Output among the five major stainless producing countries and regions slipped by varying degrees last year, with US volume posting the sharpest percentage fall among the five of 14.8% on year for a total of 2 million tonnes. Stainless output in Europe also declined significantly by 12.4% on year to 6.29 million tonnes last year, though the tonnage in Q4 jumped by 28.6% on quarter, the ISSF data

By the middle of March, China's composite steel price under Mysteel's assessment had climbed by Yuan 139.9/tonne ($20.4/t) from February 28 to reach a more than eight-month high of Yuan 4,605.4/t on March 14. During the second half of the month, however, prices weakened and on March 30 the composite price had settled at Yuan 4,492.3/t. The collapse of several large-sized banks in the United Sta

The inventories of rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil and medium plate held by traders in 132 cities Mysteel monitors had decreased for the sixth straight week, falling by 2.2% or 524,900 tonnes on week to 23.3 million tonnes as of Thursday. Among the five items stockpiled, rebar stocks witnessed the sharpest decline during the week, tumbling by 275,000 tonnes on week to 1

The five major steel items comprise rebar, wire rod, hot-rolled coil, cold-rolled coil and medium plate. The further on-week decrease was mainly reflected in the inventories of long steel products, with the volume of rebar and wire rod lower by 106,400 tonnes and 63,700 tonnes respectively from the previous week, the survey showed. Transactions in the physical market recovered somewhat this wee

Jiama copper mine, owned by China Gold Group, overflowed with tailings at a tailings dam in Tibet province on March 27, which affected another large copper tailings pond nearby. Jiama copper mine is the fifth largest copper mine in China, with copper concentrate production accounting for nearly 5% of the total in China. According to Mysteel's survey, this event will lead to a 30% decrease in th

More than 12 years after deciding to join, South Korea's largest steelmaker POSCO is following its partners Dongkuk Steel Mill and Vale, and withdrawing from a costly experience in Brazil that it must surely hope to quickly forget. In a regulatory disclosure on March 9, POSCO Holdings, the steel firm's holding company, announced that it expects to transfer its entire 20% stake in Companhia Comp

Nationwide steel prices had climbed slightly during February on improved market sentiment, with the composite steel price under Mysteel's assessment over February 1-27 averaging Yuan 4,407.1/tonne ($635.2/t), up by Yuan 50.5/t from that over January 3-31. However, there is "very limited" scope for the price to rise further this month, Wang predicted, as the recovery in domestic steel demand rem

worldsteel and the circular economy A circular economy is one in which society reduces the burden on nature by reducing its demand on raw materials and then ensuring resources remain in use for as long as efficiently possible. A move towards a circular economy is a move away from linear business models, in which products are manufactured from raw materials and then discarded at the end of their

All the Chinese steel scrapyards that have persevered despite all the hardships in the past years must have been generously rewarded now that steel scrap has become a steelmaking raw material with promises and prices have been strengthening consistently in the past couple of years. The memory is still fresh about a steel scrap conference in Beijing around 2008-2009 when almost all the scrap pro

The year 2021 will most likely go down in history as marking the beginning of China’s decarbonisation era. Following President Xi Jinping’s commitment in September 2020 that carbon emissions will peak by 2030 and carbon neutrality should be achieved by 2060, decarbonisation has become a top priority in Chinese society. As a consequence, from early 2021, an unprecedented number of actions towards