Dry Bulk Market: Several Contractions in Global Steel Production

World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. This is the same amount that was produced in August and is 10.3 million tons (7%) more than was reported last year for September 2017’s production. The increase has been robust, but it has been Chinese
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Shanghai construction steel futures notched a fourth straight day of gains on Thursday as stable demand and shrinking stockpiles in top consumer China saw the ferrous complex avoid heavy losses seen in global equities and base metals markets. The most traded steel rebar contract on the Shanghai Futures Exchange, for January delivery, rose 0.8 percent
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World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes (Mt) in September 2018, a 4.4% increase compared to September 2017. World crude steel production was 1,347.0 Mt in the first nine months of 2018, up by 4.7% compared to the same period in 2017. Asia
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Steel imports into Europe have risen sharply as a result of U.S. tariffs, particularly from Turkey, threatening European steelmakers as demand growth in the continent slows, European steel association Eurofer said on Wednesday. Eurofer said in its quarterly review it expected European Union apparent steel consumption, a reflection of supply to the market, would rise
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 Leading Capital Goods (CG) producers from the across the globe inked 38 MoUs with leading Indian steel companies envisaging reduction in imports of CGs meant for the steel sector worth Rs 39,400 crore by promoting manufacturing of capital goods in the country. The MoUs were signed at a Conclave in Bhubaneswar which was organised by
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Shanghai rebar steel futures inched up on Tuesday, buoyed by firm demand ahead of winter when construction usually slows in northern China due to frigid conditions and anti-pollution regulations. Stockpiles of steel products at Chinese traders fell by 370,000 tonnes to 10.3 million tonnes in the week to Oct. 19, according to data compiled by
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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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