China

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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

Southern India based pellet maker - KIOCL has concluded pellet export deal yesterday (i.e 03rd Sept’19) to China . The company concluded 50,000 MT pellet consisting of Fe 64% content with less than 2% alumina. As per the sources, the deal was concluded at around USD 98/MT, FoB India, which will be equivalent to USD 112-113/MT, CFR China .
News ID: 6380    Publish Date : 2019/09/04

Following decline in global iron ore fines price, Indian low grade iron ore fines export prices have also witnessed downturn. Odisha based manufacturer is heard to have concluded low grade iron ore (Fe 57%) fines deal for 50,000 MT. The material booked is for Sep loading and the deal is concluded at around USD 55/MT, CFR China . The freight charges from east coast to China is around USD 13-15/MT. However few indications for low grade fines export price were also heard at below USD 55/MT, CFR China .
News ID: 6376    Publish Date : 2019/08/31

Eastern China ’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has announced another price cut for all grades of domestic steel scrap procurement by RMB 50/MT (USD 7) effective from 30 Aug'19. Notably, this is steel mills' 2nd price cut in a week's time. Prior to this, the company had cut prices by RMB 60 two days back. Falling billet & steel prices resulted in lowering of scrap purchase prices.
News ID: 6375    Publish Date : 2019/08/31

Global ferrous scrap market observed downtrend in almost all major markets this week. Turkey observed further fall in prices in this week's cargo bookings, while south Asian markets continued to follow the downtrend. Japan's Tokyo Steel, as well as China 's Shagang Steel, lowered their scrap purchase price twice this week while South Korea's Hyundai steel booked Japanese cargo last week after a gap of few weeks.
News ID: 6372    Publish Date : 2019/08/31

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli was settled at RMB 3,330/MT, up RMB 20; while the same in Qian‘an area was settled at RMB 3,330/MT, up RMB 10. In the morning session today, Changli area saw cumulative gain of RMB 20 to RMB 3,350/MT. Transactions on billet were smooth after price uptick while price of finished steel mainly trended up.
News ID: 6362    Publish Date : 2019/09/03

Indian pellet export market has gained some movement after observing a week's silence. According to market sources reported to SteelMint, an east India based pellet maker has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al).
News ID: 6356    Publish Date : 2019/09/02

The price of chrome ore from both overseas and the Chinese market remained stable. Affected by the Indonesian government's ban on the export of nickel ore, the LME nickel has surged, which has pushed up the price of stainless steel.
News ID: 6354    Publish Date : 2019/09/02

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