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Chinese New Year could increase steel consumption
The Chinese New Year is only a week away, taking place from 11 to 17 February, usually a sacred period for family unions. But unlike other years, this year migrant workers in China's major urban centres will be encouraged by the central government to stay where they...
Japanese ferrous scrap exports hit an 11-year high
Japan's ferrous scrap exports hit an 11-year high of 9.1 million tonnes in 2020, posting a 23% year-on-year surge. This rise was driven by increased demand from Bangladesh, Vietnam and Taiwan. Japanese exports increased significantly by 11% month-on-month to 0.73...
Iron ore fundamentals could improve in 2021
China's iron ore market fundamentals are expected to improve this year from 2020, according to the China Iron & Steel Association (CISA), summarising the performance of China's steel industry for 2020, reporting that the country's demand is likely to soften due to...
Short-term outlook for Chinese steel products
Rebar and wire rod prices may decline further from February 1-5, mainly due to weakening demand as, for example, many construction sites have suspended operations to allow workers to return home earlier than usual to avoid crowds ahead of the Chinese New Year holiday....