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Chinese steel mills may be forced to modify the way they operate as a result of lower availability of higher grades of iron ore after the collapse of a dam at a mine owned by Brazil’s Vale.
China's steel exports in 2018 fell by 8.1pc against the previous year, slowing the pace of decline from a 30pc drop in 2017.
“China’s steel market performed well in 2018, and domestic steel prices remained at a relatively high level throughout the year, thanks to the central government’s determination to cut excess steel capacity,” a steel exporter in East China’s Zhejiang province said.
Domestic steel industry is keenly watching trends in inventory correction, iron ore prices and Chinese steel production projections post Chinese New Year to get a sense on the direction of steel prices in the current year.
China’s biggest steelmaking city, Tangshan, issued a second-level or “orange” pollution alert for a wave of smog expected to blanket the region, a website run by the city government reported on Sunday.
China’s General Administration of Customs has reported that the import of iron ore into the country declined by 1 percent in 2018 from the prior year. For the year, China’s iron ore imports were 1.064 billion metric tons.
China's average daily steel output in December hit its lowest level since March, as producers cut output amid shrinking profit-margins.
China will accelerate building of new railway lines in 2019 while approving several rail projects to be built over the next 5-10 years, adding to the country's steel demand.
China’s steel industry will shift its focus to optimising capacity structure, including products, location and ownership, in 2019, from reducing overall capacity.
China will “strictly prohibit” the expansion of new iron and steel projects in 2019, the country’s industry minister told the official Xinhua agency in an interview on Thursday.
Focus on precision parts manufacturers
