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Chinese cold-rolled sheet prices into the United States have started to pull back after a run up in the weeks leading up to the country’s Lunar New Year holiday in mid-February.
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China’s steel sector will recover solidly this year, helped by stronger government infrastructure spending, despite recent setbacks, one analyst said.
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China’s metallurgical coal import market lost traction during the week ended March 1, with few buyers in the market, traders told AMM sister publication Steel First.
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Alufer Mining Ltd. has reached an agreement with China’s Hongfan Industries for the development of its Bel Air bauxite project in Guinea in a deal that could also result in a 5-million-tonne-per-year bauxite offtake arrangement.
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The sale of China Metal Recycling (Holdings) Ltd. (CMR) shares by chairman and chief executive officer Jacky Chun to a Chinese state-owned group is still planned, even as trading of the scrap company’s shares remains suspended.
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China’s H-beam export prices were stable this week, with steelmakers still trying to shore up the market.
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China’s daily crude steel output surpassed 2 million tonnes in mid-February, up 0.9 percent from the first 10 days of the month, according to China Iron and Steel Association (Cisa) estimates.
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China’s steel plate export market started to weaken Feb. 27 as transactions slowed and domestic prices declined.
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Chinese demand for imported iron ore is expected to increase 3.5 percent to 770 million tonnes in 2013, China Iron and Steel Association (Cisa) deputy secretary-general Li Xinchuang said.
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Chinese exports of stainless flat products dropped in January, falling 6.3 percent month on month to 146,206 tonnes from 156,035 tonnes in December, according to Chinese customs data.
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Chinese cold-rolled coil export volumes declined sharply in January as some European buyers shunned higher prices.
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China’s ferrous scrap imports dipped slightly in January from the previous month but still remained above a year earlier.
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China’s imports of iron ore and coking coal decreased in January compared with the previous month, the latest Chinese customs data show.
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Chinese steelmakers could face further financial pressure after the country’s Ministry of Environmental Protection said it would impose new emissions rules on new steel mills as early as March 1.
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Some mills in Southeast Asia appear to be short of ferrous scrap after the Lunar New Year holiday.
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China’s market for imported metallurgical coal remained quiet after the weeklong Chinese New Year holiday, with few transactions.
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China’s coke exports hit a nine-month low in January despite the lifting of restrictions on shipments.
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A slowdown in Chinese steel demand and an increase in the nation’s ferrous scrap reserves could rock U.S. markets in the next decade, depending on Chinese government policy, according to World Steel Dynamics Inc. (WSD).
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China’s daily crude steel output in the first 10 days of February rose 4.3 percent from late January, the China Iron and Steel Association (Cisa) said.
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China’s demand for metallurgical coal will increase steadily in 2013, according to Sun Xuefeng, deputy general manager of Beijing-based Sinosteel Raw Materials Co. Ltd.
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China’s State Reserve Bureau (SRB) could soon conduct a second round of antimony buying to make up for a shortfall in a tender late last year, according to market sources.
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China’s crude stainless steel production rose 14.2 percent to 16.09 million tonnes last year, according to the China Stainless Steel Council (CSSC).
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Chinese authorities are striving to clean up domestic steel trading in the wake of last year’s warehousing scandals.
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China’s metallurgical coal import prices rose during the week ended Feb. 1 due to floods in Australia caused by tropical cyclone Oswald.