Many economic sectors in China including those of consumption, industrial production and investment showed more positive signs of returning to their normal tracks by the end of August, according to a series of highlights published individually by the country’s National Bureau of Statistics (NBS) earlier this week. Last month, China’s retail revenue from consumer goods […]
China’s steel export prices continued to rise over the past week and transaction volume grew, mainly due to the steadily narrowing price gap with the Chinese mill competitors in the international steel market, according to Mysteel’s latest weekly survey. Over September 5-11, China’s export offering prices of SS400 4.75mm hot-rolled coil (HRC) increased by another […]
World’s largest steel producer China expects demand in the second half of the year to exceed the first half as the economy gradually comes out of the grip of covid pandemic, according to the China Iron and Steel Association (CISA). “In general Q2 is better than Q1. And steel demand in H2 will be better […]
China’s total raw coal production for all uses edged down 0.1% on year in August but rose 2.5% on month to 325.8 million tonnes, while that for coke grew by 2.9% on year or 3.2% on month to 41.3 million tonnes, according to data released by National Bureau of Statistics (NBS). Over January-August, China’s total […]
Economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, as the region starts to emerge from the economic devastation caused by the coronavirus disease (COVID-19) pandemic, according to a report released by the Asian Development Bank (ADB). The Asian Development Outlook (ADO) 2020 Update forecasts -0.7% gross domestic product (GDP) growth for developing Asia this year — marking its first negative economic growth since the early 1960s. Growth will […]
Global mining deal value, suffering from an unanticipated shock from the covid-19 pandemic, fell by over $18 billion when compared to the first half of 2019 to $46.6 billion in the first half of 2020, GlobalData reports. The global economic slump, steered by a series of challenges, has kept investors away from long-term financial instruments, […]
After softening noticeably in this month’s opening week, the most-traded hot-rolled coil (HRC) futures contract on the Shanghai Futures Exchange (SHFE), now as January 2021 contract, took a deep dive on September 9, triggering the concerns among some market participants in and out of China that the tumble might signify the start of a long […]
Copper prices pulled back sharply despite near-record level 65 per cent surge in Chinese imports. The fall is being ascribed to the dwindling global inventories of the metal. Copper for delivery in September trading in New York briefly dipped below the $3.00 a pound ($6,600 a tonne) declining 2% from the earlier high. Customs data […]
Zinc prices will edge higher over the remainder of 2020, continuing a strong rebound from the lows posted during the initial covid-19 outbreak, according to Fitch Solutions’ latest industry report. Zinc prices fell by 17.3% over the first three months of 2020, but have since recovered to post new highs for the year. Three-month zinc price averaged […]
India’s Oil and Gas Minister Dharmendra Pradhan on Tuesday pledged to reduce the nation’s import dependence for solar modules which currently are mainly sourced from China. Speaking at the International Solar Alliance’s first World Solar Technology summit in New Delhi, Pradhan said that India would also expand global partnerships for solar energy both within the country as well […]
