May 2022

Bearish sentiment, coke price cuts reduce seaborne coking coal cfr prices

Seaborne coking coal prices in the cfr China market declined on Thursday May 26 amid continued bearish sentiment across the steel market and following a fourth round of coke price cuts, sources said.

Iron ore prices decline amid weaker futures, poor downstream demand

Seaborne iron ore prices dipped on Thursday May 26 amid weaker futures and swap prices, caused by limited demand in downstream steel markets, sources told Fastmarkets.

Chinese HRC prices fall despite Beijing’s push for policies to stabilize economy

Spot prices for hot-rolled coil in China’s domestic market fell on Thursday May 26 despite authorities’ latest attempts to stabilize the economy.

Why China iron ore lump prices are blazing despite weak downstream steel demand

China’s iron ore lump prices have been following an unusual trend recently, moving in the opposite direction of falling iron ore fines prices, despite poor apparent steel demand.

China's domestic rebar prices continue to slide on bearish sentiment

China’s domestic rebar prices continued to fall on Thursday May 26, with market participants pessimistic about the outlook for demand.

Northern Europe wire rod prices slip further on weak demand, cheaper scrap

Wire rod prices in Northern Europe’s domestic market moved further down in the past week on weak demand and lower scrap costs, sources told Fastmarkets on Wednesday May 25.

India's export duty on stainless steel no boon for China

The emergence of a 15% export duty for Indian stainless steel has led to expectations of lower outbound shipments from India, but market participants do not expect China - the biggest supplier in Asia - to get more orders as a result.

Steel industry left dismayed as Chinese Premier warns of worsening economy but offers no further financial support

Steel industry market participants were left dismayed after Chinese Premier Li Keqiang called on local governments across China to implement policies to stabilize and support market growth, but offered no new fiscal support for the industrial sector.

More than 50 Mongolian coking coal trucks cross into China at Ceke port as it reopens on Wednesday

More than 50 trucks of Mongolia-origin semi-soft coking coal and crude coal crossed into China at Ceke port on Wednesday May 25, as the border crossing reopened for coal delivery on a trial basis, market sources told Fastmarkets.

Baosteel issues China’s first low-carbon transition green corporate bond

China’s Baoshan Iron & Steel (Baosteel), a Shanghai-based subsidiary of the world’s biggest steelmaker Baowu Group, on Tuesday May 24 successfully issued the first phase of a low-carbon transition green corporate bond for professional investors in 2022 on the Shanghai Stock Exchange.