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China’s Ansteel Group & Ben Gang merger to create world’s third-biggest steelmaker
China’s steel manufacturers Ansteel Group and Ben Gang officially started the process to merge their businesses last Friday (August 20). After this merger, it will become the world’s third-largest steel producer. The state-owned Ansteel takes 51% of the stake in Ben Gang from the regional state a...Read more -
China’s steel exports increase 30% y-o-y in H1, 2021
According to the official statistic from the Chinese government, the total exports of steel from China this first half of the year were around 37 million tons, increased by over 30% year on year. Among them, the different types of exporting steel including round bar and wire, with around 5.3 mill...Read more -
Export tariff readjustment steel city usher in a watershed?
In the production policy led, in July the performance of the steel city.As of July 31, the hot coil futures price surpassed the 6,100 yuan/ton mark, the rebar futures price approached 5,800 yuan/ton, and the coke futures price approached 3,000 yuan/ton.Driven by the futures market, the spot marke...Read more -
China to raise export tariffs on ferrochrome & pig iron from Aug 1
According to the announcement from China’s Customs Tariff Commission of the State Council, in order to promote the transformation, upgrading, and high-quality development of the steel industry in China, the export tariffs on ferrochrome and pig iron will be raised from August 1, 2021. The export ...Read more -
China’s square billet imports increase in Jun on concerns of production cut plan in H2
China’s traders imported square billet in advance as they expected a large-scale production cut in the second half of this year. According to statistics, China’s imports of semi-finished products, mainly for billet, reached 1.3 million tons in June, a month-on-month increase of 5.7%. China’s meas...Read more -
EU’s carbon border tariffs’ impact on China’s steel industry
The European Commission recently announced the proposal of carbon border tariffs, and the legislation was expected to be completed in 2022. The period of transitional was from 2023 and the policy will be implemented in 2026. The purpose of levying carbon border tariffs was to protect domestic ind...Read more -
China plans to reach total imports & exports of $5.1 trillion by 2025
According to China’s 14th Five-Year Plan, China issued its plan to reach total imports and exports of US$5.1 trillion by 2025, increasing from US$4.65 trillion in 2020. The official authorities confirmed that China aimed to expand imports of high-quality products, advanced technology, impor...Read more -
Weekly overview of the raw materials market
Last week, the prices of domestic raw materials varied. Iron ore prices fluctuated and fell, coke prices remained stable on the whole, coking coal market prices tended to be stable, ordinary alloy prices were moderately stable, and special alloy prices fell on the whole.The price changes of the m...Read more -
The steel market will run smoothly
In June, the steel market volatility trend has been contained, some of the end of May prices fell varieties also appeared a certain repair. According to statistics from steel traders, since the second quarter of this year, the National Development and Reform Commission and local development and r...Read more -
China’s iron ore price index hikes on Jun 17
According to the data from China Iron and Steel Association (CISA), China Iron Ore Price Index (CIOPI) was 774.54 points on June 17, which was up by 2.52% or 19.04 points compared with the previous CIOPI on June 16. The domestic iron ore price index was 594.75 points, rising by 0.10% or 0.59 poi...Read more -
China’s iron ore imports drop by 8.9% in May m-o-m
According to data from China’s General Customs Administration, in May, this largest buyer of iron ore in the world imported 89.79 million tons of this raw material for steel production, 8.9% less than the previous month. Iron ore shipments fell for the second month in a row, while supplies ...Read more -
China’s steel exports remain active
According to statistics, China had a total quantity of steel products exports of around 5.27 million tons in May, which increased by 19.8% compared with the same month a year ago. From January to May, the steel exports totaled around 30.92 million tons, hiking by 23.7% year on year. In May, i...Read more -
China’s iron ore price index decreases on Jun 4
According to the data from China Iron and Steel Association (CISA), China Iron Ore Price Index (CIOPI) was 730.53 points on June 4, which was down by 1.19% or 8.77 points compared with the previous CIOPI on June 3. The domestic iron ore price index was 567.11 points, rising by 0.49% or 2.76 poin...Read more -
On June 2, the RMB fell 201 basis points against the US dollar
Xinhua News Agency, Shanghai June 2, from the China Foreign Exchange Center data showed that the 21-day RMB on the intermediate price of the US dollar exchange rate was 6.3773, which was down on 201 basis than the previous trading day. The People’s Bank of China authorized China Foreign E...Read more -
It skyrocketed and plummeted in May ! In June ,steel prices go like this……
In May, the domestic construction steel market ushered in a rare surge in the market: in the first half of the month, the hype sentiment was concentrated and the steel mills fueled the flames, and the market quotation hit a record high; in the second half of the month, under the intervention of t...Read more -
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After more than a year,our trademark has finally been registered successfully . Dear customers and friends,please identify them accurately .Read more -
China’s government plans to increase tariffs on steel products to control exports
The Chinese government has removed and reduced export rebates on most steel products since May 1. Recently, the Premier of the State Council of China emphasized ensuring the supply of commodities with stabilizing process, implementing the relevant policies such as raising export tariffs on some...Read more -
China Iron ore price index on May 19
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China’s iron ore price index decreases on May 14
According to the data from China Iron and Steel Association (CISA), China Iron Ore Price Index (CIOPI) was 739.34 points on May 14, which was down by 4.13% or 31.86 points compared with the previous CIOPI on May 13. The domestic iron ore price index was 596.28 points, rising by 2.46% or 14.32 p...Read more -
Tax rebate policy may be difficult to quickly restrain the export of steel resources
According to the analysis of “China Metallurgical News”, the “boots” of steel product tariff policy adjustment finally landed. As for the long-term impact of this round of adjustments, “China Metallurgical News” believes that there are two important points. &...Read more -
Chinese steel market prices rise on overseas economic recovery
The overseas economic rapid recovery gave rise to the strong demand for steel, and the monetary policy to boost the steel market prices has risen sharply.Some market participants indicated that the steel prices have gradually risen due to the overseas steel market’s strong demand in the fir...Read more -
World Steel Association releases short – term steel demand forecast
Global steel demand will grow 5.8 percent to 1.874 billion tons in 2021after falling 0.2 percent in 2020. the World Steel Association (WSA) said in its latest short-term steel demand forecast for 2021-2022 released on April 15.In 2022, global steel demand will continue to grow by 2.7 percent to r...Read more -
China’s low steel inventory may affect downstream industries
According to the data showed on March 26, China’s steel social inventory fell by 16.4% compared with the same period last year. China’s steel inventory is declining in proportion to production, and at the same time, the decline is gradually increasing, which shows the current tight s...Read more -
Introduction to API 5L pipeline steel pipe/The difference between API 5L PSL1 and PSL2 standards
API 5L generally refers to the implementation standard of line pipes, which are pipelines used to transport oil, steam, water, etc. extracted from the ground to oil and natural gas industrial enterprises. Line pipes include seamless steel pipes and welded steel pipes. At present, the commonly use...Read more
