China’s steel industry in trouble as property market woes hit demand
4 months, 1 week ago

China’s steel industry in trouble as property market woes hit demand

Live Mint  

China's steel industry is facing trouble as its falling property market has affected demand, Bloomberg reported on Wednesday, August 16. China's steel demand concerns: According to Kallanish, cited in the report, China's property market slowdown caused steel demand from construction activities to fall 10 per cent this year. “Steel demand is really poor,” said Wei Ying, an analyst at China Industrial Futures, reported the news agency. China's export threat and material impact: China's“aggressive” export of its steel is creating problems for the global steel industry, influencing the US and European prices to fall below cost, said ArcelorMittal SA, the biggest steel producer outside China.

China Market Steel Report Hit Demand Prices Fall Steel Demand Kallanish  chinas  report  industry  woes  china  market  steel  hit  demand  prices  fall  property  according  slowdown  trouble

History of this topic

Dynamic supply-demand factors to lift steel sector profits
1 month, 3 weeks ago

Dynamic supply-demand factors to lift steel sector profits

China Daily  

Mounds of iron ore at Rizhao Port, Shandong province. As China's steel industry is facing declining demand and tightening margins, a balanced approach to production and a focus on emerging consumption sectors are likely to stabilize the market and ensure sustainable growth, a top industry association said. "China's steel industry has entered a phase of 'stock optimization', with a persistent …

China factory surveys show economy weakening, as Beijing steps up support
2 months, 3 weeks ago

China factory surveys show economy weakening, as Beijing steps up support

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China's economy weakened further in …

Plummeting iron ore prices on back of China's property crisis could wipe $3b from federal budget
4 months ago

Plummeting iron ore prices on back of China's property crisis could wipe $3b from federal budget

ABC  

Plummeting iron ore prices could cost the federal government $3 billion in revenue, which is likely to push the budget further into deficit this financial year. Labor facing prospect of less revenue The Treasury often makes conservative forecasts on iron ore prices, which has meant the federal government has regularly received more revenue than it planned for. But now, with …

As Beijing quietly heads into economic oblivion while Washington lights up, expect tougher times ahead
5 months ago

As Beijing quietly heads into economic oblivion while Washington lights up, expect tougher times ahead

ABC  

As the world looks on entranced at the drama playing out in Washington, an equally significant but far less visible event has been unfolding in our very own time zone. China's trade trap US presidential hopeful Donald Trump points to China's trade surplus as a deliberate attempt by Beijing to take advantage of Americans, to create a common enemy. China's …

China’s metal demand takes a different shape
10 months ago

China’s metal demand takes a different shape

Live Mint  

The realization that China’s property bust is beginning to look semi-permanent isn’t welcome for big miners, which have long fed off the country’s housing demand. Indicators of China’s copper demand growth, particularly imports of copper ore and concentrate, still look solid—no surprise given the huge EV and green-power boom. The property market made up only 27% of China’s finished steel …

Steel sector to see limited impact from external woes
2 years, 8 months ago

Steel sector to see limited impact from external woes

China Daily  

Employees check steel tubes at a production facility in Maanshan, Anhui province, in March. Amid price hikes, nation's stabilizing moves to keep production on track Adding more strain to global steel supplies and price inflation of raw materials, the Russia-Ukraine conflict has increased China's steel production costs, yet experts said as domestic steel market expectations level off amid Chinese authorities' …

China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate
3 years, 2 months ago

China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate

CNN  

Hong Kong CNN Business — China’s GDP is growing at the slowest pace in a year as a massive energy crunch, shipping disruptions and a deepening property crisis take their toll on the world’s second largest economy. “The challenges of keeping the economy running smoothly have increased,” said Fu Linghui, spokesperson for China’s National Bureau of Statistics, at a press …

Steel prices have tripled. Now Bank of America is sounding the alarm
3 years, 7 months ago

Steel prices have tripled. Now Bank of America is sounding the alarm

CNN  

New York CNN Business — A bubble could be brewing in steel stocks. It’s just a matter of when and how it happens.” Phil Gibbs, director of metals equity research at KeyBanc Capital Markets After bottoming out around $460 last year, US benchmark hot-rolled coil steel prices are now sitting at around $1,500 a ton, a record high that is …

Steep steel prices hurt several sectors as China gorges on ore
3 years, 11 months ago

Steep steel prices hurt several sectors as China gorges on ore

The Hindu  

With several automakers recently announcing price increases to offset input costs, steel prices have come under the spotlight. Market intelligence firm SteelMint said on Friday that Indian iron ore exports had doubled to 40.7 million tonnes in 2020, from the previous year’s 19.1 mt. The ISA wrote to the Prime Minister’s Office last month flagged a dip in domestic iron …

Discover Related