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Steel products prices in China continued to move up in mid-Mar (Mar11-20). The average price of construction steel rebar (HRB 400, 20mm) at 25 major cities in China stood at 4,272.6 yuan/t, up 46.4 yuan/t or 1.1% from ten days earlier, NBS data showed.
Global crude steel production fell 1% YoY to 142 Mt in Feb, showed data from WSA. In Feb, the top ten crude steel producers were China, India, Japan, the U.S., Russia, South Korea, Germany, Brazil, Iran and Turkey.
Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.25 Mt during Mar 11-20, rising 4.71% compared with the previous ten days, the CISA data showed.
For the week to Mar 24, the average cost of construction steel products produced by 40 independent electric arc furnace steel mills was 4,232 yuan/t, down 102 yuan/t week on week. The average profit was 56 yuan/t, while the profit averaged at 162 yuan/t during power valley demand periods, down 26 yuan/t week on week.
Several provinces in South China were hit by thunderstorms and hail. The Central Meteorological Administration has issued a blue-coded alert for strong convective weather, which lasts until Mar 25. During the period, thunderstorms or hailstorms of magnitude 8 to 10 are expected in parts of Hunan, Jiangxi, Fujian, Guangxi and Guangdong, which will bring heavy precipitation and cause temperatures to drop significantly.
Luo Tiejun, vice president of the China Iron and Steel Association, said half of domestic steel companies were in the red in the first two months of the year. He also warned that the decline in new construction in the real estate industry and the fall in manufacturing export orders will continue to dampen steel demand in the coming months.
China Yangtze Power on Mar 21 said the average inflow of the Wudongde Reservoir on the upper reaches of the Yangtze River was 2,070m3/s in Jan-Feb, 72.1% higher than the multi-year average, and 5.5% higher YoY; the inflow of the Three Gorge Reservoir was 6,570 m3/s, 58.1% higher than the multi-year average, yet 4.2% lower YoY. The rise in the reservoirs was mainly as the rainfall in the upper reaches returned to normal.
In Mar 11-20, China's domestic steel prices averaged higher in major trading markets, NBS data showed. Among them, the prices of rebar (HRB 400, 20mm) averaged 4,272.6 yuan/t, up 1.1% from Mar 1-10 session.
On Mar 23, the Bank of England announced a 25 basis point interest rate hike to 4.25% in an attempt to curb persistently high inflation. This is the 11th time the Bank of England has raised interest rates since December 2021.
The head of the Swiss Electricity Emergency Organization, Lucas Conger, cautioned the electricity supply situation in Switzerland remains severe and there may also be a power shortage this winter.
Indian Coal Minister Amrit Lal Meena said in an interview that the coal industry is ready to cope with the record electricity demand this summer as India's coal production is about to outpace the growth of electricity consumption. The Indian government also plans to transport coal by sea from eastern production areas to western states.
Bayi Steel, one arm of China's steel giant Baowu, signed an agreement with Mongolia Energy for raw material procurement for 2023.
Mongolia's coal shipment through railway was registered at 1.26 Mt in Feb, up 32.21% YoY but falling 14.58% MoM, snapping the sixth straight month of increase, showed data from Mongolian statistical authority.
According to a recent report published by the International Renewable Energy Agency, in 2022, the global renewable installed power generation capacity reached 3,372 GW, an increase of 295 GW compared to 2021, or 9.6% YoY, with renewables accounting for 83% of last year's newly-added generation.
On Mar 22, the Baltic Dry Index fell further and hit the biggest one-day drop since mid-Feb, as demand for larger ships weakened. The BDI fell 56 points, or 3.7%, to 1,456 points.
China's portside thermal coal market closed this week with a typically thinly-traded session as demand was dampened by poor consumption during the seasonal lull period. On March 24, offer
The top five Chinese provinces comprising Hebei, Jiangsu, Shandong, Liaoning and Shanxi all realized crude steel production higher than 10 million tonnes in January-February, 2023, according to the la
Steel products prices in China continued to move up in mid-March (March 11-20), according to the latest data from the National Bureau of Statistics (NBS). The average price of constructio
Mongolian imported coking coal prices continued to sink at China's Ganqimaodu border crossing, led by the bearish sentiment spreaded from the stanaency in the domestic market. The m
Global crude steel production fell 1% from a year ago to 142 million tonnes in February, showed data from the World Steel Association (WSA). In February, the top ten crude steel producers
Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.25 million tonnes during March 11-20, rising 4.71% compared with the previous ten days, the CISA data
It has been more than seven months since the EU imposed a ban on Russian coal imports last August 11. In the meantime, European countries have been experiencing energy shortages, soaring prices and el
Higher Australian intake likely to curb China's demand from Russia China's growing imports of Australian metallurgical coal are likely to dampan its demand for Russian shipments, although it
What about coal demand in non-power sectors? China's non-power coal consumers like cement and chemical plants may lend limited support to thermal coal market in the near term, at... &nb
China imported only 207,000 tonnes of coal from Australia during the first two months of 2023, far lower than estimated 2.2 million tonnes from the relevant shipping statistics. Thi
Indonesia's Ministry of Energy and Mineral Resource (ESDM) has released its thermal coal reference price (HBA) for March, the first use since the formula for calculation was changed. Acco
Russia plans to increase coal exports to Asia-Pacific countries in 2023, TASS quoted Russian Deputy Energy Minister Sergey Mochalnikov as saying. Mochalnikov said Russia's coal exports sl
China's coal exports totaled 620,000 tonnes in the first two months of 2023, up 2.3% year on year, customs data showed. The exports were worth $217.81 million, up 22.8% year on year, data
The U.K. National Grid has announced that the government is considering reserving some coal-fired power plants as backup power for next winter to ensure sufficient electricity supply. How
Infographic | China coal imports in Feb 2023
Five workers were trapped and on dead after a coal and gas outburst accident occurred in southwestern China's Guizhou province on March 19, according to an announcement from local governmental website
Northern China's Inner Mongolia produced 198 million tonnes of raw coal in the first two months of 2023, up 1.9% year on year, showed the latest data from the local statistics bureau. Thi
China's cumulative power generation capacity of all sources totaled 2,599.93 GW by the end of February, an 8.5% rise year on year, data from the National Energy Administration (NEA) showed.
China's state safety watchdog urged coal mines to step up efforts to prevent mining risks from gas explosion and water leaks, a day after a deadly accident in southwest China. On March 20
China Shenhua Energy Co., Ltd., the country's largest listed coal producer, reported its commercial coal output was up 2.8% year on year but down 3.7% on the month to 25.90 million tonnes in February,
Thermal coal prices stayed stable at northern China ports for the fourth consecutive day, with no clear trends formed, leaving both sellers and buyers to sit on the sidelines for more clues.
The ongoing stalemate between coke producers and steelmakers over the first round of coke price hike has started to add bearishness to the coking coal market. Coke firms continued to limi
Coking coal prices showed signs of a downward spirl in major producing areas of China due to a lack of buying strength from coke firms, some miners informed. On March 20, CCI Index
Chinese buyers remained inactive in importing Australian coking coal even though the import barrier has been gradually lifted, partly due to cheaper domestic supplies and price-competitive alternative
China's portside thermal coal prices remained flat as market participants stood on the sidelines for more clues. Some traders expected demand from the cement industry to pick up and drive coal prices
China's raw coal production during January-February this year notched the highest for the same period in history, yet its year-on-year growth significantly shrank to 5.8%. Potential decline of product
China registered a 71.4% year-on-year surge in coal imports to 60.64 million tonnes during the first two months of 2023. While the higher growth mainly resulted from the lower year-ago imports, the Ja
Spot thermal coal prices moved sideways on March 14 across major transfer ports in northern China, as sellers and buyers waited for hints amid uncertainties to make next moves, adding to the trading s
Newcastle thermal coal futures edged lower in tandem with underperformance of energy commodities amid spillover uncertainty due to concerns over the financial stability after closure of the Silicon Va
Coal inventories at China's major transshipment port of Qinhuangdao started to rebound last week due to a significant decline in the offtakes, ending four straight weeks of drop, Sxcoal's data showed.
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