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Metal, steel stocks in focus: Key factors behind surge
Sat, 31 Jul 2021 00:00:00 GMT
Steel and metal stocks were buzzing in trade amid dovish commentary from the Federal Reserve and positive statements from ArcelorMittal. The company raised its 2021 steel consumption forecast to 7.5-8.5 percent from 4.5-5.5 percent, sending out positive signals for the global ferrous space. Traders have been waiting an official announcement on a possible export duty on steel exports that China talked about earlier this week. According to JPMorgan, this will be positive for the Indian steel

Iron ore slumps on subdued China demand outlook for second half
Fri, 30 Jul 2021 00:00:00 GMT
Iron ore futures in Asia fell on Thursday, pressured by the prospects of a slowdown in demand for the steelmaking ingredient in top buyer China, and despite tempered shipment expectations from its biggest producer, Rio Tinto. The most-traded iron ore for September delivery on Chinas Dalian Commodity Exchange slumped 2.5% to 1,105 yuan ($170.67) a tonne by midday break, extending losses into a third straight session. Iron ores most-active September contract on the Singapore Exchange shed

Europe HRC prices stabilize as market mulls possible capacity ...
Fri, 30 Jul 2021 00:00:00 GMT
The European hot-rolled coil market showed further price stability July 29 as buying activity became more muted because of full order books and expectations of greater capacity coming into the market from imports, sources told S&P Global Platts. Most buyers and distributors were waiting for material booked several months prior to be delivered, with

Steel price differentials between East and West soar to record ...
Thu, 29 Jul 2021 00:00:00 GMT
The gap in steel prices between Eastern and Western countries has reached an all-time high. The pace of growth in US transaction values appears to be slowing, partly as demand traditionally wanes during the summer period. However, a cooling in prices is also occurring in Asia. Consequently, the differential between transaction values in the two regions is expected to expand in the coming months. Import volumes into the US have been steadily rising throughout 2021. Nevertheless, this has been

Iron ore futures snap five-day slump as China steel margins recover
Tue, 27 Jul 2021 00:00:00 GMT
Dalian and Singapore iron ore futures rebounded on Monday after a five-day slump, due to a recovery in steel margins in China, the worlds biggest buyer of the steelmaking ingredient. The most-traded September iron ore on Chinas Dalian Commodity Exchange DCIOcv1 ended daytime trading 0.9% higher at 1,136.50 yuan ($175.22) a tonne. Dalian iron ore marked its steepest weekly drop in 17 months on Friday due to worries about Chinas steel production caps. Iron ores most-active August contract

Latam steelmakers push for firm decarbonization agenda after ...
Mon, 26 Jul 2021 00:00:00 GMT
Latin American steel producers are evaluating decarbonization strategies to embark on a more declaratory sustainable agenda after decades of just making plans, the new executive director for the regional steel association, Alacero, said. Greater use of ferrous scrap, biomass and renewable sources are key for the regional steel decarbonization push. But clear and specific regulations and support from governments are just as important, Alejandro Wagner told S&P Global Platts in an

China launches new anti-dumping probe into steel products from ...
Mon, 26 Jul 2021 00:00:00 GMT
China on Friday launched an anti-dumping investigation into grain oriented flat-rolled electrical steel imported from Japan, South Korea and the European Union following the expiry of tariffs in place for the last five years. Those tariffs will, however, be reinstated during the investigation which is due to be completed within a year, Chinas Ministry of Commerce said. The probe comes after China Baoshan Iron and Steel and unit of Beijing Shougang petitioned the ministry in May, arguing

China aims to increase self-sufficiency on iron ore with technology
Fri, 23 Jul 2021 00:00:00 GMT
China depends heavily on iron ore imports, with around 80 percent of the supply currently coming from abroad. In light of this, a group of scientists has set the goal to increase self-sufficiency in iron ore. The main reason behind Chinas dependency on imported iron ore is that the countrys iron ore is relatively low-grade and expensive to process. Ever since 35-year-old Sun Yongsheng acquired a doctorate in mining science six years ago, he has dedicated his time to one thing highly

Indian HRC quota exhausted, Europe expecting softer steel prices
Mon, 19 Jul 2021 00:00:00 GMT
The European steel market is contending with cheaper flows of Indian hot-rolled coil, with the July-September quota balance of 169,717 mt now exhausted, and material once sitting at the port now allocated to buyers, data from the European Commission showed July 13. Indian HRC imports were heard as low as Eur1000/mt CIF Italy Ports,

Steel price cut likely in July: Heres why
Mon, 05 Jul 2021 00:00:00 GMT
Steel stocks were under pressure as there is an expectation of a price cut in July. Two factors may be responsible for the price cut. First, Russia will impose an export tax from August and so there is a possibility of higher exports from Russian producers. Second, Chinese prices have seen a sharp correction and in line with that Indian prices are also likely to see a correction. There has also been a correction in export prices for India and that could reflect a lower price for steel.

UK to extend quotas and tariffs on most steel imports
Fri, 02 Jul 2021 00:00:00 GMT
Britain said it would introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority to scrap some quotas on imports. Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs should be retained for 10 categories of steel for three years, and revoked in nine others. However the minister said the government would now

Iron ore quality premium widens to record amid China demand ...
Wed, 30 Jun 2021 00:00:00 GMT
The spread between low- and high-grade iron ore has blown out to the highest on record in dollar terms, suggesting Chinese steel mills are trying to maximise output by using as much of the best quality ore as possible. Iron ore has been one of the standout commodity performers during the recovery from the coronavirus pandemic as robust demand from China, which buys about 70% of all seaborne volumes, collided with supply issues from top exporters Australia, Brazil and South Africa. Benchmark

Number of steel trade news reports: 12
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World steel import and export news.