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2019 - 10 - 14
Chinese steel futures edged up on Thursday in more range-bound trade ahead of the Lunar New Year holidays, while iron ore slipped after a three-day advance spurred by a disruption in supply from Rio Tinto’s export facility in Australia.The most actively traded May rebar on the Shanghai Futures Exchange was up 0.8 percent at 3,554 yuan ($526.50) a tonne by 0229 GMT. Hot rolled coil was at 3,452 yuan, up 0.8 percent.“Trading is getting slower this week ahead of the Chinese New Year holidays (in early February),” a Shanghai-based trader said. “I don’t think there will be much change in the market...
2019 - 10 - 08
'My country and I cannot be separated for a moment. Wherever I go, a song of praise flows out... 'When this familiar melody slowly sounded, every Chinese heart is surging with pride.On October 1, people all over the country are celebrating the 70th birthday of the motherland, praising the brilliant achievements of the great motherland and expressing good wishes for the great motherland. Kewei employees who did not return home during the National Day holiday are still working hard at their posts, watching the live broadcast and expressing their love for the great motherland with the most passio...
2019 - 10 - 08
British industrialist Sanjeev Gupta’s GFG Alliance is on the lookout for further acquisitions in the United States to expand its footprint in the Midwest and East Coast, the privately held steel and energy conglomerate said on Wednesday.GFG is also considering building out steel capacity at its new Keystone Consolidated Industries (KCI) plant in Illinois and restarting a furnace at its Liberty Steel Georgetown plant in South Carolina, it said in a statement.“There is a growing desire to buy American-made rather than imported steel and we are very well placed ... to serve that rising demand,” e...
2019 - 09 - 26
Chinese steel futures edged higher on Friday, with iron ore contracts jumping to the highest in more than two months, buoyed by expectations that steel mills would replenish their stocks of the raw material.The most-traded iron ore on the Dalian Commodity Exchange rose as much as 2.9 percent to hit 509 yuan ($74.13) a tonne in early deals, the highest since Oct. 31 when it had hit 511 yuan.“Our data analytics model shows low iron ore inventory at steel mills’ warehouses. So, they are looking to replenish,” said Darren Toh, a data scientist with Singapore-based steel and iron ore data analytics...
2019 - 09 - 24
Steel producer Nucor Corp said on Monday it would spend about $1.35 billion to build a plate mill in the U.S. Midwest, taking advantage of federal tax cuts that has resulted in windfall gains for several companies.Nucor is also benefiting from higher steel prices for domestic producers due to tariffs imposed on imports by the Trump administration last year.The new mill, which is expected to be fully operational in 2022, would produce 1.2 million tons a year of steel plate products and create about 400 full-time jobs, the company said.“Tax reform, continued improvements to our regulatory a...
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