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China to implement standard on recycling iron, steel

China will implement its national standard on recycling iron and steel materials on Jan. 1 next year, said the China Iron and Steel Industry Association (CISA) Thursday. The standard specifies the definition, classification, technical requirements, inspection methods and acceptance rules for recycling iron and steel materials, said Zhang Longqiang, head of the China Metallurgical Information […]

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China’s Jan-Nov steel output grows steadily at 5.5%

China’s crude steel output grew steadily up to November, gaining 5.5% on year to 961 million tonnes over January-November, or the same growth as that for the first ten months, according to the latest release from the country’s National Bureau of Statistics (NBS) on December 15. For November alone, the country’s crude steel output came

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Giant Japanese steel mill signals pandemic recovery taking root

A surge in automotive demand is making it attractive for Nippon Steel Corp. to restart facilities it shut earlier this year even as the world’s third-biggest steelmaker cautioned that longer-term domestic demand remains anemic and its plan to cut output by shutting aging mills will remain on track. In the last two weeks, Nippon Steel

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China’s steel imports report steep Jan.-Oct. rise

China’s steel imports registered rapid growth in the first 10 months of the year, while the decline in exports narrowed, according to the Ministry of Industry and Information Technology (MIIT). The country’s steel imports surged 73.9 percent year on year to over 17 million tonnes in the Jan.-Oct. period. The growth was up 1.7 percentage

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Iron ore exceeds $135/t on futures

Iron ore hit a new multi-year high in china after its futures jumped to a record level. Market bullishness was supported by strong steel demand, which ensures high consumption of the raw material. Australian iron ore fines 62% Fe soared by $4/t to $136/t CFR, the highest mark since 2013, when the commodity was testing

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Turkey’s scrap imports up 12 percent in October from September

According to data provided by the Turkish Steel Producers Association (TCUD), the surge in scrap imports from Turkey continued in October. The import volume for the month of October alone amounted to 1.927 million tonnes, up about 12% per month, thanks to Turkey’s Finished steel sales in the Far Eastern markets and from Latin America.

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Indian billet export prices climb to two-year high

Indian billet export prices have soared in recent deals, going up by $25-30/t week-on-week (w-o-w) in a recent export tender hosted by a state-owned steel mill. The tender was for 30,000 t of billets of 4SP grade for the end-Dec’20 shipment. According to sources, the company managed to achieve a price level of $475-480/t, FoB

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Turkey’s steel export value down 19.2 % in January – October

According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) , in October this year Turkey’s foreign trade deficit increased by 34.4 % to $2.37 billion compared to October 2019. In the January-October period of the current year, Turkey’s foreign trade deficit rose by 76.2 % year on year to $40.27

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China’s industrial profits grow at quickest monthly pace since early 2017

Profits at China’s industrial firms grew in October for a sixth consecutive month and at their quickest pace since early 2017, pointing to a steady recovery in the manufacturing sector after it was hard hit by the COVID-19 pandemic. Profits at Chinese industrial firms surged 28.2% year-on-year in October to 642.91 billion yuan ($97.79 billion),

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India’s steel exports down by 35% in October m-o-m

India’s steel exports in October were down 35% month-on-month (m-o-m), on a provisional basis, to 1.02 million tonnes (mn t) compared to 1.58 mn t in September. In fact, provisional October export volumes were in line with predictions made by one trader, at around 1 mn t. Billets, which comprised the larger share in both

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Japanese steel exports down 13% in October

Japanese steel exports decreased to all main destinations last month, except for China, and are set to decline further. In October, total steel export decreased 13% year-on-year to 2.47 million t, according to the provisional data from the Ministry of Finance. Japan’s exports have been demonstrating on-year decline for the sixth consecutive month, as local

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China scrap prices seen strengthening by year end

Li Shubin, vice chairman of the China Association of Metal scrap Utilization (CAMU) at the 2020 National Steel Scrap Conference in Haikou in South China’s Hainan province predicted that steel scrap prices across China are likely to keep strengthening in the remaining few weeks of 2020. “Earlier this year, the lower scrap production amid the

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G20 determined to use all tools to contain pandemic

G20 nations are determined to continue doing everything possible to contain the COVID-19 pandemic, warning in a draft communique that the global economic recovery remains “uneven, highly uncertain, and subject to elevated downside risks”. Bringing the pandemic under control is the key to supporting a global economic recovery, the G20 leaders said in the draft,

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China’s outputs and prices of rebar and wire rod up in October

In October this year, China’s rebar production totaled 23.781 million mt, up 6.5 percent year on year, 3.4 percentage points slower than the increase recorded in September, according to China’s National Bureau of Statistics (NBS). Wire rod production amounted to 15.16 million mt in October, up 14.4 percent year on year, 2.9 percentage points faster

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China’s crude steel output dip in October

Crude steel output slightly dropped in China last month, but remained at a very high level. More production is expected in November, which may impact market prices in the year end. Chinese mills smelted 92.2 million t of crude steel in October, which was 12.7% higher than a year ago, and down by 0.4% (360,000

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Asia-Pacific countries sign one of the largest free trade deals in history

Leaders from 15 countries have signed the Regional Comprehensive Economic Partnership, a pan-Asian trade agreement, after a decade of negotiations. “We signed [RCEP] today, after a tough slog of eight years”, said Lee Hsien Loong, Singapore’s prime minister. “This is a major step forward for our region. At a time when multilateralism is losing ground,

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China’s industrial output grew 6.9% annually during the past month

The industrial output of China during the month of October achieved a growth rate of 6.9 percent annually, almost unchanged from the growth rate recorded last September, according to what was published by “German”. The Chinese National Bureau of Statistics data released today indicated that investment in fixed assets increased by 1.8 percent annually, during

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China’s October steel exports accelerate

China’s steel exports in October rose by 5.2pc from September to 4.04mn t as Chinese mills shifted supplies to overseas markets with falling domestic prices. But the October exports fell by 15.5pc from a year earlier, according to preliminary customs data. January-October exports fell by 19.3pc from a year earlier to 44.43mn t. Most October

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Hyundai Challenges U.S. Duty Rate on Steel

Hyundai Steel Co. is challenging the U.S. duty rate on some entries of its hot-rolled steel from South Korea, arguing to the U.S. Court of International Trade that the Commerce Department wrongly treated the company’s port usage rights for a Korean harbor as a government subsidy. The U.S. maintains countervailing duties on Koean hot-rolled steel flat

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CISA: China’s steel output to exceed 1 billion t in 2020

Qu Xiuli, secretary general of the China Iron & Steel Association (CISA), predicted China’s crude steel output to exceed 1 billion tonnes or grow 3-5% on year for 2020 on the backup of strong demand when she spoke at the press conference on October 26 sharing the country’s third-quarter steel market performance. As for the

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Hyundai Steel reports net loss for Q3

South Korean steelmaker Hyundai Steel (Hyundai) has announced its financial results for the third quarter this year. Accordingly, Hyundai Steel has posted a net loss of KRW 45 billion ($39.93 million) for the third quarter, compared to a net loss of KRW 13 billion in the second quarter and a net loss of KRW 66

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China’s September iron ore imports rise to near record

China’s iron ore imports rose by 8.2pc to 108.55mn t in September from August, the second-highest on record, preliminary customs data showed today. September imports rose by 9.2pc from a year earlier and were shy of July’s record 112.65 mn t. January-September iron ore imports increased by 10.8pc to 868.46mn t from the same period

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Emirates Steel wins Safety Culture and Leadership Award 2020 from World Steel Association

Emirates Steel, a leading integrated steel plant in the UAE, has won the Safety Culture and Leadership Award 2020 by the World Steel Association (worldsteel) in recognition of its organisation-wide best-in-class health and safety protocols. Acknowledging industry excellence in safety and health since 2008, the award aims to highlight steel companies with superiority in occupational

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China says its economy grew 4.9% in the third quarter

China’s economy recovered further from the coronavirus in the third quarter, according to data released Monday by the National Bureau of Statistics. The world’s second-largest economy reported third-quarter GDP growth on the low end of expectations, up 4.9% from a year ago. That brings growth for the first three quarters of the year to 0.7%

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Danieli to modernize EAF for S. Korea’s SeAH Besteel

Italian plantmaker Danieli has announced that it signed an agreement with SeAH Besteel, the largest special steel producer in South Korea, to increase the process efficiency of the company’s electric arc furnace No. 3 at its Gunsan meltshop. With Danieli’s Q-MELT technological package, the company will avoid over-oxidation, thus maximizing process repeatability and steel quality.

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EU to impose definitive AD duties on stainless HR from 3 countries

The European Commission (EC) has announced that it will impose definitive antidumping duties (AD) on stainless steel hot rolled imports from Taiwan, China, and Indonesia. The antidumping duty rate on such imports will range between 9.2 percent and 19 percent for China and between 4.1 percent and 7.5 percent for Taiwan, while it will stand

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China sees record daily crude steel output in August

China logged a record daily output of crude steel in August as the country’s economic recovery consolidates, industry data showed. The daily output of crude steel came in at 3.06 million tonnes in August, hitting its highest-ever daily level, according to the China Iron and Steel Association (CISA), citing data from the National Bureau of

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OECD : Steel overcapacity to resume growth in 2020

The gap between global production and capacity is expected to reach 700 million tonnes in 2020, increasing for the first time since 2016. the OECD steel committee said during its latest session held virtually. The association noted the latest available data from the OECD show that global steelmaking capacity could increase to 2,455.8 m t/year.

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China’s industrial profits grow for fourth straight month

Profits at China’s industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, the statistics bureau said on Sunday. China’s recovery has been gaining momentum as pent-up demand, government stimulus and surprisingly resilient exports propel a rebound. Industrial firm profits grew 19.1% year-on-year

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US halves anti-dumping tariffs on S. Korean oil pipelines

The United States has nearly halved its anti-dumping tariffs on oil pipeline products from South Korean steelmakers, industry sources said Tuesday. The US Department of Commerce has decided to levy a tariff of 4.23 percent to 9.24 percent on South Korean oil pipelines, far lower than the 2018 ruling of up to 18.77 percent. The

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