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China's Ministry of Ecology and Environment is requesting Chinese major ports to transport cargoes including coke, coking coal, iron ore and steel via rail instead of by truck no later than 2019 as part of the efforts for higher efficiency and lower pollution, Mysteel understands from market sources on May 22.
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Steel mills in East China's Jiangsu province are bracing themselves for operations' disruption from the one-month environmental protection inspection the provincial authority to proceed in eight cities along the Yangtze River since April 24, Mysteel understands from the market sources.
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China's Ministry of Industry and Information Technology (MIIT) has fine-tuned its steel capacity swap guidelines in the latest version.
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China's iron ore price is expected to average $60-65/dmt CFR China for the 62% grade fines for 2018, as the country's steel consumption is expected to slow in the pace of growth while global iron ore market will remain oversupply, according to Chinese steel market analysts.
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China's coking coal imports reverted down in October by 12.6% month on month to 5.27 million tonnes, according to the latest official statistics released by the General Administration of Customs.
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On 16 June central China's Hunan province published its mislabelled steel capacity elimination details, showing it has removed 3.15 million tonnes/year of steel capacity from 82 induction furnaces. Official data from the National Bureau of Statistics shows Hunan produced 7.67million tonnes of crude steel over January to May, down by -3.65% year-on-year, Kallanish notes.
