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China: Low-carbon steel becomes top priority As China pursues cleaner, low-carbon and more efficient steel sector development, analysts expect multinational companies will carry out deeper and higher-quality cooperation in the Chinese market this year despite the impact of the COVID-19 pandemic. “China has led the global demand recovery in 2020, while overseas demand was hurt by COVID-19,” said Zhu Yi, a senior analyst for metals and mining at Bloomberg Intelligence. “Exports from China could increase this year as overseas demand recovers, thus boosting China’s output of metals and im...

CISA: Iron ore fundamentals to improve in 2021 The fundamentals of China’s iron ore market are expected to improve this year from 2020, the China Iron & Steel Association (CISA) predicted when summarizing China’s steel industry performance for 2020, elaborating that the country’s demand will ease probably on lower steel output, while supply may increase both from domestic and international miners because of capacity expansions and gradual recoveries in output from the adverse impact of the COVID-19. However, pricing may remain a concern, according to CISA vice chairman, Luo Tiejun. “S...

5 Min Read LAUNCESTON, Australia (Reuters) - China’s vast steel sector, and the iron ore industry feeding it, is grappling with a seemingly contradictory policy impulse that it should produce less this year, even as demand remains strong amid post-pandemic stimulus spending. FILE PHOTO: A man works on transporting iron ore on a truck at Ganyu port in Lianyungang, Jiangsu province, China June 11, 2019. REUTERS/Stringer China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Over the year, prices r...

(Repeats with no changes. The opinions expressed here are those of the author, a columnist for Reuters.) LAUNCESTON, Australia, Feb 1 (Reuters) - China’s vast steel sector, and the iron ore industry feeding it, is grappling with a seemingly contradictory policy impulse that it should produce less this year, even as demand remains strong amid post-pandemic stimulus spending. China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Over the year, prices rose 75%. The spot price of benchmark 62% iron o...

5 Min Read LAUNCESTON, Australia (Reuters) - China’s vast steel sector, and the iron ore industry feeding it, is grappling with a seemingly contradictory policy impulse that it should produce less this year, even as demand remains strong amid post-pandemic stimulus spending. FILE PHOTO: A man works on transporting iron ore on a truck at Ganyu port in Lianyungang, Jiangsu province, China June 11, 2019. REUTERS/Stringer China produced a record 1.05 billion tonnes of steel in 2020, helping to drive spot iron ore prices to a one-year peak of $175.40 a tonne on Dec. 21. Over the year, prices r...