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Analysis-China's steel sector has bigger worries than Biden tariff hike

U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China's surging exports. The state-backed China Metallurgical Industry Planning and Research Institute (MPI) forecasts a 1.7% drop in China's steel demand this year, following a 3.3% decline in 2023. While China's steel exports last year climbed more than a th...
United States South Korea Kevin Bai Joe Biden Wood Mackenzie Tony Munroe
Source: yahoo.com

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Iron ore poised to hit US$150 in 2024 on Chinese stimulus, analysts say

BEIJING : Seaborne iron ore prices are set to climb to as much as US$150 per ton in the first half of 2024, according to analysts who have lifted their estimates on expectations of increased demand in China after recent stimulus measures.The price outlook compares with earlier estimates of US$130 per ton,
Tony Munroe Brijesh Patel Edwina Gibbs David Cachot Pei Hao Dominique Patton

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