WASHINGTON/BRUSSELS/SHANGHAI The United States opened the way for more exemptions from its steel and aluminium tariffs on Friday, after pressure from allies and intense lobbying from lawmakers, further diluting the measures just a day after they were formally announced. | Video
MANILA/SHANGHAI China's steel producers are eager to unleash their mills' capacity when this winter's output curbs end next month, hoping for a repeat of last year's record profits based on high margins and less competition as outdated plants were closed.
MANILA/SHANGHAI, Feb 21 China's steel producers
are eager to unleash their mills' capacity when this winter's
output curbs end next month, hoping for a repeat of last year's
record profits based on high margins and less competition as
outdated plants were closed.
SHANGHAI/MANILA China's iron ore imports jumped to the second highest level on record in January as the world's top buyer built stockpiles ahead of the Lunar New Year holiday and the lifting of steel production curbs next month.
SHANGHAI China aims to meet its target for reducing steel production capacity two years earlier than planned, the industry ministry said in a statement on Wednesday, as the world's top steel producer ramps up its years-long push to reduce excess output.
BEIJING China's Hebei province denied news reports on Thursday that it will extend steel production curbs imposed for the winter season, as sources told Reuters that authorities in the region's top steelmaking city Tangshan was considering such a move.
SHANGHAI Chinese steelmakers have succeeded in a push to include domestic iron ore price indices in some 2018 annual supply contracts with global miners, four industry sources said, as the world's top buyer boosts its clout over pricing of major commodities.
SHANGHAI A warm start to the winter has boosted steel prices and margins for mills in China, the world's top producer, as the higher temperatures have allowed projects to proceed that would normally have come to a halt.
SHANGHAI/MANILA China's steel output dropped in September from a record high the previous month as mills in the world's top producer cut production in line with Beijing's campaign for clearer skies, pointing to further drops as winter curbs set in.
MANILA/SHANGHAI China's steel mills and traders are embracing more sophisticated ways to sell metal and buy raw materials to protect their bumper profits amid rising price volatility.