On February 27, US, the European Union, Britain, and Canada issued a joint statement announcing the latest sanctions against Russia, prohibiting Russia from using the "Society for Worldwide Interbank Financial Telecommunication" payment system (SWIFT). SWIFT is the safest, most convenient and most important cross-border payment system in the world, with about 11,000 members, including nearly 300 Russian banks.

According to data from the National Bureau of Statistics (NBS), among the 50 important means of production in 9 categories in the national circulation field, the market prices of 16 kinds of products rose in late November 2021 compared with mid-November, the prices of 29 kinds declined, and those of five kinds remained flat.

According to data from the National Bureau of Statistics (NBS), among the 50 important means of production in 9 categories in the national circulation field, the market prices of 14 kinds of products increased in mid-November 2021 compared with early November, the prices of 35 kinds decreased, and those of one kind remained flat.

Some coking plants resumed production to some extent as the dual control has been loosened and the overall operating rates of coke oven rose slightly. The transportation of coke has been restricted by snowstorms in north China, resulting an increase in the inventory at plants. 

Due to the environmental protection regulation, the production restrictions are tightening for some companies in Shanxi. Some coking companies in Fenyang city have been required to shut down some 4.3-metre coke ovens before November 10, which involve a production capacity of 3.2 million mt.

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 imported 4.02 million mt of coking coal in March, down 37.4% year on year, according to data from China’s Customs.