Daily iron ore concentrates output among the 186 Chinese mining companies remained largely unchanged on week over August 16-29 at 519,400 t/d after a robust July, as China’s domestic steel market went into contraction starting August, according to Mysteel’s latest survey on the market. Their daily output was merely 100 tonnes/day or 0.02% higher than…
Treatment charges for zinc and lead (TCs) rose in August with the arbitrage to bring material into China switching markedly to a negative value. TCs for lead concentrates in particular rose sharply, to levels not seen in the past two years. The arbitrage loss to bring refined lead into China hit 1,100-2,300 yuan ($154-321) per…
As the trade war with the United States continues to gather pace, manufacturers in China remain gloomy about their prospects, with the sector activity contracting for the fourth successive month in August. The Official NBS Manufacturing PMI in China dropped to 49.5 in August 2019 from 49.7 in the July 2019 of 49.7. The latest…
The Board of Investments (BOI) has denied the application of Chinese firm Sanjia-Steel Corporation to invest P800 million for the production of reinforcing steel bars (rebars) using coreless electric furnace smelting technology because it will employ obsolete and pollution-causing technologies. In its July 18, 2019 meeting, the BOI Board “resolved to deny Philippine Sanjia-Steel Corporation’s…
Key data from the pricing sessions in London and Shanghai in the week ended Friday August 30. China Key drivers The Chinese export silicon price moved up for the second consecutive week in response to tight supply in domestic market due to increased buying from Chinese secondary aluminum alloy producers who are ramping up production…
India’s Central Statistics Office released the gross domestic product numbers for April-June quarter, which showed that India’s GDP expanded 5% in last quarter, the slowest pace in six and half years, down from 8% in Q1 of 2018-19 and slowing from a 5.8% in the January-March quarter. India’s GDP growth averaged 7.7% from 2014 to…
China's moves to revive its infrastructure sector in response to slower domestic economic growth and rising trade tensions are widely expected to fuel a pick-up in steel demand from September and sustain it into 2020, but could also spur an increase in steel production that results in another winter of oversupply and short-term losses for…
Shanghai-bonded copper stocks fell to their lowest level since February 2016 at the end of August after a profitable import arbitrage between London and Shanghai boosted buying interest for bonded warrants last month. … Source of information
