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Chinese imports of coking coal in November climbed to their highest levels since January, analysts at US investment bank Citi said in a research note December 21.
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London Metal Exchange (LME) three-month steel billet official prices prices edged down December 21, after rallying earlier in the week.
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OTC iron ore prices climbed on Wednesday December 21, with the few trades concluded moving the market up, brokers told Metal Bulletin.
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European rebar exporters have passed on higher ferrous scrap costs to Algerian rebar consumers for January production and shipment.
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China’s imports of iron ore, coking coal and ferrous scrap all rose in November, as bookings increased after prices plunged.
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Offers for cold rolled coil (CRC) to India, mainly of Chinese origin, have dried up as prices for the material in the domestic market continue to be lower than export offers.
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Production of crude steel marginally increased in November 2011, according to data from the World Steel Association (worldsteel).
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Anglo American’s South African iron ore mining arm, Kumba, has made its first shipment of ore from its 9 million tpy Kolomela mine, five months ahead of schedule, Anglo said in a statement on Tuesday December 20.
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Mainstream prices of 63.5% Fe Indian fines stood at $139-140 per tonne cfr Chinese ports on Tuesday December 20, down from $141-142 on Monday.
Due to a reporting error, a December 20 story incorrectly stated that the Spot price for 63.5% Fe iron ore was $141-142 per tonne cfr on Tuesday.
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China’s cold-rolled coil exports rose 25.6 percent month on month in November as exporters took advantage of falling prices the previous month and moved their shipments forward.
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China’s imported iron ore market warmed slightly on Wednesday December 21 as several buyers returned the market for restocking.
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Both Shagang and Hebei Steel will keep their rebar and wire rod prices flat for the last ten days of December, both companies announced on Wednesday.
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Hebei Steel Group will cut its steel flat products prices for January shipment to promote sales in a slow market.
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ASX-listed Atlas Iron has agreed to sell its Balla Balla magnetite project to Forge Resources for $40 million.
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Baosteel Stainless has kept its bid price for high-grade nickel pig iron unchanged in January, due to an expected fall in nickel ore and refined nickel prices, according to sources.
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An unnamed buyer has made a non-binding offer to purchase all of Lakeside Steel Corp.’s common shares for Canadian 40 cents (38.8 cents) per share.
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International tubing and bar distributor Marmon/Keystone LLC has promoted two executives.
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Vallourec SA’s new small-diameter pipe mill in Youngstown, Ohio, is nearing completion, with hot commissioning confirmed for the end of this month and industrial start-up expected by the second quarter of 2012.
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WSP Holdings Ltd. continued to gush red ink in the third quarter as a boost in export sales was not enough to offset fierce competition within China.
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U.S. crude steel output inched higher on a per-day basis in November even as overall production dipped slightly in the 30-day month, World Steel Association (WorldSteel) data show.
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After months on the sidelines, steel distributors appear to have finished whittling down their inventories and are again restocking in a big way, market sources told AMM.
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AK Steel Corp. has increased spot prices for all carbon flat-rolled steel products by $50 per ton ($2.50 per hundredweight) effective immediately with all new orders, the company said Tuesday.
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Industrial production index and capacity utilization rates for primary metal producers hit highs in November not seen in three years, according to the latest Federal Reserve Board report.
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Ukrainian iron ore pellet producer Ferrexpo is gaining market share in Asia, a company spokeswoman said.