May iron ore futures, which is the most heavily traded on the Dalian Commodity Exchange, for the week of March 24-31, 2023, rose 4.8% from the previous week – to 907 Yuan/t ($132.13/tonne). This put iron ore quotations back on the rise after two weeks of decline. On the Singapore Exchange, May futures contracts, as […]
Report: The resurgence of iron ore prices amid low inventories in China Read More »
According to Japanese customs statistics, Japan’s iron scrap exports amounted to 529,123 tonnes in February this year, an increase of 3.2% compared to 512,866 tonnes over the same month last year. From January to February this year, Japan exported 1.10 million tonnes of scrap, up by 35% over the same period last year. During the
China’s exports of steel products reached 12.19 million tonnes during the January-February period, up by 49% over the previous year, according to data from the General Administration of Customs. Exports totalled $14.98 billion, up by 27.5% year on year, which made the average export price reach 1228.69 Yuan/t, down by 14.4% year on year. In
China’s steel exports increased by 49% from January to February Read More »
The Australian mining group BHP and Chinese steel group HBIS have agreed to test carbon capture, utilization and storage (CCUS) technologies at HBIS steel mills. As part of the project, it is planned to develop and test technologies that can be integrated into steel production processes to reduce carbon dioxide emissions. BHP CEO Mike Henry
A collaboration between Australian BHP and China’s HBIS Carbon Capture Read More »
Iron ore futures, the most traded on the Dalian Commodity Exchange for March 17-24, 2023, fell by 6.4% from the previous week – to 866.5 Yuan/t ($126.43/t). It is the second consecutive decline after reaching its highest level in 8 months. On the Singapore Exchange, April futures contracts, as of March 24, 2023, decreased by
Report: Iron ore prices drop amid China’s restrictions on steel production Read More »
In February this year, Japan’s crude steel production decreased by 4.3 per cent compared to the previous month and by 5.3 per cent compared to February 2022, totalling 6.91 million tons, according to data released by the Japan Iron and Steel Federation (JISF). Meanwhile, total iron ore production in Japan reached 4.98 million tonnes in
Japan’s crude steel and iron ore production declined in January-February Read More »
Final steel prices from January to February this year witnessed a slight upward trend amid the easing of Covid-19 measures and a slight improvement in demand from steel users, according to the China Iron and Steel Association (CISA). From January to February, China’s average daily crude steel production was 2.859 million tonnes, up by 13.8
China Iron and Steel Association: China’s steel prices rose in March Read More »
From January to February 2023, steel firms’ output in China rose by 5.6% compared to the same period in 2022 to reach 168.7 million tonnes, according to data from China’s National Bureau of Statistics (NBS). According to the world steel organization “Worldsteel”, in January 2023, China produced 79.5 million tonnes of steel, which is 2.3%
China’s steel production increased by 5.6% in January-February 2023 Read More »
China Iron and Steel Association (CISA) announced that in early March (March 1-10) of this year, the average total daily raw steel production of large and medium-sized steel companies in China amounted to 2.1517 million tonnes, down by 3.08% compared to late (February 21-28) this year. In late February (21-28) this year, the average total
China steel mills’ daily steel output fell 3.08% in early March Read More »
China is moving to allow all domestic companies to import Australian coal, signalling an end to trade restrictions imposed in late 2020. Ports and customs offices have been advised to allow goods shipments from Australia. Earlier this year, Chinese authorities have given four principal importers permission to resume purchases of Australian coal, with shipments beginning
China removes all restrictions on coal imports from Australia Read More »
SteelAsia Manufacturing Corp., the Philippines’ top steel producer, is equipping its steel mill in Calaca city, Batangas, with SMS group-developed Digital Solutions that will provide a more efficient way to boost output without increasing its carbon footprint. Latest combustion technology to increase plant output by 20 per cent Digital solutions to predict machine failures at
China, the world’s largest iron ore consumer, imported iron ore in January-February of 2023, as buyers expected domestic steel demand to rise after the government lifted strict coronavirus containment measures. China imported 194 million tonnes of steelmaking components in January and February, an annual increase of 7.3 per cent, the highest ever for the two
China’s iron ore imports increased by 7.3% in January-February 2023 Read More »
On February 20 this year, the total domestic inventory of the five major finished steel products in 21 principal cities in China reached 13.72 million tonnes, up by 1.0 million tonnes or 2.3 per cent compared with February 10, the China Iron and Steel Association (CISA) announced. In particular, as of February 20, domestic inventories
China’s finished steel products stock rose 2.3% in mid-February Read More »
According to Bloomberg News, a statement on the local government website said a so-called ” emergency response level two ” is when Tangshan City, 150 kilometres (93 miles) east of Beijing, expects moderate and severe air pollution. The statement added that industrial producers must follow relevant guidelines to reduce emissions. Companies with an “A” classification,
North China’s steelmaking centre orders measures to cut air pollution Read More »
Iron ore futures, the most traded on the Dalian Commodity Exchange, for the week of February 17-24, 2023, rose 1.5% from the previous week – up to 909.5 Yuan/t ($131.2/t). On the Singapore Exchange, March futures were also up by 1.4% – up to $128.5 a tonne compared to the price of February 17. Iron
Iron ore prices rise as steel production increases in China Read More »
The Italian company Danieli announced that it would supply the Bangladesh-based Unitex Steel plant with a green steel plant. The supply includes auxiliary stations for steam and water treatment as well as the latest electrical and control systems. The plant will operate on a highly efficient 100-tonne Digimelter featuring a Q-One digital feeder, continuous scrap
Thanks to pent-up demand after the easing of quarantine and efforts to contain prices and stabilize supplies, China’s steel industry will have an upward trend in 2023. This was discussed at the China Iron and Steel Association (CISA) conference. The positive outlook for steel producers is based on the prospects’ improvement in steel-consuming industries such
Report: China’s steel industry is seeing an upward trend in 2023 Read More »
In 2022, China’s imports of finished steel products will decline by 25.9% compared to 2021, reaching 10.57 million tons, the lowest level since 1993. He Wenbo, CEO of China Iron and Steel Association (CISA), said. Steel imports to China declined due to a significant increase in the cost of products on the back of rising
China’s imports of finished steel products fell to a 30-year low Read More »
China Iron and Steel Association (CISA) announced that the average total daily raw steel production of large and medium-sized steel enterprises in China in mid-January (January 21-31) of this year totalled 1.9872 million tonnes, up 2.61% compared to mid-January (January 11-20) this year. In mid-January this year, the average total daily raw steel production of
China’s daily steel production rose 2.61% in late January Read More »
China’s steelmakers aim for an excellent start to the New Year, although some companies have faced lower profitability due to higher raw material prices and lower finished product steel prices. As well as carrying out repairs to a few factories as part of the annual plans. S&P Global reports that blast furnaces are operating as
China’s steel companies aim to increase production after the Chinese New Year holidays Read More »
India’s Tata Steel reported a consolidated net loss of INR 22.240 billion ($268.92 million) in the third quarter (Oct-Dec) of the 2022-23 financial year, compared to a consolidated net profit of INR 95.72 billion ($1.15 billion) in the corresponding quarter from the previous fiscal year, according to the company statement on Tuesday, February 7th. The
Tata Steel reports losses in the third quarter of the 2022-23 fiscal year Read More »
Korea’s YK Steel has commissioned SMS group to supply it with a new integrated small smelting and rolling mill plant, including all electrical and technical systems, instead of relocating and upgrading an existing plant, initially planned for the end of 2021. This means that it will take advantage of the latest technologies being delivered and
In 2022, among 41 industrial sectors in China, 21 saw a year-on-year rise in gross profit, while 19 saw a decline, and one sector turned from a loss into a profit, as announced by China’s National Bureau of Statistics (NBS) on January 31. In 2022, the ferrous metal smelting and rolling sector reported a total
Chinese steel companies’ profits decline by 91.3% in 2022 Read More »
Indonesia applied for consultations on anti-dumping and tariffs on stainless steel products to the World Trade Organization last week. A representative of the country’s Ministry of Commerce said anti-dumping duties imposed by the European Union on stainless steel from Indonesia had severely reduced exports. The EU imposed anti-dumping duties of 21% on stainless steel cold-rolled
For the second year in a row, the rate of steel consumption in China decreased, reaching 914 million tonnes in 2022, a decline of 3.3% compared to 2021, equivalent to 31 million tonnes, and by 8.3% compared to 2020, equivalent to 83 million tonnes. In 2022, China’s crude steel production decreased by 2.2% compared to
China’s steel consumption decreased for the second year in a row Read More »
Industrial data showed that major steel mills in China saw their average daily crude steel production grow by 0.51% in early January compared to the rate recorded in late December 2022. Daily crude steel production reached 1.93 million tonnes in early January, according to the China Iron and Steel Association. The data showed that the
China’s daily crude steel production rose in early January Read More »
Japan’s crude steel production, the world’s third-largest producer, fell 7.4% in 2022 from a year earlier due to a slow recovery in auto production and weak export demand amid a slowdown in the global economy. Figures from the Japan Iron and Steel Association showed production fell for the first time in two years to 89.23
Japan’s crude steel production drops 7.4% in 2022 due to slower auto production Read More »
Data from the National Bureau of Statistics showed that China’s crude steel production in 2022 decreased by 2.1%, or 21.73 million tonnes, compared to 2021, to reach 1.013 billion tonnes in the second consecutive annual decline. Some sources said that China would continue to reduce steel production in 2023, which will provide support to steel
China’s crude steel production declined in 2022 for the second year in a row Read More »
In 2022, iron ore production reached 1.6 million tonnes and steel -1.2 million tonnes. In 2022, ArcelorMittal production of rolled products decreased by 76.1% compared to 2021, reaching 1.1 million tonnes, or 22.8% of the company’s business plan for the production of steel products. Cast iron production decreased by 70% compared to 2021, reaching 1.6
ArcelorMittal achieves 20-25% of production capacity in 2022 Read More »
Oil prices rose in early trading on Monday, January 9, after an influx of travellers to China following the reopening of borders raised fuel demand expectations and partially offset fears of a global recession. Brent crude futures rose by 53 cents, or (0.7%), to record 79.10 dollars per barrel, and West Texas Intermediate crude rose
Oil prices rise after China opens its borders Read More »