MEPS estimates that world stainless steel output climbed by a double-digit percentage, year-on-year, in 2021. The increase was driven by expansions in Indonesia and India. Global growth is expected to be three percent, in 2022. This will equate to a new all-time high of 58 million tonnes. In the first nine months of 2021, Indonesian…

China’s stainless steel futures rose more than 5% on Tuesday on concerns about tight supply as manufacturers cut output, while raw material prices were also supported. ” Domestic stainless steel companies are stepping up maintenance in the first quarter, while being affected by the Spring Festival holiday and Beijing Winter Olympics; overall output is expected to…

The America Department of Commerce (DOC) is expected to issue the final conclusion of the anti-tax evasion investigation on stainless steel plates of Vietnam until January 5, 2022. It is known that the case was initiated to investigate in May 2020 because the US suspected that Vietnam’s stainless steel plate was tax evasion. This is…

The government has proposed to cut import tax on steel products further to bring it to zero or close to zero to provide relief to MSMEs, which have been hit hard by high raw material prices in the context of pandemic is raging. Leading Government sources say that the decision has been taken to review…

All factors now push steel prices up. That is the increased demand and the price of raw materials for steel production increased, including iron ore. On the Shanghai floor, the price of rebar – used in construction – at the end of the session 6/5 increased by 4.7% to a new high of 5,672 CNY/ton;…

The price of iron ore for September delivery increased by 5.5% , the prices of other steelmaking components on the Dalian bourse also fluctuated. On the Shanghai floor, the price of construction rebar for October delivery fell 0.2% to 5,610 CNY/ton. On the Dalian Commodity Exchange today, May 19, the price of iron ore for…

“Steel demand from China’s major consumers is expected to increase by 2021,” Baosteel said on April 27, further challenging the government to keep output lower than the same period last year, especially when it rose 37 million tons in the first quarter while the Government is aiming to reduce steel production by 2021 for environmental reasons….