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Chinese scrap steel prices fall as stockpiles rise
Steel scrap prices reversed from March 5 to 12, influenced by recent fluctuations in other commodity prices. In addition, scrap steel inventories held by domestic steel mills increased during the week as scrap traders rushed deliveries to steel mills for fear that...
Strong demand pushes steel production up 13% in first two months of 2021
Chinese producers' crude steel production stood at 174.99 mn tons in January-February 2021, up 13% from the first 2 months of 2020 (155 mn tons), blamed on the first cases of VOCID-19 infection. The increase in production was supported by robust downstream demand from...
Southern Copper to invest $8 billion in Peruvian projects
During the Southern Mining Framework's 5th International Congress, Southern Copper announced that it will invest $8 billion in its various projects in the country, including Tía María. In October 2019, construction of the $1.4 billion Tía María project in the southern...
China’s blast furnace capacity utilization drops to a ten-month low
The blast furnace (BF) capacity utilization rate among 247 steel mills across China fell 1.66 percentage points during the week, reaching a new low since May 15, 2020, although the rate still appears high at 90.39%, mainly due to the ongoing curtailment of steel...