Reduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?

Reduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets? According to China’s General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished…

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Steel and Tube Holdings Announced Result

Steel & Tube Holdings Limited made good progress on its business turnaround programme in FY19, although positive gains were offset by lower than expected gross margin performance due to market contraction in some high value categories and a highly competitive market. Revenues were $498.1 million, earnings before interest and tax was $16.8 million and net…

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Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China.

Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China. Demand in China’s domestic market weakened last month amid bad weather – heavy rain in some regions and sweltering heat in most of…

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Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets.

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets. The Chinese currency passed the 7-yuan per $1 threshold earlier this month after US president Donald Trump announced plans to…

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MMK Recognised by UNIDO Award

Magnitogorsk Iron and Steel Works was awarded a certificate by the United Nations Industrial Development Organisation for its contribution to sustainable development and environmental initiatives in the Chelyabinsk region, as well as for the successful implementation of its ‘Energy Management of Industrial Enterprises’ program. The UN experts praised MMK’s efforts to reduce and prevent anthropogenic…

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Domestic prices for hollow steel sections remained unchanged across Europe this week, with trading largely on hold during the traditional summer break, sources told Fastmarkets on Wednesday August 14.

Domestic prices for hollow steel sections remained unchanged across Europe this week, with trading largely on hold during the traditional summer break, sources told Fastmarkets on Wednesday August 14. Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, stayed at €615-630 ($688-705) per tonne on Wednesday. During August, many workers take holidays and mills…

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Iron ore futures open lower

Iron ore futures opened lower Friday in daytime trading on the Dalian Commodity Exchange (DCE). The most active iron ore contract for January 2020 delivery dipped 6 yuan (about 85 U.S. cents) to open at 620 yuan per tonne. As the world's largest importer of iron ore, China opened the DCE iron ore futures to…

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The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.

The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand. Chinese tariffs on US-made cars and auto parts were placed on…

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MMK Metallurgists settle into new houses built as part of plant’s housing programme

In Magnitogorsk, an official ceremony took place for the commissioning of two four-apartment houses which were built for employees of MMK Group as part of the Group’s long-term housing programme ‘Affordable housing for the metallurgists of MMK’. These houses are part of ‘Klyuchevskaya’, a residential complex, currently under construction in the village of Soty, an…

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