prices of iron ore of different grades on the back of in-depth research and analysis ...

Quake to Soften Global Iron Ore Prices

Baosteel said the earthquake in Japan could cause local steelmakers to reduce consumption of iron ore, thus easing tension on the global supply of iron ore to some extent Major steelmakers including Nippon Steel and JFE Holdings have halted their production facilities along the ...

Stainless Sector Losses Grip on the Whole Industry Chain

Baosteel said as global competition becomes more intense in the stainless steel sector, the focus of the sector's development is shifting from individual competition to the degree of penetration into the whole industry chain. China has become the world's largest consumer of ...

China to Implement Iron Ore Agent System

China is considering comprehensively carrying out an agent system for imported iron ore in order to keep its port stocks stable at an appropriate level and address issues such as dual prices set for imported iron ore and speculative practices at home, said Luo Bingsheng, former ...

Excess Capacity far from being Checked

China's overall steel capacity is proliferating through means of merger and project expansion by investors in the name of rooting out outmoded steel facilities that has been frequently reiterated by the government since as early as 2006. The country's steel capacity rose from 720 ...
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