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German market expects production cuts
German steel producers, traders and buyers expect a continuation of the downward price trend in July, together with clear expectations of production cuts. According to many sources it would not make sense for steel mills to reduce prices further, it would not help to...
HRC steel: EU buyers wait for clear trend signals before sourcing
European buyers of hot-rolled coils followed a wait-and-see strategy on 4 July, waiting for certainty on price direction and levels before resupplying substantially. HRC in northwestern Europe settled at EUR 840/mt ex-works on 4 July at EUR 818.50/mt, up slightly from...
Cars: Japanese carmakers’ production falls again in May
In May, Japan's eight major carmakers produced about 1.6 million units at their global plants, down 0.3% year-on-year. According to industry observers, reduced production at domestic plants in May, due to delays in receiving components, meant that overall production...
Guinea again blocks Simandou iron ore mining project
Guinea's Minister of Mines has again ordered the total suspension of activities related to the Simandou iron ore mine project, after the two companies involved failed to meet an extended deadline to agree on a joint venture. Mining Minister Moussa Magassouba, a member...