Tag Archives: Chinese steel trading companies
The People’s Bank of China (PBOC) has decided to cut benchmark interest rates effective as of March 1, following the previous interest rate cut on November 22, 2014. Accordingly, the one-year lending rate has been reduced by 0.25 percentage points to 5.35 percent, while the one-year deposit interest rate has been cut by 0.25 percentage […]
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 […]
Turkish crude steel output maintained its downward trend in January due to unfavorable conditions in international markets and reduced competitiveness of domestic producers, according to the Turkish Iron and Steel Producers’ Association (TCUD). In the given month, Turkey’s crude steel output decreased by 10.4 percent year on year to 2.58 million mt. In January , […]
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 […]
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 […]
The Financial Times reported last week that China had warned its banks of rampant illicit borrowing by steel companies, a development that underscores the financial dangers for the country as the government mulls a new stimulus effort to support the slowing economy.