Tag Archives: Chinese steel production
As of February 16, inventory of iron ore at 33 major Chinese ports amounted to 95.70 million mt, down 1.35 million mt or 1.39 percent compared to the inventory level recorded on February 9 as announced by China’s Xinhua News Agency on February 17. As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 64 points, up one point week on […]
For all the talk in the United States about rising energy costs and becoming energy-independent from oil-producing nations, falling oil and gas prices in the last few months hasn’t resulted in the nationwide celebration one would expect. On the consumer end, of course people are happier to pay less at the pump, along with businesses […]
On February 5, China’s Ministry of Industry and Information Technology (MIIT) issued a report on the situation in the Chinese steel industry in 2014. Accordingly, China’s apparent crude steel consumption in 2014 amounted to 740 million mt, down four percent year on year. Average daily crude steel output in China in 2014 amounted to 2.25 million […]
On January 29, the China Iron and Steel Association (CISA) announced that in 2014 the overall sales revenues of China’s 88 large and medium-size steelmakers – all CISA members – totaled RMB 3.588207 trillion ($578.74 billion), down 2.98 percent year on year. In addition, the steelmakers in question achieved an aggregate net profit of RMB 30.444 billion ($4.91 billion) in the given year, up […]
When Mario Longhi took the helm of US Steel in 2013, his vision for the company—which was once the largest steel producer in the world—involved modernizing, streamlining, and most significantly, downsizing. Plant closures and layoffs have defined Longhi’s tenure, with four facility shut-downs announced this month alone. But aside from the temporary idling of two […]
Conversations revolving around steel have a tendency to skew toward serious. Market trends, prices, demand outlooks, and end-use news are all valuable to daily business decisions of course, but is there some rule out there that steel can’t ever be fun? Thanks to a Canadian steel structure manufacturer, building with steel might soon get a […]
Michael Setterdahl from Nucor, the chairman of the traders’ committee, stated that traders are now increasingly seeing more regionalization in trade.