Shanghai Steel Retreats from 5-week top as Tangshan Mills Raise Output

Chinese rebar steel futures dropped more than 1 percent to pull back from five-week highs on Thursday as steel producers in China’s top steel-making city of Tangshan boost output despite the start of its winter pollution restrictions two weeks ago. Local officials in Tangshan have yet to issue precise orders on output curbs, prompting mills
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Chinese rebar steel futures pulled back after rising to their strongest in almost four weeks on Tuesday, though the marginal losses suggest the outlook for prices remains firm amid output restrictions as Beijing keeps up its anti-smog fight. Despite forecasts for flat Chinese steel demand next year, analysts say steel prices in the world’s top
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Prices of steel rebar rose on Friday, posting the best week since mid-August as tougher production restrictions in the country’s top steelmaking hub raised concerns about short supplies. Tangshan city on Thursday ordered mills to cut output by half from Oct. 11-18 due to forecasts of adverse weather, according to a city government document. The
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Chinese rebar steel prices edged lower on Monday, hit by concerns of a rise in inventories as trading resumed after a week-long national holiday. Benchmark construction steel rebar prices on the Shanghai Commodity Exchange dipped 0.6 percent to 3,917 yuan ($568.01) a tonne as of 0215 GMT. However, hot-rolled coil contract rose 0.4 percent to
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Chinese steel futures dropped for a fourth straight session on Wednesday, hitting a nearly two-week low, as demand in the world’s top consumer faltered ahead of a week-long holiday. China’s markets will be shut on Oct. 1-5 for the National Day holiday. “The market is slowing down a bit ahead of the holiday,” said a
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Prices for Chinese construction steel rebar rose on Wednesday and were on track for their best one-day performance in over a week, buoyed as the government said it would boost spending on infrastructure. The National Development and Reform Commission (NDRC), the top state planner in the country, said in a news briefing on Tuesday that
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Shanghai rebar steel futures edged higher on Monday after weekend data showed that China’s home prices accelerated in August at the quickest pace in almost two years, boding well for steel demand in the world’s top consumer. Signs of more and stricter production curbs in China this winter also helped buoy steel prices, but investors
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China is building the world’s largest container ships, each of which will be able to carry more than 23,000 standard containers, which together can hold, for example, more than 1 billion units of the Apple iPhone X. The construction of the first two megaships started in late July. They’re being built by Jiangnan Shipyard Group
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Chinese steel futures climbed to a two-week high on Monday, gaining for the third straight day amid ongoing restrictions on production to control pollution led by top steelmaking city Tangshan. Tangshan said last week it will extend summer output cuts across the steel, coke and power sectors into September. “The market remained focused on the
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BEIJING: Year 2018 ushers in the 14th session of World Shipping Summit since its inauguration in 2004. In spite of 14 years of ups and downs witnessed by global shipping market, our relentless efforts of making the World Shipping Summit a high profile, professional and of global interest event has not for a moment slackened.
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