Surging spot prices of iron ore are forcing steel mills to look for more domestic supplies, something that would also reduce their dependence on costly imports, industry insiders said.
Tags: industry, iron-ore, steel
This year’s iron ore benchmark talks will not end in agreement any time soon because Chinese steel mills will not accept a price that is higher than what the processed products can be sold for, Deng Qilin, the president of Wuhan Iron & Steel Group, said yesterday.
Deng, who is also the chairman of the China [...]
The outlook of China’s steel industry will be better this year than 2009 as the impact of the stimulus package continues, the Ministry of Industry and Information Technology (MIIT) said Saturday.
A strong increase in new investment plans would help boost domestic demand for steel while improving external demand following world economic recovery would encourage steel [...]
Steelmakers from China and South Korea may post a faster recovery than Japanese peers this year, given their higher exposure to the booming Chinese economy, according to ratings agency Fitch Ratings.
The agency said in its North Asian Steel Outlook 2010 report that it expects all the rated North Asian steelmakers to recover this year.
According to [...]
China yesterday decried a US decision to impose duties ranging from 10 to 16 percent on Chinese steel pipes, the biggest US trade case to date against the country, saying it had been made a scapegoat of protectionist interests.
The Ministry of Commerce (MOFCOM) said it was “strongly dissatisfied with and resolutely opposed” to the vote [...]
China’s Ministry of Commerce (MOC) announced Tuesday it is to extend an anti-dumping investigation into carbon steel fasteners imported from the European Union.
The investigation would be prolonged by six months to June 29 next year because “the situation in this case is quite special and complicated,” said a brief notice on the MOC website without [...]
