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China’s steel export volumes inched down 0.2 percent to 5.22 million tonnes in June from 5.23 million tonnes a month earlier, according to preliminary Chinese customs data.
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Chinese steel mills have cut their H-beam export prices for September shipment due to lower export transactions and further declines in domestic prices.
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The outlook for China’s nonferrous metals industry for the second half of the year isn’t an optimistic one, according to an official at the China Nonferrous Metals Industry Association (CNIA).
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China’s steel plate export prices have fallen again over the past two weeks as producers push for sales in falling markets at home and abroad.
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Major Chinese steel mills are not concerned by shrinking steel prices as they are making money "as banks," according to Credit Suisse Group AG vice president Philip Killicoat.
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As the Chinese steel industry slows down, major consolidation efforts and foreign markets will play a role in sustainable growth in the Asian nation, according to John Lichtenstein, managing director of Accenture Plc’s global metals industry practice.
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China’s economy is slowing due to a potential real estate bubble and a dip in export demand, and the resulting squeeze could hurt global steel markets as China scrambles to find a home for excess capacity, according to one analyst.
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Chinese antimony smelters are halting production due to continuing market weakness, market sources said.
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China’s Ministry of Transport has approved plans to build iron ore berths of up to 400,000 deadweight tonnes at Ningbo-Zhoushan Port in Zhejiang province.
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Chinese steel mills have halted scrap imports after prices rose beyond what mills can afford in a weakening domestic market.
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China has warned the Philippines, an important exporter of nickel ore and nickel, that a territorial dispute over islands in southeast Asia could hurt the two countries’ trade relationship.
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Recent talk of a Chinese economic slowdown has been significantly overstated, according to Wiktor Bielski, managing director and global head of commodity research at VTB Capital Plc.
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Chinese exports of cold-rolled coil fell for a third consecutive month in February, with participants anticipating little improvement in March.
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Vehicle sales in China rose much less than expected last year, and while sales will accelerate again, a burgeoning class of domestic and foreign automakers could be crowding the market, according to one industry analyst.
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Caterpillar Inc. plans to expand its plant in Xuzhou, China, by 2016 in order to increase production of hydraulic excavators by 80 percent.
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The U.S. Court of Appeals for the Federal Circuit has pushed back the deadline by 30 days for filing a rehearing request in a case involving the application of countervailing duties to non-market economies, such as China and Vietnam.