China

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The Chinese government plans to overhaul the categorisation of high-purity scrap metal as raw material as part of its strategy to accelerate the development of its domestic recycling industry.
News ID: 6621    Publish Date : 2019/10/11

Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies.
News ID: 6601    Publish Date : 2019/10/09

This week, global billet market reported trade active as China resumed billet imports due to on production cuts in the country. However, Turkey's imported scrap remained heftier market sentiments. Turkish imported scrap prices have fallen again after a couple of fresh deep-sea cargo bookings were signed at prices lower by a further USD 5-6/MT, SteelMint learned from market participants. After remaining firm for over a week, the recent decline has ensured that prices have now plunged by over USD 70/MT in the last 2 months.
News ID: 6600    Publish Date : 2019/09/28

Global ferrous scrap market witnessed a downward trend for yet another weeks in most major markets. Turkey witnessed further prices drop on a few deep-sea cargo bookings at lower prices. All South Asian markets witnessed fall in offers, with India seeing improvement in Buying activity. Hyundai Steel again cut its bids for procurement of Japanese imported scrap, while Japan's Tokyo Steel and China 's Shagang Steel kept their Scrap purchase price unchanged this week.
News ID: 6596    Publish Date : 2019/09/28

Numerous entrepreneurs and experts exchanged views in Nuremberg last week at the 2nd Silk Road Congress and discussed new opportunities.
News ID: 6578    Publish Date : 2019/10/08

Oil prices were up on Monday, buoyed by hopes of progress in US- China trade talks and supported by challenges to supply facing major exporters.
News ID: 6565    Publish Date : 2019/10/07

Nio Inc. announced last week, it would open smaller showrooms for better sales network, cut jobs and spin off some business units after reporting a second-quarter loss of US$478.6 million, 25 per cent more than its first-quarter loss. The move was decided to control massive cash crunch amid slowing electric vehicle sales in China after the subsidy cut.
News ID: 6545    Publish Date : 2019/09/28

General Motors launched its two-seat full electric vehicle for customers across China last month under SAIC-GM-Wuling Automobile, General Motors’ light-vehicle partnership with SAIC Motor Corp. The micro EV, the Baojun-badged E200, offers two variants at prices of RMB 54,800 ($7,697) and RMB 64,800 after government subsidies.
News ID: 6543    Publish Date : 2019/10/04

Global ferrous scrap market again witnessed a downward trend in all markets. Turkey observed a couple of deep-sea cargo bookings which pulled down the prices further. South Asian markets witnessed slight fall in offers amid slow trades. Japan's Tokyo Steel, as well as China 's Shagang Steel, lowered their domestic scrap purchase price this week while Hyundai Steel also cut its bids for procurement of Japanese imported scrap.
News ID: 6477    Publish Date : 2019/09/21

Eastern China ’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has slashed its price for procurement all grades of domestic steel scrap by RMB 40/MT (USD 6) effective from today 20th September’19.
News ID: 6474    Publish Date : 2019/09/20

End users based in Vietnam continue eyeing for lower HRC import offers from Russia and India compared to China over competitive pricing, shared by market participants based in Vietnam.
News ID: 6473    Publish Date : 2019/09/20

SteelMint has heard from its market sources that after falling continuously over past few months, the electrodes prices in China have stabilized this week. However, the market continues to remain weak with tepid downstream demand and high inventories with the producers.
News ID: 6471    Publish Date : 2019/09/20

Vietnam’s domestic steel producer - Formosa Ha Tinh has announced a steep cut of around USD 51/MT in its offers for Nov shipments.
News ID: 6469    Publish Date : 2019/09/13

China ’s major steelmaker Baosteel is planning to invest in a new production line for the non-oriented silicon steel manufacturing base in its Baoshan province over increased demand for higher-end products used in energy vehicles.
News ID: 6463    Publish Date : 2019/09/12

KIOCL - a southern India based pellet maker has recently concluded 50,000 MT pellet export deal to China , SteelMint learned from market sources. The deal has been concluded for pellet consisting of Fe 64% and 2% alumina at around USD 98/MT, FoB India for immediate September loading.
News ID: 6462    Publish Date : 2019/09/12

Eastern China ’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has announced a price hike for all grades of domestic steel scrap procurement by RMB 80/MT (USD 11 ) effective from today 10th September’19.
News ID: 6447    Publish Date : 2019/09/10

Chinese spot iron ore prices (Fe 62% fines) increased today (i.e 10th Aug’19) to USD 93.2/MT, CFR China . The prices up as against USD 89/MT, CFR China a week ago. Spot Index increased by USD 1.25/MT on daily basis as against yesterday prices at USD 91.95/MT.
News ID: 6441    Publish Date : 2019/09/10

According to General Administration of Customs, China - the world's largest iron ore consumer and importer, recorded 4% rise in iron ore imports to 94.85 MnT in Aug'19 against July’19 imports at 91.02 MnT. The imports have hit 19- months high as the level was last witnessed in Jan’18 at 100.32 MnT.
News ID: 6439    Publish Date : 2019/09/09

As per the latest data released by Chinese customs, the nation’s finished steel exports stood at 5.006 MnT in Aug’19, lower by 10% in comparison to 5.57 MnT in Jul’19.
News ID: 6438    Publish Date : 2019/09/09

With no major change in China ’s downstream steel demand, the overall situation in country’s GE market continues to remain sluggish and the prices prevails to be weak.
News ID: 6385    Publish Date : 2019/09/05

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