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Chinese hot-rolled steel coil export prices climbed again Monday amid improving market sentiment, sources said.
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Chinese steel plate export prices rose another $10 per tonne this week as producers raised tags in response to a firm domestic market.
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China’s iron ore import market gained momentum Thursday on stronger steel prices and tight supply.
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China has approved an export quota of 40,672 tonnes of antimony and antimony products for the first half of next year, according to its Ministry of Commerce.
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China’s refined copper exports climbed for a third consecutive month in November as smelters there were said to have increased sales of toll-rolled product after a tax cancellation and improved export arbitrage.
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China’s metallurgical coal import market was stable during the week ending Dec. 21, traders told AMM sister publication Steel First.
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Three people have been arrested in China for allegedly smuggling antimony, according to a Dec. 21 report in Guangzhou Daily.
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China has apparently decided to heed a World Trade Organization (WTO) ruling by removing a range of raw material export taxes that were the target of a successful complaint.
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China’s crude steel output fell 0.8 percent to just shy of 1.95 million tonnes for the first 10 days of December from 1.96 million tonnes in late November, China Iron and Steel Association (Cisa) data show.
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The first-quarter outlook for China’s stainless steel market is upbeat despite rising supply.
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Despite recent speculation that the Chinese government could support domestic iron ore producers by slashing taxes by as much as half, such a move may be unlikely as it would be very complicated and possibly ineffective in practice, sources told AMM sister publication Steel First.
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Speculation is mounting that China will cut export taxes on ferroalloys in 2013, not only to support local producers but also in response to a ruling that the tariffs broke World Trade Organization (WTO) rules.
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Chinese automobile sales rose to nearly 1.8 million units in November, according to data released this week by the China Association of Automobile Manufacturers (CAAM), up 11.5 percent from a month earlier and 8.2 percent higher than the same month last year.
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Aluminum bucked the rising trend in Chinese metals production in November, with the light metal registering a seven-month low as other metallics reached new heights.
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China’s largest ferrosilicon producer, Erdos Metallurgy Group Co. Ltd., expects local ferrosilicon prices to remain firm until the Chinese New Year in February.
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China’s steel exports rose again last month as bookings went up following a price increase in October.
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China’s iron ore imports jumped in November to the second-highest monthly level in history as steel mills replenished stocks.
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Henan Yuguang Gold & Lead Co. Ltd., China’s largest lead smelter, plans to boost its lead capacity by 75 percent and zinc capacity by 67 percent by 2015.
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Brazilian miner Vale SA is losing $2 to $3 per tonne on iron ore shipped to China due to a port ban on its Valemax vessels, according to Jose Carlos Martins, the company’s iron ore chief.
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China’s crude steel production for the final 10 days of November increased 0.4 percent from the preceding 10 days, according to estimates from the China Iron and Steel Association (Cisa).
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Hong Kong Exchanges & Clearing Ltd. (HKEx) both coexists and competes with China, a situation that won’t change as China opens up its capital account and links between the two countries deepen, a senior HKEx executive said.
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Chinese ferrosilicon tags increased further this week as sentiment was buoyed by higher prices from steel mills.
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Chinese steel plate export prices saw a further dip this week due to slow transactions and a decline in the domestic market.
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China’s spot steel tags were mostly unchanged Tuesday as market players stood on the sidelines due to a cloudy outlook.