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Eastern China’s steel mills cut ferrous scrap buying prices

Steel mills in eastern China have cut ferrous scrap buying prices as rebar prices continued to fall. Jiangsu Shagang Group, the largest scrap user in China, on Saturday cut its buying price by Yuan 20/mt ($3/mt) in view of the ...

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E China steel mills cut ferrous scrap buying prices further as rebar retreats

Steel mills in eastern China further lowered ferrous scrap buying prices over the weekend in tandem with falling rebar prices. Jiangsu Shagang Group, the largest scrap consumer in China, Saturday cut its buying price by Yuan 30/mt ($5/mt), a company ...

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Taiwanese Steel Mills may purchase less Scrap during April

Steel mills in Taiwan will most likely purchase less scrap during April, as the annual country-wide restriction on electricity usage is due to begin on May 10, as per the Steel Index.   Following this date, mills in the country ...

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Iron ore faces weak year: Chinese steel chief

CHINA’S steel industry has warned that iron ore prices will remain under pressure over the year ahead as the nation’s steel mills battle with over-capacity and weak demand. “The iron ore price will remain on the downward track while the ...

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Price war in offing for HR exports between Chinese and CIS steel mills

Hell seems to be breaking loose in global HR trade with CIS base steel mills upping the ante with aggressive pricing for Asian clients in last 2 weeks overthrowing the Chinese steelmakers. It is learnt that some Russian mills, supported ...

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November factory output slowdown in China wipes hopes of steel recovery

The annual Chinese Central Economic Work Conference that kicked off on Tuesday sets economic priorities such as gross domestic product growth, inflation and money supply targets for 2015 and the figures will be officially announced when China’s Parliament, the National ...

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China’s Hebei shifts steel mills to coast in restructuring plan

Northern China’s Hebei province, the country’s dominant steel producing region, is set to move 16 million tonnes of output capacity to the coast in a step aimed at upgrading the sector. According to a document posted on the official local ...

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The Bokaro way of avoiding ageing of steel mills

People die of old age but steel mills shouldn’t if backlog of repairs and equipment replacement is avoided. This was said when “steel artist” Bethlehem Corporation – which in good times built Golden Gate Bridge and any number of ships and supplied ...

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Great Lakes steel production slides after three-week surge

Raw steel production slid after a three-week surge, dropping to 655,000 tons. U.S. steel production fell by 2.4 percent in the week that ended Saturday, according to an American Iron and Steel Institute estimate. Local production fell by 22,000 tons, or ...

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Large scale mine closures in China may lift iron ore prices: Citigroup

Iron ore prices are likely to rebound as closure of high-cost output supplying mines in China may boost demand for seaborne shipments, said Citigroup in its latest study report. According to Citigroup analyst, local suppliers are seen cutting production. Iron ...

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