Washington and Tokyo are in the final stage of talks to exempt a portion of U.S. imports of steel from Japan from extra tariffs imposed in 2018 by U.S. President Donald Trump, sources close to the matter said. The sources said that the two countries are discussing the establishment of a duty-free import quota, but […]
U.S. close to finalizing tariff exemption for Japan steel imports Read More »
The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery. In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 —
IMF cuts 2022 global growth forecast Read More »
According to the Chinese customs authorities, China’s steel scrap imports amounted to 555,500 tons in 2021. The largest scrap exporting countries were Japan with a volume of 392 thousand tons, representing 70.6% of the total imports, and South Korea with a volume of 95,700 tons representing 17.2% of the total volume of imports for 2021.
China imports 555,500 mt of steel scrap in 2021 Read More »
Iron ore imports arriving in China decreased by 3.9% year on year to 1.124 billion mt in 2021, as announced by the Chinese customs authorities. This result was expected due to the curbs in production for steel which started in June last year. In the second half of the year, iron ore consumption declined by
China’s iron ore imports down 3.9% in 2021 Read More »
In 2021, China imported 14.268 million mt of finished steel, down 29.5 % year on year, as announced by the Chinese customs authorities. A similar trend was seen in the semi-finished steel segment and, though the final data are available yet, the total imports of steel (finished and semi-finished) are expected to be around 27-28
China’s finished steel imports down 29.5% in 2021 Read More »
In 2021, China exported 66.895 million mt of finished steel, up 24.6% year on year. Though overall production volumes in China dropped in 2021, lower consumption (especially in the second half of the year) led to a sharp increase in exports. But at the same time, the sharp increase compared to 2020 was partly due
China’s steel exports increase by 24.6% in 2021 Read More »
China‘s steel output declined in 2021 amid the country’s endeavor to achieve carbon peaking and carbon neutrality goals. The country produced an estimate of 1.03 billion tonnes of steel last year, down 35 million tonnes from 2020, said the China Iron and Steel Association. In the first 11 months of 2021, China’s steel production reached
China’s steel output declines in 2021 Read More »
China will step up tax and fee cuts next year to stabilize economic growth and promote high-quality development, the country’s taxation authority has said, pledging to provide stronger support to smaller firms. The newly added tax and fee cuts in 2021 are expected to exceed 1 trillion yuan (about 157 billion U.S. dollars), Wang Jun,
China to step up tax, fee cuts to stabilize growth next year Read More »
Shi Hongwei, vice executive secretary of China’s Iron and Steel Association (CISA), has stated that China’s crude steel output in 2021 will likely total 1.03 billion mt, down 35 million mt or 3.3% compared to 2020, while 990 million mt of apparent consumption of crude steel is anticipated in the given year, down by 5.5%
China’s crude steel output and usage to drop by 3.3% and 5.5% in 2021 Read More »
The China Iron and Steel Association (CISA) has announced that in mid-December (December 11-20) this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totaled 1.8905 million mt, down 2.66 percent compared to early December (December 1-10). In early December, the daily steel
China’s daily steel output declines, stocks still rise Read More »
Indian steelmaker Tata Steel has drawn up plans to augment annual production from its captive iron ore mines to 45 million mt within the next five years from the current output of 30 million mt per year, a company official said. The higher annual iron ore production would come from the expansion of its operational
Tata Steel to ramp up iron ore output 50% within five years Read More »
Iron and steel industry experts in china suggest that importing more semi-finished steel (crude steel) like billets from countries including India, Indonesia, Russia and Germany is a potential solution to the plight that domestic steel supplies are insufficient to meet the surging demands as China seeks to cut carbon dioxide emission to achieve the carbon
Experts: China may increase imports of semi-finished steel to meet home demand Read More »
China’s major steel mills saw their average daily output of crude steel rise 24.38 percent year on year in mid-February, according to data from the China Iron and Steel Association. Major steel producers churned out 22.82 million tonnes of crude steel in mid-February. Daily production of pig iron jumped nearly 17 percent from a year
China’s daily output of crude steel jumps 24.38 pct in mid-February Read More »
China cut its coal use to 56.8 per cent of energy consumption at the end of 2020, maintaining its target of below 58 per cent, but overall coal consumption continued to rise amid record industrial output and the completion of dozens of coal-fired power plants. The rapid roll-out of renewable-energy capacity and the growing use
China’s coal consumption share falls to 56.8% at end-2020 Read More »
Iron ore price spiked on the first working day in China after the Spring Festival celebration despite supply increase at ports and in the global market. Speculations on expected demand improvement in spring pushed both raw material and steel futures sharply up, boosting spot prices as well. Australian iron ore fines 62% Fe soared by
Iron ore soars to almost $175/t on on the first working day in China Read More »
Daily crude steel output among China’s 318 steel mills declined further to the lowest since late April 2020, or down 3% from January 21-31 to 2.77 million tonnes/day, mainly due to the temporary market quietness just days before the Chinese New Year (CNY) holiday over February 11-17. Some of 318 steel producers including 247 blast-furnace
China’s daily steel production hits to the lowest level in 9 months Read More »
China’s building material sector in China reported steady growth in both output and profits in 2020, official data showed. Building material firms with an annual revenue of more than 20 million yuan (about 3.1 million U.S. dollars) registered combined profits of 487.1 billion yuan last year, up 3.2 percent year on year, data by the
China’s building material sector sees profit growth in 2020 Read More »
In December last year, China’s rebar production totaled 23.58 million mt, up 6.4 percent year on year, 3.6 percentage points faster than the increase recorded in November, according to China’s National Bureau of Statistics (NBS). The month-on-month rise was 1.32 percent in December, following a drop of 2.14 percent in November. Wire rod production in
China’s rebar output rises by 5.1% in 2020, wire rod output up 6.4% Read More »
China’s iron ore market is likely to see supply and demand both weaken this month, according to Mysteel’s latest monthly report released on February 1, suggesting that iron ore prices may continue to fluctuate but will lack support to move up substantially. Regarding iron ore supply, total shipment volumes arriving at Chinese ports this month
China’s iron ore market still weak in February Read More »
Official data revealed that China’s production of iron ore in 2020 increased by 4.3% year on year. China Iron and Steel Association stated that in 2020 crude steel production rose 5.2% year-on-year to exceed 1.05 billion tons, as China is one of the largest steel-producing countries around the world. The association stated that iron ore
China’s production of iron ore increased by 4.3% in 2020 Read More »
In December last year, Japanese crude steel production was up by 3.6 percent compared to the previous month and fell by 3.3 percent compared to December 2019, totaling 7.53 million mt, according to the data released by the Japan Iron and Steel Federation (JISF). Meanwhile, in the given month Japan’s pig iron production totaled 5.64
Japan’s crude steel production is down 16.2% in 2020 Read More »
Just as expected, China’s crude steel output had exceeded 1 billion tonnes for 2020, approximating 1.05 billion tonnes or up 5.2% on year, according to the latest release by the country’s National Bureau of Statistics (NBS) on January 18. The on-year growth was 3.1 percentage points lower than that for 2019, as the battle against
China’s crude steel output had exceeded 1 billion tonnes in 2020 Read More »
Chinese exports grew more than expected in December, customs data showed on Thursday, as coronavirus disruptions around the world fuelled demand for Chinese goods even as a stronger yuan made shipments more expensive for overseas buyers.
China’s export growth beats expectations on resilient global demand Read More »
Stocks of the five major steel products held by 184 Chinese steelmakers continued to rise for the second week from December 31 to January 6, as consumption among end-users remained low, due to sudden winter freeze, while domestic factories continued to maintain high productivity during the period. As of January 6, total stocks of the
China mills’ steel stocks accumulate further Read More »
China’s steel firms registered a third consecutive monthly increase in exports in November, driven by rebounding demand in overseas markets, according to the Ministry of Industry and Information Technology. The country’s steel exports rose 9 percent month on month to stand at 4.4 million tonnes in November and are expected to further increase in December,
China’s steel exports rise for third consecutive month Read More »
Starting from January 1, 2021, China will allow the import of recycling iron and steel materials that meet the national standard since they do not constitute solid wast. Strict requirements on import management of recycling iron and steel materials were stipulated, according to a notice jointly issued by the Ministry of Ecology and Environment (MEE),
China to allow steel material imports Read More »
Turkish Trade Ministry informed the EC that it has started a dumping investigation against hot-rolled coil imports from the EU region. “Turkish Trade Ministry accepted our request in this regard and started a dumping investigation at the end of last week on imports of HRC to Turkey from the EU region, as a counter measure
Turkey starts dumping investigation against HRC imports from EU Read More »
Pakistan’s Cabinet Committee of Privatisation (CCoP) has approved the privatization of Pakistan Steel Mill Corporation’s (PSMC) core operating assets following the recommendation of the Privatization Committee. The privatization which will create employment and reduce debt is expected to ease the pressure on the country’s economy as some state-owned enterprises could not contribute to the national
Pakistani government approves Pakistan Steel Mill’s privatization Read More »
Profits at China’s industrial firms grew robustly in November for a seventh month of gains, supported by strong industrial production and sales, as manufacturers continue their recovery from the COVID-19 downturn. Profits at Chinese industrial firms rose 15.5% from a year earlier to 729.32 billion yuan ($111.50 billion), easing from October’s three-year high 28.2%, data
China’s industrial profits grow robustly, seventh straight rise Read More »
China’s steel consumption is expected to reach 991 million tonnes in 2021, up 1 percent year on year, according to a report from the China Metallurgical Industry Planning and Research Institute. The slight increase in consumption will be buoyed by faster economic recovery, the report said. Demand from the construction and machinery industries will continue
China’s steel consumption likely to rise in 2021 Read More »