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Japans July crude steel output rises for the first time in 19 ...
Wed, 23 Aug 2023 00:00:00 GMT
Japans crude steel output rose 0.9% in July from a year earlier, increasing for the first time in 19 months as auto manufacturing picked up, the Japan Iron and Steel Federation said on Tuesday. Production in the worlds third-biggest steelmaking country has been on a downtrend since last year as a global chip shortage and COVID-19 lockdowns in China repeatedly delayed a recovery in production by Japanese automakers. Crude steel output, which is not seasonally-adjusted, rose to 7.39 millio

Higher costs impact the Spanish steel industry: Unesid
Fri, 30 Jun 2023 00:00:00 GMT
The Spanish steel sector witnessed a decline in production in 2022 to practically the same level as in 2020, when Covid-19 paralysed industrial activity, according to data issued by the local steelmakers association Unesid during its 55th annual meeting. Energy prices have caused a deterioration, especially impacting exports, which fell even more than domestic

Iron ore records third weekly gain on China stimulus hopes, low ...
Sat, 17 Jun 2023 00:00:00 GMT
Iron ore futures posted weekly gains for a third week in a row, benefiting from strong expectations of more stimulus to be rolled out to help the bumpy post-COVID-19 economic economy in top steel consumer China. Futures prices of the steelmaking ingredient were little changed on Friday amid mixed market signals. The most-traded September iron ore on the Dalian Commodity Exchange (DCE) ended daytime trading 0.12% higher at 815 yuan ($114.48) a metric ton, posting a weekly gain of 2.4%. The

China steel prices hit three-year low on demand woes
Mon, 29 May 2023 00:00:00 GMT
Steel rebar prices in China hit their lowest in three years this week, underscoring flagging growth in the worlds second-largest economy, particularly in its weak property sector. The spot price of HRB400 20mm steel rebar used to reinforce concrete for buildings and infrastructure fell to 3,510 yuan ($507.80) per tonne in Shanghai on Thursday, data from consultancy Mysteel showed. Thats the lowest since April 2020, when the start of the COVID-19 pandemic in China had curbed most

Iron ore slump shows Chinese economy is still struggling
Mon, 15 May 2023 00:00:00 GMT
Chinas economic recovery falters Iron ore has been on a downtrend for almost two months. Its price on the Singapore Exchange fell to a year-to-date low of $94.20/t last week, down more than 20% from its year-to-date highs and is now hovering below the key $100/t level. Prices climbed above $130/t in February amid bets of a revival in steel demand in leading consumer China following the end of the strict Covid-19 lockdowns. Although China last month reported annual quarterly GDP growth of

Silver imports in 2023 expected to fall a third to 6,000 tonnes ...
Wed, 03 May 2023 00:00:00 GMT
Imports went up in 2022 as demand rose after two years of Covid-19. But now the situation has normalised and imports will come down. But the high prices will dent the demand by 15 -20 per cent, said Chirag Sheth, principal consultant of Metals Focus, an independent precious metals research consultancy.

Chinas steel margins pressured by higher output, slow demand ...
Wed, 19 Apr 2023 00:00:00 GMT
Chinas steel prices and margins saw increased pressure in early April from continued higher production and a slow recovery in demand following the countrys most recent surge in COVID-19 cases over December 2022-February. Output had risen steadily on the year through most of the first quarter and market participants now expect it to slow down mildly in late April due to the poor margins, and support prices. However, most market sources S&P Global Commodity Insights spoke to expect

Voestalpine eyes March Kapfenberg plant launch after delays
Thu, 09 Feb 2023 00:00:00 GMT
Voestalpine is optimistic that the start-up of its all-new special steel plant in Kapfenberg, Austria, will take place by the end of March. The projects completion suffered massive delays due to delivery bottlenecks for technical equipment, partly attributable to the Covid-19 pandemic hitting during the construction period. The start-up is now coming nearer. It

Iron ore hits 2-week low as China rally fizzles out
Fri, 03 Feb 2023 00:00:00 GMT
Iron ore futures fell to a two-week low on Thursday as traders reassessed demand prospects in key consumer China, despite expectations for more policy stimulus to support the countrys economic rebound. Iron ore and steel prices in China hit multi-month highs in January as markets rallied from early November on the back of Beijings stepped-up policy support for its ailing property sector and dismantling of strict COVID-19 curbs. The steelmaking ingredient has risen more than 9% this year o

Japan 2022 crude steel output falls 7.4% amid slow car production
Tue, 24 Jan 2023 00:00:00 GMT
Crude steel output in Japan, the worlds third-biggest producer, fell 7.4% in 2022 from the previous year due to a slow recovery in automobile production and weaker export demand amid a slowdown in the global economy. Output dropped for the first time in two years to 89.23 million tonnes, figures from the Japan Iron and Steel Federation showed on Monday. During the COVID-19 pandemic, Japans Toyota Motor Corp 7203.T fared better than most car makers in managing supply chains, but it fell

China reopening rally to drive up iron ore prices
Fri, 20 Jan 2023 00:00:00 GMT
China remains key for iron ore direction Iron ore was one of the worst-performing commodities in 2022. Concerns over Chinese macroeconomic performance and Covid-19-related disruptions were key to driving prices lower. China alone accounts for about two-thirds of seaborne iron ore demand. The Chinese economy has slowed since the second quarter of 2022, mainly due to strict Covid measures that disrupted port and land logistics, retail sales and catering, and caused temporary shutdowns of

Iron ore extends rally on China demand optimism
Fri, 13 Jan 2023 00:00:00 GMT
Iron ore futures rose for a third straight session on Thursday, with the Singapore benchmark scaling a fresh six-month peak, underpinned by continued optimism about demand prospects in top steel producer China. Prospects of stronger demand in China, which has dismantled COVID-19 restrictions and rolled out supportive policies particularly for its ailing property sector, have supported a rally in the ferrous complex since early November. Iron ores most-traded May contract on Chinas Dalia

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Reports on impact of Coronavirus on the steel industry.