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2020 - 03 - 26
The 15 percent plunge in iron ore prices in the past week certainly looks dramatic, but is more a case of the raw material finally catching up to a more established trend of weakness in Chinese steel prices.However, the drop in iron ore is more than just a cause for concern for miners in Australia, Brazil and South Africa, as it may alter the dynamics of what quality of ore Chinese mills prefer.The spot price of ore with 62 percent iron content MT-IO-QIN62=ARG, as assessed by Argus Media, dropped to $64.60 a tonne on Monday, down 6.9 percent from its previous close.Since its recent peak of $77...
2020 - 03 - 20
European Union countries are expected to next week approve a scheme to limit imports of steel into the bloc following U.S. President Donald Trump’s imposition of tariffs on steel and aluminum entering the United States.The vote on Jan. 16 would put in place an effective cap on steel imports for three years to counter concerns of EU producers that European markets could be flooded by steel products that are no longer being imported into the U.S..The bloc imposed “safeguard” measures on a provisional basis on imports of 23 steel product types in July, with an expiry date of Feb 4. The quota was ...
2020 - 03 - 18
16 January 2019China’s steel industry will shift its focus to optimising capacity structure, including products, location and ownership, in 2019, from reducing overall capacity, said an executive of the country’s iron and steel association on Monday.China is entering the fourth year of its supply-side reform push to streamline its bloated heavy industry and to pursue “high-quality development” from “fast-speed development.”Since 2016, the world’s largest steel maker has eliminated nearly 300 million tonnes of outdated steel production capacity and low-grade steel capacity, but around 908 milli...
2020 - 03 - 17
European Union countries have backed a scheme to limit imports of steel into the bloc following U.S. President Donald Trump’s imposition of tariffs on steel and aluminium entering the United States, the European Commission said on Wednesday.It means that all steel imports will be subject to an effective cap until July 2021 to counter concerns of EU producers that European markets could be flooded by steel products that are no longer being imported into the U.S.The bloc had already imposed “safeguard” measures on a provisional basis on imports of 23 steel product types in July, with an expiry d...
2020 - 01 - 03
China will restrict imports of scrap steel and aluminum from July 1, the environment ministry said on Saturday.Scrap steel and aluminum would be moved from an unrestricted import list of solid waste products usable as raw materials to a restricted import list, the Ministry of Ecology and Environment said in a statement.Relevant departments were researching the formulation of standards for recycled copper and aluminum, it said.Copper and aluminum raw materials meeting relevant national standards would not be considered solid waste, and can be imported as regular goods, it said.China’s imports o...
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