Jun 17

China May crude steel output rises 1.6% month on month to hit record

Chinas crude steel output hit a monthly record in May, rising 1.6% from April following resilient downstream demand and firm profit margins, despite a steep drop in margins towards the end of the month. The worlds top steel producer made 99.45 million tonnes of crude steel last month, data from the National Bureau of Statistics (NBS) showed on Wednesday. That compared with 97.85 million tonnes of output in April and was 6.6% higher than in May 2020. Average daily output of the metal fell
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Jun 17

Tokyo Steel to hike heavy plates prices by 4.9per cent in July

Tokyo Steel Manufacturing Co Ltd said it will raise prices for its heavy plates next month by 4.9per cent, while keeping them unchanged for other products to ensure a hike implemented this month is absorbed by the market. For this month, Japans top electric-arc furnace lifted prices for all of its steel products by up to 17.6per cent, reflecting a surge in overseas prices and a pick-up in local demand. Tokyo Steels pricing is closely watched by Asian rivals such as South Koreas Posco and
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Jun 09

Dalian iron ore extends fall as China steel demand dims

Benchmark Dalian iron ore futures fell for a third straight session on Tuesday, as a slide in steel prices in China spurred by signs of slowing demand dragged down the raw material. The most-traded iron ore for September delivery on Chinas Dalian Commodity Exchange ended daytime trading 0.7% lower at 1,149 yuan ($179.81) a tonne, after dropping as much as 4.5% to its lowest since June 1. The decline in Chinas inventory of construction steel rebar slowed sharply last week, indicating easing
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Jun 09

POSCO Slips to 6th Place in Global Steel Production

POSCO fell to sixth place in the worlds crude steel production in 2020, down one notch compared with 2019. Chinese steelmakers moved up the rankings by sharply increasing crude steel production as they quickly overcame the COVID-19 crisis. POSCOs crude steel production amounted to 40.58 million tons in 2020, down 5.9 percent compared to 2019, according to Steel in Figures 2021 published by the World Steel Association (WSA) on June 7. Hyundai Steel saw its crude steel production fall 8.1
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Jun 08

MSME engineering exporters seek PMs intervention on rising steel …

Engineering exporters in the MSME segment have sought Prime Minister Narendra Modis intervention on rising steel prices, stating that the industry needs the alloy and other inputs at affordable rates so that export competitiveness of value-added products is maintained in the global markets. In a letter to the prime minister, Ludhiana Hand Tools Association President S C Ralhan said that many of the competing countries, particularly China, provide support to manufacturing units by providing
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Jun 05

Shanghai steel futures jump, post weekly gains on raw material strength

Chinese steel rebar and hot rolled coils futures rose on Friday and posted weekly gains as raw material costs jumped, but prices were kept in check by demand concerns stemming from the upcoming rainy season. The most-traded construction rebar on the Shanghai Futures Exchange for October delivery jumped 1.4% to 5,159 yuan ($805.41) a tonne and logged the first weekly gain in four by 4.6%. Hot rolled coils, used in cars and home appliances, edged up 0.2% to 5,434 yuan a tonne at close. They
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