The government in China is set to reimpose coal import duties again from April 1, 2023, as the import tariff expires. China’s Ministry of Finance said import duties of between 3 and 6% on coal will come into effect again as the zero duties were only imposed from May 1, 2022, to March 31, 2023, […]
China reimposes tariffs on coal imports Read More »
In November this year, Japan’s iron and steel product exports reached 2.78 million tonnes, up 12.1% month-on-month and down 3.6% year-on-year, according to customs statistics from the Japan Iron and Steel Federation (JISF). From January to November this year, Japan’s iron and steel product exports amounted to 29.63 million tonnes, down 6.2% over the same
Japan’s steel exports decline by 6.2% in January-November 2022 Read More »
Figures from the National Statistics Authority showed today, 27 December, that the profits of major industrial companies in China fell by 3.6% per annum during the first 11 months of this year. Industrial enterprises with annual business revenue of at least 20 million Yuan (about 2.88 million U.S. dollars) each reported a combined profit of
China’s industrial profits decreased by 3.6% during the first 11 months of 2022 Read More »
From January to November this year, China’s rebar total production reached 218.151 million tonnes, down 8.1% year on year, according to China’s National Bureau of Statistics. In the first 11 months, wire coil output reached 130.346 million tonnes, down 7.7% yearly. In November alone, China’s rebar and wire coil output reached 19.785 million tonnes and
China’s rebar production decreased by 8.1% in January-November 2022 Read More »
From January to November this year, among China’s 41 industrial sectors, 20 saw year-on-year increases in total profits, while 21 saw decreases in gross profits, as announced by the National Bureau of Statistics (NBS) on December 27. In the indicated period, the ferrous metal smelting and rolling sector reported total profits of 22.92 billion Yuan
Chinese steel companies’ profits fell by 94.5% in the first 11 months of 2022 Read More »
China Iron and Steel Association (CISA) has announced that in mid-December of this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totalled 1.9638 million mt, down 1.15 per cent compared to early December this year. In early December, the average aggregate daily
CISA: China’s daily steel production decreased in mid-December Read More »
The country’s top state-owned assets regulator said on December 21 that China has agreed to restructure two state-owned iron and steel giants companies. Sinosteel Group Corporation Limited, a metallurgical and mineral resources developer and processor, will be integrated into China Baowu Steel Group Corporation, a major player in the iron and steel industry, according to
China approves restructuring of two major state-owned steel enterprises Read More »
Chinese coke plants have continued to benefit from good demand abroad. In the first 11 months of the current year, China exported 8.41 million mt of metallurgical coke, up 40.4% year on year, as announced by the Chinese customs authorities. Meanwhile, China’s exports of coal in the given period amounted to 3.68 million mt, up
China’s coke exports up 40.4% in January-November Read More »
In January-November 2022, China’s steel companies reduced steel production by 1.4% compared to the same period in 2021 – to 935.11 million tons. The production of steel products in China for 11 months reached 1.225 billion tons, decreasing by 0.7% to January-November 2021. The output of pig iron during this period decreased by 0.4% y/y
China’s steel production is 935.11 million t in January-November 2022 Read More »
China’s steel exports rose by 8% o 5.59 million tonnes (mnt) in November 2022 as compared with 5.18 mnt in the previous month, according to the China’s General Administration of Customs. On a yearly basis, export volumes increased by 28% as against 4.36 mnt seen in November 2021. During the first eleven months of 2022
China’s steel exports up 8% in November 2022 Read More »
Tata Steel Long Products has awarded Danieli with the order for a new SBQ bar and wireod mill to be installed in Jamshedpur –East Singhbhum district of Jharkhand– the first planned industrial city in India. It will produce 500,000 tpy of bars and wirerod. The new mill will roll 150×150, 200×200 and 240×200 square billets
Tata Steel Selects Danieli for Its New SBQ Mill Project Read More »
Morgan Stanley raised its forecast for China’s economic growth next year, noting that a rapid restart after the “zero Covid” policy and continued steps toward policy easing will support the economy. And according to Bloomberg, the bank’s economists wrote in a note on Tuesday that they expect China’s GDP to grow 5.4% in 2023 instead
“Morgan Stanley” raises its forecast for China’s economic growth next year Read More »
Japan’s Ministry of Finance has announced that it has decided to impose antidumping duties on imports of galvanized steel wire originating in China and South Korea for a period of five years, following an investigation which started on June 14, 2021. The antidumping duties are at 26.5% – 41.7% for China and 9.8% – 24.5%
Japan imposes AD duties on galvanized steel wire from China and S. Korea Read More »
Tata Steel, one of the world’s leading steel producers, has signed a memorandum of understanding with SMS group to reduce carbon emissions at Tata’s integrated steel plants across India. SMS group will contribute its leading technological expertise in designing, supplying, and commissioning plants with significantly lower CO2 emissions. Burkhard Dahmen, CEO and Chairman of SMS
SMS group and Tata Steel sign MoU to decarbonize integrated steel plants Read More »
In September this year, domestic steel product consumption in Japan amounted to 3.91 million metric tons, rising by 3.1 % compared to August and declining by 7.3 % year on year, according to the data released by the Japan Iron and Steel Association (JISF). Meanwhile, in the January-September period this year, domestic steel consumption in
Japan’s steel consumption down 7.1% in Jan-Sept 2022 Read More »
In October this year, China’s exports of steel bars amounted to 0.65 million mt, up 79.5% year on year and rising by 14 % month on month, while exports of wire rod and angles/channels amounted to 160,000 mt and 320,000 mt, up 4.0 % and up 151 % year on year, while increasing by 6.7
The Indian government heeded local producers’ pleas and abolished export duties on the main iron and steel products. The suppliers now intend to increase domestic prices. On November 18, the Indian Ministry of Finance lifted export duties on carbon flats as well as carbon and alloy longs. The duties for pig iron, pellets and iron
India abolishes export duty on key iron and steel products to boost local industry Read More »
In the January-October period this year, China’s rebar production totaled 198.344 million mt, down 13.8% year on year, according to China’s National Bureau of Statistics (NBS). In the first ten months, Chinese wire rod production amounted to 119.558 million mt, down 8.4% year on year. In October alone, China’s rebar and wire rod production amounted
China’s rebar output down 9.5% in January-October 2022 Read More »
China’s major steelmaker Ansteel broke ground on a 22.9-billion-yuan (about 3.25 billion U.S. dollars) underground iron ore mine project in northeast China’s Liaoning Province on Wednesday. It is estimated that the Xi’anshan mine, located 7 kilometers southwest of Qianshan District in Anshan City, will produce an annual 30 million tonnes of iron ore and 10
China breaks ground on major underground iron ore mine project Read More »
In August this year, Japanese ferrous scrap exports amounted to 495,633 mt,falling by 9.1% compared to 545,311 mt in the same month of the previous year, according to customs statistics. In the January-August period this year, the country exported 4.08 million mt of scrap, falling by 23.7% year on year. During the given period, South
Japan’s steel scrap exports down 23.7% in January-August 2022 Read More »
China’s increased spending this year on coal-fired electricity and steel production threatens its climate goals and could even turn them into a missed investment, according to clean air campaigners. The acceleration in approvals for a package of projects in the first half of 2022, which represents up to 230 billion yuan ($32 billion) in investment,
China’s $30 billion investment in coal hurts its climate goals Read More »
In the January-August period this year, China’s rebar production totalled 155.426 million mt, down 13.8% yearly, according to China’s National Bureau of Statistics (NBS). In the first eight months, wire rod production amounted to 95.906 million mt, down by 12.3% yearly. In August alone, China’s rebar and wire rod production amounted to 19.252 million mt
China’s rebar output down 13.8% in January-August 2022 Read More »
From January to August this year, China’s steel bars exports totalled 4.95 million tonnes, down 21.5 per cent year on year, while exports of wire coil reached 1.39 million tonnes, down 1.7% year on year. Meanwhile, China’s export volume of angles/channels reached 2.38 million tonnes in the specified period, up 25.3% yearly and 10.5 percentage
China’s steel bar exports down 21.5 % in Jan-Aug 2022 Read More »
SMS group announced today that Hindalco, one of the world’s largest aluminium companies, has placed an order for the supply of a high-performance cold rolling mill for wide aluminium strip. The new mill will be constructed within the periphery of Hindalco’s Aditya Aluminium Unit in Lapanga in Odisha, India. The facility is located near another
SMS group secures prestigious cold mill order from Hindalco Read More »
Mining group Rio Tinto announced that it will team up with China Baowu Steel Group to develop a Western Range iron ore project in the Pilbara region of Western Australia, with a joint investment of 2 billion U.S. dollars. According to a media release, Rio Tinto contributes 1.3 billion dollars and Baowu invests 700 million
In pursuing a shared ambition to reduce carbon emissions from iron and steel production, JSW Steel, the flag ship company of the $22 billion JSW Group, has signed a memorandum of understanding (MOU) with SMS group to explore multiple cutting-edge solutions and R&D projects to reduce carbon emissions in its iron and steel making operations
SMS group and JSW Steel sign MOU for carbon reduction projects Read More »
In August this year, China (china)’s producer price index (PPI) for its ferrous metal smelting and rolling sector declined by 15.1 % year on year, with the declining pace 5.6 percentage points faster compared to that recorded in July this year, while down 4.1 % month on month, according to the data released by China
China’s steel industry PPI declines by 15.1 % in August Read More »
In the January-August period this year, China imported 722.922 million mt of iron ore (iron-ore), down 3.1 % year on year, as announced by the Chinese customs authorities on September 7. In August alone, China imported 96.208 million mt of iron ore, down 1.3 % year on year, while up 5.4 % month on month.
China’s iron ore imports down 3.1% in January-August 2022 Read More »
In July this year, Japan (japan)’s iron and steel product exports amounted to 2.48 million metric tons, dropping by 19.8 % month on month and by 18.9 % year on year, according to the customs statistics released by the Japan (japan) Iron and Steel Federation (JISF). In the January-July period this year, Japanese iron and
Japan’s steel exports down 2.8% in January-July 2022 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021. Africa produced 1.2 Mt in July 2022, down 5.4% on July 2021. Asia and Oceania produced 110.1 Mt, down 5.2%. The EU (27) produced 11.7
World crude steel production declined by 6.5% in July 2022 Read More »