Shanghai Steel Prices Climb as Hebei Cities Curb Output On Smog

Shanghai rebar steel futures jumped more than 1 percent on Monday after 10 cities in China’s top steel-producing Hebei province issued second-level smog alerts, prompting industrial plants to cut output. The gains in steel prices also came alongside the rally in Chinese stocks as Beijing pledged support for equity markets and as China prepares to
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Chinese steel prices fell on Friday after data showed daily output in the world’s top steel producer climbed to a record in September and China’s economy slowed to the weakest pace since 2009. The increased steel production came as mills chased strong prices and ahead of China-led output curbs during winter as the country aims
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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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The World Steel Association (worldsteel) released its October 2018 Short Range Outlook (SRO). worldsteel projects global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9%* (please see *note below) over 2017. In 2019, it is forecast that global steel demand will grow by 1.4% to reach 1,681.2 Mt. Commenting on the outlook,
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China’s aluminum exports fell slightly in September from the previous month as a narrowing price arbitrage to international markets reduced the incentive to ship metal overseas, while steel shipments edged higher. China’s unwrought aluminum and aluminum product exports were 507,000 tonnes last month, the General Administration of Customs said on Friday, up 37 percent from
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Union Minister of Steel, Chaudhary Birender Singh, reached Bhilai October 10  morning and directly reached the hospital to enquire about the treatment being given and condition of those injured in yesterday’s fire incident. The Minister also interacted with their family members.  The Minister announced compensation of Rs. 30 lakh each to the families of those
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China’s construction steel futures recovered from the steep declines seen across international commodity and equity markets to close higher on Thursday, as possible Chinese production curbs ahead of winter remained in focus. Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months. Shanghai benchmark construction steel futures initially fared
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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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Prime scrap moved up $20/lt and obsolete scrap moved up $10/lt in early trading around Detroit on Wednesday, while a bid/offer gap between steel mills and their ferrous scrap suppliers kept things at a standstill in most other regions. Aggressive demand for prime scrap by one major mill group stoked supplier optimism. The major mill
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Japan’s steel exports edged down 0.9% year on year to 3.15 million mt in August, but were up 3.9% from July, Japan Iron & Steel Federation data released Friday showed. A JISF official said exports were largely stable on a year-on-year basis as steel producers have been kept busy meeting domestic supply in recent months
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