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Chinese steel demand in 2019 could weaken slightly from that forecast for this year, and the high profitability Chinese steel mills have enjoyed for much of this year seems unlikely to be sustained into next year, according to market pundits canvassed by Mysteel Thursday.
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China will continue efforts to promote infrastructure development and will maintain effective and steady investment in this area, according to an announcement published by China’s State Council on October 31.
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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China is committed to improving its investment environment to welcome all foreign investors including those from the US, China's Ministry of Commerce (MoC) said at a routine press conference in Beijing on July 12.
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Taigang Stainless Steel Company, China's top stainless producer and headquartered in Taiyuan city, North China's Shanxi province, has decided to lift its list prices for 300-series stainless products by Yuan 500/tonne ($78/t) while slashing prices of its 400-series products by Yuan 300/t for June sales, according to the mill's latest pricing policy officially disclosed on Tuesday.
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Jiangsu Wujin Stainless Steel Pipe Group Company, a maker of welded and seamless stainless steel pipes and tubes headquartered in Changzhou city, East China's Jiangsu province, plans to invest Yuan 216.5 million ($34.3 million) to build a new stainless seamless tube mill for forming long, precision pipes and tubes for use in applications such as heat exchangers mainly for supply to the petrochemical and nuclear industries, according to a company announcement released on March 15.
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Special steel production in Japan over January-March is forecasted to rise by a tiny 0.4% from October-December to 4.97 million tonnes, according to the country's Ministry of Economy, Trade and Industry (METI). However, the current quarter's output will be 0.6% lower than a year ago, Mysteel notes.
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China's excavator sales continued to stay robust in the first month of 2018, with the volume having spiked 135% on year to 10,687 units in January, according to the latest statistics released by China Construction Machinery Association (CCMA) on February 9.
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China's promise to continue with its opening-up policy and its efforts in upholding globalization in the years to come will be good news to China's steel industry that is striving to evolve while removing excess steel capacities, Mysteel understands from the market.
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Guangxi Chengde Group, China's third largest stainless producer in Beihai, South China's Guangxi Zhuang Autonomous Region, is considering of halving its 300-series stainless output starting February on noting the weak market conditions, a company official confirmed on January 25.
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Shanghai-based Baoshan Iron & Steel (Baoshan Steel), the listed arm of China Baowu Steel Group, has sold over 12 million tonnes of auto sheet so far in 2017, or a new high for the company, a company official confirmed on December 27.
