Industrial News
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China steel demand to decline to 850 mln t in 2025
China’s domestic steel demand is expected to decline gradually in the years to come from 895 million tonnes in 2019 to 850 million tonnes in 2025, and high steel supply will impose a persistent pressure on the domestic steel market, Li Xinchuang, chief engineer of the China Metallurgical Industry...Read more -
China becomes net steel importer first time in 11 years in June
China became a net importer of steel for the first time in 11 years in June, despite record daily crude steel production during the month. This indicates the extent of China’s stimulus-fueled economic recovery, which has supported rising domestic steel prices, while other markets are still ...Read more -
Brazil’s steelmakers say U.S. is pressuring to lower export quotas
Brazilian steelmakers’ trade group Labr on Monday said the United States is pressuring Brazil to reduce its exports of unfinished steel, part of a long fight between both countries. “They have threatened us,” Labr President Marco Polo said of the United States. “If we don’t agree to tariffs they ...Read more -
Goa’s mining policy continues to favor China: NGO to PM
The Goa government’s state mining policy continues to favor China, a leading Goa-based green NGO has said in a letter to Prime Minister Narendra Modi, on Sunday. The letter also alleged that Chief Minister Pramod Sawant was dragging his feet over auctioning of iron ore mining leases to rest...Read more -
China traders’ steel stocks reverse up on slowing demand
Major finished steel stocks at the Chinese traders ended its 14 weeks of continuing declines since late March of June 19-24, though the recovery was merely 61,400 tonnes or merely 0.3% on the week, mainly as the domestic steel demand had shown signs of slowing with the heavy rainfalls having hit ...Read more -
EU Steel Service Centres Shipments Dip by 23% in January-May
The latest EUROMETAL figures on sale from European steel service centers and multi-products distributors confirm the difficulties faced by the distribution sector. According to the latest report issued by the association for European steel and metal distributors EUROMETAL, in the first five month...Read more