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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.
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Australia iron ore shipments recorded 17.8 million tonnes for the week of March 26-April 1, up 31.6% or 4.3 million tonnes on week, according to latest Mysteel survey on April 4.
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China's iron ore imports in February dropped by 16.08 million tonnes or by 16% month on month to 84.27 million tonnes, according to the latest statistics released by the country's General Administration of Customs on March 8.
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The Purchasing Managers' Index (PMI) for the steel industry in North China's Hebei province, the country's core steel production base, dropped by 2.24 basis points month on month to 47.6 in February, falling below the threshold of 50 for the fifth consecutive month, according to a March 1 release by Hebei Metallurgical Industry Association.
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Daily crude steel output among China's major steel mills reverted down by 1.26% or 22,500 tonnes/day from January 11-20 to around 1.76 million t/d over January 21-31, according to the latest statistics released by the China Iron and Steel Association (CISA) on February 12.
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A coal gas leak early Monday morning at SGIS Songshan, the Shenzhen-listed arm of China Baowu Group member Guangdong Shaoguan Iron & Steel Group (Shaogang) in South China, claimed the lives of eight people working nearby and hospitalized ten more, according to a company post at noon on February 5.
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Feng Hsin Steel, Taiwan's biggest rebar producer decided to cut its rebar price by TWD 200/tonne ($6.9/t) on week together with lowering scrap procurement cost by the same degree, a company official confirmed on January 30.
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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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Mysteel's average price of silicomanganese (65% Mn and 17% Si) in North China hit a three-year high at Yuan 9,700/tonne ($1,468.9/t) EXW and including 17% VAT on December 18, mainly due to the drastic decline in supply from Northwest China's Ningxia Hui Autonomous Region, a core production base.
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Taiwan's biggest steel producer, China Steel Corp (CSC), is in the process of relining its No.3 blast furnace since October as planned, and the maintenance will last until end of February, a company official confirmed Tuesday.
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China's blast furnace capacity utilization rate may refresh new lows in the coming weeks as many more steel mills will join in the blast furnace annual maintenance on the weekend of November 25-26, Mysteel understands from the market.
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Iron ore shipments dispatched from Australian ports slid 6.37% week-on-week to 15.99 million tonnes in the week ending October 29 2017, partly due to an increased number of scheduled maintenance programmes conducted at major iron ore ports.
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Fangda Special Steel in Nanchang city, Southwest China's Jiangxi province, has put two of its long steel mills under maintenance.
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Nanjing Iron and Steel Co (Nangang) in east China's Jiangsu Province and HBIS Group Shijiazhuang Iron & Steel Co (Shigang) in north China's Hebei province will join many other Chinese steel mills into year-end maintenance starting November 15, according to Mysteel's mills survey on October 31.
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Jiangxi-based Fangda Special Steel of Science and Technology Co., Ltd, has temporarily idled its 1,080m3 blast furnace from Tuesday 24th October, according to Mysteel's bespoke survey on steel mills' maintenance on Friday 27th October 2017.
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Steel mills in Tangshan city, Hebei province, have already suspended or restricted their sintering and pelletizing shaft furnaces production, in accordance with local governmental requirements in a bid to improve poor air quality, according to Mysteel's sources on Tuesday 24th October 2017.
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Jianlong Iron & Steel Co., Ltd. in Heilongjiang province plans to perform maintenance on its bar rolling line from Wednesday 1st November 2017, according to Mysteel market resources on Wednesday 25th October 2017.
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The government of Chicheng county, located in Zhangjiakou city, Hebei province, has ordered local mining and beneficiation enterprises to temporarily suspend operations from 17th October to 24th October, after the closing of the 19th CPC National Congress, according to news released by the Zhangjiakou Municipal People's Government on 17th October 2017.
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Fengrun's substation of the Tangshan Environmental Protection Bureau ordered re-rollers that have no national pollutant discharging license or do not meet environmental protection standards to temporarily suspend production on 11th September 2017.
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Three Chinese HRC steel producers announced the implementation of scheduled maintenance programmes in September and October 2017, according to Mysteel's bespoke steel mill maintenance survey conducted on Tuesday 5th September.
