Steel Price Falls 7 Weeks in a Row

Affected by the dual control of energy consumption and the power rationing policy, a steel mill in Guangxi will reduce its hot rolled coil output by about 30% in October, and the same proportion of customer orders for the month will be adjusted.

China's import volume of unwrought copper and copper semis in August were 393,900 mt, a year-on-year decrease of 41.07%, and a month-on-month decrease of 7.2%. The imports from January to August were 3.61 million mt, a year-on-year decrease of 15.4%.

This is a roundup of news in the steel industry for last week.

The steel industry plays an important role in leading global low-carbon development and addressing climate change under the carbon neutrality target. And as traditional processes are reaching their carbon reduction limits, the steel industry must achieve breakthrough technologies in order to realise this target. In the future, hydrogen metallurgy will become the new windfall for the steel industry. This article will giver an overview of the key cooperation projects between international mines and China steel companies in the field of low carbon technology.

China’s finished steel exports in July were 6.96 million tonnes, up 2.2 per cent MoM, but down 32.4 per cent YoY.

In addition, the statement urged nations “to rapidly develop concrete policy solutions that reduce steel excess capacity.”

A degree of restocking is taking place, in the German market, as service centres sell off their excess inventories, accumulated earlier in the year. Availability, from domestic sources, is good. Under

China produced 73.23 million tonnes of crude steel in June, up 5.7 per cent on a yearly basis, and YTD output grew by 4.6 per cent to approach 420 million tonnes, according to NBS.

China’s iron ore inventories grew this past week, bringing the second-straight-week decline to an end. 

The Steel consumption in India during the initial quarter of the current fiscal year was seen to increase by 4.6 percent to about 21 million tons when compared to the corresponding period in 2016, whi