Shanghai steel prices rise on falling inventory

China’s Shanghai rebar recovered from a dip in the previous session after weekly inventory data showed firm demand from downstream sectors, even as a trade row with the United States intensified. Weekly stocks of steel products dipped 5,800 tonnes to just below 10 million tonnes as of Friday, data from consultancy Mysteel showed, with rebar
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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 steel futures pulled back after hitting their highest level since 2013 on Wednesday as news that the United States could slap higher tariffs on $200 billion of imported Chinese goods halted a rally that pushed prices 10 percent last month. But traders say Beijing’s sustained campaign to curb industrial production, including steel, to fight
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TOKYO : Shanghai NYK-ANJI Logistics Co. Ltd. — a joint venture operated by Nippon Yusen Kabushiki Kaisha (NYK), Yusen Logistics Co. Ltd., and ANJI Automotive Logistics Co. Ltd. (ANJI) – has begun service under a new name. NYK and Yusen Logistics will use this collaboration to begin efforts to expand their supply chain logistics, particularly
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China’s construction steel rebar prices jumped 1.7 percent on Friday to their highest since 2013, buoyed by strong demand and expectations of lower production after pollution curbs in the country’s top production centres. The most-active rebar on the Shanghai Futures Exchange gained 1.7 percent to 4,072 yuan a tonne by 0202 GMT, after earlier climbing
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Construction of two container ships with the carrying capacity of 22,000 TEUs, which would make them the largest container vessels in the world, began on Thursday, the paper.cn reported. The two are among nine 22,000 TEU vessels deal signed by French container shipping operator CMA CGM and China State Shipbuilding Corporation (CSSC) in September last
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China’s construction steel rebar prices recovered after some losses in early trading on Thursday, extending a three-day winning streak although investors’ worries about demand returned, which may offset expectations that the environmental crackdown in the world’s top steelmaker will tighten supplies. * The most-active rebar on the Shanghai Futures Exchange closed up 0.3 percent at
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China’s construction steel rebar prices gained more ground on Wednesday to trade near last session’s 10-1/2 month high on expectations of lower supplies following the country’s crackdown on pollution and higher demand. The most active rebar on the Shanghai Futures Exchange finished up 0.4 percent at 4,017 yuan ($592.80) tonne. On Tuesday, the market hit
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Shanghai construction steel rebar futures jumped to a 10-month top on Thursday, climbing more than 1 percent as China’s crackdown on pollution raised concerns over supplies. China’s top steelmaking city Tangshan has extended recent emergency pollution control measures until July 21 because of a possible major smog alert. The most-active rebar contract on the Shanghai
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Chinese steel rebar futures hit a 10-month high on Friday, and have marked their strongest week since late March, buoyed by a third straight week of inventory declines. Weekly stocks of steel products were down 128,200 tonnes to 9.97 million tonnes, as of Friday, with rebar dropping 2.1 percent to 4.57 million tonnes and hot-rolled
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