China Sets New Steel Production Record Ahead of Winter Curbs

China’s steelmakers pushed production rates to record levels last month, according to official data, underscoring a bullish short-term picture for the world’s biggest market even as risks of a demand slowdown rise. Output of crude steel rose 7.5 percent on year to 80.85 million metric tons, the statistics bureau said Friday. That means a daily
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Prices of rebar steel and coke dropped to two-month lows in China on Friday amid expectations that output could rise after Beijing scrapped blanket production cuts for winter. In its final anti-pollution plan for winter, China’s environment ministry said on Thursday it would allow local authorities to adopt output curbs based on regional emission levels.
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China’s steel output eased in August after hitting a record-high in July, crimped by tough production restrictions in major steelmaking regions as part of efforts to clear the country’s smoggy skies. The world’s biggest steel maker churned out 80.33 million tonnes of crude steel last month, according to data from the National Bureau of Statistics
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Chinese steel rebar futures dropped 3.5 percent in early trade morning adding to the 2 percent overnight drop on concerns that the country will abolish the mandatory winter shutdown requirement. The January contract sank the most yesterday since March to its lowest in more than six weeks, a Bloomberg report said. China is considering allowing
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China’s imports of steelmaking raw material iron ore fell slightly in August from the previous month, according to customs data on Saturday, hit by output curbs on steel mills as the government battles pollution. Arrivals totalled 89.35 million tonnes last month, down 0.7 percent from 89.96 million tonnes in July, according to data from the
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Construction steel rebar extended losses on Monday after posting its weakest weekly performance since late March, with investors expecting mills in top steelmaking cities to resume operations as summer production curbs expire. Steel mills in city of Tangshan, the biggest steelmaking hub in the country, were ordered to shut some production capacity over six weeks
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Shanghai rebar steel futures dropped nearly 1 percent on Tuesday to fall for a fifth session after last week’s push to a seven-year high, but losses were limited by China’s efforts to curb output as part of its battle against pollution. The absence of any breakthrough between the United States and China following talks last
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Prices for rebar construction steel in China extended losses into a fourth session on Monday, with the market waiting to see if output curbs due to end soon could be prolonged as the government continues to battle pollution. Benchmark Shanghai rebar prices fell 2.1 percent to 4,204 yuan ($611.58) a tonne when market closed at
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Shanghai rebar futures pared losses on Thursday to close near a six-year peak reached in the prior session on expectations further output curbs in China could keep supply tight in the world’s top producer. On top of ongoing restrictions at industrial plants in many Chinese cities, Beijing is planning to impose production curbs for a
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China’s iron ore imports rebounded in July, customs data showed on Wednesday, buoyed by record steel production and strong margins as official measures to cut pollution curb the output of cheaper products from small mills. The world’s top iron ore importer bought 89.96 million tonnes of the steel making raw material last month, according to
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