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Chinese steel, iron ore futures sag as trade war rages

Chinese steel and iron ore futures dropped to one-week lows on Tuesday as investors cut positions after returning from a holiday weekend with the United States and China locked in an intensifying trade war. Washington and Beijing imposed fresh tariffs ...

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Suez Canal Authority cancels Al Ain Sokhna steel plant of Danieli

The Suez Canal Authority has canceled its project for the construction of an iron and steel plant in Ain Sokhna with the Italian company Danieli Group on an area of 572,000 m² after receiving objections from the Ministry of Commerce ...

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Japan’s crude steel output edges up in August

Japan’s crude steel output rose 0.9 percent in August from a year earlier to 8.81 million tonnes, an industry body said on Friday, reflecting a recovery in production at mills located in areas that saw torrential rain in July. Gushing ...

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Russia puts its losses from US aluminum, steel tariffs at $600mln

Russia estimates its losses from steel and aluminum tariffs introduced by the United Statesa at $600 million, Russian Economic Development Minister Maxim Oreshkin said in an RT interview. “We have already calculated the damage done to our economy by this ...

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Turkey imposes quota-tariff system on steel imports

Turkey’s customs and trade ministry, following a safeguard investigation into imports last April, has imposed a provisional 25% safeguard duty on imports of carbon steel flat and long products, welded and seamless pipe, stainless flats and special steel longs exceeding ...

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CISA advises steel mills to use mixed index to import iron ore

China’s Iron & Steel Association has advised Chinese steel mills that they should refuse to sign iron ore purchase contracts that are not based on a basket of indices. CISA Secretary General Mr Liu Zhenjiang said at CISA’s annual raw ...

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China drive to boost broader infrastructure could help its steel sector

A push to expand subway networks in some of China’s biggest cities along with a drive to boost broader infrastructure investment in the world’s No.2 economy are helping brighten the outlook for the nation’s mammoth steel sector. The northeastern cities ...

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China’s steel demand to stay firm despite U.S. trade war

China’s steel demand will remain firm despite the country’s escalating trade war with the United States, and any efforts by Washington to “sabotage” the Chinese economy will not succeed, the head of China’s steel association said. “The U.S. wants Chinese ...

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Shanghai steel rebar rises on Chinese infrastructure push

Prices for Chinese construction steel rebar rose on Wednesday and were on track for their best one-day performance in over a week, buoyed as the government said it would boost spending on infrastructure. The National Development and Reform Commission (NDRC), ...

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Switzerland lodges protest against EU steel tariffs

Swiss Info reported that Swiss steel manufacturers fear being frozen out of the EU market if they exceed restrictive quotas. Swiss negotiators say they have had “constructive” talks with the European Union over protective steel tariffs that Brussels has imposed ...

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