China confirms 2020 steel output at 1.065 billion tonnes; global stainless steel output falls for first time in 5 years

China’s National Bureau of Statistic (NBS) updated the country’s crude steel output for 2020 to 1.065 billion tonnes from the preliminary 1.05 billion tonnes. The year-on-year growth, thus, has been revised to 7 per cent from the original 5.2 per cent, according to the latest release from NBS. Global crude stainless steel production during 2020 […]

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Weakening dollar props up base metals rally

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The stimulus packages being announced across the globe amid the Covid-19 pandemic, are benefitting base metals Copper, zinc and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for holders of other currencies. Besides, supply constraints from the pandemic-hit Latin American nations provided support to the metals, said brokerages. […]

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Surge in China’s stainless steel output revives nickel market, but surplus a cause for worry

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Rapidly rising stainless steel production in top consumer China has helped to preserve demand and prices of key ingredient nickel, but analysts still expect a supply overhang of the metal valued for its anti-corrosive properties. Benchmark nickel prices on the London Metal Exchange (LME) are near their highest in more than seven months at around […]

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Worldwide crude stainless steel production to fall by 10% in 2020: MEPS

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Worldwide crude stainless steel production, in 2019, reached an all-time high total of more than 52.2 million tonnes. This represents an increase of almost 3 per cent, compared with the year earlier figure. Due to the effects of the Covid-19 pandemic, UK-based MEPS forecasts that global output will decrease by approximately 10 per cent, in […]

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Data – Details of India’s anti-dumping duty on import of stainless steel products

India has imposed Anti- Dumping Duties on imports of specified stainless-steel products vide: Notification No 61/2015- Customs (ADD) dated 11.12.2015 on imports of Cold Rolled Flat Products of Stainless Steel originating in or exported from China, Korea RP, European Union, South Africa, Chinese Taipei, Thailand and USA @ ranging from 4.58% to 57.39% of landed […]

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World steel in numbers

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Fifty years ago, the world produced just less than 500 million tonnes of steel. In 2016, the world produced just over 1,600 million tonnes with most of the growth coming from new industrialising nations – Brazil, China, India, Iran and Mexico. See below some data released by the World Steel Association that provides a comprehensive overview […]

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China protests latest U.S. anti-dumping duty on steel products, urges correct decision

China has called a U.S. decision to impose high anti-dumping and countervailing duties on imports of Chinese stainless steel sheet and strip “unfair” and urged Washington to correct its call. The Chinese Ministry of Commerce (MoC) said Beijing was disappointed by a series of decisions by the U.S. related to high anti-dumping and anti-subsidy duties […]

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