-
Chinese domestic prices of rebar should continue tracking upward over the short term as market players envisage the robust demand for the construction steel product continuing to linger, market sources shared on April 24. But they warned that prices were unlikely to refresh last December's 74-month high anytime soon.
-
Bengang Steel Plates Company, the Shenzhen-listed arm of China's Benxi iron & Steel Group (Bengang Group), plans to produce 9.2 million tonnes of crude steel in 2018, or up 3.4% on year, according to the company's 2017 annual report released on April 20.
-
China's steel industry has managed to return to the track of concentration since 2017 thanks to Beijing's efforts in excess steel capacity cuts and environmental protection, the China Iron & Steel Association notes.
-
The most-traded September Iron Ore contract on the Dalian Commodity Exchange (DCE) closed the day trading on April 19 at Yuan 475/tonne ($76/t), up 6.5% from the previous day's settlement price on the boost of China's sound economic development in the first quarter, market sources shared.
-
As the euro-area has recently shown some weaker data, the market consensus has downgraded the 2018 GDP growth for the bloc from 2.5% YoY to 2.3% YoY after five consecutive increases, reflecting weaker consumer spending and factory activity.
-
Tertiary industry and consumption have been with growing significance to China's economic development, with both contributing to over 60% of the country's 6.8% gross domestic product growth in the first quarter of 2018, according to an explanatory note by China's National Bureau of Statistics (NBS) on April 19.
-
China's overseas investment grew for the fifth consecutive month in March, leading to a 24.1% year-on-year growth to $25.5 billion for the first quarter of this year, according to the latest statistics released by China's Ministry of Commerce.
-
The surprise announcement late last month by Chinese Premier Li Keqiang of a one percentage point reduction in the country's value-added tax (VAT) effective May 1 is being awaited by the country's steel sector with positive anticipation, Mysteel has learned.
-
Global steel demand is expected to reach 1.62 billion tonnes in 2018, an increase of 1.8% on year, according to a new forecast issued by the World Steel Association (WSA) in its Short Range Outlook tabled on April 17. The WSA also estimated that world steel demand next year would hit 1.63 billion tonnes, or up 0.7% on year.
-
China's consumption and domestic production of gold both continued to decline in this year's first quarter, according to new data released by China's Gold Association (CGA) on April 16.
-
China's fixed asset investment registered Yuan 10 trillion ($1.6 trillion) for the first three months of this year, according to the latest data from National Bureau of Statistics published on April 17.
-
China's gross domestic product (GDP) for the first quarter climbed by 6.8% to Yuan 19.9 trillion ($3.2 trillion), according to the National Bureau of Statistics (NBS) on April 17.
-
China's domestic steel prices for 2018 are unlikely to repeat the gradual and persistent uptrend pattern as seen in 2017, and the steel prices' pullback at the end of the first quarter has been unavoidable to some extent, Chen Derong, general manager of China's Baowu Steel Group, commented when speaking at the Boao Forum for Asia on April 10 in South China's Hainan province.
-
Sales of excavators in China in March leapt by 78.9% on year to 38,261 units, according to the latest statistics released by China Construction Machinery Association (CCMA) on April 8. Last month's total was the highest for any March since March 2011, the data show. CCMA's survey canvasses the performance of China's twenty-five leading excavator makers.
-
China's Ministry of Finance announced on Monday that China will suspend tariff reductions and impose duties of up to 25% on 128 goods imported from the US to balance the losses to its economy Beijing claims will result from Washington's tariff hike on steel and aluminum.
-
China' s Purchasing Managers' Index (PMI) for the domestic manufacturing industry rose 1.2 basis points month on month to 51.5 in March, indicating that the country's manufacturing sector has been steadily improving, according to the latest release by China's National Bureau of Statistics (NBS) on March 31.
-
Japan's ferrous scrap price setter, Tokyo Steel Manufacturing, slashed buying prices of all grades of scrap delivered to all its works by Yen 1,000/tonne ($9.4/t) from March 31 deliveries, the mini-mill announced in a post on its website.
-
China's steel industry will rise to a "new stage" this year as steelmakers continue upgrading facilities and concentrating on producing higher quality steel products, according to a forecast released on March 29 by the China Chamber of Commerce for Metallurgical Enterprises (CCME).
-
China's steel producers have broadly welcomed Wednesday's announcement on the official government website of a one percentage point cut in the country's value added tax (VAT) to 16%.
-
South Korea's steelmakers will be able to export up to 2.68 million tonnes of steel to the US per year free from the recent controversial 25% import tariff, under a deal Korea's trade minister Kim Hyun-chong thrashed out in Washington last week.
