-
China’s feverish iron ore imports may have turned the corner, falling in May for the first time this year as rising inventories at major Chinese ports cool off buying.
-
Copper scrap shipments bound for China are facing delays of up to three weeks due to tighter Customs inspections in response to alleged tax evasion, market sources said.
-
Coke producers in Shanxi, China’s largest coal- and coke-producing region, are set to raise prices and production on the back of recovering demand from steel mills.
-
China’s antimony market is stable this week as supplies remain tight.
-
The Chinese central government is rumored to be considering a hot-rolled coil export tax rebate of 8 percent or 13 percent to encourage exports, sources said.
-
Some cobalt market players in China are considering importing the metal as the spread between international and domestic prices widens.
-
Major silicon traders in China have been asking the country’s central government for lower export taxes in a deteriorating market, according to market sources.
-
Chinese domestic hot-rolled coil prices have gone up by 100 yuan ($15) per tonne from last week as traders anticipate that steelmakers might have to pay more than expected for iron ore this year.
-
China’s steel industry leaders are making a concerted effort to play down steel market prospects for this year, as they promise—yet again—to bring more order to iron ore supply and steel production.
-
The Chinese central government has asked mills to speed up the elimination of inefficient steel capacity before demand completely recovers, according to the country’s Ministry of Industry and Information Technology.
-
As much as 2 million tonnes of annual primary aluminum capacity has been restarted in recent months in China, a Cofco Futures Brokerage Co. executive estimated.
-
Shaanxi Longmen Iron & Steel Group Co. Ltd. plans to almost double its crude steel capacity to 6 million tonnes per year within three years.
-
China’s lead and zinc production dropped in April compared with the previous month, mostly due to tight concentrate supplies.
-
Prices for hot-rolled coil in China’s domestic market changed little this week, with few signs of a strong recovery in May.
-
The benchmark iron ore price negotiation mechanism restricts the development of Chinese mills and should be “broken,” a senior Chinese industrial executive said at Metal Bulletin’s 7th Annual Far East Steel and China Iron Ore Conference in Beijing.
-
China’s aluminum semis output rose last month amid improved demand from the Chinese domestic market.
-
Chinese state-owned Xinyu Iron & Steel Co. Ltd. has acquired Jiangxi Hongdu Steel Co., according to the provincial government’s Web site.
-
Chinese welded pipemakers’ export offers tumbled by around $100 this month on weak demand and lower raw material prices.
-
Chinese imports of nonferrous metals continue to rise, with the nation’s lead, zinc and refined copper intake hitting fresh records in March.
-
China’s lead market is tightening as supply struggles to catch up with increasing demand, particularly from the auto sector.
-
Most of China’s zinc mines have resumed production, returning more than 85 percent of China’s zinc mining capacity to operation, up from 20 percent in February, market sources estimate.
-
The Chinese central government will soon send a delegation to the United States to discuss the anti-dumping petition on Chinese welded and seamless steel pipe, the country’s Ministry of Commerce said Wednesday.
-
Chinese export offers for commodity-grade plate are unchanged at around $480 to $500 per tonne f.o.b., with few bookings made, traders said.
-
Steel futures fell Thursday on the Shanghai Futures Exchange (SHFE) after Baosteel Group Corp. Ltd. cut prices for May, while surging trading volumes and open interest showed shorts are gaining the upper hand.