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Indium prices rose again this week as Chinese supply remained tight and speculators continued to snap up material.
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China’s steel imports are expected to fall in September due to lower domestic prices this month, market participants said.
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China is unlikely to make any changes to export taxes on ferromolybdenum or ferrotungsten despite weak exports this year, market participants said.
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Four Rio Tinto employees charged with bribery and procuring trade secrets will be given a fair trial under Chinese law, China’s Ministry of Commerce said.
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China’s ferrochrome prices have inched up on a firming in overseas offers and stainless mills’ demand.
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Chinese plate exporters have held the line on their latest offers despite a decline in domestic spot market prices, according to mill and trader sources.
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Shougang Jingtang Iron & Steel Co. Ltd. plans to develop a 4.2-million-tonne-per-year coking plant in conjunction with Xishan Coal & Electricity Power Group Co. Ltd., China’s largest coking coal producer.
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China’s monetary policy is “at its loosest” and will gradually tighten after the central bank announced “fine-tuning” measures, according to analysts. However, the impact on steel is expected to be slow in the making and minimal, according to sources.
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Iron ore imports via China’s main ports totaled 56.5 million tonnes in July, according to Transport Ministry statistics, suggesting that the country’s appetite for ore remains strong.
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Rising domestic Chinese market prices are propelling export tags for flat steel products higher, but with few takers.
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Chinese rebar and wire rod export offers have increased another $10 per tonne, driven by higher domestic market prices.
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Chinese domestic hot-rolled coil prices have risen past 4,000 yuan ($585) per tonne this week amid growing market unease as steel mills push prices higher.
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China’s steel prices rose for the second consecutive month in June thanks to recovering domestic demand, according to the China Iron and Steel Association (Cisa).
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China’s primary aluminum output rose an estimated 10 percent June from the previous month and is expected to rise further in July, according to a China Nonferrous Metals Industry Association (CNMIA) official.
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Chinese domestic hot-rolled coil prices surged as much as 130 yuan ($19) per tonne after Baosteel Group Corp. Ltd., China’s biggest steelmaker, raised its August list prices, traders said.
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China will continue negotiations on iron ore contract prices despite passing an informal deadline for the talks to conclude, but will not drop its demand for a return to 2007 prices, according to a report from China.
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Spot iron ore prices have increased to $81 to $82 per tonne c.f.r. China, backed by optimism in steel prices, market participants said.
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China’s spot aluminum premiums have fallen in the past month on lower import orders, and could drop further as many domestic smelters restart idled facilities.
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China’s shipbuilding industry is expected to recover by the end of this year or next with help from government measures, a Chinese expert said recently.
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China’s environment ministry has ordered a halt to two integrated steel projects in the eastern province of Shandong with a total hot-rolling capacity of 7 million tonnes per year.
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China’s silicon metal prices could bottom out in the coming months and recovery is likely to come in the first half of next year, according to market participants.
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China’s hot-rolled coil exports remained unattractive this week despite implementation of a 9-percent export tax rebate, traders said.
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The Chinese central government is framing rules to boost consolidation in its fragmented steel sector, according to reports from the official Xinhua News Agency.
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Silicon metal consumption from China’s aluminum-silicon alloy industry could slide 30 percent to 80,000 to 100,000 tonnes this year, according to Shanghai Sigma Metals Inc., the country’s largest aluminum alloy producer.