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Dalian iron ore rebounds on supply woes, easing of China COVID ...
Tue, 17 May 2022 00:00:00 GMT
Chinese iron ore futures rose on Monday, supported by supply concerns and shrinking portside inventories of the steelmaking ingredient, while the easing of some COVID-19 curbs in the worlds top steel producer also lifted trader sentiment. The most-traded September iron ore contract on Chinas Dalian Commodity Exchange DCIOcv1ended daytime trade 3.9% higher at 834.50 yuan ($122.80) a tonne, after posting its biggest weekly loss in nearly three months on Friday. On the Singapore Exchange, the

China April crude steel output up on month as COVID curbs ease
Tue, 17 May 2022 00:00:00 GMT
Chinas crude steel output picked up in April, rising 5.1% from a month earlier as the impact of environmental restrictions and COVID-19 disruptions eased, but it was still well below year-ago levels. The worlds biggest steel producer made 92.78 million tonnes of the metal last month, data from the National Bureau of Statistics (NBS) showed on Monday, up from 88.3 million tonnes in March and down 5.2% from April 2021. Average daily output in April was 3.09 million tonnes, according to

Shanghai steel rebar, HRC futures range-bound on lean downstream ...
Sat, 14 May 2022 00:00:00 GMT
Chinese steel rebar and hot-rolled coil futures traded in a tight range on Friday and posted weekly losses as COVID-19-related restrictions and heavy rains dented downstream demand. China has been trying to strengthen its economy hit by the COVID outbreak, rolling out measures to help small firms and stabilize jobs and relaxing controls in the property market. However, its strict lockdowns are expected to continue to weigh on industrial activity, resulting in weaker demand for metals, ANZ

China stares at slower steel demand from manufacturing sector ...
Mon, 09 May 2022 00:00:00 GMT
Steel demand from Chinas manufacturing sector is expected to remain in a contraction in May despite some recovery expected end-April, as shrinking overseas demand for Chinese manufactured goods compounds problems for the countrys steel sector, industry sources said. Chinas manufacturing industry purchasing manager index (PMI) contracted for the second straight month in April because of a COVID-19 resurgence in the country. Chinas new COVID-19 cases have been steadily declining since

Iron ore falls as Chinas zero-COVID policy stokes growth ...
Sat, 07 May 2022 00:00:00 GMT
Benchmark Dalian and Singapore iron ore futures tumbled more than 5% in late trade on Friday as China reinforced its tough COVID-19 response policy that has hit economic activity, prompting traders to be more cautious. The most-traded September iron ore on Chinas Dalian Commodity Exchange ended daytime trading 5.1% lower at 825 yuan ($123.47) a tonne, after a four-session advance. On the Singapore Exchange, the steelmaking ingredients most-active June contract fell 5.4% to $137.45 a tonne

Global steel output continues to slide in March
Wed, 04 May 2022 00:00:00 GMT
The first quarter of 2022 was a difficult time for global crude steel production. Output totalled 456.6 million tonnes a drop of 6.8% from the same period in 2021, according to the latest figures from the World Steel Association. The two most important factors in this decline were the resurgence of Covid-19 cases in China the worlds largest steel producer, by volume and the conflict between Russia and Ukraine, which are two major exporters of steel to Europe. Since the start of March,

Chinas steel consumption falls in Q1
Wed, 04 May 2022 00:00:00 GMT
Chinas steel consumption fell 5 percent year on year during the first quarter of the year (Q1) partly due to waning demand as the resurgence of domestic COVID-19 cases slowed down the construction of many projects. From January to March, steel consumption of the building industry dropped 7 percent from a year ago, while that of the manufacturing sector dipped 2 percent, said Qu Xiuli, vice chairperson of the China Iron and Steel Association. The global uncertainties also caused a decline i

Slowdown in global automotive sector drags on steel prices
Fri, 29 Apr 2022 00:00:00 GMT
The global semiconductor shortage continues to curtail production at automakers around the world. New and ongoing Covid-related lockdowns in China are inhibiting already strained supply chains. The flow of material into the carmaking sector is decreasing, as suppliers facilities are required to close under strict virus containment measures. This is negatively affecting both the local and export markets. The military conflict in Ukraine has reduced the supply of component parts to several

Chinas steel inventories hit 13-month high amid COVID-19 resurgence
Fri, 29 Apr 2022 00:00:00 GMT
Chinas steel inventories hit a 13-month high April 20 as the countrys steel production continued to climb steadily in the wake of weak demand amid the latest COVID-19 resurgence. Domestic markets have a mixed steel demand outlook for the coming weeks, as pandemic uncertainty looms over the industry. Some sources said demand could rebound strongly when the spread of COVID-19 is contained, tackling oversupply, while some others said a demand rebound would be modest and short-lived unless a

Stainless Steel Spot Prices Remained Stable Thanks to a Series ...
Thu, 28 Apr 2022 00:00:00 GMT
Stainless steel spot prices in the Wuxi market remained stable today thanks to a series of policies released on Tuesday night. Futures prices rebounded owing to the bullish macro policies. However, the demand remained weak. The COVID-19 outbreak stuck the Wuxi market again where logistics just returned to normal, resulting in a panic in the market and closed-loop management in some areas. It is still unclear whether the market can usher in the centralised procurement before the May Day

China iron ore, steel futures rebound as COVID-led concerns ease
Thu, 28 Apr 2022 00:00:00 GMT
Chinese iron ore and steel futures rose on Wednesday after falling for two consecutive days, as concerns stoked by the COVID-19 outbreak eased. Benchmark iron ore futures on the Dalian Commodity Exchange had plunged more than 8% this week until Tuesday, while construction-used rebar on the Shanghai Futures Exchange lost some 3% on fears over sluggish demand outlook due to recurring COVID outbreaks in China. The panic sentiment had been released and the ferrous sector is returning to

Polish government seeks EU-wide scrap monitoring
Tue, 26 Apr 2022 00:00:00 GMT
Polish economic development and technology minister Waldemar Buda has written to the European Commission to appeal for a discussion at EU level aboutthe problems facing the steel industry, namely the availability of scrap feedstock. The industry has been hit in recent years by the Covid-19 pandemic impact and rising energy costs. Steel shortages have

Number of pandemic news reports: 12
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Reports on impact of Coronavirus on the steel industry.