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China’s finished steel exports rebounded in September from a six-month low as overseas buyers returned to the market when Chinese prices bottomed out.
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Spot iron ore prices gained another 2 percent Tuesday as Chinese mills restocked following the end of the week-long National Day holiday, although steel product prices lost ground.
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Spot iron ore prices gained another 2 percent Tuesday as Chinese mills restocked following the end of the week-long National Day holiday, although steel product prices lost ground.
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Steel mills in China’s eastern provinces of Shandong and Henan have been ordered to cut production further to meet national emissions targets.
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Steel mills in China’s eastern provinces of Shandong and Henan have been ordered to cut production further to meet national emissions targets.
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Spot prices for imported iron ore jumped more than 3 percent Friday amid Chinese restocking after a week-long holiday.
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The London Metal Exchange’s board on Friday will consider the possible launch of LME mini-contracts through the Singapore Exchange (SGX) in the first quarter of next year, sparking increased debate in the runup to LME Week starting Oct. 11.
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The China Iron and Steel Association (Cisa) acknowledges that the Chinese steel industry must adjust in light of the government’s plan to reappraise the country’s growth, Qilin Deng, president of Wuhan Iron & Steel (Group) Corp. (Wisco), said.
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Asia is “incredibly important” in price determination on the London Metal Exchange, Liz Milan, managing director of LME Asia, said after being quoted in a local paper as downplaying the need for Asian prices.
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Constrained supply and quality concerns mean large Chinese steelmakers will unlikely be able to reduce their dependence on imported iron ore in lieu of domestically produced material, market participants said.
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Chartering rates for capesize vessels traveling along the main iron ore routes to China have risen as inquiries begin to filter through from Chinese customers, broker sources said.
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Weak iron ore demand likely will drive spot prices for imported material to lower levels after Chinese workers return from the Mid-Autumn Festival next week, according to several market participants.
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Zijin Mining Group Co. Ltd. has suspended its Yinyan tin mine in China’s southern coastal Guangdong province after the tailings dam collapsed due to mud and rock slides triggered by Typhoon Fanapi.
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China’s hot-rolled coil export volumes will probably rebound this month after registering a sharp decline in August.
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Zhuzhou Smelter Group Co. Ltd. plans to shift as much as 140 tonnes of refined indium to parent company China Minmetals Corp., giving the market a glimpse of China’s large inventories of indium.
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Several steel mills have been allowed to restart production in Wu’an city in the top steelmaking province of Hebei in northern China, according to market sources.
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Chinese H-beam export offers have risen to $670 to $680 per tonne f.o.b. amid rising domestic market prices.
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China’s provincial governments, long lukewarm in their enthusiasm for implementing the central government’s industrial policies, now appear to be responding to a clear deadline the end of China’s 11th Five-Year Plan.
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China’s daily crude steel output fell further in the final 10 days of August as restrictions on power supply to some areas began to take effect.
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Chinese magnesium export prices narrowed this past week, but are likely to get support from higher costs, market participants said.
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Chinese pig iron prices have received a boost from tight supply and the threat of blast furnace shutdowns.
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At least one Chinese steelmaker claims it has reached fourth-quarter iron ore contracts with Rio Tinto at $127 per tonne f.o.b., marking a 12.4-percent decline from the previous quarter, industry sources in China said.
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Chinese silicon export prices have risen to $2,460 per tonne delivered, the highest level achieved in nearly two years, due to both tight supply and improving demand.
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Nickel pig iron (NPI) smelters in northern China’s Shanxi province have been ordered to shut for at least one month to save energy and meet the Chinese central government’s emissions targets, sources said.