SOURCE / ECONOMY
Nation to cut steel output as it targets carbon neutrality By Chi Jingyi and Tao Mingyang Published: Mar 03, 2021 09:28 PM
An alloy bar production line at a steel producer in Ma anshan in East China s Anhui Province on November 11 Photos: cnsphoto
The price of screw-thread steel hit 4,910 yuan ($759.5) per ton on Wednesday, the highest since October 2011, after several provinces announced plans to limit steel production to reduce carbon emissions.
Since the start of the Spring Festival, Tangshan in North China s Hebei Province has been among those provinces.
Tangshan said that it will implement total volume controls on a pilot basis in the steel industry and gradually extend those controls to coking, cement, power and the foundry industry. The overall goal is to reduce emissions, including carbon emissions, by more than 40 percent from 2020 levels.
Steel price may set record high as demand surges
As production picks up after the Spring Festival holidays, Chinese factories are confronting soaring steel prices, with some key items such as rebar jumping 6.62 percent from the last trading day before the Spring Festival to the fourth working day after the holiday, according to an industry research group.
Experts said that China’s ongoing work resumption could drive steel prices above record highs this year, the beginning of the country’s 14th Five-Year Plan (2021-25).
Domestic iron ore futures hit a life-of-contract high of 1,180 yuan ($182) per ton on Monday, with coking, scrap steel and other raw materials prices also rising, according to Beijing Lange Steel Information Research Center. Although iron ore fell 2.94 percent on Tuesday to 1,107 yuan, it remained at an above-average level.
SOURCE / ECONOMY By GT staff reporters Published: Feb 23, 2021 08:33 PM
Staff in a factory in Wuxi, East China s Jiangsu Province prepare carbon steel products for shipment. Companies in the city are still busy as China s New Year approaches. China also encouraged people to stay put over the holidays to reduce the risk of infections during the travel rush. Photo: cnsphoto
As production picks up after the Spring Festival holidays, Chinese factories are confronting soaring steel prices, with some key items such as rebar jumping 6.62 percent from the last trading day before the Spring Festival to the fourth working day after the holiday, according to an industry research group.
SOURCE / ECONOMY
China s largest trading facility for coal prepared By GT staff reporters Published: Jan 13, 2021 09:08 PM
Aerial photo shows the railway container freight dock at Jingtang port area of Tangshan Port, north China s Hebei Province. (Photo: Xinhua)
Amid city lockdowns and logistics disruptions caused by a sudden coronavirus outbreak in North China s Hebei Province, the region s Tangshan Port - a major domestic facility for bulk commodities such as steel, iron ore and coal - is operating normally despite hardships caused by the coronavirus.
Hebei reported 90 new COVID-19 cases on Tuesday, and the cities of Shijiazhuang, Xingtai and Langfang are being locked down, Hebei health authorities reported on Tuesday.
Rising steel prices and surging demand in China aren t helping the profits of steel mills
Chu Daye Published: Jan 12, 2021 09:13 PM
Workers observe the operation of flame cutting equipment at a steel products enterprise in Jingjiang industrial park in Taizhou, East China s Jiangsu province on December 23, 2020. Photo: VCG
Rising steel prices and surging demand in China aren t helping the profits of steel mills, which are grappling with surging iron ore prices amid a post-virus economic recovery, Chinese analysts said on Tuesday, noting that the situation is an alarming call for China to strive for a greater say in iron ore prices.