Chinese Crude Steel Output Shrinks by 3% in Jul’19
As per data released by National Bureau of Statistics (NBS) China’s crude steel output reduces by 3% on monthly basis to 85.22 MnT in Jul’19 in comparison with 87.53 MnT in Jun’19.
Announcement of production cuts to tackle over-capacity by Chinese govt has resulted to decline in nation’s monthly crude steel output in Jul’19.
Meanwhile as per market reports demand in China’s domestic market has remained seasonally weak over subdued demand from major steel consuming sectors. Thus increase in stocks with traders led to HRC prices remain under pressure both in domestic and overseas market.
However nation’s churned out crude steel volume in Jul’19 higher by 5% as compared with 81.24 MnT same time a year ago.
Meanwhile in Jan-Jul’19 nation’s crude steel output stood at 576.78 MnT up by 8% which was 532.03 MnT in similiar time frame of previous year.
Further the Chinese provincial government has announced tighten production curbs in the month of August.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
