Consumers in Southeast Asia have scaled down their purchase of imported steel billet amid a slide in Chinese steel market for the semi-finished product and futures markets, sources told Fastmarkets on Tuesday October 20. *** Chinese steel market Chinese steel futures performed poorly on Tuesday following a slight uptick on Monday, while spot prices for […]
This will have a direct impact on all global markets, including gold, which we will address in this analysis. In less than a month until the 2020 US election, political tensions in the country are rising. Rising US political risk alone could be the main cause of rising global gold prices.
The CIS steel billet in the export market was largely quiet in the week to Friday October 16 due to a mismatch between sellers’ and customers’ price expectations. *** CIS steel billet Offers of CIS steel billet were heard mainly within the range of $410-415 per tonne fob Black Sea, but some suppliers were seeking […]
Buyers booked at least four cargoes of imported Asia HRC on a cfr Vietnam basis in the week to Monday October 19, with Russia, China and Kazakhstan among the main suppliers, sources told Fastmarkets.
china is one of the most important players in the world steel and iron industry, whose performance directly affects all global commodity markets and can sometimes change the equations of other commodity-related commodity markets.
For this reason, one of the most important indicators influencing the iron ore and scrap market is the developments in China, whether it is a holiday or a decision of scrapers and scrap owners in this country. China's golden holiday begins on October 1 for eight days, and pre-holiday news and occasional reports of major telephone deals in the country set the course for iron ore market developments.
Unfortunately, since the price of the dollar experienced an irrational increase, mineral, steel and iron goods in the market were looked at as capital goods, and any commodity that has the potential for capital will not be left out of the eyes of brokers and intermediaries. The spectrum of people in the market causes disorder and disrupts the natural process of supply and demand
According to the reports of upstream organizations (based on the base year of 2018), Iran's nominal steel production capacity will be about 38 million tons by 2020, which has been achieved this year, and Iran's export reports even in foreign information channels such as Steel Mint and Metal Bulletin has been recorded and reported with an increase of 11% compared to the same period of the previous year. This is at a time when most steel-producing countries have stopped production due to the corona virus epidemic or have met only domestic demand by reducing production.
Chinese plate exporters raised their offers after an eight-day break to mark the country’s National Day amid domestic price gains despite thin trading.
China’s hot-rolled coil prices weakened on Tuesday October 13, allowing some exporters to cover their short positions and take profits.