MySteel Global – More positive signs show up in China’s August economic data

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 […]

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MySteel Global – China steel export prices up further, sales up

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 […]

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Developing Asia’s economic growth to contract in 2020; China to grow, India seen shrinking – ADB

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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 […]

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Mining deals across the world slump by over $ 18 billion in value due to pandemic: GlobalData

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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, […]

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Zinc price to enter long term structural decline in 2021: Fitch Solutions

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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 […]

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India to reduce solar module imports; receives global proposals for manufacture, says minister

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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 […]

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