By Yuliya Fedorinova Oct. 6 (Bloomberg) -- Steel consumption will grow at a slower pace as the crisis in Ukraine and the cooling Chinese real estate market contribute to declining demand, the World Steel Association said. The industry lobby, which represents producers of 85 percent of the world’s steel, sees 2014 consumption rising 2 percent, with another 2 percent growth … [Read more...]
China Steel Binge Spurs Record Hiring of Ore Carriers
View Larger Map Above is a satellite view of Shanghai Waigaoqiao Shipbuilding which is busy building large bulk carriers. Oct. 15 (Bloomberg) -- Freight traders are hiring record numbers of iron-ore carriers in the spot market as Chinese steel production expands at the fastest pace in three years, spurring the biggest rally in shipping rates since 2009. One-time charters … [Read more...]
Steel Rallies as Demand from Chinese Builders Outpaces Supply
Sept. 5 (Bloomberg) -- The fastest Chinese steel output on record is still too slow to meet demand from builders, reducing inventories and driving prices toward a bull market. Production of steel reinforcement bars rose 14 percent to 113 million metric tons in the first seven months and stockpiles slumped 35 percent from an all-time high, data compiled by Bloomberg show. … [Read more...]
Vale Says China Proving Pessimists Wrong on Steel Output
Aug. 8 (Bloomberg) -- Vale SA, the biggest iron-ore producer, forecasts the steel-making ingredient’s main buyer China will increase steel output about 10 percent this year. China probably will produce 780 million metric tons of steel this year compared with 683 million tons two years ago, underpinning a favorable view on the world’s largest emerging market, … [Read more...]
World Steel Production and Utilization: Shipping Requirements Restrained
The World Steel Association, whose members represent approximately 85% of world steel production, reported that world crude steel production for the 64 reporting countries was 132 million tons (mt) in June 2013, an increase of 1.9% as compared to June 2012. Comparatively, in June 2013, the dry bulk shipping fleet grew 22.3 million deadweight (dwt) tons, an increase of 3.2% … [Read more...]