According to Mr Chen Dongqi vice president of Academy of Macroeconomic Research, NDRC China Economy already enters into the fourth round of growth at present which will bring in more increase in steel demand than that in the first three rounds. Mr Chen said China is to develop low carbon economy. Electrified railway, high speed railway and underground railway will provide lots of steel demand as China…

It is reported that Chinese steel exports in February dwindled to just 1.56 million tonne, the lowest level in last 52 months. Chinese steel exports in February 2009 recorded 62% YoY and 1% MoM decline. China imported 1.09 million tonne steel products during the same period down by 14.7% YoY and up by 25% MoM.

The low degree of industry concentration has been a problem in Chinese steel industry for a long time. Mr Wu Xichun, Honorary President of China Iron and Steel Industry Association, said if the concentration of Chinese steel industry could achieve the level of that of automobile industry, the competitiveness of steel industry would greatly increase. Mr Luo Bingsheng executive vice president of China Iron…

According to Mr Zhou Shengxian head of the Chinese ministry of environmental protection, the main tasks this year, co hosted by the Development & Reform Commission and the Justice Department etc, would be for steel industry, one of the high energy consuming and heavy polluting resource industries, which will receive special examination. Mr Zhou addressed that the ministry of to further guard against…

Indian iron ore spot prices in recent days kept surging due to iron ore supply shortage in the market, triggered by the news about Indian government hiking iron ore exports duty, flooding situation in Australia, Iran also contemplating 50% duty tax on iron ore fines and 35% on pellet exports. With the expectation of housing project, railway project and underground projects undertaking in 2011 and many…

It is reported that Daily crude steel output in early and mid September in China fell on a monthly basis for the first time in recent months, since domestic steel mills were forced to cut output to survive the consecutive 7 weeks steel price declines and rebounding iron ore prices. China Business News citing figures from China Iron & Steel Association recently, daily crude steel output in mid September…

China Daily reported that Chinese steel output may rise 10% YoY in 2009, aggravating the steel sector's oversupply problems. Chinese steel output rose 7.5% YoY to 420 million tonnes in the first nine months of the year China Iron & Steel Association at a media briefing that crude steel output would rise by 50 million tonnes to 550 million tonnes this year., according to official data. Mr Luo Bingsheng vice…

A report from Shanghai Securities News said that the power restriction, arriving ahead of time this year, caught many steel plants on the wrong foot, which may cause further capacity shortage to steel industry that has already gone through high operating rate, while steel price will gain favorable support from it. Due to power supply shortage this year, many provinces and cities in China have imposed power…

It is reported that Chinese steelmakers are feeling for tough times as they found steel products difficult to sell because of global prices going decline. Indeed, steel prices have weakened and slumped in demand in the markets of most countries for almost one year. Currently, like Russia and Korea, in many countries their domestically made steel products are now cheaper than Chinese products. The analysts…

It is reported that an analyst in an interview said “EXW prices of large scale steelmakers may be stable in April, but will certainly witness a correction in May.” Actually, analysts were not the only group who held the pessimistic attitude to market. Part of traders decided to stop accepting ordering from steelmakers due to upside down between EXW prices and spot prices. It is possible that the operation…