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Shanghai stainless steel gains on high demand, raw material prices
Thu, 14 Jan 2021 00:00:00 GMT
Stainless steel futures on the Shanghai Futures Exchange inched higher on Wednesday, fuelled by a pick-up in raw material prices and downstream consumption. Due to the recent shutdown of some capacity in Inner Mongolia ferrochrome supplies dropped, GF Futures wrote in a note, explaining the price surge in the raw material used to manufacture stainless steel. Downstream demand also recovered on increasing export orders, GF Futures said. Nickel prices on the Shanghai bourse also jumped,

Vanishing Chinese rebar margins could put brake on iron ore price ...
Tue, 12 Jan 2021 00:00:00 GMT
Chinese domestic rebar margins have almost disappeared since the start of January, affected by soaring raw materials prices and slowing construction activity. With China experiencing a particularly cold winter, and migrant workers starting to drift back to their home towns ahead of the Lunar New Year holiday rush, rebar prices look set to come under more pressure. This could see some resistance to increasing iron ore prices as long steel producers will be unable to pass on the higher costs

Steel/Metal Industry: Baosteel to Raise Flat Product Prices in ...
Sat, 09 Jan 2021 00:00:00 GMT
Baosteel has raised its February domestic distribution prices for HR, CR, and plate products by RMB350/ton, RMB400/ton, and RMB300/ton, respectively. Driving the price hikes are iron ore price expansion and solid demand. Product price hikes in reflection of rising costs should help domestic steel players to enjoy profitability improvement. Baosteel raises February distribution prices due to surge in iron ore prices Chinas Baosteel (600019.SH) has decided to raise its February domestic

4 Stocks to Grab as Iron Ore Price Rally Continues in 2021
Thu, 07 Jan 2021 13:50:01 GMT
With iron ore prices on an uptrend this year aided by demand from China, we suggest adding stocks like BHP Group (BHP), Rio Tinto (RIO), Vale (VALE) and Fortescue Metals (FSUGY) to your

Iron ore price leaps into 2021
Wed, 06 Jan 2021 00:00:00 GMT
Iron ore prices started the new year with a bang on Monday as unprecedented demand from China counteracted government calls for sharp cuts in the countrys steel output. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $165.29 a tonne on Monday, up 3% on the day. Sign Up for the Iron Ore Digest In December, the steelmaking raw material hit its highest level since September 2011 after gaining nearly 80% during the year.

China to build overseas iron ore mines to ensure supply, boost ...
Mon, 04 Jan 2021 00:00:00 GMT
China aims to build one or two globally significant overseas iron ore mines by 2025 to boost supply of the steelmaking ingredient and strengthen its pricing power, the industry ministry said on Thursday. Equity output from stakes held by Chinese firms in overseas mines should account for more than 20% of iron ore imports by that year, according to a five-year plan for the steel sector published by the Ministry of Industry and Information Technology (MIIT). The plan, which is open for public

China to further cut crude steel output for carbon neutrality ...
Thu, 31 Dec 2020 00:00:00 GMT
China will resolutely cut the output of crude steel and ensure it falls year on year in 2021, a senior official said on Tuesday. Efforts will be made to promote low-carbon industrial development and green manufacturing next year, said Minister of Industry and Information Technology Xiao Yaqing at a work conference. China previously announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. In recent years, China has taken solid steps to cut

China must reduce steel output in 2021, says industry minister
Thu, 31 Dec 2020 00:00:00 GMT
Chinas sprawling steel industry must ensure it produces less crude steel in 2021 compared with this years record level, the countrys industry minister was reported as saying by the official Xinhua news agency on Tuesday. The worlds biggest steel producer is set to churn out more than 1 billion tonnes of crude steel for the first time in 2020 and a government consultancy recently estimated output would rise a further 1.4% next year amid rapid economic growth and increased fixed-asset

World Steel Association: Accelerating decarbonization
Mon, 28 Dec 2020 00:00:00 GMT
Commitments to decarbonise the global economy are gaining momentum. China has pledged to hit peak emissions by 2030 and to reach net zero by 2060. The EU, Japan and South Korea are all aiming for net zero by 2050. The Biden administration in the USA is rejoining the Paris Agreement. In this context, and as one of the hard to abate industrial sectors, the steel industry recognises that we need to act. Our industry is a truly global one, with steel producers operating in different

Revisiting iron ore price mechanism holds risks and opportunities ...
Mon, 28 Dec 2020 00:00:00 GMT
An almost doubling of iron ore prices over the past six months led Chinese steelmakers last week to call for a change in the current pricing mechanism. Miners have reportedly indicated an openness to work towards improvements. The industry should grasp this opportunity to consider enhancements to the way iron ore prices are formed and assessed, but should also be wary of the possibility of inadvertently taking steps backwards, at a cost to the whole market. The mechanism functions Iron ore

China: Increase Observed In Steel Use In 2021
Mon, 28 Dec 2020 00:00:00 GMT
A publication from the China Metallurgical Industry Planning and Research Institute Chinas steel use is projected to hit 991 million tonnes next year, a rise by 1 percent annually. According to the publication, the small rise in use will be supported by quicker economic revival. Demand from the building and machinery sectors will carry on increasing in 2021, with rise in the two domains increasing to 580 million tonnes and 160 million tonnes, each. As the worldwide economy picks up from the

China iron ore futures turn higher, coke rises in resilient market
Sun, 27 Dec 2020 00:00:00 GMT
Chinas iron ore futures prices recovered from early losses on Friday to end higher while coking coal and coke both closed up more than 3%, buoyed by resilient demand at steel mills despite signs of easier momentum for key construction products. Steel product inventories in China, both held by traders and by mills, dropped for a 10th consecutive week and were down 3% from a week earlier at 13.07 million tonnes as of Dec. 24, data from the consultancy Mysteel showed. Capacity utilisation

Number of Asia Pacific steel news reports: 12
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